Genpact

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Genpact
Public
Traded as NYSEG
Industry Artificial Intelligence Solutions Digital Transformation Services Professional Services
Founded 1997
Key people
Tiger Tyagrajan (President and CEO)
Revenue Increase $ 2.57 billion (2016)
Number of employees
77,000 (2016)
Website www.genpact.com

Genpact (NYSE: G)[1] is a global professional services firm with key offices in New York City, Palo Alto, London, and Delhi that helps businesses drive their digital transformation, improve their innovation, and streamline their processes.[2] The company has over 20 years’ experience driving digital-led innovation and digitally-enabled intelligent operations for their clients, which includes hundreds of Global Fortune 500 companies. Genpact integrates lean principles, design thinking, analytics, and digital technologies into their client solutions – an approach the company calls Lean Digital.

Genpact was founded in 1997 as a business unit within General Electric. In January 2005, Genpact became an independent company, and by August 2007 was publicly traded. Bain Capital became its largest shareholder in October 2012.[3]

In 2016, the company reported net revenues of US$2.57 billion with more than 77,000 employees in more than 20 countries.

History[edit]

Genpact began in 1997 as a unit within General Electric. Its charter was to provide business process services to GE's businesses, with the goal of enabling outstanding efficiencies. During the eight years that followed, Genpact began to manage a wide range of processes across GE's financial services and manufacturing businesses.

In January 2005, Genpact became an independent company and began to serve clients outside of GE. The company name, Genpact, is designed to convey the business impact it generates for its clients. In August 2007, Genpact was listed on the NYSE under the symbol 'G'. Since then the company has grown from 32,000 employees and revenue of US$823 million, to 77,000+ employees and revenues of US$2.57 billion (2016).

Bain Capital became the firm's largest shareholder in October 2012.[4]

Keyur Patel, the Indian media moghul and investor of NDTV became the firm's largest joint venture investor in 2006. [5]

Genpact Cora[edit]

In June 2017, Genpact unveiled Genpact Cora – an artificial intelligence (AI)-based platform that accelerates digital transformation for enterprises.[6] Genpact Cora is a modular, interconnected mesh of flexible digital technologies that can pinpoint business challenges. The platform has a mature application program interface (API) design and open architecture that includes Genpact’s own intellectual property as well as other providers, integrating advanced technologies across three key areas:[7]

  • Digital Core: cloud, software-as-a-service, blockchain, mobility and ambient computing, robotic process automation, and dynamic workflow;
  • Data Analytics: advanced visualization, data engineering, big data, and Internet of Things (IoT);
  • Artificial Intelligence: conversational AI, computational linguistics, computer vision, machine learning and data science AI.

Genpact Cora's benefits include deciphering large chunks of data, seamless customer service, faster financial reporting, and increasing speed to market.[8]

Acquisitions[edit]

In August 2017, Genpact acquired TandemSeven, a Boston-headquartered company that delivers customer and digital experience innovation consulting using design thinking. TandemSeven’s team of consultants, technologists, and designers, as well as its proprietary customer analytics technology works with Genpact's global business domain experts and digital and analytics experts in applying Lean Digital and its Genpact Cora AI-powered platform to business strategy. The acquisition expands Genpact’s Boston-area AI and digital innovation hub.[9]

Genpact acquired OnSource in September 2017. OnSource, headquartered in Braintree, Mass., is a provider of an Inspection-as-a-Service (IaaS) product for property and casualty (P&C) insurance carriers and their customers. OnSource uses technologies such as real-time browser-based communication, self-service applications, and drones to put consumers in control of their insurance claims. The OnSource IaaS product leverages Cora, Genpact’s AI-based digital platform. This transaction built upon Genpact’s recent acquisition of BrightClaim and National Vendor that has expanded the company’s U.S. claims management capabilities.[10]

Executive leadership[edit]

On June 17, 2011, NV “Tiger” Tyagarajan[11] became the president and chief executive officer (CEO) of Genpact and was appointed to the Board of Directors.[12] He had served as chief operating officer of Genpact. He succeeded Pramod Bhasin, who stepped down as CEO and member of the board and became non-executive vice chairman of the company.[13]

Tyagarajan had been CEO of Genpact from 1999 to 2002, when he led the business through a critical growth phase as a subsidiary of GE.[14] When Genpact became an independent company, he rejoined Genpact from GE Capital U.S. as executive vice president of sales and business development from 2005 to 2009. Thereafter, he took on the role of Genpact’s chief operating officer.

