IBM signed a seven-year business process outsourcing agreement with Lam Research Corporation. The agreement is a renewal of the original contract done in 2002. Under the agreement, IBM is entitled to provide continued services like Accounts Payable, Cash Receipt Applications, Systems Invoicing, Payroll Administration, General Accounting and Account Reconciliation services. Lam Research had selected IBM because of its continued commitment with the company in providing quality services at a competitive price. John Theler, corporate controller of Lam Research, said: IBM provides a well-rounded, cost effective global solution that aligns closely with our business goals. Gene Byrne, general manager, F&A Solutions of IBM Managed Business Process Services, said: IBM and Lam Research have the benefit of working together for several years and we have made service level improvements and taken measures to ensure that the next seven years are even more successful.”
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