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Banks Accelerate Efforts to Digitalize Operations to Deliver Customized Experiences
Oct 14, 2020, by Andy EfstathiouI recently participated in a webinar panel during the Consumer Banking Association conference with Genpact and TD Bank. The panel topic was Genpact: Turning Crisis into Opportunity for Consumer Banking, and it addressed three core topics: The global health and economic crises have reshaped consumer banking Banks are adjusting to serve customers digitally while trying to maint[...]
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Genpact’s Agile Approach to Collections to Support Scaling Operations
Jun 12, 2020, by Andy EfstathiouThe past decade since the global financial crisis (GFC) has been good for the lending industry. Loan delinquencies in the U.S. reached their highest level after the GFC in the first quarter of 2010 at 7.4% of commercial bank loan portfolios. Since then, loan delinquencies have fallen to 1.44% of loan portfolios as of the fourth quarter of 2019. At the same time, loan portfolios[...]
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New Genpact Procurement BPS Strategy Underpinned by Major Personnel Transfer
Nov 13, 2019, by Rachael StormonthGenpact has signed a procurement BPS contract with a multinational conglomerate to manage a spend of $10bn covering all major categories of indirect spend (except IT) including logistics, FM, MRO, professional services, travel, and contingent labor, globally. The contract is of strategic importance to Genpact in that it involves the transfer of 130 category management and sourcing personnel[...]
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Genpact Acquires Rightpoint to Strengthen 'Experience' Capability
Oct 24, 2019, by John WillmottEnterprise operations transformation requires three critically important capabilities: Domain process expertise and the ability to identify new “digital” target operating models Transformational technology capability, leveraging technologies such as cloud platforms and intelligent automation to elevate straight-through processing and self-service principles ahead [...]
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CX, RCM & Other Key Takeaways from HIMSS19
Feb 26, 2019, by NelsonHall AnalystNelsonHall recently attended HIMSS19 in Orlando, Florida, the largest healthcare IT conference in the world, with over 45K delegates attending and 1.3K vendors in the exhibition. Here are three highlights from the many conversations we had about the state of the healthcare industry. Obstacles to improving CX The conversation about “consumer experience” in healthcare organizat[...]
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Genpact Acquires Barkawi Management Consultants, Targets 25%+ Growth in Supply Chain Management
Aug 14, 2018, by John WillmottSCM is one of Genpact’s “invest-to-grow” service lines, where the company is looking to make disproportionate investments and scale up the business: in this case, to become one of the top two global supply chain transformation services vendors. In its “invest-to-grow” businesses, Genpact is looking to achieve at least twice the level of revenue growth ac[...]
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Genpact Acquires TandemSeven, Adding Human-Centered Design IP & Consulting to Digital Transformation Capabilities
Sep 07, 2017, by Rachael StormonthGenpact announced another acquisition today, that of TandemSeven, a design thinking (DT)-led CX /UX innovation consultancy based in Boston, with offices also in New York and Chicago. This is Genpact’s fourth acquisition in the U.S. this year; all four clearly supporting the company's drive to radically evolve its portfolio from traditional BPS to a coherent set of offerings designed [...]
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Genpact: Using OnSource to Bring New Digital Process Models to Property Claims Assessments
Aug 31, 2017, by Rachael StormonthNelsonHall recently caught up with Genpact to discuss their recent acquisition of OnSource and their plans to integrate it with BrightClaim – we were not surprised to hear that the two acquisitions are indeed connected, and part of Genpact’s strategy to introduce new digital process models in P&C insurance. To set the scene: Earlier this month, on the day of [...]
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Genpact Cora: A Unifying Framework to Accelerate Industrialization of New Digital Process Models
Jun 30, 2017, by John WillmottMany of the pureplay BPS vendors have been moving beyond individual, often client-specific implementations of RPA and AI and building new digital process models to present their next generation visions within their areas of domain expertise. So, for example, models of this type are emerging strongly in the BFSI space and in horizontals such as source-to-pay. A key feature of these[...]
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Genpact Acquires BrightClaim to Enhance Positioning as Disruptive Claims Managed Service Provider
May 18, 2017, by Rachael StormonthGenpact has had a traditional presence in offshore-based adjudication support services for the property & casualty sector but is now, supported by its acquisition of BrightClaim, aiming to reposition as a disruptive provider of claims managed services. The acquisition of BrightClaim provides Genpact with deep onshore domain and loss adjusting capability, which Genpact is looki[...]
