FedEx Moves APAC Financial Operations Center to Singapore
SINGAPORE, November 24, 2004 - FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE:FDX), will consolidate its Asia Pacific financial operations in Singapore at its new Asia Pacific Financial Services Center (FSC). The move will help the company better support customers with offices in multiple countries, by standardizing processes across Asia Pacific and ensuring consistency in service levels.
The FedEx FSC, which was officially opened today with Mr Heng Chee How, Singapore's Minister of State for Trade and Industry, will serve 14 countries: Singapore, Australia, New Zealand, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Hong Kong, Taiwan, Korea, Japan, Macau and Guam.
"Asia Pacific continues to be an important region for FedEx, and we need to ensure that we keep pace with the changing landscape of today's environment. This includes centralizing our services and standardizing workflow processes to stay competitive," said Mr. David L. Cunningham, Jr., President, Asia Pacific Division, FedEx Express. "By doing so, we will have a 360-degree view of operations across all areas, with a consistent high level of service to our customers."
As part of FedEx's continued commitment to bringing best practices to the expanding Asia Pacific market, the FedEx FSC follows a shared global service model for all of FedEx's financial operations, and will handle accounting and revenue operations, including invoices and collection services across Asia Pacific.
The FSC is responsible for determining company policies, procedures and standardizing processes and platforms while local finance employees in each of the respective countries provide direct support to the customers.
Mr Heng Chee How, Minister of State for Trade & Industry added, "We are extremely pleased that FedEx has chosen to consolidate their finance services in Singapore. This reaffirms the fact that Singapore is not only an attractive regional logistics hub but also an ideal location for companies centralizing their services for the region."
The new FedEx FSC begins operations at the start of the New Zealand business day and closes at the end of the Thai business day. Employees are fluent in Malay, Cantonese, Mandarin, Thai, English, Japanese and Korean.
