PricewaterhouseCoopers Signs Agreement With BP for the Management of e-HUB, BP's Internal Inter-Company Accounting Process.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 18, 2000 PricewaterhouseCoopers has signed an agreement with BP for the operation, maintenance and future development of e-HUB, BP's inter-company accounting system. As part of a global initiative, BP is enhancing the provision of IT and functional process support for its inter-company accounting system. To help achieve its objective, BP has signed an agreement with professional services (job) professional services - A department of a supplier providing consultancy and programming manpower for the supplier's products. firm PricewaterhouseCoopers. This latest contract forms part of the wider BP Group agreement with PricewaterhouseCoopers to provide Finance and Accounting transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. . As part of this initiative PricewaterhouseCoopers Business Process Outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO BPO Business Process Outsourcing BPO Benevolent & Protective Order (of Elks of the USA) BPO Benzoyl Peroxide BPO Business Process Optimization BPO Broker Price Opinions BPO Buffalo Philharmonic Orchestra ) division will support and manage the applications used internally by BP and its accounting service providers. The e-HUB, used by BP companies to process and settle inter-company bills, is one of these systems. The service will become an integrated part of PricewaterhouseCoopers current Application Process Outsourcing and Business Process Outsourcing offerings to the BP Group, providing application and functional support to the user community and facilitating the provision of best business practices around inter-company processing and applications management. The Business Process Outsourcing division of PricewaterhouseCoopers is a leader in the international Business Process Outsourcing market, with more than 5,000 employees worldwide providing highly developed, e-business enabled outsourcing services to major companies and government organisations. The value of the contract is approximately $5 million over its five year term. Notes to Editor: 1. The e-HUB system was developed to operate in an Internet environment and currently serves more than 300 of BP's operating companies. Under the terms of the contract PricewaterhouseCoopers will be responsible for the roll-out of the system throughout the Group as well as day-to-day management of the e-HUB application in conjunction with BP's chosen facilities management The management of a user's computer installation by an outside organization. All operations including systems, programming and the datacenter can be performed by the facilities management organization on the user's premises. partner. The service will be delivered from the PricewaterhouseCoopers Applications Process Outsourcing (APO apo- 1 A prefix indicating a protein component in a conjugated molecule–eg, apoferritin, apolipoprotein, see there 2 Apolipoprotein, see there ) Centre of Excellence in Manchester, which has over 90 employees. 2. The Business Process Outsourcing division of PricewaterhouseCoopers currently manages most of BP's back-office finance and accounting functions throughout Europe, 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. and 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. . These services are operated from Centres of Excellence in a number of locations, including Rotterdam, Krakow, Tulsa, Bogota and Caracas. |
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