Friday, November 04, 2005

DuPont (NYSE: DD) and Convergys Corporation (NYSE: CVG), a global leader in providing customer care, human resources, and billing services, announced today they have signed a contract under which Convergys will provide comprehensive Human Resources (HR) transactional services to DuPont’s 60,000 employees and 102,000 retirees in 70 countries and 30 languages around the world.

Convergys expects this contract to generate revenues in excess of $1.1 billion over its thirteen-year duration. DuPont expects to realize a 20 percent productivity improvement as services transition to Convergys, increasing to 30 percent after 5 years.

Convergys is the leader in developing global HR business process outsourcing solutions. Convergys will provide DuPont with a comprehensive suite of HR transactional services such as Organization & Employee Development, Workforce Planning & Deployment, Compensation Management, Benefits Administration, Payroll, Integrated Health Services, Recruiting, Employee & Labor Relations, HR Process Support Administration, Work Environment Support, Performance Management, Employee Data Management, Vendor Management, and HR consultative services. Deloitte Consulting, LLP will team with Convergys to support the implementation. Convergys will implement, host, and maintain a state-of-the-art HR information system for DuPont allowing for greater efficiencies, better service, and lower costs. The implementation is expected to take about two years.

"We are extremely impressed by the breadth and scope of the HR services we will be receiving as part of this agreement with Convergys," said Jim Borel, DuPont senior vice president, global Human Resources. "Convergys brings best-in-class global services to its clients, and DuPont will benefit from increased business performance through improved efficiency, reduced administrative costs, and better utilization of strategic workforce information. DuPont will be able to utilize world-class employee and manager self-service tools as well as state-of-the-art service centers located around the globe."

Borel continued: "Convergys is the right partner to enable the transformation of our HR transactional services by standardizing, simplifying, leveraging, and automating a number of our HR processes."

"DuPont is a recognized global business leader and one of the world’s most innovative companies. Convergys looks forward to supporting DuPont’s global employee base by delivering real value through a comprehensive suite of HR services and local support," said Jim Orr, Chairman and CEO of Convergys. "We’re pleased to have won DuPont’s confidence and look forward to a strong partnership."

For over 20 years Convergys has provided HR solutions to the world’s leading organizations including Office Depot, Avaya, Textron, Bristol-Myers Squibb, and Fifth Third Bancorp. Convergys helps companies improve their HR management processes, operations, and service delivery models. Convergys is outthinking and outdoing [tm] on behalf of its clients every day.

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