Genpact named a Leader in the IDC MarketScape: Worldwide Enterprise Analytics and AI BPS for F&A 2024 Vendor Assessment

Genpact has been named a Leader in the IDC MarketScape: Worldwide Enterprise Analytics and AI Business Process Services (BPS) in Finance and Accounting (F&A) 2024 Vendor Assessment. We believe this recognition reflects our extensive expertise in finance, our broad array of analytics services, data engineering, and AI capabilities, and our ongoing commitment to investing in innovative digital technologies and intellectual property.

According to the report, “Core to Genpact's strengths in delivering F&A analytics and AI capabilities is its breadth of services spanning information/data architecture, business data warehousing, information/data management and cloud enablement, BI tools/BA apps implementations, big data services, and data strategy and data engineering capabilities. The company also supports a large share of customers with functional analytics to support strategic business decision-making, including working capital optimization, credit/collections, fraud, profitability, and cash flow analytics. Furthermore, Genpact deploys AI/cognitive models for a large share of clients for order to cash, record to report, and procure to pay functions and leverages business process mining technologies to optimize workflows and restructure AP and AR. Last, Genpact has invested in analytics centers of excellence, AI/analytics hubs, and labs to support its enterprise analytics BPS customers.”

IDC Copyright, 2024

Source: IDC MarketScape: Worldwide Enterprise Analytics and AI Business Process Services for Finance and Accounting 2024 Vendor Assessment, IDC # US51353223, July 2024

“IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of technology and suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each supplier’s position within a given market. The Capabilities score measures supplier product, go-to-market and business execution in the short-term. The Strategy score measures alignment of supplier strategies with customer requirements in a 3-5-year timeframe. Supplier market share is represented by the size of the icons.”

1. Global investment in cognitive platforms: “As AI gains a nearly ubiquitous presence, CFOs, finance leaders, and outsourcing decision-makers alike have prioritized investments in cognitive platforms to support their businesses whether it is to mine and analyze massive amounts of unstructured data, derive actionable insights, or pave the way for more commercial use cases of analytics.”
2. Outsourcing drivers: “IDC research shows 29% of global enterprises still have a decentralized finance analytics function (individual departments, business units, or teams manage their own individual data analysis) or no formal structure at all.”
3. Role of service providers: “Service providers should function as a catalyst to remove barriers of digital adoption by providing modular AI-enabled solutions, digital implementation assistance, and innovative pricing models.
4. Choosing strategic partners: “Look to service providers for innovative deal structuring leveraging platforms and services, thereby working on committed outcomes removing the need for capex-driven transformation investments.”