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FinTech in the Commercial Banking Sector: From Mass Market to Custom Processing Efficiency
Dec 14, 2016, by Andy EfstathiouMost FinTech engagements to date, with the exception of Blockchain, have been focused on consumer banking, a business characterized by high volume, high standardization, and low value transactions. By contrast, commercial banking is characterized by low volume, high customization, and high value transactions. And from an operational perspective, commercial banking uses higher value e[...]
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Genpact Assists Client in Targeting 10x Process Improvement, Applying Design Thinking to Order Management
Jul 12, 2016, by John WillmottWithin its Lean Digital approach, Genpact is using digital and design thinking (DT) to assist organizations in identifying and addressing what is possible rather than just aiming to match current best-in-class, a concept now made passé by new market entrants. At a recent event hosted at Genpact’s new center in Palo Alto, one client speaker described Genpact’s approach to [...]
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Genpact Combining Design Thinking & Digital Technologies to Generate Digital Asset Utilities
Jul 12, 2016, by Rachael StormonthGenpact recently hosted an advisor/analyst session at its new Innovation Center in Palo Alto. So why is a BPO specialist opening a center in Silicon Valley? Genpact is using the center as a hub for the development (and showcasing) of platform-based digital assets aimed at mimicking the industry disruptors by being based on standardized, simplified operating models and distributed tec[...]
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Genpact Adds Analytics and Automation and Invests in Domain Expertise to Position on “Generating Impact”
Jul 16, 2015, by John WillmottIn 2012 Genpact was starting to get behind the curve. Many of its competitors had caught up with the need for process framework methodologies and it was struggling to combine its IT assets with its business process services business. In addition, despite its focus on process excellence, Genpact sometimes lacked depth of domain expertise with the result that its execution was variable across accoun[...]
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The New Genpact Focuses on Pain Points in Banking Sector, Creating Utilities & Differentiating Services with Systems of Engagement
Jul 14, 2015, by Andy EfstathiouI recently attended Genpact’s industry analyst and advisor conference, at which the vendor described its approach to success in a time of rapid change for enterprise operations delivery. It believes that most enterprises are ‘cemented’ in the wrong place due to challenges with legacy processes underpinned by legacy technology, and that enterprises unable to adapt quickly will die[...]
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NelsonHall Launches NEAT Vendor Evaluation and Assessment Tool for P&C Insurance BPO in the Automotive Sector
Dec 01, 2014, by NelsonHall AnalystNelsonHall, the leading global BPO and IT outsourcing analyst firm, has today launched a new tool to assist strategic sourcing managers in assessing vendor capability in Property & Casualty Insurance BPO for the automotive sector. The NelsonHall Vendor Evaluation and Assessment Tool (NEAT) for P&C BPO in the automotive sector is now available to NelsonHall clients, and is also available[...]
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Genpact Q2 Results: The Transformation Remains a 'Wait & See' Game
Aug 01, 2014, by NelsonHall AnalystGenpact’s Q2 2014 results show similar mid-single digit (5%) top line growth to Q1 (4.9%), in line with prior guidance for the year of 4%-6% (this has now been adjusted to 5-7% to include a revenue contribution from its Q2 acquisition of Pharmalink). But it is substantially below the 12.1% growth seen in 2013. EBIT margin was 13.0%, down both sequentially (-7 bps) and y/y (-157 bps[...]
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NelsonHall Launches “Speed-to-Source” Vendor Evaluation Tool for Payroll Outsourcing
Jul 30, 2014, by Gary BragarThe NelsonHall Vendor Evaluation and Assessment Tool (NEAT) for Payroll Outsourcing is now available to NelsonHall clients, and is also available for a period free-of-charge to buy-side organizations through NelsonHall and through its partners SIG and SSON. The NEAT tool for Payroll Outsourcing is part of NelsonHall’s “speed-to-source” initia[...]
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Genpact: "The Art of the Possible"
May 23, 2014, by NelsonHall AnalystNelsonHall recently attended a Genpact analyst forum in Boston, where we were keen to learn more about the changes in its strategy that Genpact announced in February to effect a major transformation of its business (see our blog “Genpact: Slow Progress on Transformation Strategy in 2013 - Unveils Next Phase of Plan: http://research.nelson-hall.com/blog/?avpage-views=blog&type=post&po[...]
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Genpact's Acquisition of Pharmalink: The Right Space at the Right Time
May 02, 2014, by NelsonHall AnalystGenpact’s acquisition of Pharmalink expands its capability to offer an increasingly important range of life sciences regulatory services, especially for the pharmaceutical majors. Pharmalink, a small but global player in this niche space, has established important relationships with several of the largest pharmaceutical companies since its inception around 15 years ago.&n[...]
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