Genpact and Celonis Further Partnership with Platinum Status Announced at Annual Celosphere User Conference

Rhea-AI Summary

Genpact (NYSE: G) and Celonis have expanded their strategic partnership at Celosphere 2022, aiming to enhance digital transformation for their clients. The collaboration includes establishing a joint Center of Excellence to drive business insights and improve operational efficiencies. Key outcomes include improved finance and accounting processes for Global Fortune 500 clients and the creation of pre-built solutions leveraging Genpact's expertise and Celonis' Execution Management System (EMS). A survey indicated that 25% of organizations anticipate increasing their process intelligence spending by over 10% in the next 12-18 months.

Positive

• Expanded strategic partnership with Celonis at Celosphere 2022 to enhance digital transformation.
• Creation of a joint Center of Excellence to drive business insights and operational efficiencies.
• Development of pre-built solutions leveraging Genpact's expertise and Celonis' Execution Management System (EMS).
• Survey findings suggest a 25% increase in process intelligence spending among organizations.

Negative

• None.

Joint Center of Excellence and Ongoing Mutual Technology Investments to Enhance Clients' Digital Transformation

NEW YORK, Nov. 9, 2022 /PRNewswire/ -- Genpact (NYSE: G), a global professional services firm focused on outcomes that transform businesses, and its longstanding partner, Celonis, the global leader in Execution Management, together announced the expansion of their more than four year strategic partnership at Celonis' annual user conference, Celosphere. Clients will benefit from deeper and more extensive domain and process led solutions that help solve some of the most complex business challenges in an ever-evolving market. Additionally, the two companies will develop a joint Center of Excellence focusing on acceleration of business insights on opportunities to improve outcomes leveraging technology, strategy and processes.

Throughout the partnership tenure, Genpact and Celonis have helped clients, including Global Fortune 500, achieve notable results through a data-driven, process improvement approach in finance and accounting, supply chain, risk management, procurement and more. This expanded relationship will help accelerate the creation of pre-built solutions and offerings that leverage Genpact's deep domain knowledge and CORA solutions integrated with Celonis' Execution Management System (EMS) platform t0 drive digitally led operational models that further improve productivity and reduces the cost of client business operations.

As enterprises are at various stages of adopting process intelligence, which turns operational data into actionable insights, Genpact and HFS Research completed a survey to better understand the landscape. Findings indicated that 25% of organizations expect a 10%+ increase in spending on process intelligence in the next 12 to 18 months. Using this technology for uncovering data-driven insights validates the collectively expanded partnership to provide mutual clients with the right tools for optimizing strategic planning and decision making. 

"In today's competitive environment, leveraging an ecosystem of partners is crucial to driving strategic differentiation and business impact," said Tiger Tyagarajan, chief executive officer, Genpact. "Now more than ever, businesses are looking to accelerate their transformation journeys. Our partnership with Celonis exemplifies the ability to harness the best of digital technology and data with process and industry expertise to unlock actionable insights that drive tangible outcomes that matter for our clients around the world."

As part of the enhanced platinum partnerships, Genpact and Celonis are creating a Center of Excellence to further their out-of-the-box offerings, including Record to Report Process Optimizer, Data-Led Tail Spend Optimization and the Perfect Payable Index. Using the Celonis EMS and CORA capabilities, new and existing clients can assess the current and future economic environment and facilitate ideas for further standardization, digitization and optimization of business outcomes.

"At Celonis, we pride ourselves on partnering with global leaders in enterprise efficiency. We are excited to elevate our partnership with Genpact to deliver outcomes that transform business and shape the future," said Alex Rinke, co-CEO and co-founder of Celonis. "Now, through our Platinum Partnership, enabled by our joint Center of Excellence, Genpact clients will have seamless access to Celonis' market-leading process mining and execution management technology. We are thrilled that this collaboration fuses our process optimization solutions with Genpact's deep domain expertise to reach even more clients and help them perform at levels they never thought possible."

Incorporating solutions like CoraAPFlow, Genpact's market-leading accounts payable solutions, with the Celonis EMS, coupled with process intelligence, will power the dynamic workflows, automation, AI, and machine learning that clients will benefit from. By leveraging technology and automation, clients will benefit from touchless programs that expedite services and enhance client and employee satisfaction. Genpact will enhance its Enterprise 360 offering to strengthen the control tower shared with clients to identify and drive ongoing transformation in its client's operations. 

About Genpact
Genpact (NYSE: G) is a global professional services firm delivering the outcomes that transform our clients' businesses and shape their future. We're guided by our real-world experience redesigning and running thousands of processes for hundreds of global companies. Our clients – including many in the Global Fortune 500 – partner with us for our unique ability to combine deep industry and functional expertise, leading talent, and proven methodologies to drive collaborative innovation that turns insights into action and delivers outcomes at scale. We create lasting competitive advantages for our clients and their customers, running digitally enabled operations and applying our Data-Tech-AI services to design, build, and transform their businesses. And we do it all with purpose. From New York to New Delhi and more than 30 countries in between, our 115,000+ team is passionate in its relentless pursuit of a world that works better for people. Get to know us at Genpact.com and on LinkedIn, Twitter, YouTube, and Facebook. 

About Celonis
Celonis reveals and fixes inefficiencies businesses can't see, enabling them to perform at levels they never thought possible. Powered by its market-leading process mining core, the Celonis Execution Management System provides a full set of platform capabilities for business executives and users to eliminate billions in corporate inefficiencies, provide better customer experience and reduce carbon emissions. Celonis has thousands of implementations with global customers and is headquartered in Munich, Germany and New York City, USA with more than 20 offices worldwide.

Media Contact:

Sarah Joyce
Genpact
Sarah.Joyce@genpact.com
+1 626.379.9829

Isabell Horvath
Celonis
i.horvath@celonis.com
M: +49 151 74639221

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SOURCE Genpact

FAQ

What is the significance of the Genpact and Celonis partnership announced on November 9, 2022?

The expanded partnership aims to enhance digital transformation for clients, focusing on operational improvements and the establishment of a Center of Excellence.

How will clients benefit from the Genpact and Celonis collaboration?

Clients will gain access to deeper domain solutions and pre-built offerings leveraging Genpact's expertise and Celonis' Execution Management System.

What did the survey conducted by Genpact and HFS Research reveal about process intelligence spending?

The survey revealed that 25% of organizations expect to increase spending on process intelligence by more than 10% in the next 12 to 18 months.