NEW YORK, Dec. 9, 2013 /PRNewswire/ -- Genpact Limited (NYSE: G), a global leader in transforming and running business processes and operations, today announced it was named a Leader in IDC MarketScape: Worldwide Life Science Sales and Marketing BPO 2013 Vendor Assessment (Doc #HI243884) October 2013.
Genpact secured its spot among the Leaders due to its account management proficiency, technical skills and the overall value it delivers to its clients, according to accolades from multiple client references. These capabilities are particularly important due to the global volatility of the life sciences business environment and the intense competition among life science companies around the world.
IDC considered the following when evaluating the life science service providers profiled in its 2013 sales and marketing BPO vendor assessment report:
- Breadth of life science sales and marketing services offered, depth of related project experience, and number of customers the vendor has served
- Geographical footprint and global delivery capabilities, level of priority and focus by the vendor in the life science sales and marketing sector, and the vendor's pace of investment in related life science capabilities
- Life science industry expertise, corporate financial stability, and willingness to contract with clients under a risk/profit-sharing contract model
- Client references to examine vendor capabilities surrounding project management, IT technical skills, account management, and overall value delivery to clients
As Eric Newmark, program director of IDC Health Insights' Commercial Life Science research and the author of this report notes, "Many companies are now expanding BPO beyond traditional barriers and expanding into knowledge based areas that have traditionally been less outsourced. Knowledge process outsourcing (KPO) such as analytics, business intelligence, and predictive modeling are all examples of new areas of increasing interest for life science companies…These services can help companies obtain increased insight in a quicker fashion from big data that has traditionally been underutilized. If you are looking for assistance in selecting a third-party service provider for sales and marketing BPO, the guidance provided in this IDC MarketScape is a great place to start."
"Genpact is proud to have secured a Leader position on IDC's worldwide list of top sales and marketing BPO service providers to the life science industry," said BK Kalra, senior vice president, Consumer Goods, Retail and Life Sciences, Genpact. "Today's life sciences companies are facing monumental challenges including escalating costs, expiring patents, declining sales, rising competition, shrinking R&D pipelines, increasing regulatory compliance requirements, and insurance company price controls. Our sales and marketing services offerings are laser focused on empowering life science companies with the strategic and tactical modeling, productivity, and analytics they require for full lifecycle go-to-market initiatives and in turn allowing them to focus on innovation and invest in R&D which is core to their business."
Genpact has extensive experience working with life sciences companies across the pharmaceutical and medical device industries, servicing 10 of the top 15 life sciences companies. The sales and marketing BPO services that Genpact provides to its life sciences clients include customer support, on-demand content creation, marketing analytics, master data management, sales force productivity and performance management, product launch analysis, promotion analysis, eLearning and training, social media analytics, predictive modeling, opportunity assessment/market attractiveness, competitive intelligence, social media monitoring and measurement, knowledge management, physician targeting, and digital asset management. Genpact's proprietary Smart Enterprise Processes (SEPSM) framework integrates business processes with analytics and IT to help life sciences companies transform their processes to achieve best-in-class effectiveness.
About IDC MarketScape
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of IT, telecommunications, or industry-specific suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT, telecommunications, or industry-specific vendors can be meaningfully compared. The framework also provides technology buyers with a transparent foundation to allow companies to independently compare the strengths and weaknesses of current and prospective vendors.
Genpact Limited (NYSE: G) is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. Our mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. Our approach is distinctive – we offer an unbiased, agile combination of smarter processes, crystallized in our Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. We have global critical mass – 62,000+ employees in 24 countries with key management and corporate offices in New York City – while remaining flexible and collaborative, and a management team that drives client partnerships personally. Our history is unique – behind our single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 15 years. For more information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, and LinkedIn.
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