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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 (NYSE: G) has announced that its Chief Financial Officer, Mike Weiner, will be presenting at the Citi Global TMT Conference on Wednesday, September 4, 2024, at 3:00 p.m. Eastern Time. This presentation will be webcast live through Genpact's Investor Relations website at www.genpact.com/investors.
For those unable to attend or watch the live presentation, a replay will be available after the event concludes. The replay will remain accessible until September 5, 2025, providing ample time for interested parties to review the presentation at their convenience.
Genpact (NYSE: G) has been named a Leader in the HFS Research Supply Chain Services 2024 Horizon assessment. The report highlights Genpact's innovation in supply chain strategy, combining practical experience with expertise in leading supply chain technology solutions. Genpact's service capability manages both forward and after-sales supply chain services through an outcome-driven model, potentially boosting client revenue by up to 45%.
Key strengths include partnerships with AWS and Salesforce, enhancing Genpact's supply chain tools, as well as its data management, AI-powered enterprise planning control towers, and predictive analytics. The company is recognized for implementing robust risk management, sustainable practices, and enhanced visibility to respond swiftly to unforeseen events. Genpact's approach to expanding capabilities and dedication to sustainability positions it as a leader in driving next-generation supply chain innovations.
Genpact (NYSE: G) announced its Q2 2024 financial results, highlighting a total revenue of $1.18 billion, up 6% year-over-year.
Key metrics include:
- Diluted EPS of $0.67, up 6%
- Adjusted Diluted EPS of $0.79, up 10%
- Gross profit of $416 million, up 7%
- Net income of $122 million, up 5%
- Cash flow from operations of $209 million, up from $171 million in Q2 2023
Genpact also repurchased 1.9 million shares amounting to $63 million.
The company increased its full-year revenue guidance to a range of $4.656 billion to $4.701 billion, reflecting a 4% to 5% growth.
Genpact (NYSE: G) has announced its integration with Salesforce Data Cloud to offer AI-driven industry-specific cloud solutions. This partnership aims to transform operations and drive competitive advantages for enterprises by combining Genpact's AI and industry expertise with Salesforce's data management capabilities. The integration addresses issues related to disconnected and unstructured data, including quality, accessibility, and scalability.
Key benefits include:
- Improved decision-making and optimized operations
- Breaking down data silos
- Gaining real-time insights
- Delivering personalized experiences at scale
Genpact has also launched a comprehensive training program for its employees on Salesforce's Einstein AI and Data Cloud platforms to enhance skills and boost innovation.
Genpact (NYSE: G) has named Sanjeev Vohra as its first Chief Technology & Innovation Officer, effective immediately. Vohra, who brings over 30 years of expertise in technology and consulting, will report to President and CEO Balkrishan 'BK' Kalra. His appointment aims to accelerate AI and advanced technology solutions, driving higher client value and business growth. Vohra will lead Genpact's technology strategy, innovation framework, strategic partnerships, and talent roadmap. Previously, he was the global lead of Accenture Applied Intelligence, where he contributed significantly to its Data and AI business growth. Vohra's visionary approach is expected to enhance Genpact's internal technology expertise and deepen client engagements.
Genpact (NYSE: G) has partnered with Volkswagen Financial Services (VWFS) to enhance customer and employee experience in automotive finance. The collaboration focuses on leveraging AI-powered solutions to streamline processes and build competitive differentiation. Genpact will deploy its Cora Knowledge Assist, a gen-AI powered multilingual tool for faster customer query resolution, and Cora Nudge Coach, an AI-driven tool for personalized agent feedback.
In the coming months, Genpact plans to expand digital and data innovation across VWFS operations, implementing new gen AI solutions in areas such as intelligent document processing, training simulations, customer sentiment analysis, and compliance controls. These initiatives aim to enhance employee performance, reduce paperwork processing times, and improve overall customer experience for VWFS.
Genpact (NYSE: G) has appointed Nicholas "Nick" Gangestad to its Board of Directors, effective August 12th, 2024. Gangestad, currently the Senior Vice President and Chief Financial Officer at Rockwell Automation, will serve on Genpact's Board's Audit Committee. With over 30 years of finance and business expertise, Gangestad brings valuable insights to Genpact's board, particularly in finance and financial operations. Prior to his role at Rockwell Automation, he served as the Chief Financial Officer at 3M. Genpact's Chairman, Jim Madden, and President and CEO, Balkrishan "BK" Kalra, expressed enthusiasm about Gangestad's appointment, highlighting his expertise in finance and its potential to enhance the company's capabilities in serving clients.
Genpact (NYSE: G) and Advantage Solutions (NASDAQ: ADV) plan to expand their strategic alliance to address finance and supply chain challenges in the CPG and retail sectors. The collaboration aims to tackle order-to-cash and supply chain management inefficiencies, including deductions leakage, invalid claims recovery, manual customer service operations, and inefficient supply chain planning, logistics, and fulfillment.
Key highlights:
- Genpact's data, technology, and AI solutions combined with Advantage Solutions' expertise in client management and retail connectivity
- Focus on recovering revenue leakage using advanced analytics and AI
- Planned SaaS-based platform to digitize order management and trade promotions deductions
- Potential to address 7% to 10% lost revenue due to deductions process inefficiencies
- Emphasis on enhancing operational efficiencies and competitive advantage for joint clients
Genpact (NYSE: G), a global professional services firm, has been named to the Forbes list of America's Best Employers for Women 2024. This recognition underscores Genpact's commitment to diversity, equity, and inclusion (DEI). The company emphasizes gender balance and supports women through initiatives such as the Women's Leadership Program and scholarships for young girls in India. In 2023, women made up 42% of Genpact's global workforce and 50% of its board, with representation on its leadership council increasing to 47% from 29% in 2022. This award is based on a survey by Forbes and Statista, involving over 150,000 women who rated employers on various DEI metrics. Heather White, Chief Legal Officer, highlighted Genpact's dedication to creating an inclusive work environment.
Genpact (NYSE: G) has been recognized as a Leader in the Everest Group Life Sciences Regulatory and Medical Affairs Operations PEAK Matrix® assessment for 2024. This ranking highlights Genpact's outstanding global delivery and AI capabilities, including advanced digital solutions across the regulatory and medical affairs value chain.
Key factors contributing to Genpact's leadership position include:
- Comprehensive suite of digital solutions
- Strategic partnerships with companies like AWS and Veeva
- Cutting-edge AI capabilities, such as Health Agency Q&A and Marketing Authorization Supply Transfer
- Strong presence in the medical technology space
- Expertise in key opinion leader engagement and medical science liaison support
The recognition underscores Genpact's commitment to delivering innovative AI solutions supported by deep industry expertise to clients worldwide in the complex global regulatory environment.
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