Genpact publishes first of a series of survey results covering nearly 1,000 executives
NEW YORK, July 29, 2014 – Genpact Limited (NYSE: G), a global leader in designing, transforming and running business processes and operations, today announced the findings of a global research study that reveals how senior leaders across industries are prioritizing strategic operational initiatives to materially address the critical challenges that their companies face.
This expansive research, utilizing an innovative social media-based method, covered 920 senior executives across finance, procurement, risk, marketing and operations from the largest enterprises in mature economies in North America, Europe and Asia Pacific. The first report in the series is focused on the finance function. The remaining reports will be published in the coming months and provide insights on other functional roles as well core operations in banking, insurance, life sciences and healthcare.
According to finance executives, regulatory compliance, risk management and cost reduction are the biggest worries confronting their firms. The results however vary significantly across industries. Banking, financial services, and insurance (BFSI) executives include compliance and risk management among their top three concerns, respectively, in 72% and 70% of the cases. Executives in other industries are more concerned about innovation and growth.
Finance executives believe that the finance function can play a key role in addressing some of these issues. However, its ability to impact these challenges depends on levels of maturity and preparedness, which vary widely across companies and industry sectors, as well by sub-functions.
Specifically, financial planning and analysis (FP&A) and master data management (MDM) have emerged as two key areas to watch. Finally, executives believe that three levers of operating model transformation – technology, process reengineering, and advanced organizational structures such as shared services and business process outsourcing – create impact very differently.
“Along with advanced organizational structures and process transformation, agile technology can be quite powerful when targeted effectively,” said Shantanu Ghosh, senior vice president and business leader, CFO Services and Consulting at Genpact. “As part of our role designing, transforming, and running process operations, we continue to invest in targeted technology, operating model design and process science and focus on industry nuances to provide senior business leaders with a roadmap to achieve the business outcomes they seek.”
Genpact Limited (NYSE: G) is a global leader in designing, transforming and running business processes and operations, including those that are complex and industry-specific. Our mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in tighter cost management as well as better management of risk, regulations and growth for hundreds of long-term clients including more than 100 of the Fortune Global 500. Our approach is distinctive – we offer an unbiased, agile combination of smarter processes, crystallized in our Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. We have global critical mass – more than 65,000 employees in 25 countries with key management and corporate offices in New York City – while remaining flexible and collaborative, and a management team that drives client partnerships personally. Our history is unique – behind our single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 16 years. Follow Genpact on , , and LinkedIn.