Genpact Launches Smart Decision Lab for Analytics Services
Genpact Co-Innovating with Clients Including Symantec to Develop New Industry Solutions to Leverage Big Data
NEW YORK, April 15, 2013 /PRNewswire/ -- Genpact Limited (NYSE: G), a global leader in business process management and technology services, today announced that it has developed and launched its Smart Decision Lab to facilitate collaboration and innovation with clients and industry experts, leveraging the use of data, analytics and technology in conjunction with process expertise.
Genpact's Smart Decision Lab creates new lines of competency, builds solution prototypes, tests new business use cases, and develops intelligent technology applications – making them especially relevant to businesses so that companies can make smarter decisions. The lab comprises PhDs in quantitative methods, algorithmic scientists, Big Data specialists, technical solution architects, and data modelers.
Genpact's Smart Decision Lab is utilizing a number of competencies including prediction and optimization, packaged reporting, master data management (MDM) and data quality, intelligent systems, Big Data analytics, text mining and mobile analytics to help its clients run businesses effectively. The Smart Decision Lab has collaborated with several clients to develop solutions including a customized campaign management platform to improve response rates, a text mining engine to resolve first call resolution (FCR) in contact centers, and an incentive compensation tool to drive sales force effectiveness. The lab is currently working on other solution areas such as supply chain optimization, fraud management, compliance monitoring, feedback solutions, and enterprise search and collaboration.
Most recently, Genpact's Smart Decision Lab worked with Symantec to deploy the Genpact Inventory Optimizer that solves problems in the areas of performance reporting, sales and operations planning, material requirements planning, demand forecasting and inventory level optimization, enabling clients to proactively plan and respond to dynamic market conditions, improve service levels and generate higher return on assets.
"It has been exciting for Symantec's Appliances Division to work with Genpact's Smart Decision Lab and see firsthand how collaboration nurtures innovation by tackling some challenges we have been facing in the area of global spare parts and finished goods planning," said Amit Shrivastava, senior operations manager, Appliance Solutions, Symantec Corporation. "Genpact's Inventory Optimizer application has provided us much needed end-to-end visibility into planning tradeoffs – forecast accuracy, inventory and service levels. Moreover, easy configurability allowed us to adapt built-in algorithms to our business objectives. The Smart Decision Lab team is staffed with exceptional individuals with deep expertise in analytics. I was also impressed with their IT capabilities, responsiveness and ability to challenge some of our underlying assumptions."
Genpact also expanded its relationships with two of the top ten global banks through its work conducted in the Smart Decision Lab. Genpact combined Big Data, including the clients' financial advisors' behavior pattern analysis, portfolio data and text mining, with their communication platforms and trade reconciliation data. This effort enabled the banks to enhance sales performance while also improving their compliance and risk detection systems.
"We expect our Smart Decision Lab to be one of the biggest drivers of innovation in helping our clients make smarter decisions through data-driven solutions," said Pankaj Kulshreshtha, senior vice president, Analytics and Research, Genpact. "Genpact's legacy of process excellence and the use of smart technology further strengthen our deep analytics expertise, enabling us to be at the forefront of maximizing data and extracting insights for specific industry needs."
This week Genpact is participating in Predictive Analytics World, where Pankaj Kulshreshtha is co-presenting with a client today on the "Industrialization of Analytics." Genpact will also be showcasing its Smart Decision Lab through demos and presentations at Booth #118.
Genpact's Smart Decision Services business encompasses analytics services, process re-engineering, and risk management. Genpact's business analytics business unit is one of the largest in the world, providing a broad spectrum of services ranging from research and social media monitoring and analysis to data management and reporting through complex optimization, forecasting, and predictive modeling. Genpact's Analytics practice serves multiple industry verticals including banking and financial services, capital markets, insurance, retail, consumer products, life sciences, healthcare, manufacturing, and business services. The company's Analytics services help clients leverage all available data – including previously unused data – to understand customers, partners, markets and businesses and thus drive business impact. More information about Genpact's Analytics services can be found at http://www.genpact.com/home/solutions/analytics-research.
Genpact Limited (NYSE: G), a global leader in business process management and technology services, leverages the power of smarter processes, smarter analytics and smarter technology to help its clients drive intelligence across their enterprise. Genpact's Smart Enterprise Processes (SEPSM) framework, its unique science of process combined with deep domain expertise in multiple industry verticals, leads to superior business outcomes. Genpact's Smart Decision Services deliver valuable business insights to its clients through targeted analytics, reengineering expertise, and advanced risk management. Making technology more intelligent by embedding it with process and data insights, Genpact also offers a wide range of technology services. Driven by a passion for process innovation and operational excellence built on its Lean and Six Sigma DNA and the legacy of serving GE for more than 15 years, the company's 60,000+ professionals around the globe deliver services to its more than 700 clients from a network of 70+ delivery centers across 18 countries supporting more than 30 languages. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook and LinkedIn.
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