Genpact Invests in Groundbreaking Process-Related Analytics and Technology Research to Help Global Clients Work Smarter and Build More Intelligent Enterprises
Investments Include Open Innovation Efforts Leveraging Research from Leading Academia, Crowdsourced Experts and Recent Acquisitions
NEW YORK--Genpact Limited (NYSE: G), a global leader in business process and technology management, today announces that it is significantly boosting its innovation strategy of developing leading process-driven solutions for clients by working with external renowned experts.
In line with its focused but groundbreaking innovation strategy, Genpact has entered a three-year sponsorship of the Massachusetts Institute of Technology's (MIT) Center for Collective Intelligence (CCI), a top research program that brings together faculty from across MIT to conduct research on how new technologies are changing the way people deliver business outcomes on a global scale. Two areas of research focus include social media and geographically-distributed work, including crowdsourcing, which align with Genpact's strategy of using analytics to drive process innovation and harnessing human resources globally to help clients work smarter.
These activities further build on Genpact's recent acquisition of EmPower Research, enabling further advances of Genpact's unique "science of process" based on its Smart Enterprise Processes (SEPSM) framework for making business processes more effective. These investments supplement Genpact's more than 14 years of process expertise for 600 clients, domain expertise, advanced analytics and research competencies, millions of data sets, and insights that fortify an unprecedented process-centric innovation strategy - all driven to make Genpact's clients more intelligent enterprises.
Genpact also plans to further expand its open innovation ecosystem across the world with other partner institutions leveraging its existing SolutionXchange collaboration network. Established two years ago, SolutionXchange is Genpact's Web 2.0 platform that brings together clients and top industry experts around the globe to exchange ideas and collaborate for solving unique challenges related to business process management. The network has collaboratively helped solve more than 200 challenges around areas such as reduction in leakage for insurance claims, improving effectiveness of trade promotions strategies in consumer packaged goods (CPG), and routing optimization in transportation. SolutionXchange currently has over 2,000 global experts and partners in diverse areas including healthcare, analytics, retail merchandising and manufacturing.
More specifically, Genpact is applying these innovation investments in a number of areas, including examining the use of social media technology and methodologies in helping senior executives to understand and monitor investor sentiment or client satisfaction with the service they receive from their providers. Further application of the same strand of research can help detect trends of specific traded assets, such as certain commodities, which augments Genpact's current portfolio of solutions that enable CFOs and procurement organizations to optimize their reaction to market volatility. In all of these cases, technology is complemented by human intervention in detecting patterns and classifying outcomes as part of a structured process, thereby creating employment opportunities while optimizing the use of machines.
"Genpact is excited to invest in a cohesive strategy that combines our process management intellectual property with the resources and intellectual capital of an innovation ecosystem including MIT's CCI," said Gianni Giacomelli, senior vice president, Product Innovation, Genpact. "Many innovation efforts are unfortunately solely technology focused. Genpact believes that intelligent enterprises are built on the combination of smarter processes, analytics-based insights and technology which drive the smartest decisions and most powerful business outcomes."
Genpact Limited (NYSE: G), a global leader in business process and technology management services, has developed a science behind superior business processes. Genpact's unique process thought leadership captured in its Smart Enterprise Processes (SEPSM) framework, combined with deep domain expertise in multiple industry verticals, delivers better business outcomes across the enterprise, rather than simply providing efficiency gains within a single function. Genpact's Smart Decision Services deliver business insights to its clients through targeted analytics, reengineering expertise, and advanced risk management. Genpact makes technology more intelligent by embedding it with these process and data insights in addition to providing a wide range of technology services. Built on a legacy of serving GE for more than 14 years, Genpact enables companies worldwide to make smarter decisions, helping them drive revenue growth, compete more successfully, mitigate risk effectively, and improve operating margins and working capital. Driven by a passion for process and operational excellence based on its Lean and Six Sigma DNA, the company's 53,000+ professionals around the globe deliver world-class business process and technology management services everyday to its more than 600 clients - from a network of 51 delivery centers across 17 countries supporting more than 25 languages. For more information, visit www.genpact.com, Follow Genpact on Twitter, Facebook and LinkedIn.
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