Genpact is the world leader in the transformation of the Finance function, thanks to its 15+ years of experience industrializing Finance operations and streamlining overall Finance processes end-to-end - including Business Process Outsourcing BPO but also transforming finance shared services and enabling the Global Business Services (GBS) journey. Our experience is crystallized in our proprietary Smart Enterprise Processes (SEPSM) framework.
With the largest Finance and Accounting (F&A) practice in the world, built on 15 years’ experience and the power of Lean Six Sigma, Genpact is well equipped to help you turn these challenges into opportunities to create more intelligent Finance organizations. Since spinning off from GE in 2006, we have continued to apply our groundbreaking Six Sigma methodologies to finance and accounting processes, helping Finance drive value across the entire enterprise with standardized processes that are faster, more transparent, more compliant, and that deliver actionable insights for better decision-making.
Genpact delivers a wide range of Finance outsourcing services to Fortune 500 companies around the world. Our proprietary Smart Enterprise Processes (SEPSM) framework combines our market-leading smarter processes with deep analytics capabilities and targeted technologies to effect true Finance transformation, producing measurable and significant bottom-line business impact.
Our F&A relationships with clients are characterized by cost savings, process innovation, and operational excellence, all within a robust compliance framework. We help them move beyond transactional F&A services, optimizing not just processes, but outcomes. Our Finance Business Process Optimization (BPO) solutions provide end-to-end transparency, break down operational silos, and utilize sensible global operating models that are both agile and effective in serving your customers wherever they are. For generating measureable bottom-line impact, our approach is unequaled.
Our Finance and Accounting solutions lead the market
Helping our clients select, apply, and run Global Business Service models to create industrialized operations is core to Genpact’s F&A outsourcing and transformational services―and the market has noticed. Market analysts consistently award us top rankings:
For the third year in a row, Genpact has been positioned as both a Leader and a Star Performer in the Everest Group PEAK Matrix Assessment, published in the August 2013 Finance and Accounting Outsourcing (FAO) Service Provider Landscape report.
For the fourth consecutive year, Genpact has been positioned in the Leaders quadrant for F&A services by Gartner, Inc. in its report published May 29, 2013, “Magic Quadrant for Finance and Accounting BPO.”
HfS Research’s "Blueprint Report on Finance and Accounting BPO" positions Genpact among the top worldwide F&A service providers, ranking the company highly for its execution abilities in successfully servicing a wide variety of longstanding clients across the high-end and mid-market segments in key vertical industries.
Our F&A BPO solutions have won multiple awards. Chief Financial Officers (CFOs) use our CFO Barometer to assess their current operations, keep an eye on industry trends, and keep abreast of ways to continuously drive greater value through finance transformation.
Our Finance and Accounting services include Accounts Payable, General Accounting, Accounting, Closing & Reporting (ACR), Treasury, Tax Services, Financial Planning & Analysis, Finance & Accounting Tools, Recovery Audit Services, and Governance.
We also deliver high-end F&A services such as Product Cost Accounting, Continuous Transaction Monitoring, Finance Business Intelligence, and support to Integrated Business Planning and Supplier Audit and Recovery.
We drive transformation using many proprietary tools, such as our cloud-based Akritiv solution. This end-to-end platform for all F&A processes unlocks working capital, boosts productivity, and ensures compliance through standardized processes, global access to a single source of information, and user-configurable workflows that shorten cycle times, reduce disputes, and drive out bad debt, while speeding collections.
Our F&A services, including F&A outsourcing, are delivered from centers in Europe, India, China, and Mexico. Extensive expertise in adjacent areas—procurement and supply chain (such as inventory optimization and service contracts analytics for large equipment), enterprise application services, analytics and collections, among others—enables us to help clients identify additional opportunities so they can enhance and derive greater strategic value from their F&A capabilities.
We are the experts in finance transformation
F&A BPO is one of Genpact’s core strengths. More than 17,000 experienced Genpact staff members provide F&A services to over 130 clients in 30 languages, from 37 delivery centers around the world. Leading industry analysts such as Gartner, HfS, and Everest have rated our F&A outsourcing capabilities among the very best in the world.
