HfS Research Ranks Genpact as Leader in Finance and Accounting
NEW YORK, October 12, 2017 – Genpact, a global professional services firm focused on delivering digital transformation, is a leader among finance and accounting(F&A) service providers, according to HfS Research, a leading industry analyst firm.
HfS recognizedGenpact in the leading spot for innovation in the 2017 Blueprint Reportfor Finance and Accounting as-a-Service, marking the fourth year in a row thatGenpact has been in the Winner’s Circle. The report evaluates 19 firms asrecognized by client feedback and HfS analysis in terms of market size, trends,and strategic direction, with a specific focus on innovation and execution.
AI transforming F&A
The HfS report citeshow finance executives now look beyond efficiency benefits and are increasinglyfocusing on using digital technologies like artificial intelligence (AI) totransform their F&A operations. HfS specifically cites Genpact’ssignificant investments in AI and robotic process automation (RPA) as among thereasons for the Winner’s Circle ranking. The report also calls out theAI-based Genpact Cora platform, the acquisitions of Rage Frameworks and Tandem Seven, and ongoing momentum in analyticscapabilities in financial planning and analysis (FP&A).
“In addition to itslandmark acquisitions of Rage and TandemSeven, and other investments in digitaltechnology and talent, Genpact has earned a leading position in our Winner’sCircle for collaborating with clients and partners to transform the finance function,” said Barbra McGann, executive vice president,business operations, HfS Research. “What stands out to us is the resultsthat come from commitment, forward-thinking, and effectiveness of a ‘truepartnership’ between clients and the firm.”
Genpact delivers impactful business outcomes
As an example of theimpact Genpact delivers for it clients, the company is helping a globalconsumer packaged goods market leader transform inefficient manualfinancial reporting processes. Reports that previously took employees weeks tointerpret data from various internal and external systems are now produced injust a few days, thanks to Genpact’s Intelligent Reporting Assistant, powered by Genpact Cora.The product automates 70 percent of data collection, and the AI also learnsover time, driving much faster, more frequent forecasts with greater accuracy.As a result, finance delivers greater value and allows the company to makebetter informed business decisions.
A globalinternational insurance organization also turned to Genpact for help inharnessing AI’s power. Genpact used RPA to automate manual processes acrossbusiness lines, and applied natural language generation and analytics totransform FP&A. The insurer increased productivity in global operations by40 to 50 percent, strengthened controllership with improved accounting, anddelivered millions in annual cost savings.
"Our topranking from HfS recognizes Genpact’s vision and execution on innovation, andequally important, our ability to deliver impactful results,” said Shantanu Ghosh, senior vice presidentand business leader, CFO and Transformation Services, Genpact. “Ourdomain expertise, coupled with our sustained focus and investment in advanceddigital technologies, creates disruptive value for our clients. We arepassionate about our ‘say-do’ ratio, which in today's rapid pace of change iscritical, yet often compromised by hype.”
For more informationabout Genpact's F&A services, see http://www.genpact.com/what-we-do/business-services/finance-accounting.For details about Genpact Cora, click here. Access the HfS report summary here.