ALDI SÜD is partnering with Genpact to accelerate and support the continued transformation of its retail operations in the U.S. and Australia.
Challenge
ALDI SÜD was looking to accelerate agility and cost leadership and aid in continued transformation in the US and Australia markets.
Solution
Genpact will use its data, tech, and AI solutions to streamline operations and help ALDI achieve significant efficiency improvements. Specifically, ALDI will harness Genpact's AI-first approach and digital expertise to help maximize the effectiveness and return on investment from existing deployed technology platforms like S/4HANA, Ariba, Blackline, and ServiceNow.
Impact
Our AI-first approach for ALDI's business services aims to achieve a front-to-middle-to-back transformation to create exceptional customer experiences and drive competitive growth.
Rightpoint, a Genpact company, used gen AI to enhance the functionality of Novva's autonomous security robots, making them more engaging while bolstering the safety and efficiency of Novva's operations.
Challenge
Novva wanted to enhance the capabilities of its fleet of autonomous security robots that physically patrol and monitor critical assets by integrating the robots' capabilities with its existing systems and improving security and user experiences.
Solution
We used Rightpoint's Total Experience approach to optimize the robots' performance based on user feedback. We integrated generative AI using OpenAI's ChatGPT API to enhance the robots' conversational, facial recognition, anomaly detection, and vehicle license plate monitoring abilities.
Impact
From Novva's main offices to the parking lots, the robots enable efficiency, precision, and heightened security. Using generative AI has positioned the company as an industry leader in data center security.
Volkswagen Financial Services' customer service department is using Genpact's gen-AI-powered chatbot, Cora Knowledge Assist, to improve employee onboarding.
Challenge
With 70% of its business involving voice/nonvoice critical processes and more than 600 standard operating procedures (SOPs), the client's customer service team was facing long training times and "time to productive" for new joiners, as well as dependency on subject matter experts (SMEs) to resolve queries.
Solution
Cora Knowledge Assist ingests a vast repository of enterprise knowledge and constantly learns to deliver human-like contextual conversations. Built on the client environment and integrated with Microsoft Teams, the scalable model is based on responsible AI principles.
Impact
An AI-powered customer service solution for Amazon device customers.
Challenge
Amazon elected to outsource its Amazon Device Repair services for devices that are out of warranty. This includes managing spare parts, handling service management operations, and customer service.
Solution
Genpact used AI and the Amazon Connect omnichannel contact center service to help Amazon outsource its device repair service using Genpact’s Amazon Device Repair solution.
The solution integrates AI-powered chatbots and enables logistics management and a repair partner network. On top of this, a post-guarantee period repair rule establishes the creation of an online repair matchmaking platform for consumers in Europe.
Impact
The solution provides benefits such as:
Dropbox cuts its procurement cycle by 50% by transforming its procurement, sourcing, and case management operations with Genpact and ServiceNow, moving it a step closer to leveraging gen AI to unlock value.
Challenge
Replace disconnected, manual processes with a user-friendly, end-to-end, automatically orchestrated, integrated system.
Solution
Genpact's Source-to-Pay offering used ServiceNow's AI capabilities to build a highly efficient, unified, cross-functional, and transparent purchasing experience for all employees and vendors.
Impact
A 50% reduction in the procurement cycle, 1,000-plus ERP and risk assessments automated, and over 99% compliance achieved.
Genpact is helping Apex Fintech Solutions detect, investigate, and prevent financial crime more effectively with riskCanvas™, its cloud-based financial crime software suite, powered by gen AI.
Challenge
Managing large amounts of data across 200-plus clients and 24 million brokerage accounts while relying on off-the-shelf systems that required significant manual effort and triggered false positives to the tune of 80% of all alerts.
Solution
We combined riskCanvas™, Genpact's proprietary cloud-based financial crime software suite, with Amazon Bedrock's secure data handling to meet Apex's unique transaction monitoring, case management, and entity risk scoring needs. This enables analysts to produce suspicious activity reports at the click of a button.
