Conduent to sell HR business to H.I.G. Capital

Conduent Incorporated has agreed to sell its US-based human resource consulting and actuarial business H.I.G. Capital.

The deal is for the business previously known as Buck Consultants and also includes its services in Canada and the UK. These businesses represent around $278m of Croduent’s revenue for 2017, according to the company.

This sale is part of Conduent’s plan to divest up to $500m in revenue in 2018 associated with non-core assets.

Conduent provides a selection of business services for transaction processing, automation and analytics. The company supports a range of different industries including banking insurance, banking, capital markets, retail, automotive, healthcare and industrials and more.

Its services include finance and accounting, compliance services, digital payments, digital processing, customer experiences, mortgage paperless document management, and human resource services, among others.

Through the human resource service, a client can automate and simplify a variety of the processes and management tasks keeping HR teams busy. One service provided helps to support employees with their retirement through investment consulting and benefit plan administration.

Following the close of the deal, Conduent will retain various assets in line with its core technology platform including its human resources outsourcing, total benefits outsourcing, BenefitWallet and RightOpt.

Conduent consumer and industrials group chief executive Christine Landry said, “With this divestiture, our Human Resource Services business is now built around a diverse set of services supported by a portfolio of digital business platforms.

“Together with our recent leadership hires and platform improvements, we are well positioned to help our clients modernize their HR processes, create seamless experiences for their employees and accelerate our growth in HR services.”

Through Conduent Compliance Solutions, the business claims to streamline compliance related training, validation and process management. Its digital strategies for contract management consolidates data using machine learning and provides organisations with a single, searchable database of all contracts and available metadata.

This enables its clients to evaluate and remediate risks, respond to regulatory demands, remain compliant with contractual relationships, and optimise future contracting standards. Conduentalos provides services for eCommunications auditing, eCommunications monitoring and look-Back reviews.

It helps clients with Financial Industry Regulatory Authority (FINRA) and issues related to financial services fraud, price fixing allegations, and data privacy related to GDPR, PII, sensitive data, client information, proprietary intellectual property, trade secrets and privilege, among other regulations.

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