New Century Financial selects Accenture HR and procurement services
New Century Financial Corporation (NYSE: NEW), a real estate investment trust and parent company of one of the nation's premier mortgage finance companies, and Accenture (NYSE: ACN) have signed a seven-year business-process outsourcing (BPO) agreement for human resources (HR) and procurement services.
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Financial terms of the agreement were not disclosed.
Under the HR portion of the agreement, Accenture will provide New Century with recruitment, payroll, leave and absence management and HR call center services.
Under the procurement portion of the agreement, Accenture will manage a full suite of New Century's procure-to-pay functions, including sourcing and negotiating contracts with suppliers for goods and services; order processing; payables processing; travel and expense processing; procurement contract management; and a procurement help desk to support buyer and supplier inquiries.
"New Century is committed to being one of the top mortgage banking companies in the United States, and we relentlessly strive to achieve best practices and "game-changing" innovation in the industry," said Brad A. Morrice, Vice Chairman, President and Chief Operating Officer of New Century Financial Corporation. "This engagement with Accenture will help us to better focus on our core business strategy by becoming the industry's low-cost provider and investing in growth opportunities for our people - who are our true competitive advantage."
"Looking to improve business outcomes and achieve cost efficiencies, high-performing businesses like New Century are increasingly seeking multi-process agreements like this one because they recognize the economy and synergy of outsourcing more than one business function to a single provider," said Kevin Campbell, global managing director of Accenture's BPO organization.