Joint clients to benefit from integrated data,
technology, gen AI and streamlined processes aimed at enhancing
efficiency and competitive advantage
NEW
YORK, Aug. 5, 2024 /PRNewswire/ -- Genpact
(NYSE: G), a global professional services and solutions firm
delivering outcomes that shape the future, today announced its
intention to expand its strategic alliance with Advantage
Solutions (NASDAQ: ADV), a premier provider of business
solutions to consumer goods companies and retailers,
to address finance and supply chain challenges in the consumer
packaged goods (CPG) and retail sectors.
The new collaboration between Genpact and Advantage Solutions is
expected to address order-to-cash and supply chain management
inefficiencies, including deductions leakage, poor recovery of
invalid claims, manual customer service operations, as well as
inefficient supply chain planning, logistics and fulfillment. As
the collaboration evolves, the companies plan to introduce new
solutions aimed at meeting the changing needs in the CPG and retail
sectors, ensuring clients benefit from cutting-edge innovations and
improved operational efficiencies.
"We plan to combine Advantage Solutions' expertise in client
management and retail connectivity with Genpact's data, technology,
and AI solutions to enable retailers and CPG companies to
streamline processes and drive efficiencies," said Tarun Chopra, Unit Leader, Consumer Goods,
Genpact. "In the deductions space, our strong track record in
recovering revenue leakage, using advanced analytics and AI, aims
to both recover and prevent losses, delivering significant
financial gains for our clients."
Leakage can account for 7% to 10% in lost revenue due to
inefficiencies in the deductions process, and Genpact addresses
this using advanced data analytics, generative AI, and automation
technologies like Genpact Cora to enhance productivity in contract
automation, order management, cash applications, and
deductions.
Genpact's and Advantage's planned solution for supply chain
management is expected to include a SaaS-based platform that will
digitize order management and trade promotions deductions,
enhancing speed, accuracy and customer satisfaction. SMBs (small to
midsize businesses) and brands often face challenges with
cost-effective, reliable and expedited order-to-cash
management.
"Under our new expected collaboration, clients would be able to
enjoy enhanced, digitized and automated operations," said
Brandon Thornell, Executive Vice
President for Branded Services, Advantage Solutions. "They will
be able to harness the power of data, analytics and digital
offerings on a global scale, providing both cost efficiencies and
growth opportunities. In the supply chain domain, we are committed
to optimizing operations through data-driven insights that enhance
inventory management, reduce transportation costs and improve
demand forecasting."
For more information on how the Genpact and Advantage Solutions
partnership can benefit businesses, visit Genpact's website or
Advantage Solutions' website.
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.
Safe Harbor
This press release contains certain statements
concerning Genpact's future expectations, plans and prospects
that constitute forward-looking statements, as defined in the safe
harbor provisions of the U.S. Private Securities Litigation Reform
Act of 1995. In some cases, you can identify these statements by
forward-looking terms such as "expect," "anticipate," "intend,"
"plan," "believe," "could," "may," "shall," "will," "would" and
variations of such words and similar expressions, or the negative
of such words or similar expressions. These statements are only
predictions based on our current expectations and projections about
future events. These risks, uncertainties and other factors include
but are not limited to the risks detailed in our reports filed with
the U.S. Securities and Exchange Commission, including Genpact's
Annual Report on Form 10-K. These filings are available
at www.sec.gov. Although Genpact believes that these
forward-looking statements are based on reasonable assumptions, you
are cautioned not to put undue reliance on these forward-looking
statements, which reflect management's current analysis of future
events and should not be relied upon as representing management's
expectations or beliefs as of any date subsequent to the time they
are made. Genpact undertakes no obligation to update any
forward-looking statements that may be made from time to time by or
on behalf of Genpact.
MEDIA CONTACT:
Sue
Martenson
Genpact Media Relations
+1
978 905 9582
susan.martenson@genpact.com
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SOURCE Genpact Ltd.