Impact
With an integrated system, Apex gained a single view of the customer, a 45% reduction in the number of false positives, and a 60% reduction in the time required to resolve each case, leading to a boost in employee morale.
Leveraging Gen AI, Genpact enhanced invoice processing for a global company by automating comprehension and categorization, resulting in more efficient operations and measurable improvements in supplier satisfaction.
Challenge
A global healthcare services and products company manually processed approximately 20,000 emails each month. This time-intensive task resulted in supplier dissatisfaction and frequent escalations due to inefficient prioritization and inconsistent responses
Solution
Genpact implemented gen AI to automate email categorization and prioritization, generating automated responses for a measurable percentage of inquiries to streamline operations. This strategic deployment of AI ensured that requests were efficiently managed and addressed with standardized responses, drastically reducing manual effort
Impact
Automation enabled by gen AI facilitated responses for 20-30% of emails. This reduced supplier dissatisfaction, improved communication prioritization, and helped lower escalation rates while enhancing efficiency in email management
Genpact implemented AI to enhance a consumer insight firm’s product assortment optimization, unlocking measurable improvements in revenue and cost efficiencies
Challenge
Manual data refreshes and product coding meant the firm struggled to offer the right product sets to consumers, denting customer satisfaction
Solution
Genpact implemented an AI-driven solution combining Python, machine learning, and deep learning algorithms to automate the placement of new product codes. This reduced system dependency and standardized the output format, enhancing efficiency and accuracy
Impact
The automated process generated an incremental revenue of $99,000 year-to-date, with projections suggesting the potential for an additional $150,000, subject to continued optimization and market conditions. Additionally, we created a productivity benefit of $100,000, underscoring the financial and operational benefits of AI integration
Poor planning and inaccurate demand signals were addressed with AI-powered tools, enhanced visibility, and comprehensive planning strategies, enabling measurable improvements in efficiency and growth.
Challenge
Solution
Impact
A leading automobile manufacturer joins Genpact to transform marketing with AI-driven insights, raising industry standards and gaining a competitive edge.
Challenge
Missing a portal for knowledge sharing, the marketing team sought an AI-driven solution to centralize data, automate insights, and improve collaboration
Solution
Genpact partnered with the automaker to create an AI-powered solution that streamlines market data collection, generates automated battle cards, and uses a generative AI chatbot to retrieve information quickly. This system integrates with existing dashboards, delivering real-time updates and automated alerts to enhance decision making.
Impact
This collaboration is advancing competitive intelligence in the automotive industry, enabling faster competitor tracking and more strategic marketing decisions. Key outcomes include:
By leveraging GenAI-powered virtual assistants, a pharma company improved process efficiency, reduced training time, and enhanced the customer experience, as reflected in measurable performance metrics.
Challenge
Solution
Impact
Implementation of the virtual assistance system improved query resolution times and reduced training time for new team members by up to 50%. It also lessened reliance on colleagues and subject matter experts for process-related information, leading to measurable improvements in customer satisfaction
Genpact partnered with the client to modernize its fuel card audit process using AI and automation to improve anomaly detection, efficiency, and cost savings.
Challenge
Solution
Genpact conducted an analytics assessment and created custom algorithms to identify exceptions in fueling transactions. We automated the audit process using RPA and the next phase will see the implementation of data visualization dashboards to deliver strategic insights and enable tactical reporting.
Impact
The solution delivered tangible outcomes, saving 6,000 hours of manual work annually while enhancing control over fuel card transactions. Audit coverage increased from less than 0.1% to 100%, significantly reducing revenue leakages and contributing to client’s bottom line. Our solution lays the foundation for the future implementation of AI and machine learning to predict fuel card transactions anomalies, driving continuous business value.
