NEW YORK, March 1, 2016 /PRNewswire/ -- Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today announced its participation as a member of the new GE Digital Alliance Program that is dedicated to growing the digital industrial ecosystem. Genpact has been an early adopter of the Predix platform, GE's cloud platform-as-a-service for the Industrial Internet. In partnering now with Genpact, GE Digital recognizes Genpact's strong capabilities in driving innovation and transformation in the age of the Internet of Things, which is revolutionizing the industrial world by connecting assets with data and analytics, all with unprecedented speed and scale.
Genpact's deep expertise in industrial processes provides companies with a competitive edge to best leverage the power of the Predix platform, and as a former division of GE, Genpact has a special understanding of GE's operations and systems. Genpact is training approximately 500 technical resources on the Predix platform, and aligning an equal number of functional experts over the next 12 months for a fully-integrated delivery model that drives greater business impact. Genpact already has approximately 100 professionals working on the Predix platform and related projects.
The Industrial Internet brings great promise to re-architect legacy processes and technologies, yet only if companies can effectively derive the most value from their systems and data. Too often, digital and analytics transformation initiatives are not integrated with core operations and do not result in actual impact.
The partnership with GE Digital recognizes Genpact's effectiveness in optimizing technology investments. Genpact builds and sustains an Industrial Internet of Things Data-to-Insight-to-Action strategy by orchestrating, industrializing, and supporting analytics-based processes to generate growth, cost efficiency, and business agility. Genpact reimagines industrial processes across three areas that:
- Combine integration of operational data through front and back-end systems;
- Analyze industry and business scenarios, including using big data analytics; and
- Support action through data interpretation, handling and routing of alerts, mobility, and user experience tools that facilitate action across stakeholders.
As a result, asset data is aligned to respective business processes and analyzed in the context of and integrated within operations, which closes the data-to-insight loop.
By combining the Predix platform with Genpact's expertise in process excellence, engineering, analytics, and digital technology, companies can derive greater value and accelerated business impact such as:
- Increased revenue: Proactive parts replacement and better installation base coverage can provide up to 15 percent more revenue by reducing revenue leakage and designing new business models.
- Greater cost-efficiencies: Centralized field service and contact center operations, and smarter inventory management and returns processes can lower costs by up to 10 percent.
- Improved profit margins: Streamlining operations and deploying large-scale automation can potentially improve margins by up to 15 percent.
- Effective risk management: Remote monitoring of downtime and reliability-based failure forecasting enables shorter repair times to drive more effective risk management.
- Enhanced customer experience: Greater insights from data and higher performing products and services enable smarter decisions, providing an overall better customer experience.
"Genpact's ability to drive transformation in the Industrial Internet through a combination of processes, analytics and technology that deliver greater impact to our customers makes them a valued alliance partner," said Denzil Samuels, Head of Global Channels and Alliances, GE Digital. "We look forward to working together to drive better business outcomes and more effective systems integration."
"Genpact has partnered with GE on the Predix platform since its inception, as we focus on leveraging the Internet of Things to transform our industrial clients' processes through analytics and Lean Digital," said Patrick Cogny, senior vice president and business leader, Infrastructure, Manufacturing and Services, Genpact. "The Predix platform is a key part of our Internet of Things strategy, which also incorporates Genpact Lean Digital to help companies make more sense of their data and better understand how asset performance analytics impact their entire business."
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.
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