Stora Enso, a leading forest products company, has entered into a multi-year transformational BPO agreement with Capgemini Outsourcing Services to provide global financial and accounting processing services.

Under the agreement, beginning in 2009, Capgemini BPO teams will provide financial and accounting services, such as vendor invoice handling, from Capgemini ‘Rightshore’ BPO delivery centers located in India, Poland and Brazil. In addition, Capgemini will support Stora Enso to establish its centralized shared service centre in Kotka, Finland, leaving only few finance functions remaining in the main operating countries.

Markus Rauramo, Chief Financial Officer of Stora Enso, stated: “This decision is consistent with Stora Enso's strategy to seek efficiencies in its ways of working by reducing complexity and leveraging the scale and best practices of outsourcing providers. Transferring our accounting activities to Capgemini will enable us to streamline our administration in line with its more focused business. Capgemini has a proven track record in accounting BPO services”.