A global food services company transformed its complex accounts payable into a smooth, speedy process that strengthens accuracy, visibility, and reliability, thanks to the Genpact AP Suite
Challenge
The company was processing 8.5 million invoices annually, with 50,000 handled manually, leading to crippling inefficiencies. With only 40% auto-posting rates, its accounts payable process was hobbled by time delays, limited visibility, and resource drain, hampering their ability to scale
Solution
Genpact deployed Genpact AP Capture, piloting with 10 key suppliers, to dynamically classify and prioritize invoices, capture critical fields automatically, and match them with purchase orders
Impact
The transformation slashed the number of steps from six to two and cut invoice processing time to an average of 30 seconds. Manual efforts dropped by up to an astounding 90% in some cases, enabling employees to focus on higher-value tasks. The solution also helped identify early payment discounts and elevated auto-posting rates to up to 60%. With up to 99% accuracy and nearly 60% automated invoice processing achieved, the company redefined its accounts payable process as a model of efficiency and reliability
Genpact leveraged AI to revolutionize client's sales data analysis, driving enhanced predictability and growth.
Challenge
The client faced a significant challenge in managing and analyzing their sales funnel data. The primary pain points were the lack of accurate sales data, difficulty in identifying the right sales metrics, and the need for enhanced predictability in sales outcomes
Solution
Genpact implemented an AI-driven solution that connected and maintained data quality while introducing new analytical metrics. These metrics focused on product upsell, cross-sell, renewal indicator, churn prediction, opportunity scoring, providing a comprehensive framework for data-driven decision-making.
Impact
The implementation led to actionable insights and strategic recommendations for the firm's sales team. This included identifying new cross-sell and upsell opportunities, more effective renewal strategies, and efficient opportunity prioritization, ultimately driving sales growth and improving overall sales predictability.
Through an AI-powered audit of the earned income processes, Genpact helped reduce financial leakages, boosted control assurance, and unlocked profit and loss (P&L) savings
Challenge
The client faced a minefield of financial leakages due to high transaction volumes, intricate contracts, and a web of supplier allowances and rebates known as earned income (EI). Complex price deviations and opaque payback structures amplified the challenge
Solution
With an AI-led approach and deep analysis of historical transactions, powered by Microsoft Azure and Databricks, we unraveled the client’s EI processes. Our AI-powered post-payment audit solution helped scan unstructured supplier contracts against multiple data sets to uncover anomalies. From there, our audit experts validated the findings, pinpointing failure points, root causes, and savings opportunities. These insights helped us implement robust controls, address root causes, and prevent future leakages
Impact
The control performance was benchmarked against specific insights generated from EI analysis. Our work helped the client generate P&L savings over $1 million. Over time, the company saw financial leakages drop by ~70%, thanks to fixing root causes and strengthening control mechanisms
Genpact helped the client leverage AI-driven language translation technologies, significantly reducing operational costs through strategic process decoupling
Challenge
To cut cost per invoice (CPI), the client moved operations from costly Europe to India, tackling regional language barriers to ensure quality and efficiency remained intact
Solution
Genpact used AI-driven language tools like gen AI for file translation, Language IO for queries, and Outlook translation, promoting seamless communication and continuity across global teams
Impact
The firm achieved a cost reduction of $137.5K, demonstrating the combined impact of AI and business process outsourcing in optimizing global operations and driving financial efficiency
Genpact helped enhance the client’s compliance process with AI driven error detection, improving accuracy and increasing the team efficiency by over 50%
Challenge
Compliance trends at 85% with manual, reactive risk checks consuming 25% daily effort, leading to delays, low accuracy, and lack of proactive detection
Solution
Genpact helped modernize client's compliance program by integrating AI, transforming static rule-based checks into dynamic, predictive insights. With up to 90% accuracy, it uncovers hidden risks, creates smarter rules, drives proactive and high-impact compliance monitoring
Impact
Sharpening CFO predictions and decision making at a global consumer goods firm.
Challenge
Solution
Genpact CFO Actions Hub enables the finance team with:
Impact
A leading Japanese consumer products company applied advanced AI solutions to turn a complex logistical challenge into a $100 million opportunity.
Challenge
The company manages over 40 brands and 600 products, with 50% of sales coming from about one million vending machines that need to be kept stocked and operational across Japan. This complexity was compounded by a reliance on manual processes, tribal knowledge, and outdated systems, leading to inefficiencies and high operational costs.
