Genpact originated as a division of General Electric in 1997. Its mission was to assist G.E.'s companies with business process services. It started to oversee a broad variety of activities across G.E.'s financial services and manufacturing companies during the next eight years.
"Generating business impact" is what Genpact (NYSE: G) stands for. It is a worldwide leader in business process management and services enabled by digital technology. The company's tasks include assisting in the design, transformation, and operation of Intelligent OperationsSM. They aim for customers to benefit from a high return on their transformation efforts in terms of growth, efficiency, and business agility. They have a unique Smart Enterprise Processes (SEPSM) architecture that reimagines the customers' operating model end-to-end, including the middle and back offices, to create the Lean DigitalSM enterprise.
The firm went independent in January 2005 and started serving customers outside of G.E. The name of the firm, Genpact, is intended to communicate the commercial effect it has on its customers. The company grew exponentially since August 2007 when it was listed in the New York stock exchange with G ticket. It was a huge success, and after that event, the company expanded from 32,000 employees and revenue of $823 million to 77,000 employees and revenue of $2.57 billion in the year 2016.
In 2007, Genpact formed a joint venture with NDTV, an Indian corporation, to provide media outsourcing services.
In October 2012, Bain Capital became the firm's biggest stakeholder.
The U.K. Medicines and Healthcare Products Regulatory Agency engaged Genpact in September 2020 to provide an Artificial Intelligence software application to handle the predicted large number of COVID-19 vaccine Adverse Drug Reactions, ensuring that no information from the ADR reaction texts is overlooked.
NV Tyagarajan was appointed as the CEO of Genpact in June 2017 and as a member of the board of directors by replacing the former member Pramod Bhasin. Pramod was later appointed as Genpact'a Non-executive vice-chairman.
Tyagarajan was CEO of Genpact from 1999 to 2002, during which time he guided the company through a vital growth period as a G.E. subsidiary. When G.E. Capital U.S. became an independent firm in 2005, he returned to Genpact as executive vice president of sales and business development. After that, he became the company's chief operating officer.
Genpact unveiled Genpact Cora, an artificial intelligence (A.I.)-based platform for businesses, in June 2017. The platform features an open architecture and application program interface (API) design that incorporates both Genpact's intellectual property and that of third suppliers. Deciphering massive volumes of data, seamless customer support, better financial reporting, and increased speed to market are all promised advantages of the platform.
Endeavour Software Technologies, an enterprise mobility software startup situated in Austin, Texas, was acquired by the corporation in April 2016.
TandemSeven, a Boston-based experience design firm, was purchased in August 2017.
OnSource, based in Braintree, Massachusetts, offers a platform for property and casualty (P&C) insurance firms and their customers called Inspection-as-a-Service (IaaS). Genpact purchased OnSource in September 2017.
For the health care and medical research perspective, in June 2018, Genpact acquired Commonwealth Informatics incorporation, a provider of products and services for drug safety.