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Having become a publicly traded U.S. corporation, Celanese needed to gain the ability - virtually overnight - to meet far more stringent financial reporting requirements, while at the same time reducing the cost and inefficiency of its decentralized financial organization. Celanese embarked on a multiphased approach to improve processes, reduce risk, eliminate redundant systems and upgrade the talent and capabilities of its financial team. Now in Phase 3 of this effort, Celanese has partnered with IBM Global Business Services to build a shared services center in Budapest, Hungary to centralize its 20 plus European and North American financial operations.
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