Careers at Genpact
Genpact’s mission is to reimagine business in order to generate impact for enterprises.
In 1997 Pramod Bhasin launched a business unit within General Electric called GE Capital International Services (GECIS). Its purpose was to deliver business process services to GE’s various divisions in order to create efficiencies. Influenced by GE’s extensive adoption of Six Sigma and Lean Management, the company applied these principles to the outsourcing and IT services it ran.
Over the course of eight years, GECIS managed a wide variety of processes across GE’s manufacturing and financial services businesses. However, it eventually decided to broaden its audience, and in 2005 it became an independent firm to serve customers outside of GE. It changed its name to Genpact, reflecting its goal of “generating global impact". Genpact went public in 2007.
Logo © by Genpact (Wikimedia Commons) under CC BY-SA 4.0
Business model of Genpact
Genpact has a niche market business model, with a specialized customer segment. The company targets its offerings at the following industry verticals: banking and financial services, insurance, capital markets, consumer product goods, life sciences, infrastructure, manufacturing and services, healthcare and high tech. Its top twenty clients accounted for 48% of its total revenues in 2015.
Genpact offers two primary value propositions: performance and brand/status.
The company has demonstrated strong performance through tangible results. High-profile examples of positive outcomes for its clients include the following:
- MGM Resorts used Genpact’s services to implement Lean Six Sigma principles and improve processes, resulting in 90% of all invoices with net terms of 30 days being paid at discounts
- A global surgical products provider used Genpact’s services to carry out a transformation program across 15 procurement categories, resulting in $80 million in savings within 12 months
- A global consumer goods company used Genpact’s services to redesign its internal control function, resulting in a 50% drop in resource costs and a 25% improvement in control automation
- A web hosting firm used Genpact’s services to transform its customer contact operations, resulting in a 2x increase in net promoter score and a 200% increase in outbound per-day sales
- A leading financial services firm used Genpact’s services to create a unified center of excellence, resulting in standardization and improvement of process delivery for a $400 billion portfolio
The company has established a strong brand due to its performance. It has 75,000 employees operating in 25 countries. It serves over 800 clients in more than 70 countries through over 70 delivery centers. These firms include one-fifth of the Fortune 500; specific customers include
AstraZeneca, Boeing, Citigroup, GE, Heineken, Honeywell, Merck, Mondelez, Nissan, Walgreens, and Wells Fargo. Lastly, it has won many honors, including a ranking as one of the top 20 global financial technology firms in IDC‘s FinTech Forward 100 (2015) and recognition as a “Leader“ five years in a row in Gartner’s Magic Quadrant for Global Finance and Accounting BPO.
Genpact’s main channel is its business development team. The company promotes its offering through its social media pages and participation in forums and conferences.
Genpact’s customer relationship is primarily of a dedicated personal service nature. It assists clients through business process outsourcing as well as business consulting, enterprise risk consulting, and transformation services. It also provides general phone and e-mail support.
That said, there is a self-service component. The company’s website features an “Insights” section that includes self-help resources such as articles, research reports, white papers, case studies, infographics, and videos.
Genpact’s business model entails designing and developing its services for customers.
Genpact regularly forms partnerships with firms that have complementary capabilities with the purpose of providing enhanced solutions for its customers or developing new solutions in response to market needs. These alliances may be deal- or transaction-specific, may occur as a part of enterprise-wide transformation, or may be formed to develop joint capabilities in a given service line. As an example of the last option, Genpact maintains a joint venture with Markit Limited through which it operates a streamlined service to manage “Know-Your-Customer” information for customers in its capital markets vertical.
Genpact operates an incubation program designed to nurture partnerships with emerging and established firms specializing in disruptive digital technologies. These partners have access to its funding and expertise, and have the mutual goal of bringing the solutions to market.
Lastly, Genpact conducts joint research with academic institutions such as the MIT Center for Collective Intelligence in order to further promote its mission.
Genpact’s main resource is Smart Enterprise Processes (SEP), its patented, proprietary framework for managing business processes. The SEP methodology utilizes sophisticated diagnostics, cross-functional benchmarks, and granular data analysis to maximize process effectiveness. The company depends on human resources in the form of its outsourcing and consulting staff to design and deliver services for its customers.
They operate out of a global network of over 70 delivery centers in Brazil, China, the Czech Republic, Guatemala, India, Japan, Kenya, Mexico, the Netherlands, the Philippines, Poland, Romania, Slovakia, South Africa, the United Arab Emirates, the United Kingdom, and the U.S.
Genpact has a value-driven structure, aiming to provide a premium proposition through significant personal service and frequent service enhancements.
Its biggest cost driver is cost of revenues, a variable expense that is largely comprised of cost of services. Other major drivers are in the areas of sales/marketing and administration, both fixed expenses.
Genpact has one revenue stream: revenues it generates from contracts for the services it provides. The contracts typically take the form of a master service agreement (MSA), which is later supplement by statements of work (SOWs).
MSAs generally cover terms lasting from three to seven years, though they may last for less than three years or for an indefinite length. Pricing varies by individual client.
info: Tiger earned an undergraduate degree in Mechanical Engineering at the Indian Institute of Technology and an MBA at the Indian Institute of Management. He previously served as Chief Operating Officer and EVP of Sales, Marketing, and M&A at Genpact.
info: Ed earned a Bachelor’s degree in Accounting at Pennsylvania State University and an MBA at the University of Pennsylvania. He previously served as CFO of Motorola and as Executive VP and CFO of Motorola Solutions, Inc.
info: Gianni earned a Business Administration degree at the University of Florence and a postgraduate degree in Organizational and Social Behavior at the London School of Economics. He previously served as Chief Marketing Officer of Genpact.
info: Ahmed earned a B.S. in Mechanical Engineering at the National Institute of Technology. He previously served as Head of Global Sales and Client Relationships at Genpact and led sales, marketing, and client relationships for its European arm.
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