Genpact International, LLC
Type Public (NYSE: G)
Founded 1997
Headquarters Gurgaon, Haryana, India
Key people Pramod Bhasin, President & CEO
Industry Business process outsourcing
Revenue $822 million (2007)
Employees ~32,000 (2007)
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, Mexico and USA. Pramod Bhasin is the President and CEO of Genpact.

Currently it employs over 34,000 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

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 was the India head of G.E Capital and Raman Roy 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].

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.

Locations

Genpact operates from Asia, Eastern Europe, Northern America, Australia and most recently Africa .

In India

Genpact, Uppal Hyderabad

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.Currently WIPRO Infotech is handling all the IT services of Genpact. All the voice traffic generated for Genpact is handled by Voice team which is in Uppal, Hyderabad.

Genpact has a 50:50 joint venture with NDTV in NGEN Media Services. Also has tied up with NIIT for training related services.

In Mexico

Genpact in Mexico employs more than 3000 people in Caborca, Sonora and Ciudad Juarez Chihuahua. From Mexico Accounting Services are provided. The new CEO is Steve Rudderham.

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 that help clients improve working capital by reducing profit leakage 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.

In Europe

Genpact has operations centers in Budapest, Hungary and in Bucharest, Romania. The services provided are Finance and Accounting, Customer Services, Software Solutions, Information Technology and Supply Chain. And with sonline.ro

In China

Genpact has state of art Service delivery centers at Dalian, Chang Chung.

See also

References

  1. ^ Number of employees
  2. ^ Services and Locations
  3. ^ .http://www.atimes.com/atimes/South_Asia/FK12Df03.html
  4. ^ http://www.thehindubusinessline.com/2006/01/12/stories/2006011202260400.htm

External links

Retrieved from "http://en.wikipedia.org/wiki/Genpact"


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