NEW YORK, June 27, 2016 /PRNewswire/ -- Genpact (NYSE: G), a global leader in digitally-powered business process management and services, announces that it has entered into a definitive agreement to acquire PNMsoft, a Gartner Magic Quadrant-rated dynamic workflow, case management and work optimization solutions provider based around Tel Aviv, Israel. PNMsoft complements and easily integrates pre-existing systems of records that typically host manual process work, and will act as a core component in Genpact's digital portfolio whose roadmap comprises close to 100 digital solution components ("digital assets"). Terms of the transaction were not disclosed. Closing is subject to satisfaction of certain customary conditions and expected in the third quarter. The transaction is not expected to be material to current year financial performance.
Despite the promise of digital technology and analytics, enterprises still struggle with architecting and transforming business processes that thread from the front to the back office, resulting in suboptimal customer experiences and operational performance. As a result, only about a quarter of executives are comfortable with the business impact of their digitally-enabled transformation, according to recent research conducted by Harvard Business Review Analytic Services in association with the Genpact Research Institute. Dynamic, intelligent workflow can help address this and that's what PNMsoft combined with Genpact's business process transformation capability sets out to achieve.
Financial services firms for example underwrite customer credit or insurance policies, and routinely struggle to ensure that employees interact with their counterparts efficiently, access the right data at the right time to make decisions such as approving a loan based on its financial conditions, or ensure that the transaction is compliant with regulations. Often, these processes are poorly documented, very manual, not scalable, and unable to learn and adapt from each transaction. This leads to dissatisfaction of clients and partners, rework, compliance issues, and often revenue loss.
Genpact addresses these challenges through its Lean DigitalSM approach, which drives practical and nimble digital solution choices from its Systems of Engagement that leverage and integrate into pre-existing systems of records. For example, Genpact's Systems of Engagement incorporate the use of Natural Language Processing (NLP) engines, machine learning and artificial intelligence (AI) techniques to completely automate exception management and transform business processes, creating a disruptive outcomes for clients. PNMsoft's iBPMS solutions will provide a core layer for further building out Genpact's Lean Digital assets.
Sanjay Srivastava, Genpact senior vice president and Chief Digital Officer, said, "PNMsoft will help us deliver agile, focused workflow interventions tightly aligned with business outcomes, that leverage data analytics in real time, use machine learning to learn over time, and utilize integrated machine intelligence. This is really exciting for us in our Lean Digital journey with our clients."
"We are thrilled to be joining Genpact and look forward to integrating our iBPMS platform which also includes Case Management and Work Optimization into their growing portfolio of digital assets," said Gal Horvitz, CEO of PNMsoft. "Genpact's global footprint, horizontal and vertical solutions and expertise, combined with our products and services, will allow us to help a wider range of clients further transform their operations. We will support our current clients with more resources, invest more in our technology, and provide solutions to Genpact clients. Our goal is to become the world leader in BPM and dynamic workflow."
PNMsoft is a global provider of Intelligent BPM Software (iBPMS) solutions with offices in Israel, the United Kingdom, the United States, Portugal and Germany. PNMsoft Sequence™, the company's Intelligent Business Process Management Suite, uses unique HotChange® technology to enable rapid build and change of high availability workflow applications, while maintaining lifecycle governance. PNMsoft HotOperations™ provides Case Management and Work Optimization solution. PNMsoft is on Gartner's iBPMS Magic Quadrant. More information on PNMsoft's solution portfolio is available at www.PNMsoft.com.
Genpact (NYSE: G) stands for "generating business impact." We are a global leader in digitally-powered business process management and services. We architect the Lean DigitalSM enterprise through our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients' operating model end-to-end, including the middle and back offices. This creates Intelligent OperationsSM that we help design, transform, and run. The impact on our clients is a high return on transformation investments through growth, efficiency, and business agility. For two decades, first as a General Electric division and later as an independent company, we have been passionately serving our clients. Today, we generate impact for a few hundred strategic clients, including approximately one-fifth of the Fortune Global 500, and have grown to over 70,000 people in 25 countries, with key offices in New York City. The resulting business process and industry domain expertise and experience running complex operations are a unique heritage and focus that help us drive the best choices across technology, analytics, and organizational design. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
This press release contains certain statements concerning our future growth prospects and forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to a slowdown in the economies and sectors in which our clients operate, a slowdown in the business process outsourcing and information technology services sectors, the risks and uncertainties arising from our past and future acquisitions, our ability to convert bookings to revenues, our ability to manage growth, factors which may impact our cost advantage, wage increases, changes in tax rates and tax legislation, our ability to attract and retain skilled professionals, risks and uncertainties regarding fluctuations in our earnings, general economic conditions affecting our industry as well as other risks detailed in our reports filed with the U.S. Securities and Exchange Commission, including Genpact's Annual Report on Form 10-K. These filings are available at www.sec.gov. Genpact may from time to time make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. Although Genpact believes that these forward-looking statements are based on reasonable assumptions, you are cautioned not to put undue reliance on these forward-looking statements, which reflect management's current analysis of future events and should not be relied upon as representing management's expectations or beliefs as of any date subsequent to the time they are made. Genpact undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of Genpact.
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