Solution
Genpact, in collaboration with ketteQ, introduced a cutting-edge intelligent planning solution using AI models to continuously analyze inventory levels and forecast needs. An AI-driven digital workflow system was implemented to steer and guide the onsite agents on what to do at each revenue producing asset.
Impact
Applied AI innovations have modernized and streamlined field service operations, transforming the business model into a profit center and accelerating growth with projected savings of $100 million.
AI and cloud fuel insurer’s expansion into new markets.
Challenge
The insurer wanted to reinvent itself as a cloud-based provider of cloud-based life insurance services. But it needed to develop an innovative product machine, build personalized distribution relationships, and redefine experiences – all at top speed.
Solution
Genpact partnered with the insurer to establish a cloud-based tech ecosystem that integrates AI and analytics. The platform provides a 360-degree view of the customer and creates a unified experience for agents and customers. And with an AI embedded in the omnichannel contact center service, the solution supports seamless customer interactions.
Impact
The insurer adopted the platform and launched new products in just 10 months – and at 80% of the budgeted cost. And new business from these products has flowed in at 25% over target. Our collaboration also provides deep insights into operations, customer behavior, market trends, and risk assessment – all essential for greater growth and success.
Genpact is helping Apex Fintech Solutions detect, investigate, and prevent financial crime more effectively with riskCanvas™, its cloud-based financial crime software suite, powered by gen AI.
Challenge
Managing large amounts of data across 200-plus clients and 24 million brokerage accounts while relying on off-the-shelf systems that required significant manual effort and triggered false positives to the tune of 80% of all alerts.
Solution
We combined riskCanvas™, Genpact's proprietary cloud-based financial crime software suite, with Amazon Bedrock's secure data handling to meet Apex's unique transaction monitoring, case management, and entity risk scoring needs. This enables analysts to produce suspicious activity reports at the click of a button.
Impact
With an integrated system, Apex gained a single view of the customer, a 45% reduction in the number of false positives, and a 60% reduction in the time required to resolve each case, leading to a boost in employee morale.
Genpact revolutionized a leading biotech company’s .NET application suite by using gen AI to develop comprehensive documentation, significantly enhancing understanding and modernization of its systems.
Challenge
The client’s suite of .NET applications lacked existing documentation. This made it difficult for its team to comprehend the structure, functionality, and dependencies of the suite. Additionally, critical business processes depended on subject matter experts with limited written knowledge, creating bottlenecks in gathering insights. The client needed a comprehensive understanding of the system's architecture and processes within a tight four-week timeframe to build a modernization point of view (POV).
Solution
Genpact used its AI-powered Cora Code GenY to generate detailed documentation on key features and components of the application, addressing the documentation deficit. A chatbot-like application was also created using Cora Code GenY to provide real-time insights on the flow and architecture and answering technical questions on demand. This approach enabled the client to swiftly access crucial information about the application's processes and dependencies, facilitating faster decision-making for the modernization POV.
Impact
Genpact's solution enabled the company to swiftly improve its understanding of its .NET applications, reducing dependency on subject matter experts and expediting the modernization process. Consequently, Genpact empowered the firm’s employees with the tools necessary to drive their strategic modernization efforts, positioning them for future success.
Genpact used AI to transform the dispute resolution process, significantly improving efficiency and cash flows.
Challenge
The client struggled to manually process thousands of pricing and trade promotions management (TPM) disputes, resulting in delayed resolutions, customer dissatisfaction, and limited visibility into cash flows.
Solution
We introduced a gen AI-powered solution for end-to-end processing of pricing and TPM disputes. By integrating RPA for file management, Power BI dashboards for recommendations on dispute validation, and gen AI for dispute processing, the solution streamlines upstream and downstream processes.
Impact
Our work aims to reduce customer wait times for the approval and validation steps by 30% and accelerate €1.5 million of cash flow thanks to an improved turnaround time across all countries. Customer Net Promoter Scores also improved due to decreased waiting times and greater customer satisfaction.
In a savvy move, a leading global insurance company implemented AI to elevate the claims process to new heights, improving speed, transparency, and accuracy.
