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Genpact Limited (NYSE: G) is a global professional services firm known for its commitment to delivering transformative business outcomes that shape the future. Established as a spin-off from General Electric in 1998, Genpact leverages its deep industry and functional expertise to provide innovative solutions across a range of sectors including banking and financial services, insurance, capital markets, consumer product goods, life sciences, infrastructure, manufacturing, healthcare, and high-tech.
With over 125,000 employees operating in more than 30 countries, Genpact prides itself on its ability to combine process expertise, technology capabilities, and industry knowledge to help clients achieve significant growth, cost efficiency, and business agility. The company’s proprietary digital business platform, Genpact Cora, integrates advanced technologies such as AI and analytics to streamline operations, enhance decision-making, and drive intelligent operations.
Genpact’s impressive client roster includes more than one-fourth of the Fortune Global 500, reflecting its reputation as a trusted partner for large-scale digital transformation projects. The firm’s dedication to operational excellence has led to collaborations with leading technology platforms like Salesforce, Microsoft, and other industry giants. Recent partnerships include a multi-year engagement with Advantage Solutions to implement industry-leading platforms and a strategic collaboration with Tropicana Brands Group to transform global business services and supply chain operations.
Financially, Genpact has demonstrated consistent growth. For the fiscal year ending December 31, 2023, the company reported annual revenue of $4.5 billion, showing a 2% year-over-year increase despite macroeconomic challenges. The company continues to invest in new technologies and innovative strategies to maintain its competitive edge. In May 2024, Genpact announced a $400 million notes offering intended for general corporate purposes, including the repayment of existing debt, which underscores its strong financial management and strategic foresight.
Genpact’s leadership in the industry is further evidenced by its recognition in various assessments, including Everest Group’s PEAK Matrix® Assessment for financial crime and compliance, where it was named a Leader for the fourth consecutive year. This accolade highlights Genpact’s comprehensive capabilities in areas such as anti-money laundering, fraud management, and risk compliance.
Committed to creating a positive impact, Genpact operates with a purpose-driven approach, aiming to build a world that works better for people. This ethos is reflected in every aspect of the company's operations, from its innovative solutions and strategic partnerships to its sustainable business practices.
Genpact has been named a Leader in Avasant's 2024 Insurance Business Process Transformation RadarView™ report. The recognition highlights Genpact's expertise in insurance and AI innovations that help deliver end-to-end transformations for enterprise clients. Among 22 evaluated service providers, Genpact stood out for its practice maturity, investments, and partner ecosystem. The company leverages AI, analytics, and automation through proprietary platforms to address demands for faster claims processing, enhanced customer engagement, and cost management. Notable solutions include Cora ContactUs.ai for customer service automation and AI-powered claims handling.
Genpact announced the appointment of Jinsook Han as its new Chief Strategy and Corporate Development Officer, effective immediately. Han will lead the company's strategy, investments, ventures, and acquisitions, reporting directly to President and CEO, Balkrishan "BK" Kalra. Han brings extensive experience in data, analytics, and AI, having previously served as a partner at PwC and the Chief Strategy Officer at Accenture's Applied Intelligence Business. She holds a Bachelor's degree from Virginia Tech and an MBA from Kellogg School of Management, among other credentials. Han expressed her enthusiasm for driving Genpact's growth and transformation through strategic initiatives and partnerships.
Genpact (NYSE: G) reported strong Q3 2024 results with total revenue of $1.21 billion, up 7% year-over-year. The company's Data-Tech-AI revenue grew 9% to $569 million, while Digital Operations revenue increased 5% to $642 million. Net income rose 13% to $133 million, with diluted EPS up 16% to $0.74. The company has increased its 2024 guidance, now expecting 6% revenue growth, up from 2% in the prior year. Genpact repurchased approximately 1.9 million shares for $75 million during the quarter.
