HfS Research Names Genpact in Winner’s Circle for Intelligent Automation Business Process Outsourcing
Genpact recognized for Lean Digital approach and innovation with new digital technologies, including natural language processing and cognitive computing
NEW YORK, November 9, 2016 – Genpact (NYSE: G), a global leader in digitally-powered business process management and services, today announced that HfS Research, a leading industry analyst, has recognized Genpact in the “Winner’s Circle” in HfS’ 2016 Blueprint Report for Intelligent Automation Business Process Outsourcing (BPO).
The report, which evaluates 20 service providers of intelligent automation in areas of execution and innovation, cites Genpact as leading the pack among pure-play BPO providers, acknowledging its strategic partnerships and proactive innovation with new digital technologies such as natural language processing (NPL) and cognitive computing. The HfS report also highlights Genpact’s scale and repeatability of deployments, and its integration of intelligent automation into its Lean DigitalSM approach for enterprise transformation.
“In a market with an astounding pace of change, Genpact stood out by driving a holistic strategy to intelligent automation and integrating broad sets of unstructured data into their delivery capabilities,” said Tom Reuner, research vice president, HfS Intelligent Automation practice.
Intelligent automation is one of the most disruptive developments in the industry today. It can transform a process that was previously slow, manual, and often insufficient, by detecting and producing vast amounts of information to automate entire operations, learning and adapting as it goes. As a result of such advances in digital technology, enterprises look to BPO service providers to be more strategic, delivering transformation and innovation through automation.
HfS recognized Genpact’s use of intelligent automation as part of a unique Lean Digital approach that reimagines businesses all the way from the customer engagement in the front office, through the middle and back office to enable enterprises to achieve measurable impact in driving growth, business agility, and cost efficiency. Lean Digital combines the power of digital process-centric technologies – such as NLP, cognitive computing, machine learning, robotic process automation (RPA), natural language generation, and other artificial intelligence tools – with design thinking, domain expertise, and business transformation methods that leverage the company’s extensive experience running operations of hundreds of large enterprises.
For example, Genpact used intelligent automation to transform policy administration processes at a leading global insurance company that acquired a new business. The insurer was better positioned for growth with a more agile, fast, and efficient system that automated manual operations through a combination of process re-engineering services and RPA technology. Genpact migrated approximately 350,000 policies from multiple sources to the parent company system, while maintaining 100 percent data accuracy and increasing productivity by 50 percent. The transformation also reduced operating costs by 40 percent and operating time by 44 percent.
“HfS recognizes Genpact’s commitment to partnering with our clients to harness the power of digital technology such as RPA, NLG, cognitive computing, and innovative solutions like our Neural Intelligence Platform, to unlock entirely new areas for competitive advantage,” said Sanjay Srivastava, senior vice president and chief digital officer, Genpact. “Given our deep industry acumen, and one of the world’s largest sandboxes, Genpact can effectively test, pilot, tune, and deliver pioneering work in machine intelligence.”
For more information about Genpact's intelligent automation and digital technology capabilities, see http://www.genpact.com/what-we-do/capabilities/digital. For details about Genpact’s Lean Digital approach, visit http://genpact.com/leandigital. To access a summary of HfS’ report, see: http://www.genpact.com/downloadable-content/hfs-blueprint-report-intelligent-automation-excerpt-october-2016.pdf.
About HfS Research
HfS Research is The Services Research Company™—the leading analyst authority and global community for business operations and IT services. The firm helps enterprises validate their global operating models with world-class research and peer networking. HfS Research coined the term The As-a-Service Economy to illustrate the challenges and opportunities facing enterprises needing to re-architect their operations to thrive in an age of digital disruption, while grappling with an increasingly complex global business environment. HfS created the Eight Ideals of Being As-a-Service as a guiding framework to help service buyers and providers address these challenges and seize the initiative.
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 75,000 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.
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