Challenge
As the volume of daily claims grew, the client recognized that its property contents claims processing is highly manual and had become increasingly inefficient, leading to delays and a lack of clear updates for customers.
Solution
Combining our strong data, technology, and process expertise with a robust partnership with Amazon Web Services, we developed an innovative AI solution that streamlined the entire claims process—from real-time pricing to faster and more accurate claim resolutions. Plus, through API integration with Amazon Bedrock and Amazon's Business Prime Services, we transformed the end-to-end experience, allowing customers to transition from claims resolution to an effortless shopping journey.
Impact
The strategic implementation of AI reduced claims processing time by 80-85%, allowing the firm to settle claims from days to hours with over 50% reduction in the cost of operations. Our AI solution also improved accuracy by 2-4%, translating to millions of dollars in indemnity accuracy. In a fiercely competitive landscape, the company has gained a competitive advantage, enhancing both employee and customer satisfaction while positioning itself as a leader in innovation.
A leading investment bank, in partnership with Genpact, successfully transformed its data management strategy, leading to enhanced regulatory compliance and streamlined operational efficiency. This innovative overhaul set new standards in data governance and integration.
Challenge
The bank faced challenges due to fragmented risk and finance data, resulting in poor data governance and inefficiencies in regulatory reporting. They needed a unified system of record, improved process efficiency, and robust data management practices.
Solution
Genpact used advanced AI technologies to integrate risk and finance data, simplify business processes, and establish a comprehensive data foundation. Implementations included SAP S/4 HANA for legacy system consolidation and robust data governance frameworks to enhance data quality and lineage.
Impact
Genpact used AI to transform the company's helpdesk operations to improve response efficiency and lower costs.
Challenge
The helpdesk handled around 11,400 queries monthly from suppliers and business users. Manually responding to queries by email after due diligence led to an average response time of 3 days.
Solution
We implemented a helpdesk solution powered by gen AI and supported by robotic process automation (RPA). Gen AI extracts query details from the tickets and formulates responses while incorporating sentiments from the query email and the organization's communication guidelines. RPA extracts relevant data from multiple systems to complete the response.
Impact
Our work saved the equivalent hours of 8 full-time employees and generated savings of approximately $1.09 million over 5 years. This transformation improved resource allocation and helped the company respond faster and more accurately to global queries, setting a new standard for helpdesk operations.
A global asset manager is working with Genpact to use gen AI to improve the behavior-driven development (BDD) testing process, eliminating human error, improving accuracy, and boosting process productivity by 30%.
Challenge
Product managers and QAs were manually creating user stories and test cases, leading to human error and bias, creating incomplete, unreliable, and inaccurate testing scenarios. As the complexity of each application grew, the time and effort required for testing also grew. The testing life cycle and test generation process also lacked traceability.
Solution
Genpact stepped in to redesign the BDD testing process and introduce gen AI to create automated user stories and test cases based on user requirements.
Impact
Automated BDD testing led to quicker turnaround times, an almost 30% increase in productivity, and better traceability of user stories and test cases to their respective requirements.
Genpact will help the client transform its deduction management with AI, recovering millions annually and preventing future revenue leaks.
Challenge
The client faced financial leakages of $200 million annually in North America, requiring over 470,000 transaction reviews by more than 40 full-time employees.
Solution
We will deploy 6 AI-driven modules to streamline coding, validation, recovery tracking, bill back, and insights. These modules will reduce deduction leakages, improve recoveries, and allow the team to implement best practices on processed transactions.
Impact
The solution will help the firm achieve potential annual recoveries and preventions exceeding $9 million thanks to actionable insights and improved recoveries on closed deductions powered by AI.
Genpact is enabling the bank to use gen AI to reduce the time it takes to store, maintain, and update data across the company, reducing operations time by 42%.
Challenge
The company's server build team was facing challenges with manual provisioning, difficulty adapting to dynamic requirements, time and resource constraints, and complex infrastructure management.
Solution
Genpact helped the client generate Ansible Playbooks using gen-AI-powered prompt engineering that automated infrastructure orchestration, enabled dynamic scaling, and facilitated continuous integration and deployment.
