NEW YORK--(BUSINESS WIRE)--Genpact Limited (NYSE: G), a global leader in business process and technology management, today announced that it has acquired Akritiv Technologies, a leading provider of cloud-based order-to-cash (OTC) technology solutions based in Silicon Valley, Calif. Under the terms of the deal, Genpact will take ownership of Akritiv Technologies’ proprietary technology platform and software as a service (SaaS)-delivered solutions for OTC functions such as credit and accounts receivable management. Financial terms are not disclosed.
As a result of this acquisition, Genpact will provide an unprecedented end-to-end offering to clients for receiving and processing customer sales. Along with Akritiv’s cloud-based platform, Genpact’s OTC capabilities incorporate global delivery, local contextual knowledge, eBilling and back-end analytics that will help companies achieve critical bottom-line impact while realizing the benefits of the cost-effective and easily scalable BPaaS delivery model. Genpact has already been providing a comprehensive eBilling solution which was strengthened through its acquisition of Avolent and its eBilling technology platform two years ago.
Akritiv’s solutions will continue to be sold direct to companies and will also be sold as business process as a service (BPaaS) bundled with Genpact’s existing OTC portfolio of services. Akritiv’s cloud-based OTC service platform is designed with the latest intuitive and easy-to-deploy user interface. The platform enables companies to accelerate accounts receivable collections, optimize credit risk, collaborate with automated workflows, predictively forecast cash, and leverage actionable analytics to drive working capital improvements. Its solution is used by corporate credit and collections teams, financial controllers, treasurers, executive management, and sales management teams who have benefitted from a low risk, comprehensive, and quick-to-deploy platform.
“Akritiv Technologies’ innovation, technology acumen, and commitment to providing best-in-class OTC solutions is an ideal fit for Genpact and our previously-announced BPaaS strategy,” said Tiger Tyagarajan, COO of Genpact. “We are aggressively expanding our technology and BPaaS capabilities so we are excited to offer cloud-based OTC solutions to our many clients to help them mitigate risk, enhance workflow and perfect their reporting processes in a cost-effective manner. The expertise of Akritiv Technologies is the gem that we found in the OTC market, and Genpact looks forward to integrating their solutions into our business and seeing our clients achieve optimal business outcomes.”
“This transaction represents a great opportunity for our company, our customers and our employees. Akritiv was founded around three key design principles that are fundamental to our customers – cutting-edge cloud technology, industry leading OTC best practices, and globalized solution offering,” said Sanjay Srivastava, president and CEO, Akritiv Technologies. “Genpact’s strong market position and deep domain expertise in OTC best practices, as well as a global operational footprint, provides Akritiv and its customers the strength and market positioning to take our solutions to the highest levels in the industry.”
Genpact has the largest business-to-business OTC operation in the industry, with associates around the globe managing more than $100 billion in revenue for clients for the entire customer-to-cash lifecycle. Genpact manages upstream processes, or Order-to-Bill, that include setting up clients and their contracts, assessing credit risk, and managing order fulfillment. Genpact also handles downstream processes, or Invoice-to-Cash, such as collecting and applying cash payments and resolving customer disputes and deductions. Genpact provides a compendium of best practices, business insights, analytics, change management expertise, Lean and Six Sigma process excellence, benchmarks and technology to drive clients’ F&A processes to world-class performance.
About Akritiv
Akritiv is a leader in providing Software as a Service (SaaS) solutions for Working Capital Optimization. Headquartered in Silicon Valley, California, Akritiv develops next generation solutions for working capital management, and helps users around the globe unlock strategic value from within their Financial Value Chains. Akritiv’s solution is designed as a net-native application, built ground up on an advanced cloud computing architecture, and enables finance departments to reduce DSO, accelerate cash, and reduce operating expense. Learn more at www.akritiv.com.
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.