Capgemini Unveils North American Recovery Program in Order to Return to Profitability in 2006; Executive Chairman Sees Fast Return to Profit and Creation of Growth Engine for Capgemini.PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. & NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Capgemini, one of the world's leaders in consulting, technology and outsourcing services, announced today the details of its North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. recovery program by Group COO and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Executive Chairman Pierre Danon Pierre Danon (born 1956) is a French senior corporate executive director, presently as an advisor toJPMorgan and as Chairman of Eircom Danon undertook a degree in civil engineering from the Ecole Nationale des Ponts et Chaussees, a masters in law degree from the Faculte de as part of the Group's first quarter consolidated revenue announcement in Paris. Danon gave a prognosis on the three major lines of business for Capgemini in North America today (Sogeti, Outsourcing and Project & Consulting, or P&C), as well as their ambition for the remainder of 2005. "Sogeti had a very strong first quarter in the local professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. arena in the region, and we expect strong revenue and profits for the year," Danon said. "Our North American Outsourcing unit was attached to a global Outsourcing business unit earlier this year, and with targeted progress on capacity adjustment and a migration of more work offshore, it is now well on its way to becoming profitable in the second half of 2005." "Our P&C business is a combination of our Consulting and Technology disciplines, and the good news is that it has stabilized since April 2004 under the leadership of North America CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Chell Smith," Danon continued. "Since March 1, 2005, the entire P&C business is being refocused and resized, starting with the recent sale of our North America Health Care P&C practice. Beyond this we will introduce significant culture changes that will enable us to usher in Verb 1. usher in - be a precursor of; "The fall of the Berlin Wall ushered in the post-Cold War period" inaugurate, introduce commence, lead off, start, begin - set in motion, cause to start; "The U.S. an era of profitable growth for the company." Recovery Program Highlights Danon explained the P&C recovery program in three main dimensions: --Resize: The North America region will save more than $100 million on an annual basis from reducing support function costs, including a 30% reduction in IT spending, 45% less facility costs and unutilized square footage, shared services shared services, n.pl the administrative, clinical, or other service functions that are common to two or more hospitals or their health care facilities and used jointly or cooperatively by them. savings from implementing a new accounting system and greater use of offshore for back-office transactions, a 30% decline in the use of subcontractors, and a revamping of the pyramid. --Refocus: There will be a clear definition of our areas of excellence where we already have sustainable high revenue markets and a critical mass of capability and productivity. These roughly 30 chosen market segments* will enable Capgemini to grow more quickly and profitably by simplifying our sales and delivery process around fewer but better solutions. --Change the management culture: We will insist upon affordability (invest in profitable areas in our chosen market segments, with only 3% of revenue spent on overhead); accountability (migration to a geographic and discipline P&L structure will create meaningful, empowered units focused on the market); and addiction to efficiency (through a greater use of offshore delivery and better measuring and benchmarking of performance). "These changes, coupled with a strong existing customer base, the client dedication of our people and the power of the Collaborative Business Experience should enable a quick return to profitability and growth in the coming year," Danon added. The North American recovery program will be led by a partly renewed management team, with recent appointments including COO Salil Parekh, CFO See Chief Financial Officer. Thierry Delaporte, Americas Outsourcing President Chris Carrington, and four US Area Directors: Lanny Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. (East), Bill Campbell (South), Tim Crichfield (Midwest) and Kevin Poole (West). About Capgemini Capgemini, one of the world's foremost providers of Consulting, Technology and Outsourcing services, has a unique way of working with its clients, which it calls the Collaborative Business Experience. Through commitment to mutual success and the achievement of tangible value, the company helps businesses implement growth strategies, leverage technology, and thrive through the power of collaboration. Capgemini employs approximately 60,000 people and reported 2004 global revenues of 6,291 billion euros. More information about individual service lines, offices and research is available at www.capgemini.com.
* refers to chosen market segments by industry (e.g. utilities,
retail, telecom and media) and by service line (CRM, Supply Chain
and ERP packages like SAP and PeopleSoft) and will not be
finalized until July 1
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