Impact
Enhanced efficiency and time management by reducing operations time by 42% (from 420 minutes to 180 minutes) and improved productivity by 45% in the development effort. Over the entire year this initial venture saved the client over $30,000. More significantly, it opened up the possibility of much larger projects that can utilize gen AI to efficiently do code conversions and end to end business enhancements.
Genpact used a digital and AI-first approach to enhance the insurer’s processes with an innovative, proprietary digital solution designed to streamline and automate.
Challenge
Solution
Impact
An AI-powered virtual assistant guides supply chain agents at a leading IT services provider and synchronizes actions across finance, supply chain, and sales.
Challenge
Tech distribution supply chains are often complex and fragmented due to their many shipment methods, minimal inventory strategies, and unclear processes. This led to revenue prediction challenges, customer experience (CX) issues, and missed opportunities for sales reps.
Solution
We developed an AI-powered virtual assistant to help supply chain agents determine the right action and communication strategies at specific fulfillment stages. By synchronizing the finance, supply chain, and sales teams, we improved overall efficiency, too.
Impact
An entertainment giant is using gen AI to arm chat agents with contextualized, real-time data to improve the customer experience for its amusement park visitors.
Challenge
With millions of customer interactions via chats and app reviews, a leading amusement park was looking to better capture the data to empower chat agents and workers with contextualized and real-time information on the ideal responses.
Solution
Genpact deployed a custom fine-tuned tiny language model with security and privacy controls that incorporated all historical chat data and intent information along with real-time updates. The solution helped analyze customer data, identify patterns, and guide customer service agents' responses in real time, enabling unprecedented levels of personalization.
Impact
With this new information at their fingertips, agents exceeded customer expectations and offered new products and services tailored to each customer's preferences. Visitors received hypercontextualized responses to their queries, which improved their experience and enhanced agent productivity.
By building an AI center of excellence, a leading business and technology services provider is transforming key finance functions with Genpact by its side.
Challenge
Manual processes across finance were time-consuming and complex, affecting accuracy and efficiency. But the company was also struggling to automate unbilled receivables, dispute resolutions, and intercompany accounts payable and accounts receivable.
Solution
With our deep finance knowledge, data engineering skills, and experience in deploying AI, we built a finance AI center of excellence to automate and streamline finance operations.
Impact
The tech services company is set to reduce its unbilled receivables by up to $120 million and improve cash flow.
Genpact partnered with a global medical technology company to accelerate how it identifies and resolves technical support issues and improve its customer interactions. How? NextGen Support, a gen AI application.
Challenge
Solution
Our gen-AI-powered solution for technical support agents identifies and resolves issues faster with:
Impact
Genpact helped a leading manufacturer run a proof of concept (POC) project for using a GPT-based LLM covering research documents to improve the productivity of its product research teams.
Challenge
The client was looking to improve the productivity of its R&D staff working on product research by utilizing prior research documents, tech memos, and more.
Solution
Genpact partnered with the client's team to create a POC for a GPT-3.5-based LLM that will assist R&D teams.
Impact
The solution enabled the manufacturer to increase the productivity of over 250 research scientists, utilizing more than 10,000 research documents. This was expected to improve efficiency and accelerate innovation within the client's R&D department.
Genpact has deployed its gen-AI-driven solution, Cora Knowledge Assist, to enhance the knowledge transfer process from experienced to new employees, reducing the need for repeated contact and, consequently, improving overall CSAT scores.
Challenge
In this client's team, around 90% of agent mistakes are due to knowledge and communication gaps, and about 20% of cases have extended handle times because they rely on experts. What's more, new hires typically take roughly seven weeks to reach proficiency.
Solution
Genpact deployed an AI coach and digitized training-needs identification to improve pre-interaction training. During interactions, LLM training and virtual SMEs provide appropriate responses and product knowledge. Post-interaction, automated tests and performance nudges offer personalized evaluations and insights.
