Genpact Recognized as a Leader in Procurement Outsourcing Services in the 2024 Everest Group PEAK Matrix® Assessment

News provided by

Nov 20, 2024, 08:05 ET

Fourth consecutive year of recognition highlights Genpact's expertise in sourcing and procurement, strong partner ecosystem, and advanced technology capabilities driving transformation for clients worldwide

NEW YORK, Nov. 20, 2024 /PRNewswire/ -- Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, today announced that it has been named a Leader for the fourth consecutive year in the 2024 Everest Group Procurement Outsourcing (PO) Services PEAK Matrix® Assessment. This recognition underscores Genpact's excellence in source-to-pay (S2P) services, as well as its innovation in advanced technologies including generative AI, and its partnerships with leading technology providers which together create competitive advantages for global enterprises.

"Transforming procurement with technology and data analytics at the core is essential for helping our clients maximize spend under management, reduce supply chain risk, and improve both supplier relationships and user experiences," said Steve Simko, Global Procurement Service Line Leader, Genpact. "We continue to develop our gen AI capabilities and enhance our S2P service offerings knowing that deep domain expertise, advanced technologies, and dynamic talent are critical to serving clients across industries and geographies."

Everest Group evaluated 24 global PO service providers through its rigorous RFI process, client references, and market analyses. Amongst these, 22 providers were also assessed for their Source-to-Contract (S2C) capabilities, with Genpact recognized as a Leader in the 2024 S2C Services PEAK Matrix® Assessment. Leaders are distinguished by their superior technology capabilities, innovative engagement models, ongoing investment in sourcing and procurement capabilities, and operational scale to meet diverse client needs.

"Genpact offers end-to-end procurement services through its Center of Excellence-led capabilities in sourcing, category management, and integrated procure-to-pay (P2P) models," said Shirley Hung, Partner, Everest Group. "Supported by advisory capabilities, a strong digital ecosystem, and focus on user experience, Genpact is a Leader in Everest Group's 2024 Procurement Outsourcing PEAK Matrix® Assessment."

Genpact's PO package of services offers comprehensive solutions for sourcing and category management, integrated P2P, and advisory services. Its Leader ranking reflects its ability to:

Provide deep domain expertise, advanced technologies, and consulting capabilities for end-to-end procurement services and digitalization
Offer a strong digital ecosystem of best-of-breed procurement solutions and enabling technologies through third-party partnerships, including niche providers, beyond its in-house tools
Enhance the user experience by offering a unified front-end solution across S2P processes.

Genpact continues to enhance its integrated P2P offerings with methodologies such as digital smart enterprise processes and transformation maturity models, as well as solutions for planning, master data management, and vendor onboarding. The company also continues to expand its delivery presence with centers for P2P support across the US, Bulgaria, and the Philippines.

"Genpact has also invested in integrating generative AI and automation across S2P processes such as supplier discovery, contract management, and P2P helpdesk," continued Hung. "In addition, it offers procurement-as-a-service to clients for a centralized procurement experience in partnership with ServiceNow."

For more information on Genpact's sourcing and procurement services, visit: https://www.genpact.com/services/sourcing-and-procurement.

Disclaimer

Licensed extracts taken from Everest Group's PEAK Matrix® Reports, may be used by licensed third parties for use in their own marketing and promotional activities and collateral. Selected extracts from Everest Group's PEAK Matrix® reports do not necessarily provide the full context of our research and analysis.  All research and analysis conducted by Everest Group's analysts and included in Everest Group's PEAK Matrix® reports is independent and no organization has paid a fee to be featured or to influence their ranking.  To access the complete research and to learn more about our methodology, please visit Everest Group PEAK Matrix® Reports. 

About Everest Group

Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group's PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at www.everestgrp.com. 

About Genpact

Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.

Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook.

MEDIA CONTACT:

Geraldine Lim
Genpact Media Relations
+1-951-318-3494
[email protected]

SOURCE Genpact