Genpact Reimagines Consumer Products Trade Promotion Spending Through Finance and Accounting Transformation
Cloud-based solution leverages Genpact Lean Digital(SM) approach to harness digital in the back office and impact business outcomes
NEW YORK, Sept. 17, 2015 - Genpact (NYSE: G), the architect of the Lean DigitalSM enterprise, today announced the launch of its Trade Promotion Payment (TPP) solution that helps companies optimize digital technology to reimagine finance and accounting (F&A) operations and maximize the effectiveness and efficiency of their manufacturer-retailer marketing activities.
Built on Genpact's patented Smart Enterprise Processes (SEPSM) framework aimed at architecting Lean DigitalSM enterprises, the cloud-based solution allows consumer packaged goods (CPG) and other enterprises such as apparel and electronics companies to automate invoice matching and streamline related F&A processes. The end-to-end solution – part of Genpact's Systems of Engagement™ portfolio that integrates a layer of technology on top of clients' existing systems to transform operational processing – features advanced capture technology, workflow for exception and alerts, mapping and matching algorithms, and comprehensive audit trails.
Trade promotions contribute up to 20 percent of a CPG company's revenue, yet managing these activities often causes friction between manufacturers and retailers. Inefficient, manual processes can impede accounts receivable operations, delay payments, and hinder available credit. Lack of transparency and disparate procedures can leave manufacturers and retailers alike questioning whether their trade promotions investments are allocated fairly and spent effectively. Digital technology can significantly alter the way these processes run; however, complex legacy processes and systems across manufacturer and retailer often makes deployment difficult and possibly ineffective.
Genpact's Lean Digital approach drives impact by architecting how enterprises run from front- to back-end, aligning digital interventions to measurable business outcomes and navigating the complexity of legacy processes and technologies. Its TPP solution reduces invoice processing cycle time, standardizes procedures across all users, increases productivity, and improves compliance and control.
Genpact is helping a global CPG market leader automate its promotional invoice processing and payment operations by deploying TPP. Results include plugging revenue leakage by matching 100 percent of the retailer deductions, ensuring faster turnaround time for processing, and bringing the complete operation under audit control.
Genpact's TPP is the latest addition to its family of trade promotion management offerings which connect all relevant components across front and back office, making trade promotion operations more intelligent, able to execute faster and more accurately, as well as adapt over time. The combined benefits help enhance marketing return on investment as a whole.
"Our deep F&A and CPG domain experience, combined with Genpact's Lean Digital approach and SEP methodology, helps companies dramatically transform trade promotion operations," said Sanjay Srivastava, senior vice president and chief digital officer. "Our new cloud-based TPP solution can scale quickly and easily to harness the power of automation across the enterprise irrespective of legacy processes and systems, which significantly increases productivity and improves the bottom line."
For more information, see http://www.genpact.com/home/industries/consumer-goods/trade-promotions and http://www.genpact.com/leandigital.
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.
For more information:
Gail Marold(Genpact Media Relations)
Dan Wilson (For Genpact U.S.)
Quintin Keanie(For Genpact Europe)
+44 (0)207 309 1053