Sandvik Launches New Delivery Model for Global Finance Transactions
SANDVIKEN, Sweden -- April 11, 2013
Sandvik (STO:SAND)will implement a new shared service delivery model for
parts of its transactional finance. These improvements are in line with
Sandvik’s strategy, where the objective is to simplify processes, utilize
group wide synergies and leverage global business opportunities to become a
world-class industry leader.
Parts of the transactional processes will be transferred to and delivered by
an external business process outsourcing (BPO) service provider, Capgemini.
The ambition is to utilize Sandvik's common resources better and to develop a
more efficient finance organization. As a result, Sandvik will adopt more
flexible and scalable processes and maintain consistent quality and strong
internal financial control. “We need to be flexible and scalable to position
ourselves for future growth. We are pleased to announce that Sandvik has
signed a 5-year contract with Capgemini to handle the transactional finance
rule-based and repeatable processes which will enable us instead to focus on
crucial business support”, says Sandvik’s Chief Financial Officer, Emil
The new model will be implemented during 2013-2015 in 29 countries and
involves all Sandvik’s Business Areas.
“As a consequence, it is likely there will be redundancies. Where, and how
many, is too early to say. The numbers of employees being affected directly
due to outsourcing depends on how these changes will be implemented in each
country. The changes will be discussed in accordance with our transparent ways
of working together with the employee representatives”, says CFO Emil Nilsson.
Stockholm 11th April 2013
Sandvik AB discloses the information provided herein pursuant to the
Securities Markets Act and/or the Financial Instruments Trading Act. The
information was submitted for publication at 08.30 CET on 11th April 2013.
The Sandvik Group Sandvik is a global industrial group with advanced products
and world-leading positions in selected areas – tools for metal cutting,
equipment and tools for the mining and construction industries, stainless
materials, special alloys, metallic and ceramic resistance materials as well
as process systems. In 2012 the Group had about 49,000 employees and
representation in 130 countries, with annual sales of about 99,000 million
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