Our finance outsourcing services span end-to-end solutions for Accounts Payable (AP), Order to Cash (O2C) and Record to Report (R2R). All of our offerings leverage our process-based, analytics-driven Smart Enterprise Processes (SEPSM) approach, which enables superior business outcomes while containing upfront cost and complexity. Our origins as part of GE embedded Lean Six Sigma deep into our DNA. This heritage is further enhanced by our experience in delivering global F&A outsourcing services to companies around the world for the last 15 years—a superb foundation for understanding how to simplify, transform, and run F&A business processes and operations.
Enhance the effectiveness of your finance operations
Stay up to date on Genpact’s approach to meeting market challenges with transformative finance outsourcing solutions. Our 15 years of experience in delivering F&A outsourcing services is the foundation for thought-provoking leadership content like these that provide insight into the most effective means of creating value across your enterprise.
The 10 keys to optimizing a finance operating model
To achieve quantum gains in productivity and effectiveness from finance transformation initiatives, companies must drive improvements across ten dimensions that jointly define the finance operating model.
Finance enters the age of industrialized business services Going beyond easy savings: new horizons for global processes
Today's volatile economy demands greater agility from business process operations. By addressing the three critical areas of talent, technology, and process management, CFOs can effect finance transformation capable of supporting “industrialized” business operations across a wide range of support functions.
Finance BPO takes experience, an effective global operating model, and the ability to look deep into existing processes to understand how to drive improvement. Genpact’s finance outsourcing drives substantial end-to-end business impact. Cost and transactional efficiency matter, but only as a means of achieving greater effectiveness in pursuing our clients’ strategic ends. We offer our clients the ability to radically improve their decision-making, both locally and globally. Moreover, we do this, not just as it relates to improving F&A process streams, but for all those business processes that flow through and interact with Finance and Accounting.
We believe an intelligent enterprise is innovative, connected, adaptive, and globally effective in all of its operations. Our experience in helping companies become more intelligent through Finance transformation includes significant successes, such as the following:
Driving business impact for a healthcare client
A healthcare client lost 3% to 10% of healthcare spending combating fraud and abuse, with one in five claims paid erroneously, adding up to potential revenue leakage of US$6 million per day. Genpact’s F&A outsourcing solutions include end-to-end claims management, which for this client produced US$160 million in business impact by improving the accuracy of clinical reviews to 98% and reducing the claims processing cycle from 21 days to 1.5.
Global on-demand reporting and analytics for a U.S. fleet operator
The company had 1,700 field staff spread across 350 locations in the United States, handling 600 data requests per month for billing, fleet, receivables, and fuel reports. Genpact implemented a web-based portal to receive and track all requests, and improved existing reports to reduce ad hoc requests. This increased productivity by 25%, standardized reporting, and improved the 24-hour turnaround time metric for all requests to 99%.
Manage changing regulations for a global credit card company
Card Act changes put 40% of industry profits at risk and included new regulations regarding late fees, grace days, and asset re-pricing. Genpact’s F&A outsourcing includes risk management and detailed analytics capabilities, which we leveraged to run extensive simulations on the Profit and Loss (P&L) impact of the new regulations and to renegotiate deals with private-label issuers. The client benefited from improved compliance tracking, product pricing and deals scenarios, and a highly flexible P&L impact simulator.
Acquisition integration for a Global Financial Services business
After a US$15 billion acquisition, this company found itself with eight financial systems and a variety of close cycles and accounting policies. Genpact integrated the various sub-ledgers and general ledgers and created a strategy for converting systems and aligning policies. Our solution reduced the close cycle by four days, eliminated the acquired company’s systems, and delivered new SEC reporting data.
Best-in-class global process and technology design for a global brewery major
Inorganic growth resulted in non-standard processes and ERP systems, with client staff spending 80% of their time on transactional work. Genpact used our transformational Smart Enterprise Processes (SEPSM) framework to assess operations in 13 countries and design a new operating model that produced US$200 million in working capital impact, US$50 million of which was delivered in the first six months after the transition.
Read more about the business impact we have generated for some of our clients in the individual service pages, or visit the CFO Barometer to access insights on a wide range of industry challenges, solutions, and trends that could impact your organization.