NEW YORK, July 28, 2016 /PRNewswire/ -- Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today announced that HfS Research, a leading industry analyst firm, has recognized Genpact in the 2016 "Winner's Circle" for finance and accounting (F&A) as-a-service.
HfS' Blueprint report evaluates 18 firms as recognized by clients, providers, and advisors in eight areas of execution and innovation. This year's Blueprint paid closer attention to innovation criteria in particular. In placing Genpact in the winner's circle, HfS drew attention to Genpact for its Lean DigitalSM transformative approach, robotic process automation (RPA), industry-specific solutions, global focus, and analytics capabilities.
Genpact's unique Lean DigitalSM approach harnesses three complementary domains – digital process-centric technologies, design thinking methods, and Lean principles – to enable enterprises to rearchitect their middle and back office operations, and impact their efficiency and effectiveness. As a key part of this approach, Genpact's RPA solution is one of the most advanced in the world, and HfS specifically cited Genpact's strong market penetration in implementing this RPA technology.
The HfS report points out that F&A executives now look beyond efficiency benefits achieved through traditional outsourcing. Enterprises are focusing greater attention towards F&A operations harnessing digital to proactively manage the increased transparency and interaction supporting business growth without increasing operations. F&A-as-a-service helps enterprises achieve these benefits.
"Genpact earns its place in our Winner's Circle due its extensive F&A as-a-service value chain coverage, including procure to pay, order to cash, record to report, finance transformation, and analytics," said Phil Fersht, founder and chief executive offficer, HfS Research. "Genpact also provides strong collaborative engagement with clients, incorporates feedback, delivers innovative industry-specific solutions, invests in future talent and technology, and effectively uses technology to support business processes."
Genpact has invested heavily in developing in-house proprietary tools and partnerships with leading digital providers such as One Network Enterprises, RAGE, TIS, Automation Anywhere, Automic, Blackline, Tungsten Network, and Ariba.
"Our place in HfS' Winner's Circle acknowledges our significant expertise in achieving strong business outcomes for our clients," saidShantanu Ghosh, senior vice president, CFO Services and Consulting, Genpact. "As just one of many examples, Genpact helped transform the order management process of a CPG company by leveraging an 'as a service' model combining best-in-class digital technology including machine learning, analytics, and advanced visualization – and also by focusing on customer satisfaction leveraging our proprietary framework to drive fulfilment performance in addition to significantly reducing cost and turnaround times. In another example with a life sciences client, we have now converted our whole F&A contract on an outcome- and performance-based model with the focus shifting from resources to outcomes."
About Genpact 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 models 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.