Stora Enso outsources invoice handling to India and Poland

Stora Enso will make about 300 employees redundant as part of a move to outsource its financial transaction processing to India and Poland.

The company signed an agreement with Capgemini as part of restructuring of its financial administration.

Stora Enso said its plans would be one of the most comprehensive restructurings of financial administration in the Nordic countries and would “significantly” reduce costs.

But the firm insisted the move would improve the quality of financial operations.

Capgemini will handle most of the group’s transaction processing such as vendor invoice handling, commencing at the start of 2009 and being completed during the fourth quarter next year.

The restructuring was announced in October 2007 in response to increasing costs and to safeguard long-term profitability.

Source: ttjonline.com