NEWYORK - October 19, 2010: Genpact Limited (NYSE: G), a global leader in business process and technology management, has been recognized as one of the top global providers of procurement business process outsourcing (BPO) services by NelsonHall. In its latest research, “Procurement Outsourcing Market Forecast 2010-2014,” NelsonHall provides an analysis of the global procurement BPO market by geography and service type and lists Genpact in the top five global and U.S. procurement BPO providers.
The report lists the projected compounded average annual growth rate (CAAGR) for the global market as 12.3 percent for the four-year period, with solid growth in all geographies. NelsonHall estimates the global procurement
BPO market size for
2010 at over $800 million and forecasts that is will grow to nearly $1.3 billion by 2014.
"Procurement
BPO continues to be one of the fastest growing areas of back-office BPO," said Rachael Stormonth, senior vice president of NelsonHall and author of the report. "Genpact applies its granular 'Smart Enterprise Processes' (SEP(SM)) methodology in areas such as accurately categorizing and analyzing clients' spend, improving contract compliance, and streamlining and improving P2P processes. With its strategic partnership with ICG Commerce, Genpact can offer strong sourcing capabilities and coverage of the full suite of sourcing and procurement BPO services."
As part of its procurement BPO services offering, Genpact significantly increases Source to Pay (S2P) business performance by delivering 2-5 times higher impact on key business outcomes including reduction in total cost of ownership (TCO), working capital optimization and availability of material and services. Genpact's S2P services address the obstacles that organizations have in not being able to leverage the true effectiveness of their sourcing and procurement initiatives. These include operating in organizational silos, limited visibility into best-in-class performance measures, and the use of technology without process rigor.
SOURCE:
http://www.genpact.com/home/aboutgenpact/press-releases/genpact-ran...
For more information:
Genpact Media Relations
Gail Marold, +1 919-345-3899
gail.marold@genpact.com
For Genpact
Kristen Stippich , +1 212-880-5278
kristen.stippich@opr.com
For Genpact
Arunita Dutta, +91 9811740901
arunita.dutta@genpact.com
