Everest Group names Genpact a star performer in F&A

Everest Group, a research and consulting firm, has named Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, as a leader and star performer among finance and accounting (F&A) service providers.

Everest Group’s PEAK MatrixTM assesses the market success and overall capabilities of 25 F&A service providers. The report cites Genpact’s strong expertise across the entire F&A function, including its value-added strategic advisory services. Everest Group also recognizes Genpact’s enhanced artificial intelligence (AI) and machine learning capabilities from its automation to AI-based Genpact Cora platform and the acquisition of Rage Frameworks.

“Genpact’s innovative digital products and services accelerate implementation and execution cycle time, which when combined with its deep domain expertise, deliver tangible business outcomes,” said Katrina Menzigan, vice president, Everest Group. “The company’s full embrace of digital technologies is the main driver of its success, and among the reasons why Genpact has one of the highest industry growth rates.”

As finance organizations make the transition from transactional back-office functions to strategic partners, digital technologies play a defining role. With access to real-time insights on financial performance, businesses can make decisions with confidence, at speed.

Genpact drives transformation for finance, turning it into a strategic differentiator. When a global financial firm wanted to accelerate credit decisions and improve customer satisfaction, Genpact introduced automation to the client’s financial spreading process. Genpact’s deep domain expertise, combined with the insights from its AI product, Cora LiveSpread, also strengthened compliance and cut costs by 70 percent.

For a global consumer goods firm, Genpact converted inefficient financial reporting into faster, more frequent and accurate forecasts, which drives better decision making. With the Intelligent Reporting Assistant, powered by Genpact Cora, the company automated its data collection. As the product’s AI learns over time, it continues to improve, delivering greater business impact. Genpact also helped increase efficiencies; for example, reports that previously took the finance team weeks to produce are now finished in just a few days.

“We are transforming the finance function to deliver real-time, accurate, and detailed insights that companies need to make highly informed strategic business decisions to leapfrog their competition,” said Shantanu Ghosh, business leader, CFO and Transformation Services, Genpact. “Genpact’s investments in AI and other digital technologies – combined with our process and domain expertise, and capabilities in design thinking – allow our clients to achieve better financial performance, customer experience, and risk management.”