Genpact

Genpact India Pvt LTD

Type	Public
Traded as	NYSE: G Russell 1000 Component
Industry	Artificial Intelligence Solutions Digital Transformation Services Professional Services
Founded	1997
Key people	NV Tyagarajan (President and CEO)
Revenue	$ 2.57 billion (2016)
Net income	$267.5 million (2016)
Number of employees	77,000 (2016)
Website	www.genpact.com

Genpact (NYSE: G)^[1] is a professional services firm with key offices in New York City, Palo Alto, London, Bangalore, Hyderabad, Kolkata, and Delhi.

Genpact was founded in 1997 as a business unit within General Electric. In January 2005, Genpact became an independent company, and by August 2007 was publicly traded. Bain Capital became its largest shareholder in October 2012.^[2]

In 2016, the company reported net revenues of US$2.57 billion with more than 77,000 employees in more than 20 countries.

History

Genpact began in 1997 as a unit within General Electric. Its charter was to provide business process services to GE's businesses. During the eight years that followed, Genpact began to manage a wide range of processes across GE's financial services and manufacturing businesses.

In January 2005, Genpact became an independent company and began to serve clients outside of GE. The company name, Genpact, is designed to convey the business impact it generates for its clients. In August 2007, Genpact was listed on the NYSE under the symbol 'G'. Since then the company has grown from 32,000 employees and revenue of US$823 million, to 77,000+ employees and revenues of US$2.57 billion (2016).

Bain Capital became the firm's largest shareholder in October 2012.^[3]

In 2006, Genpact launched a joint venture with Indian company NDTV to offer outsourcing services for the media industry. ^[4]

Genpact Cora

In June 2017, Genpact unveiled Genpact Cora, an artificial intelligence (AI)-based platform for enterprises.^[5] The platform has an application program interface (API) design and open architecture that includes Genpact’s own intellectual property as well as other providers, integrating three areas:^[6]

• Digital Core: cloud, software-as-a-service, blockchain, mobility and ambient computing, robotic process automation, and dynamic workflow;
• Data Analytics: advanced visualization, data engineering, big data, and Internet of Things (IoT);
• Artificial Intelligence: conversational AI, computational linguistics, computer vision, machine learning and data science AI.

Genpact Cora's claimed benefits include deciphering large chunks of data, seamless customer service, faster financial reporting, and increasing speed to market.^[7]

Acquisitions

Genpact completed the acquisition of Endeavour Software Technologies, an enterprise mobility software company, based out of Austin TX, in April 2016.^[8][9]

In August 2017, Genpact acquired a TandemSeven, a Boston-headquartered company.^[10]

Genpact acquired OnSource in September 2017. OnSource, headquartered in Braintree, Mass., is a provider of an Inspection-as-a-Service (IaaS) product for property and casualty (P&C) insurance carriers and their customers. OnSource uses technologies such as real-time browser-based communication, self-service applications, and drones to put consumers in control of their insurance claims. ^[11]

On July 18 , 2018 Genpact signed an agreement to acquire Barkawi Management Consultants ,a leading supply chain management consultancy with operations in the U.S. and Europe that is part of the Barkawi Group.

Executive leadership

On June 17, 2011, NV “Tiger” Tyagarajan^[12] became the president and chief executive officer (CEO) of Genpact and was appointed to the Board of Directors.^[13] He had served as chief operating officer of Genpact. He succeeded Pramod Bhasin, who stepped down as CEO and member of the board and became non-executive vice chairman of the company.^[14]

Tyagarajan had been CEO of Genpact from 1999 to 2002, when he led the business through a critical growth phase as a subsidiary of GE.^[15] When Genpact became an independent company, he rejoined Genpact from GE Capital U.S. as executive vice president of sales and business development from 2005 to 2009. Thereafter, he took on the role of Genpact’s chief operating officer.

See also

• List of IT consulting firms

References