Genpact (NYSE: G) has achieved the AWS Generative AI Competency in Consulting Services, reinforcing its position as an AWS Premier Tier Services Partner. This recognition highlights Genpact's expertise in implementing generative AI solutions at scale. The company offers end-to-end generative AI consulting services, leveraging foundation models and large language models to help clients improve operational efficiency and enhance customer experiences. A notable implementation includes Genpact's riskCanvas financial crime platform, which uses Amazon Bedrock to transform alert and case management for Apex Fintech Solutions.
Genpact has won the Celonis 'Best Use Case Ideation' award at Celosphere 2024 for its innovative sustainable supply chain solution. The solution, developed with Celonis, helps manufacturing clients replace disposable packaging with reusable alternatives by tracking packaging movement across systems through a unified interface. Selected as a top-six finalist from 115 entries, the solution addresses four key phases: planning with real-time insights, tracking asset locations, coordinating data across supply chains, and streamlining reverse logistics.
The collaboration continues through the Celostone program, enhancing the Celonis Sustainability Layer to provide customers with integrated sustainability measurement, improvement, and reporting capabilities.
Genpact (NYSE: G) has been named a Leader in the 2024 Everest Group Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment for the thirteenth consecutive year. The recognition highlights Genpact's expertise in finance and accounting, combined with innovative use of data, technology, and AI for end-to-end finance transformations.
Among 33 global FAO providers evaluated, Genpact stood out for its enhanced capabilities in enterprise risk management, FP&A, and transformation advisory services. The company's significant investments in generative AI, tools and platforms, and outcome-oriented approach contributed to its leadership position. Genpact offers comprehensive solutions including ESG services, Enterprise Risk and Compliance services, and has launched a generative AI Center of Excellence to develop innovative solutions.
Genpact (NYSE: G) has introduced its new Finance Data Hub, powered by the Databricks Data Intelligence Platform. This AI-driven solution aims to provide CFOs and finance teams with faster access to accurate data, enhancing decision-making and operational efficiency. The Finance Data Hub addresses data challenges by consolidating structured and unstructured data from various operations into a central platform.
Built on Databricks' lakehouse foundation, the solution offers clean, reliable data in near-real-time, enabling advanced analytics and AI-driven insights. It features robust governance and simplified compliance, empowering CFOs to adapt quickly to market changes while managing spend, cash flow, and profitability. This collaboration between Genpact and Databricks represents a significant step in helping finance professionals leverage AI and machine learning to optimize performance and enhance forecasting.
Genpact (NYSE: G), a global professional services and solutions firm, has announced a quarterly cash dividend for Q4 2024. The company's board of directors has declared a dividend of $0.1525 per common share. This dividend will be payable on December 23, 2024 to shareholders of record as of the close of business on December 9, 2024. The press release also notes that the declaration of any future dividends will be at the discretion of the board of directors.
Genpact (NYSE: G) hosted its AI Day in New York City, focusing on turning AI innovation into direct business outcomes. The event, themed 'The AI of Now', brought together clients and partners to explore advances in generative AI, machine learning, data, and analytics. Key areas covered included:
- Strategic value of AI in finance
- AI-led value creation in client operations
- Predictive supply chain
- Fostering an AI-first mindset at Genpact
Attendees praised Genpact's commitment to driving cutting-edge innovation and showcasing real-world AI use cases. The event highlighted Genpact's focus on combining domain expertise with technology to scale AI adoption.
Genpact (NYSE: G) has announced it will release its financial results for the third quarter ended September 30, 2024, after the U.S. financial markets close on Thursday, November 7, 2024. Following the release, the company's management team will host a conference call at 5:00 p.m. ET to discuss Genpact's performance.
Participants are encouraged to register in advance to receive a dial-in number and unique PIN for easy access to the call. While early log-in is recommended, registration and access will be available throughout the call. A live webcast will be accessible on the Genpact Investor Relations website, with a replay and transcript posted shortly after the call concludes.
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