NEW YORK, Feb. 21, 2017 /PRNewswire/ -- Genpact (NYSE:
G), a global leader in digitally-powered business process
management and services, today announced that HfS Research, a
leading industry analyst firm, has recognized Genpact in the 2016
Procurement as-a-Service Winner's Circle.
The HfS Blueprint report finds that as procurement organizations
look for more flexible, modular services and delivery options, as
well as innovative commercial models that facilitate collaboration,
providers are rethinking their services. Design thinking,
intelligent automation, actionable and accessible data, and
plug-and-play digital services are rapidly becoming table stakes in
procurement as-a-service.
The report evaluates 15 firms as recognized by their clients in
eight areas of execution and innovation. HfS Research specifically
cites Genpact as a complete, end-to-end procurement services
provider with capabilities that meet organizations' transactional
and strategic needs. The report highlights Genpact's investment in
source-to-pay expertise, its Lean Digital℠ approach to
transforming procurement functions, advanced analytics
capabilities, and global access to procurement talent and thought
leadership.
"Genpact is delivering the flexible solutions and commercial
models that organizations are looking for, while its Lean Digital
approach enables companies to address business outcomes with the
right digital technologies and analytics," said Derk Erbé, HfS
Research vice president, Supply Chain, Procurement, and Energy.
"By successfully growing its procurement practice to offer
end-to-end solutions and embedding design thinking across its
solutions, Genpact has moved into the Procurement as-a-Service
Winner's Circle."
Through Lean Digital℠, Genpact allows organizations
to bypass legacy constraints by harnessing three complementary
domains – digital process-centric technologies, design-thinking
methods, and Lean principles. With these capabilities, Genpact
addresses clients' challenges with innovative procurement
as-a-service solutions that increase revenue, optimize working
capital, improve innovation and the user experience, manage risk,
and reduce cost.
For example, Genpact helped transform a global surgical products
firm's procurement function, significantly reducing third-party
risk, improving the user experience by introducing agile governance
and supplier management, and saving $80
million in operating costs within 12 months. For a global
manufacturing firm, Genpact manages the strategic sourcing of
direct materials, saving $190 million
in costs through the introduction of structured sourcing and a
hypercompetitive negotiation process. These savings were delivered
in 12 weeks, improving the firm's competitive market position in
its value chain, and cutting the typical process time by 50
percent.
"Being part of the HfS Research Procurement-as-a-Service
Winner's Circle reflects how we are enabling procurement functions
to impact top-line growth by improving revenues, user experiences,
risk management, working capital, and cost reduction through our
commitment to developing agile services," said Jon Kirby, senior vice president, Procurement at
Genpact. "We create value for clients by applying digital
technologies, advanced analytics, and deep domain insights that
result in seamless processes across both finance and procurement
operations."
For more information about Genpact's procurement as-a-service
capabilities, visit:
http://www.genpact.com/what-we-do/business-services/procurement?source=PR022017.
For details about Genpact's Lean Digital℠ approach,
visit http://www.genpact.com/leandigital/?source=PR022017. To
access a summary of HfS' report, go to
http://www.genpact.com/what-we-do/business-services/procurement?source=PR022017.
About HfS Research
HfS Research is The Services Research Company™—the leading analyst
authority and global community for business operations and IT
services. The firm helps enterprises validate their global
operating models with world-class research and peer networking. HfS
Research coined the term The As-a-Service Economy to illustrate the
challenges and opportunities facing enterprises needing to
re-architect their operations to thrive in an age of digital
disruption, while grappling with an increasingly complex global
business environment. HfS created the Eight Ideals of Being
As-a-Service as a guiding framework to help service buyers and
providers address these challenges and seize the initiative.
About Genpact
Genpact (NYSE: G) stands for
"generating business impact." We are a global leader in
digitally-powered business process management and services. We
architect the Lean Digital℠ enterprise through
our patented Smart Enterprise Processes (SEP℠)
framework that reimagines our clients' operating models end-to-end,
including the middle and back offices. This creates Intelligent
Operations℠ that we help design, transform, and run.
The impact on our clients is a high return on transformation
investments through growth, efficiency, and business
agility. For two decades, first as a General Electric division
and later as an independent company, we have been passionately
serving our clients. Today, we generate impact for a few hundred
strategic clients, including approximately one-fifth of the Fortune
Global 500, and have grown to over 75,000 people in 25 countries,
with key offices in New York City.
The resulting business process and industry domain expertise and
experience running complex operations are a unique heritage and
focus that help us drive the best choices across technology,
analytics, and organizational design. For additional information,
visit www.genpact.com. Follow Genpact on Twitter, Facebook,
LinkedIn, and YouTube.
For more information:
Christian
Coffield
(Genpact Media
Relations)
christian.coffield@genpact.com
+1
203-512-2535
|
Abby
Trexler
(for Genpact
U.S.)
atrexler@peppercomm.com
+1
212-931-6179
|
|
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/analyst-firm-hfs-research-positions-genpact-in-winners-circle-for-procurement-as-a-service-300410507.html
SOURCE Genpact