BT has signed a £128m, six year deal with IT service provider Xansa for finance and accounting processing.

The contract builds on a 20 year partnership which includes management of the telco giant's UK operations for finance and accounting (F&A), transaction processing, ledger and payroll services.

The new contract covers F&A processing, accounts payable, cash, treasury, payroll, ledger and reporting services.

‘Not only does its outsourcing service provide us with transaction process expertise, but the company has an in-depth understanding of our business and is committed to helping us deliver our key outcomes,’ said BT group director of reporting, planning and analysis Andrew Kemp.