Genpact Newsletter: March 2013 Innovation and Operational Excellence - Two Sides of the Same Coin
In every business across the world, there is a search for the Holy Grail of "innovation". "Innovation" and "business operations" do not often appear in the same sentence, but our fundamental belief is that they should. Those companies who harness operations to enable innovation become competitively stronger as slow growth and volatility persists. Succeeding at both operational excellence and innovation at the same time, when growth is slow, seems difficult and part of the typical dilemma of "growth vs. margin" that many CXOs are facing.
Innovation as we have seen it in many client environments is often about driving a complete redesign of processes to "best-in-class". It begins with understanding what best-in-class looks like at a very granular level and creating a roadmap to get there. Genpact understands from the ground up how processes drive business results. Our hands-on experience across 4,700 processes for more than 15 years enabled us to create Genpact Smart Enterprise Processes (SEPSM
) - our proprietary framework for process effectiveness.
The other dimension of innovation that Genpact sees in many clients is the use of data to build insights. Data is becoming ubiquitous and real time, and being able to store, analyse and model this data to create a more predictive set of insights allows innovation to flourish. We combine our execution acumen with analytics and technology: together these power our customers to perform as an Intelligent Enterprise, simplifying processes and using their resources to the fullest.
Our featured whitepaper
this month explores how industrialized operations enable access to new growth opportunities, create resilience to hostile market or regulatory conditions, and facilitate product and business model innovation enterprise-wide.
Companies must foster a culture of innovation that begins at the business process level, striving toward best-in-class processes that permeate through people practices, the use of technology and the use of analytics for benchmarking and measurement. This will serve as the foundation for lasting innovation.