Genpact

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Genpact Ltd.
Public
Traded asNYSEG
Russell 1000 Component
IndustryProfessional services
Founded1997; 22 years ago (1997)
HeadquartersNew York City, New York, U.S.
Key people
NV Tyagarajan (President and CEO)
RevenueUS$3 billion (2018)
US$500 million (2017)
Number of employees
87,000 (2019)
Websitewww.genpact.com

Genpact (NYSE: G)[1] is an American professional services firm headquartered in New York City, New York.

History[edit]

Genpact began in 1997 as a unit within General Electric. Its charter was to provide business process services to GE's businesses. 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, the company became independent 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).

In 2009, Genpact launched a joint venture with an Indian company NDTV to offer outsourcing services for the media industry. It was fully funded by Keyur Patel of Fuse.[2]

Bain Capital became the firm's largest shareholder in October 2012.[3]

In February 2019, Genpact contractors in Hyderabad who were assigned content moderation tasks for Facebook reportedly experienced psychological trauma while evaluating videos depicting suicide, torture, terrorism, and pornography.[8]

Products[edit]

In June 2017, Genpact announced Genpact Cora, an artificial intelligence (AI)-based platform for enterprises.[9] The platform has an application program interface (API) design and open architecture that includes Genpact’s own intellectual property as well as other providers.[10] Genpact Cora's claimed benefits include deciphering large chunks of data, seamless customer service, faster financial reporting, and increasing speed to market.[11]

Acquisitions[edit]

Genpact completed the acquisition of Endeavour Software Technologies, an enterprise mobility software company, based out of Austin TX, in April 2016.[12][13]

In August 2017, Genpact acquired TandemSeven, a Boston-headquartered company.[14]

Genpact then 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. [15]

On 18 July 2018, Genpact signed an agreement to acquire Barkawi Management Consultants, a leading supply chain management firm with operations in the U.S. and Europe that is part of the Barkawi Group.[16]

Management[edit]

On 17 June 2011, NV “Tiger” Tyagarajan[17] became the president and chief executive officer (CEO) of Genpact and was appointed to the Board of Directors.[18] 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.[19]

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.[20] 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.

See also[edit]

References[edit]

  1. ^ "Genpact Limited: NYSE:G quotes & news - Google Finance". finance.google.com. Retrieved 5 October 2017.
  2. ^ "Genpact and NDTV today jointly announced an alliance to offer media outsourcing services to enterprises worldwide". www.genpact.com. 29 March 2006. Retrieved 7 February 2019.
  3. ^ "Our History | About Us | Genpact". Genpact. Retrieved 5 October 2017.
  4. ^ Vengattil, Munsif; Dave, Paresh (28 February 2019). "Some Facebook content reviewers in India complain of low pay, high pressure". Reuters. Retrieved 21 June 2019.
  5. ^ Ganjoo, Shweta (1 March 2019). "Facebook content reviewers in India complain of low pay, high pressure: Report". India Today. Retrieved 21 June 2019.
  6. ^ "Facebook content moderators in India complain of high pressure and low pay: Report". Republic World. 1 March 2019. Retrieved 21 June 2019.
  7. ^ Wong, Queenie (19 June 2019). "Murders and suicides: Here's who keeps them off your Facebook feed". CNET. Retrieved 21 June 2019.
  8. ^ [4][5][6][7]
  9. ^ "Genpact Launches Artificial Intelligence-Based Platform "Genpact Cora"". Financial IT. Retrieved 5 October 2017.
  10. ^ "Genpact Launches Artificial Intelligence-Based Platform, "Genpact Cora" - insideBIGDATA". insideBIGDATA. 2 July 2017. Retrieved 5 October 2017.
  11. ^ "Genpact Launches Artificial Intelligence-Based Platform, "Genpact Cora"". Fintech Finance. 29 June 2017. Retrieved 5 October 2017.
  12. ^ Limited, Genpact. "Genpact to Acquire Mobile Digital Solutions Provider Endeavour to Enhance Digital Transformation Capabilities". www.prnewswire.com.
  13. ^ "Genpact acquires Endeavour Software Technologies - Times of India". indiatimes.com.
  14. ^ "Genpact Acquires Digital Customer Experience Firm TandemSeven". Genpact. Retrieved 5 October 2017.
  15. ^ "Genpact Redefines Insurance Experience with OnSource Acquisition". Genpact. Retrieved 5 October 2017.
  16. ^ "Genpact to expand global supply chain management transformation expertise with the acquisition of Barkawi Management Consultants". Genpact. Retrieved 10 February 2019.
  17. ^ "Tiger Tyagarajan of Genpact: If You're Curious, You Hold the Keys". The New York Times. 12 July 2014. Retrieved 6 August 2014.
  18. ^ "NV "Tiger" Tyagarajan to Succeed Pramod Bhasin as CEO of Genpact". Bloomberg. 16 May 2011. Retrieved 6 August 2014.
  19. ^ "Pramod Bhasin to step down as Genpact CEO, NV Tyagarajan to take over". The Economic Times. 17 May 2011. Retrieved 6 August 2014.
  20. ^ "NV "Tiger" Tyagarajan". The Wall Street Journal - CEO council. 2013. Retrieved 6 August 2014.

External links[edit]