NEW YORK, Oct. 29, 2019 /PRNewswire/ -- Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, and Tradeshift, a leader in supply chain payments and marketplaces, today announced a strategic partnership to help enterprises transform accounts payable and procurement processes and better leverage data for competitive growth.
Procure-to-pay (P2P), which links procurement and accounts payable operations, involves highly manual and fragmented processes with lengthy cycle times that requires many resources. The Genpact and Tradeshift partnership allows enterprises to reimagine this function. They can strengthen invoicing infrastructure, improve cash optimization, and harness data more efficiently, driving scale, agility, and better decision making through insights-to-action analytics.
The partnership combines the power of the Genpact Cora digital business platform and Tradeshift's leading-edge business-to-business (B2B) network technology. By leveraging Genpact's expertise with artificial intelligence, machine learning, robotic process automation, dynamic workflow, advanced analytics, and other digital technologies, and Tradeshift's apps ecosystem, organizations can accelerate digital transformation.
"Finance organizations often face challenges with P2P operations in viewing and analyzing data quickly across disconnected supplier systems, limiting the added value they could provide to respond more effectively to market demands," said Katie Stein, chief strategy officer and global business leader, Enterprise Services, Genpact. "The digital technology of our Genpact Cora platform, combined with Tradeshift's sophisticated B2B network, creates a connected ecosystem that provides faster, smarter access to data to drive more strategic decisions."
The Genpact and Tradeshift partnership allows companies to link their accounts payable and procurement operations to a global network of buyers and sellers. Enterprises can digitize supplier and trade processes and accelerate innovation with apps, which increases agility to adapt more easily to changing business conditions.
"Genpact is a leader in finance and accounting, with decades of experience running operations for numerous global Fortune 500 companies. Its deep process and domain expertise, coupled with its strength in analytics and artificial intelligence, will enable Tradeshift to scale its services faster to jointly help our clients speed their digital transformation," said Rinus Strydom, chief commercial officer, Tradeshift.
Tradeshift drives supply chain innovation for the digitally connected economy. As the leader in supply chain payments and marketplaces, the company helps buyers and suppliers digitize all their trade transactions, collaborate on every process, and connect with any supply chain app. More than 1.5 million companies across 190 countries trust Tradeshift to process over half a trillion USD in transaction value, making it the largest global business network for buying and selling. Discover commerce for all at tradeshift.com.
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience running thousands of processes primarily for Global Fortune 500 companies. We think with design, dream in digital, and solve problems with data and analytics. Combining our expertise in end-to-end operations and our AI-based platform, Genpact Cora, we focus on the details – all 90,000+ of us. From New York to New Delhi and more than 30 countries in between, we connect every dot, reimagine every process, and reinvent companies' ways of working. We know that reimagining each step from start to finish creates better business outcomes. Whatever it is, we'll be there with you – accelerating digital transformation to create bold, lasting results – because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook.
Genpact Media Relations – Global
Genpact Media Relations – India
Tradeshift Media Relations