Genpact
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| Type | Public (NYSE: G) |
|---|---|
| Founded | 1997 |
| Headquarters |  Gurgaon, Haryana, India |
| Key people | Pramod Bhasin, President & CEO |
| Industry | Business process outsourcing |
| Revenue | $1.04 billion (2009) |
| Employees | ~36,200 (2009) |
| Website | www.genpact.com |
Genpact (NYSE G), is a Business process outsourcing (BPO) company in India. It was formerly a GE owned company called GE Capital International Services or GECIS. It operates from India, China, Philippines, Romania, Hungary, Netherlands, Spain, México and USA. Pramod Bhasin is the President and CEO of Genpact.
Currently it employs over 36,200 people[1] in various locations providing services in 30 languages on 24X7 basis[2].
Its services cover areas like Financial Services, Sales and Marketing, Analytics, Supply chain, Collections, Customer Services, Information technology and Learning and Content Management.
Contents |
[edit] History
After seeing the benefits of offshoring the Software services to India in 1995, GE started considering starting a captive outsourcing unit. GE established GECIS (GE Capital International Services) in 1997 as an outsourcing unit to provide services from India[3].K.P. Singh influenced Jack Welch to choose Gurgaon as a location. Pramod Bhasin, the then India head of G.E Capital, started GECIS. India was selected because it was considered to have an educated English speaking population fit for Call Centers and was also low on labor cost[citation needed].
In December 2004, GE announced that it has sold off its 60% stake in GECIS for $480 million to two equity companies, Oak Hill Capital Partners and General Atlantic Partners. Both equity companies bought a 30% stake each and GE still remained the largest shareholder with 40% stake in the company. The company retained the short version, GECIS as its name for a year and then was renamed to Genpact in 2005. Recently, one of Genpact's premier customer, Wachovia, also bought approximately 7% stake in the company. Therefore, GE's stake in Genpact is around 33% at present. Genpact was listed on the NYSE on August 2, 2007 under the symbol "G". [4].
[edit] Management Team
Many members of the team developed their management skills working within GE and were involved in building Genpact into the independent commercial enterprise that exists today. Genpact business leaders are Six Sigma trained.
[edit] Our Brand
The multicolored Genpact symbol supposedly conveys "aiming higher and thinking outside the box".[citation needed]
[edit] Trivia
- The NYSE symbol "G" was initially allocated to the Gillette company. After the Gillette Company was acquired by Procter and Gamble, the symbol became free and Genpact and Google booked it. It was Genpact in the end that got to keep G as its stock symbol.
- Apart from GECIS, Genpact has also been known as GECSI and GECIBS in its initial days of operation.
[edit] Locations
Genpact operates from Asia, Eastern Europe, Northern America, Australia and most recently Africa .
[edit] In India
In India it operates from Gurgaon, Delhi, Hyderabad, Jaipur, Bangalore and Kolkata. The operations in India are Finance and Accounting, Sales and Marketing Analytics, Customer Services, Financial Services Collections, Supply chain, Information Technology and Actuarial & Other Insurance Services with Learning Content Development. Genpact has got an approval to open its SEZ center in Bhubaneshwar.
Genpact has a 50:50 joint venture with NDTV in NGEN Media Services. Also has tied up with NIIT for training related services.
[edit] In México
Genpact in México employs more than 3000 people in Caborca, Sonora and Ciudad Juárez, Chihuahua. From México Accounting Services are provided. The new CEO is Steve Rudderham.
[edit] In USA
Through its wholly owned subsidiary formerly known as Creditek LLC, with facilities in Wilkes Barre, PA, Nashville, TN, and Parsippany, NJ, Genpact provides Finance & Accounting solutions Revenue Cycle Management services in such processes as order-to-cash, procure-to-pay and forecast-to-fulfill.
Genpact Mortgage Services, formerly MoneyLine Lending Services, provides private-label, outsourced mortgage origination and fulfillment services and complex business process outsourcing for financial institutions and other mortgage lenders from its centers in Irvine, CA, and Salt Lake City, UT.
[edit] In Guatemala
Genpact's facility in Guatemala provides business process services in English as well as in Spanish. The delivery center will initially accommodate more than 700 workers and has the capacity to grow to approximately 2,000. The facility's close proximity to the region's largest public university is a major advantage in terms of attracting key talent.[citation needed]
[edit] In Hungary
Genpact Hungary, founded in 2002, operates in Budapest and has established itself as one of Europe’s premier business services and technology solutions providers.[citation needed] It currently employs staff from more than two dozen countries serving customers across Europe in over 15 languages.
[edit] In Romania
Genpact began operations in Romania in September 2005. The center in Bucharest provides a well-educated multilingual talent pool.[citation needed] Genpact Romania is our fastest-growing location in Europe and is positioned to double its number of employees in 2007.
Genpact now operate also in CLUJ-NAPOCA in Romania from 2007.
The center in Cluj-Napoca, IULIUS MALL BUSSINESS CENTER povides a well-educated multilingual talent pool also, with 250 employees.[citation needed]
[edit] In Netherlands & Spain
With the strategic acquisition in 2007 of the Dutch and Spanish entities of ICE Enterprise Solutions, Genpact provides SAP solutions via centers in the Netherlands and Spain. ICE is an SAP Services Partner, Utilities Partner, and BW/SEM Partner in the Netherlands, and an SAP Partner and StreamServe Partner in Spain.
[edit] In Poland
In June 2008, Genpact opened a new center in the Polish city of Lublin - the largest in eastern Poland. Lublin's Slavic language capabilities offers enormous potential for growth in the future.[citation needed]
[edit] In Morocco
In 2008, Genpact set foot in the north African city of Rabat. This step materializes the growing demand for our[who?] Services in countries like France. It is also a sign of the rapid emergence of Financial Services - Banking and Insurance - as a market for Genpact in Continental Europe
[edit] In China
Genpact has Service delivery centers at Dalian, Changchun and Shanghai
