NEW YORK--(BUSINESS WIRE)--Genpact Limited (NYSE: G), a global leader in business process and technology management, announces new offerings based on the Business Process as a Service (BPaaS) delivery model.
Genpact’s BPaaS strategy focuses on providing comprehensive business process solutions that incorporate technology, people, process and smart analytics wrapped in a simple “pay-as-you-go” commercial model. It allows companies to minimize or eliminate substantial upfront implementation costs and ongoing technology upgrades, facilitates continuous improvement of shared assets and capabilities, and ultimately provides scalability for those companies that need to grow fast. Specifically, the ease and economics of BPaaS deployment are providing options to companies who aim to quickly expand into new geographies.
As an example, Genpact’s human resources (HR) BPaaS solution – from hiring and payroll to performance management and embedded information systems – is providing Max Bupa, an India-based health insurance company formed as a joint venture between Max India Limited and the UK-based Bupa Finance PLC, with a cost-effective and scalable HR platform for its emerging India business. Max Bupa quickly experienced increased transparency, accurate reporting and self-service training.
“Genpact’s service comprising all of the critical HR components is boosting our HR staff productivity in many ways by streamlining and supporting those processes,” said Mr. Pritpal S. Kular, Director of HR, Max Bupa. “Genpact’s BPaaS solution will allow our company to effectively manage rapid growth while keeping our costs low, and we have peace of mind that our processes are running at optimal levels.”
Another Genpact client – a mid-sized manufacturing and merchandising company based in the U.S. – needed to establish operations in emerging countries quickly and seamlessly while completing three critical acquisitions in six months to continue its market expansion. Genpact supported these efforts by managing the entire finance and accounting (F&A) back office, including end-to-end infrastructure, process transformation and delivery, and on-site resources.
Genpact’s BPaaS strategy leverages its deep Lean and Six Sigma-based process expertise along with its Smart Decision Services that drive better business outcomes through analytics, reengineering and risk management – ensuring that the solution delivers the best processes for clients’ business requirements. The company’s BPaaS offerings also incorporate technology-enabled business solutions, technology partnerships and co-innovation with clients. More specifically, Genpact provides:
- Enterprise solutions including human resources outsourcing (HRO) and F&A – These comprise core HR functions such as payroll and performance management, as well as F&A solutions including credit risk optimization, cash forecast, ebilling and collections, travel and expense (T&E), and account reconciliation, as well as related workflows and actionable analytics to drive working capital improvements.
- Industry-specific solutions deeply tailored to meet the needs of specific industries such as financial services, including life insurance origination fulfillment services on a third-party platform – Genpact is exploring BPaaS solutions for other life insurance functions, in addition to service contract management and aftermarket services management in manufacturing. Genpact is also working to integrate best-in-class third-party software tools with its Smart Decision Services into BPaaS solutions. Immediate applications encompass social media and direct marketing analytics in the consumer products and services market, commodity crunch profit volatility analytics for consumer goods and some manufacturing segments, actuarial calculations and processes in the European insurance industry, and process performance simulation and redesign for multiple industries.
“Because of our business process IP and expertise we are uniquely positioned to deliver smart BPaaS solutions for companies of all sizes and in many industries. Cloud computing brings limitless opportunities, and we now have multiple effective delivery channels to help transform our clients’ businesses for maximum impact,” said Tiger Tyagarajan, COO of Genpact. “Along with these BPaaS offerings, Genpact drives client value through its SEPSM framework, Smart Decision Services, targeted technology services, and a history of process innovation.”
About Genpact
Genpact is a global leader in business process and technology management, offering a broad portfolio of enterprise and industry-specific services. The company manages over 3,000 processes for more than 400 clients worldwide. Putting process in the forefront, Genpact couples its deep process knowledge and insights with focused IT capabilities, targeted analytics and pragmatic reengineering to deliver comprehensive solutions for clients. Lean and Six Sigma are an integral part of Genpact’s culture and Genpact views the management of business processes as a science. Genpact has developed Smart Enterprise Processes (SEPSM), a groundbreaking, rigorously scientific methodology for managing business processes, which focuses on optimizing process effectiveness in addition to efficiency to deliver superior business outcomes. Services are seamlessly delivered from a global network of centers to meet a client’s business objectives, cultural and language needs and cost reduction goals. Learn more at www.genpact.com.