The life sciences industry needs to adapt its business model and operations—and fast.
Leading pharma, biotech, and medical devices companies are looking to optimize global operations, including Finance & Accounting (F&A), Human Resources (HR), safety and regulatory processes, commercial operations, R&D operations, as well as IT functions. They can do this through business process transformation via technology, process reengineering, or analytics—enabled by the adoption of advanced operating models, for example, in shared services, outsourcing, or Global Business Services (GBS).
More than 10 of the top 25 global life sciences companies partner with Genpact for enterprise process optimization, process reengineering, analytics, and outsourcing for a number of functions, such as F&A, contact centers, procurement services, access and reimbursement, to name a few.
We design, transform, and run business process operations (including business process outsourcing [BPO], analytics, and technology services) for pharmaceutical, biotech, and medical devices companies. We work as a strategic partner with clients to establish the right delivery models.
Finance & Accounting
Genpact is helping leading life sciences companies’ financial organizations succeed in a volatile operating environment by enhancing their agility and efficiency, and by enabling them to deliver services that support innovative business models.
The services portfolio includes general accounting, financial planning and analysis, closing and reporting, accounts payable, order to cash, travel and expense, manufacturing accounting, and F&A consulting.
Leveraging Genpact’s extensive F&A experience and the vast pool of F&A specialists enables life sciences companies to accelerate cash flow and control costs, while ensuring compliance with stringent regulatory requirements.
Procurement/Source to Pay
With well-distributed global delivery locations and an extensive technology platform based on SAP, Emptoris, Ariba, IASTA, and Oracle-JD Edwards, Genpact’s experience in the source-to-pay process encompasses spend analytics, category strategy and development, vendor selection, negotiating, contracting, invoice processing, planning and purchase order issues, as well as compliance. The solution addresses the issue of tail-end spend by reducing indirect spend and putting the enterprise on the path to cost savings and greater returns.
Through Axis Risk Consulting, Genpact provides continuous control monitoring for real-time insight into the integrity of individual transactions and the overall effectiveness of controls, as well as data analytics support for compliance requirements pertaining to payments, SOX compliance, account reconciliation, contract audits, distributed controllership, and audit support.
Contract Management for Managed Markets
Genpact’s expertise in creating and managing robust and efficient processes based on controls and metrics ensures the timely and accurate completion of membership updates and chargeback adjudication. Our solutions provide a unified view of contract performance to drive increased savings and enhanced compliance. Learn more about our approach and services.
Genpact provides a comprehensive, flexible, and industrialized regulatory affairs solutions to drive compliance, speed to market, and cost efficiency including regulatory strategy, Chemistry Manufacturing Controls (CMC) and compliance, labeling and standard regulatory operations, post marketing maintenance, and non-clinical support and clinical regulatory support. Backed by proven process expertise, a global delivery model, and Lean and Six Sigma techniques, our team provides country specific regulatory expertise and local support for the regulatory submission requirements. Learn more about our approach and services.
Multi-channel Customer Experience
Genpact provides multi-channel customer experience solutions for medical information, sales and marketing, direct-to-consumer support, patient assistance programs (access and reimbursement), and patient support programs (specific disease, healthcare support).
Our team includes trained doctors, nurses, and pharmacists, who answer inquiries from patients, physicians, and other healthcare professionals. Our robust technology and tools support channels, such as web, text, and voice and leverage granular analytics, to improve service, reduce costs and deliver a superior customer experience. Learn more about our approach and services.
Learning, Marketing Communication, and Research Services
Our team of creative specialists provides brand-compliant targeted marketing solutions and helps to align business priorities with employee education through our Learn, Communicate, and Sell methodology. Our goal is to ensure companies get the most from their marketing initiatives with media monitoring and measurement services that include market research via social media and traditional channels and 24/7 monitoring support to augment conventional market research methods.
Genpact provides a comprehensive range of analytics services across the life sciences spectrum, bringing about efficiency and innovation. These solutions are tightly integrated with client operations and supplemented with vast therapeutic knowledge and data set expertise.
Genpact brings together four essential elements for integrated research and analytics solutions for internal and external organization stakeholders. The following are our key services:
- Marketing Analytics: End-to-end marketing analytics solutions throughout the marketing lifecycle
- Research and Social Media: Holistic understanding of customer behavior, purchase patterns, issues, awareness, attitudes, and social media monitoring
- Data Management: Real-time platforms and utilities, custom-made applications, technology agnostic advisory services
- Communication: End-to-end marketing communications creative support across print, web, and digital media
Genpact was named a “leader” in leading analyst firm IDC’s report, “IDC MarketScape: Worldwide Pharmaceutical Social Media Analytics 2012 Vendor Assessment.”
Human Resources Services
Our HR team serves more than half a million global employees with “Hire to Retire” services, establishing efficient workflows and reducing errors through the use of top-of-the-line productivity tools, process optimization, and our On Demand HRMS Platform on a pay-per-use model, designed to control costs and increase revenue. Genpact’s HR team is rich in external certifications from organizations such as Edexcel and the American Payroll Association.
Genpact improves the efficiency and effectiveness of business processes and enables more informed business decisions. Acting as an extension of our client’s organization, we optimize operational performance through the right mix of process, analytics, and technology.
By expanding on the expertise gained through our Lean Six Sigma heritage, Genpact has developed the science behind improved operational effectiveness—Smart Enterprise Processes (SEPSM). SEPSM helps identify the key metrics that drive the desired impact, and it determines gaps through granular data analysis and benchmarks. Subsequently, it pinpoints the operational practices that will improve those metrics, resulting in targeted interventions for maximizing process effectiveness and achieving tighter controls resulting in stringent regulatory compliance; faster time to market; increased revenues; and improved capacity and productivity for better cost management.
Data and information are the lifeblood of the life sciences industry, but interpreting those data requires the right people and processes. Through Smart Decision Solutions—comprising analytics and reengineering—life sciences enterprises can intelligently interpret the large amounts of data to which they have access and evolve their business practices.
Technology is the enabler of great processes. Genpact has a unique, process-centric approach to enterprise, analytical, cloud-enabled, mobile, and social collaboration technologies. The result is more agile, targeted, and cost effective use of technology. Additionally, Genpact is a leading provider of global service desk and remote infrastructure management solutions.