Prudential Financial signs a 10-year $700 Million BPO deal with Exhult

January  2003

On 17 January 2002, Exult announced the signature of a $700 million, 10-year comprehensive business process outsourcing (BPO) contract with Prudential Financial.

Under the terms of the agreement, Exult will take over the management of the following transactional and administrative human resources processes for Prudential in the United States: payroll, benefits administration, HR call-center management, HR information services and systems support (on a PeopleSoft platform), employee data and records management, training, and staffing. Exult will also take over the management of some finance and accounting functions, namely the travel and expense and accounts payable functions related to human resources. In addition, Exult will manage all third-party providers related to the above processes (between 400 and 500 vendors). Prudential will retain all strategic human resource functions as well as 401k, expatriate administration and domestic relocation services, as they are part of Prudential's core business.

Source:  Gartner Group