DEERFIELD (HOI) — Caterpillar Inc. is planning to outsource some of their finance and accounting activities, the company announced Thursday.
Spokesperson Kate Kenny said employees were informed Thursday morning of a move to partner with Accenture for several finance and accounting activities.
The move may impact jobs on a local level in the Peoria area, Kenny said.
Peoria is one of Caterpillar’s major finance hubs, so employees in Peoria may be impacted. The transition is expected to take about 12 months.
The Dublin, Ireland based company is described as a provider of services in strategy, consulting, digital technology and operations.
A statement from Caterpillar read, “As part of Caterpillar’s continuous journey to improve the efficiency and effectiveness of its finance and accounting operations, the company informed employees today of its decision to move to a global process model and partner with Accenture for the delivery of select finance and accounting activities. This partnership will lead to a transition of work currently performed at multiple Caterpillar finance operation locations to multiple Accenture finance operation locations. Together with Accenture, the team will continue to assess the work and resources needed. We are not estimating job impacts currently but do anticipate some impact.“