British Petroleum Engages Andersen Consulting for Outsourcing Services.HOUSTON--(BUSINESS WIRE)--March 4, 1996--British Petroleum (NYSE NYSE See: New York Stock Exchange : BP) today announced an agreement with Andersen Consulting See Accenture. to provide financial administrative services in the U.S. BP estimated the outsourcing contract at approximately $120 million over ten years. The agreement covers five major BP businesses in the U.S.: BP Exploration, BP Oil, BP Chemicals, Air BP and BP Marine. The functions included in the scope of the services to be provided by Andersen Consulting will vary according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. each business unit's requirements. "BP's business objectives will be advanced by our engaging Andersen Consulting, which has the expertise to strategically manage this critical function," said Alan Eilles, vice president, business development with BP Exploration, Houston. Eilles added: "This builds on a similar successful arrangement between Andersen Consulting and BP Exploration in the UK which has generated a 30 percent reduction in cost. It is also part of a worldwide initiative designed to enable concentration on our core business and increase the efficiency of standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. 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. while providing significant cost savings." BP Exploration in the U.K. recently extended by five years its pioneering agreement with Andersen Consulting for outsourcing its financial administrative services. The award of that extended contract follows an independent industry-wide benchmarking survey showing that BPX BPX Business Process Expert BPX Business Process eXcellence (Delphi Group event) BPX Burning Plasma Experiment BPX British Petroleum Exploration BPX Broadband Packet Exchange BPX Bus Parcel Express (Canada) gained extremely cost-effective service for the level of its operations. "We're excited about the opportunity because British Petroleum is on the cutting edge of what we see as a long-term industry trend," said Scott Brady, U.S. engagement partner at Andersen Consulting. "We believe that the trend will be to focus on core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
British Petroleum, the parent, is a $50 billion company with 70,000 employees around the world. British Petroleum has well established operations in Europe, U.S., Australasia and parts of Africa, and is expanding its presence in other regions, notably S.E. Asia, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and the former Communist bloc. BP shares are quoted on stock exchanges in the U.K., U.S., Japan, France, Germany and Switzerland. Andersen Consulting is a $4.22 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 38,000 persons in 47 countries. CONTACT: Cynthia Vallimont Andersen Consulting 312-931-3759 or cynthia.a.vallimont@ac.com OR Hugh Depland British Petroleum 713-560-5196 |
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