Impact
Customer satisfaction has increased by 3.6 percentage points, while efficiency, measured by average handle time, has decreased by 1%. Additionally, customer effort, indicated by repeat contacts, has dropped by 1.2 percentage points.
Genpact’s partnership with a sales and marketing tech firm is transforming consumer goods operations at scale. Advanced technology enables smarter, faster business decisions.
Challenge
The company needed greater agility to face market shifts, drive efficiencies, and create capacity that it could reinvest in its core capabilities to accelerate growth.
Solution
Genpact is building an AI-enabled and experience-led digital platform to automate back-office processes, including order to cash, contract management, trade promotion management, vendor-managed inventory support, call-center services, electronic data interchange, and data synchronization.
Impact
This platform will create scale, flexibility, and adaptability by streamlining processes, reducing complexities and expenses. And it’s enhancing collaboration and efficiency across organizations too.
Genpact is helping a windows and doors manufacturer use generative AI to aid employees in capturing complex information in data repositories that can then be searched by a digital query-based chatbot.
Challenge
The client's manual process of capturing actions and information searching led to backlogs and escalations due to untimely actions. Significant time was wasted on nonanalytical tasks like consolidating actions and assigning owners.
Solution
We automated the actions file to capture actions using gen AI. We also implemented a digital query-based chatbot to search for information faster by asking simple questions.
Impact
Created a data repository of the information taken from client meetings to enable the use of a chatbot, decreasing the time spent searching for information by 50 hours per month on average (calculated based on usage of about 20 to 25 people in total, 2 to 3 times a week).
Genpact's AI solution, Cora LiveSpread, is transforming the client's highly manual and time-consuming financial spreading process to bring about increased productivity, accuracy, and customer satisfaction.
Challenge
A manual-intensive process was leading to low productivity and multiple spreading requirements for a high annual volume of about 23,000+ financials. Moreover, dependence on individual analyst interpretation led to inconsistency across periods, portfolios, and analysts.
Solution
Genpact implemented Cora LiveSpread, an AI-powered solution that extracted and interpreted financial statements. The solution uses natural language processing (NLP) to scan notes to accounts and incorporate analyst-specific adjustments. The tool's microservices-based architecture allows users to create customizable templates with agile deployment cycles, offering a robust and scalable framework capable of handling multiple users simultaneously.
Impact
The collaboration with Genpact led to significant benefits for the client, including annual cost savings of around $100,000, a 45% reduction in touch time, faster loan processing, automated spreading with 100% accuracy, increased internal capacity, process standardization, and improved customer satisfaction.
A leading life insurance corporation has brought Genpact on board to help it establish a generative AI-powered solution to reduce time spent on data collation and processing activities across multiple systems.
Challenge
The life insurance company struggled with multiple legacy systems, complex products, and a heavy reliance on undocumented knowledge that hindered its ability to provide optimal customer experiences and meet regulatory requirements.
Solution
Genpact is implementing a cutting-edge gen AI solution that aims to serve as a single natural language interface. This will allow the company to focus on customer, employee, regulator, and investor outcomes, simplifying processes and enhancing efficiency.
Impact
It's expected to dramatically reduce the operating time for processes that have a high-information collation and processing time, such as for legal and actuarial tasks. This will result in improved productivity, faster time to action, and better overall performance.
A global financial services company partnered with Genpact to leverage generative AI and LLMs to transform its knowledge management by developing a chatbot, enhancing search capabilities, and preparing the firm's data for AI.
Challenge
Improving the effectiveness and productivity of financial advisors and customer service in addressing client queries by providing accurate, timely, and relevant content by embedding an employee-facing chatbot with gen AI.
Solution
The client partnered with Genpact to implement an OpenAI-powered virtual assistant as well as improve the assistant's performance.
Impact
Enables financial advisors to increase assets under management by freeing up time for client-focused interactions. It improves efficiency in addressing generic client queries through human-like conversational responses, incorporating expertise from research analysts, product experts, and portfolio managers to offer dynamic answers beyond traditional FAQs.
The relentless pursuit of a world that works better for people
The relentless pursuit of a world that works better for people
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