HP has been awarded a seven-year business process outsourcing (BPO) contract with one of the U.S.’s top media companies, the Tribune Publishing, a subsidiary of Tribune Company. The financial terms of the deal were not disclosed. The implementation of the contract will occur in phases, supporting seven of Tribune Publishing’s major metropolitan newspapers and the company’s related interactive websites.
Expected to be completed by summers, HP has already begun delivering a full scope of finance processes, including cash application, credit collections and customer service, for many of Tribune Publishing’s advertisers. Additionally, HP is deploying applications to boost the value, efficiency and quality of the media company’s business processes.
We are looking to HP to help us standardize, consolidate and enhance our advertising customer service, billing and collection operations while helping us cut costs,” said Harry Amsden, Vice President, Finance, Tribune Publishing. “HP’s collaborative approach, geographic presence and success with other customers in these areas made it the ideal partner to help us meet these goals.”
After human resources (HR), finance and accounting (F&A) has become one of the fastest growing components of BPO services. IDC has projected F&A outsourcing to grow at a 9.6 percent compound annual rate and cross $27.6 billion by end of 2008.
Earlier this year, HP won a seven-year deal from Unilever worth $675 million.
