In the radically changing world, technology and innovative business ideas are altering the landscape of global market network. The sudden need to reduce cost, hold on to top line opportunities regarding procurement and services, driving best-in-class performance, and achieving superior business outcomes in sourcing and procurement are critical for an intelligent enterprises to succeed.
However, very few enterprises are able to achieve these objectives as a consequence of:
- A silo approach to procurement across geographies, functions and processes
- Limited visibility into best-in-class performance measures and benchmarks
- Focusing only on process efficiencies versus process effectiveness
- Unclear linkages between process drivers and business outcomes
- Using technology without process rigor
At Genpact, we employ our unique, scientific methodology of Smart Enterprise Processes (SEPSM) to implement best-in-class practices across sourcing and procurement organizations.
This methodology is supported by Genpact’s process rigor, operational and process excellence, analytics, re-engineering and technology solutions. SEPSM enables intelligent enterprises to take smarter decisions, extract maximum value from their source-to-pay processes, and deliver best-in-class performance for superior business outcomes. Such as reduced total cost of ownership (TCO), higher savings on spend, optimized working capital, and higher availability of materials and services.
At Genpact, we present end-to-end indirect source to pay services across various industries like Automotive, Consumer Products, Energy, Financial Services, Healthcare, Hi-Tech, Media and Pharma.
We have a significant expertise in the following spend categories– MRO and Capex, Logistics, Packaging, Services, Travel, Marketing, and Telecom. Spend Analysis
Category Management, Negotiation and Contracting
- Spend extraction, cleansing and categorization
- Opportunity assessment
- Spend cube
- Decision support information
- Supplier profiling & Market analysis
- Cost reduction idea generation – Opportunity Assessment, Should Cost Analysis (Price/Non-Price levers)
- Demand and Specification Management
- RFQ/E-Auction hosting and management
- Negotiation & Contract release
- Sourcing analytics and SRM services
- Master Data management – Catalog, vendor and item master, and contract master management
- Requisition to PO – Buyer need identification, planning, requisition creation and approval, and PO issue and dispatch
- Material Receipt
- Responsible/Sustainable Procurement
Analytics and KPI Reporting
- Invoice receipt and processing
- Resolution and payments
- Expense report processing
- Tax Compliance and Audits
- Mailroom Operations – Sorting/Indexing/Scanning & Archiving
Source To Pay Technology
- Compliance Reporting – Contract / Vendor / Regulatory/Transaction compliance i.e., Non PO, preferred vendor spend reports and Specific advisory
- Sourcing and Category Management – Price Variance Analysis, Supplier Aggregation Opportunities, Category Research reports etc
- Payables - Discount capture / Paid on time performance/First Pass Yield/Duplicate Payment Analysis
- Miscellaneous - Supplier Risk Assessment, Ongoing performance management etc
- End-to-end bundled and modular optimization solutions
- On-demand solutions through partnerships with best of breed e-procurement technology service providers
Our scientific methodology of Smart Enterprise Processes (SEPSM), to implement smarter processes, analytics, and best-in-class practices across sourcing and procurement organizations, enables intelligent enterprises to reduce costs and create superior business outcomes.
- Genpact is working with a Fortune 100 IT Software Company to transform their source to pay function and help achieve savings of over $160 million.
- For a leading energy company, Genpact provided spend analytics and sourcing for their key indirect spend categories, delivering 35% improvement in spend visibility and increased compliance
- Genpact has already completed 14 source-to-pay SEP assessment with identified business impact of over >$200 million. Key clients include:
- Large pharma company – Through the SEP assessment, Genpact identified improvement areas in the client’s S2P process, currently implementing a 2 year transformation plan with estimated $35 milllion savings and $300 million cash flow
- Global Automotive Manufacturer – Opportunities of $10 million identified through e-Procurement, workflow, spend analytics, eRFX and e-Auction technology.
- Fortune 100 IT Software Company - Up to $40 million TCO reduction opportunity was identified, which can be achieved through increased spend under management, contract visibility and compliance, organization realignment and usage of technological platforms
- Global financial services company – Genpact delivered best-in-class benchmarks and proposed an end to end process roadmap to the client for superior business performance.
Genpact is a Gold sponsor and Exhibitor at Ariba LIVE! 2013, Washington DC
May 6 - 8, 2013, Washington DC