Expanding its footprint in Latin America, Indian software company Genpact has set up a facility in Colombia?s capital Bogota to provide business process management services as well as large-scale finance and accounting (F&A) services.
Talking to FE from Bogota, Genpact vice chairman Pramod Bhasin said, ?In its new facility in the centre of Bogot?, the company will also provide procurement and supply chain business process services. Opened in conjunction with the ministry of trade, industry and tourism of Colombia, the new facility, which is the company?s second location in the region, will also be established as Genpact?s Latin American hub for our rapidly-expanding Smart Decision Services business, which encompasses analytics, re-engineering and risk management services. It has plans to add 1,000-1,500 jobs in Colombia over the next three to five years.??
?Colombia offers many benefits to Genpact ? a talent pool with a high literacy rate and complementary skill sets, a healthy and growing economy, a number of universities with strong business curricula, a diverse array of industries, and open trade practices. We have opened the facility in the centre of Bogot? and in future we may decide to open additional operations in a Tier-II city,? said Bhasin.
?The company?s expansion in Colombia further supports our strategy to bring our global business process expertise to rapidly growing economies to serve global corporations expanding there as well as the domestic market. Colombia and the broader Latin American market provide exactly this opportunity,? he added.
The company already has successful delivery centers in Mexico and Guatemala, and in early August announced the beginning of operations in Brazil.
In a release from the Colombian embassy in New Delhi, Proexport president Mar?a Claudia Lacouture said, ??Since 2008, we have been working with Genpact to have all the tools to make the decision. We provided them information about the workforce, operating costs, incentives, legal framework, the duty-free zone regime and carried out various exploratory investment agendas to validate the Colombian market. Therefore, we are convinced that this decision not only confirms the confidence that foreign investors have in the country, but the great potential of the business process management sector.??
Colombian minister of trade and industry Sergio Diaz-Granados said, ??The challenge in business process management services is to generate 72,700 new jobs to reach 142,280 in 2014, and increase exports from $200 million to $1.025 billion in the same period.?