Our recent key acquisitions, such as Rage Frameworks, TandemSeven, and PNMsoft, have all supported growth in key areas such as AI, design thinking, digital innovation, and dynamic intelligent workflow.
NV “Tiger” Tyagarajan is credited as an industry leader who pioneered a new global business model and transformed a division of GE (formerly GE Capital International Services) into Genpact, a global professional services firm focused on delivering digital transformation for its clients. “Genpact is a different company today, but one you will still recognise,” claims the Genpact CEO, in an interview with Sudhir Chowdhary. Excerpts:
How has Genpact transformed since it started in 1997?
Genpact is a different company today, but one you will still recognise. Many things remain constant from those early days, like our maniacal focus on our clients. What has changed is how we unlock value for clients. We help clients with their digital transformation efforts through digitally enabled Intelligent Operations and Digital Transformation services.
What are the top strategic changes at Genpact since you took over as CEO in 2011?
There were a number of strategic moves that we made in our continued evolution that I think are particularly relevant.
n Shifting Genpact’s leadership centre of gravity. In 2011, we moved to ensure that a much larger proportion of our senior leaders were closer to clients they served. This resulted in a significant presence for Genpact in the US, Europe, Japan and Australia-—the regions where most of our clients are based. A majority of my senior leadership team is today based in the US, including New York metro area, Palo Alto, Boston, etc., but also Europe, apart from India.
n Investing in talent and partnerships to build domain capability. We launched and scaled a Partner programme, creating a more targeted approach to building innovative and market-leading joint services and platforms to accelerate client impact.
Vertically focused long-term planning. We focus on specific industries where we have deep domain and process know-ledge, to serve our clients and align go-to-market, R&D, organic and inorganic investments.
Driving a rigorous digital transformation agenda. With the launch of our patented Smart Enterprise Processes, SEPSM nine years ago, we had gone beyond diagnostics to build and execute roadmaps, engaging with our customers for multiple service offerings focused on specific business outcomes. We introduced Lean DigitalSM approach in 2015, which helps clients optimise ROI from their digital investments by connecting their front, middle, and back offices. In 2017, we launched Genpact Cora, our automation to AI platform that accelerates digital transformation. Our recent key acquisitions, such as Rage Frameworks, TandemSeven, and PNMsoft, have all supported growth in key areas such as AI, design thinking, digital innovation, and dynamic intelligent workflow.
How have your client conversations with C-suite leaders changed over the years?
Today, C-suite leaders are looking for partners who can help them accelerate their transformation journeys and unlock potential and growth with digital, data, and deep process and industry expertise. Our conversations have moved from reducing cost to delivering growth, and from process delivery to transformation and disruption.
AR, ML and AI are just a few of the technologies that are reshaping industries. How has this changed Genpact’s go-to-market strategy?
Informed by deep domain and process expertise, we leverage advanced technologies such as automation, analytics and AI, to help drive competitive advantage for our clients. We have transformed companies—through AI we have predicted equipment repairs over a 10-year period to improve warranty revenue by over $300 million, we have enabled real-time access to retail inventory insights to improve revenue for a CPG company by $200 million and reduced on-boarding time of banking customers from 20 days to one hour using digital KYC.
What has been the market response for Genpact Cora platform?
Our modular platform allows clients to integrate advanced technologies through a mature application program interface and open, flexible architecture. Genpact Cora has had phenomenal success, with HFS Research ranking Genpact among the top three leaders in AI, citing Genpact Cora as the key.