Genpact and Arria NLG Partner to Harness Artificial Intelligence and Drive Automation in Complex Financial Reporting Operations
Arria NLG joins Genpact's unique Silicon Valley-based Lean Digital incubation program that combines power of disruptive technology and business process innovation
LONDON and NEW YORK, Dec. 22, 2015 -- Genpact (NYSE: G), the architect of the Lean DigitalSM enterprise, and Arria NLG (AIM: NLG), a world leader in artificial intelligence and natural language generation, are partnering to help banks, financial services companies, and other enterprises dramatically transform how they leverage automation and run complex business reporting processes.
Genpact's Lean DigitalSM approach combines design thinking methodology with Lean principles and advanced technologies from partners like Arria NLG to rearchitect business processes beyond the front end and into the middle and back office. The Arria NLG Platform uses natural language generation and other artificial intelligence technologies to provide real-time advanced data analysis and insights that help automate finance operations such as credit reporting and financial planning and analysis (FP&A).
Together, Genpact and Arria NLG make financial reporting operations more intelligent, able to execute faster and more accurately, and learn and adapt over time. The new solutions are part of Genpact's Systems of Engagement™ portfolio, which embeds leading digital technologies within cloud-based offerings added on top of clients' existing systems to streamline and transform operations in an agile and flexible manner.
Arria NLG joins Genpact's Lean Digital incubation program, a unique Silicon Valley-based partner ecosystem that combines the power of new disruptive technologies with Genpact's deep industry domain and hands-on process expertise, while leveraging the global reach of one of the largest real-world business processing environments.
FP&A traditionally has defied automation tools due to the complexity of data and source systems, as well as the qualitative judgment applied by analysts. Most credit reporting and related processes depend on simple spreadsheets and basic technology, disintegrated data sources, slow and manual processes, and rules-based analysis supplemented by human interaction, all of which hinder enterprises' ability to make fast, accurate, and insightful decisions and forecasts.
FP&A is now the latest of manually-dependent operations to be transformed by the power and promise of digital technology. Genpact and Arria NLG combine process improvement with artificial intelligence and automation tools to revolutionize the speed of reporting while increasing the consistency and quality of data. For example, in credit reporting, the solutions automatically gather and collate data from multiple internal and external sources; synthesize relevant information hundreds of times faster than traditional manual processes; and immediately provide accurate and consistent commentary, analysis, and forecasting.
"The intelligent automation that Genpact and Arria NLG deliver also eliminates human bias and potential for errors," said Sanjay Srivastava, senior vice president and chief digital officer, Genpact. "As a result of dramatically improved speed and efficiency, clients are more effective in responding to new market opportunities, complying with evolving regulatory requirements, and competing effectively with new disruptors in their industries."
"Through this relationship with Genpact, Arria NLG's Platform reaches a far wider, global audience than can be achieved through our own direct sales process," said Stuart Rogers, chairman and chief executive officer, Arria NLG. "Our investment in expanding our development and technical teams to support the projects coming from Genpact is a core part of our strategy, and we also look forward to partnering together in Genpact's Silicon Valley innovation lab."
For more information, see www.genpact.com/leandigital.
Arria NLG's core product is known as the Arria NLG Platform, a form of artificial intelligence software, that specializes in extracting information from complex data sources and communicating that information in natural language (i.e. as if written by a human). The scientific foundation for the Arria NLG Platform is based on more than 30 years of research and development by the Data2Text Founders at the University of Aberdeen. For additional information, visit www.arria.com. Follow Arria NLG on Twitter, LinkedIn, Google+ and YouTube.
Genpact (NYSE: G) stands for "generating business impact." We architect the Lean DigitalSM enterprise through a unique approach based on our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients' middle and back offices to generate growth, cost efficiency, and business agility. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 70,000 people in 25 countries, with key management and a corporate office in New York City. We believe we are able to generate impact quickly and power Intelligent OperationsSM for our clients because of our business domain expertise and experience running complex operations, driving our unbiased focus on what works and making technology-enabled transformation sustainable. Behind our passion for technology, process, and operational excellence is the heritage of a former General Electric division that has served GE businesses since 1998. For additional information, visit Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
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