ANDERSEN CONSULTING AND GE CAPITAL FORM OUTSOURCING ALLIANCE.CHICAGO, June 14, 1995--(BUSINESS WIRE)--Andersen Consulting and GE Capital have signed a definitive alliance agreement for pursuing opportunities in the U.S. outsourcing market for information technology (IT) and data-processing services. Under the alliance, Andersen Consulting See Accenture. and GE Capital will team to provide full-service IT outsourcing solutions. Terms for the agreement were finalized after both parties signed a letter of intent on March 20. The arrangement supports the recently announced strategy of Andersen Consulting to emphasize outsourcing for clients' IT operations and other business processes, such as logistics, customer service and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . "Just like our clients, we want the focus -- theirs and ours -- to be on core competencies while enhancing market position," says Joellin Comerford, worldwide managing partner for the Business Process Management practice of Andersen Consulting. "This alliance integrates the best talents and capabilities of two world-class companies for the benefit of our clients." The teaming agreement pairs one global leader in management and technology consulting with another in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and asset management. It also furthers both firms' plan to focus on the growing number of companies that view outsourcing as a cost-effective technique for achieving strategic goals and maximizing the business value of IT investments. As part of the arrangement, GE Capital has purchased Andersen Consulting's Dallas-based OM/NI Solutions Center for data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a . Both companies will work with Andersen Consulting's OM/NI Solutions Center clients, who will continue to use the facility for mainframe services. "By combining Andersen Consulting's top-rated IT expertise with GE Capital's financial strength and its life-cycle asset management services, we are now able to offer our clients unique solutions," says Michael S. Ford, GE Capital's president of Technology Management Services. GE Capital Corp., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of General Electric Company, is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company headquartered in Stamford, Conn. GE Capital's activities include equipment management, mid-market financing, specialized financing, specialty insurance and consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, . GE is a diversified manufacturing, technology and services company with operations worldwide. Andersen Consulting is a $3.45 billion global management and technology consulting organization whose mission is to help its clients change to be more successful. The organization works with clients from a wide range of industries to link their people, processes and technologies to their strategies. Andersen Consulting has more than 32,000 people in 152 offices and 47 countries. Editor's note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : Andersen Consulting is not a division of accounting firm Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing . CONTACT: Cynthia Vallimont Andersen Consulting 312/931-3759 or Lois Therrien Andersen Consulting 312/507-9530 or Anthony B. Zehnder GE Capital 203/357-4728 |
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