Awards and Accolades[edit]

HfS Research Capability Blueprints[15]:

  • “Execution Powerhouse” in IoT services, 2016
  • "Winner's Circle" in BFS Analytics, 2016
  • “High Performer” in Design Thinking As-a-Service Economy, 2016 & 2017
  • “Early Leader” in AI Powered One Office Premier League, 2017

Forrester Vendor Landscapes[16]:

  • "Advanced Analytics" Player in Customer Analytics Vendor Landscape, 2017

Everest Group PEAK Matrix Rankings[17]:

  • "Star Performer and Leader" in Analytics BPS, 2017
  • "Star Performer and Leader" in P&C Insurance BPO, 2017
  • "Leader" in Supply Chain Services BPO, 2017

Zinnov Zones[18]:

  • Leader in RPA Services, 2016 & 2017

NelsonHall NEAT Rankings[19]:

  • "Leader" in P&C Insurance BPS, 2017
  • "Leader" in Fintech Services in Banking, 2017

IDC MarketScape Rankings[20]:

  • "Leader" in Worldwide Business Analytics Services, 2016
  • "Major Player" in Industry Cloud Collaborative Services, 2016 & 2017

See also[edit]

References[edit]

  1. ^ "Genpact Limited: NYSE:G quotes & news - Google Finance". finance.google.com. Retrieved 2017-10-05. 
  2. ^ "About Us". Genpact. Retrieved 2017-10-05. 
  3. ^ "Company Overview | About Us | Genpact". Genpact. Retrieved 2017-10-05. 
  4. ^ "Our History | About Us | Genpact". Genpact. Retrieved 2017-10-05. 
  5. ^ [Genpact and NDTV in 2006. http://www.genpact.com/docs/pr/pr_-genpact_ndtv_032906 Genpact and NDTV in 2006. http://www.genpact.com/docs/pr/pr_-genpact_ndtv_032906] Check |url= value (help).  Missing or empty |title= (help)
  6. ^ "Genpact Launches Artificial Intelligence-Based Platform "Genpact Cora"". Financial IT. Retrieved 2017-10-05. 
  7. ^ "Genpact Launches Artificial Intelligence-Based Platform, "Genpact Cora" - insideBIGDATA". insideBIGDATA. 2017-07-02. Retrieved 2017-10-05. 
  8. ^ "Genpact Launches Artificial Intelligence-Based Platform, "Genpact Cora"". Fintech Finance. 2017-06-29. Retrieved 2017-10-05. 
  9. ^ "Genpact Acquires Digital Customer Experience Firm TandemSeven". Genpact. Retrieved 2017-10-05. 
  10. ^ "Genpact Redefines Insurance Experience with OnSource Acquisition". Genpact. Retrieved 2017-10-05. 
  11. ^ "Tiger Tyagarajan of Genpact: If You're Curious, You Hold the Keys". The New York Times. 12 July 2014. Retrieved 6 August 2014. 
  12. ^ "NV "Tiger" Tyagarajan to Succeed Pramod Bhasin as CEO of Genpact". Bloomberg. 16 May 2011. Retrieved 6 August 2014. 
  13. ^ "Pramod Bhasin to step down as Genpact CEO, NV Tyagarajan to take over". The Economic Times. 17 May 2011. Retrieved 6 August 2014. 
  14. ^ "NV "Tiger" Tyagarajan". The Wall Street Journal - CEO Council. 2013. Retrieved 6 August 2014. 
  15. ^ "HfS Research". HfS Research. Retrieved 2017-10-03. 
  16. ^ "Vendor Landscape · Forrester". Forrester. Retrieved 2017-10-03. 
  17. ^ "PEAK Matrix - Everest Group". Everest Group. Retrieved 2017-10-03. 
  18. ^ "Zinnov Zones". zinnovzones.com. Retrieved 2017-10-03. 
  19. ^ "NelsonHall's NEAT reports available - NelsonHall". research.nelson-hall.com. Retrieved 2017-10-03. 
  20. ^ "IDC.com - IDC MarketScape". www.idc.com. Retrieved 2017-10-03. 

External links[edit]