Global Outsourcing Leader Launches New Identity: Gecis Global is Now Genpact

Today one of the pioneers and major players of global outsourcing takes a new name. Gecis Global is now Genpact.

Genpact President & CEO Pramod Bhasin said the company expects to pass the $1 billion mark in annual revenues by 2007-2008 and have a global workforce of 30,000.

When GE commercialized its GE Capital International Services unit on December 30, 2004, it began searching for a name to communicate its heritage and value proposition.

Employees and customers suggested names by the hundreds. One of the brainstorms surfaced Genpact.

“We chose it because it so aptly communicates our brand promise – generating value, commitment, partnership and impact,” said Pramod Bhasin, president and chief executive officer, Genpact.

The company’s tagline is Global Business Impact(SM).

“Global enterprises today want impact,” said Bhasin. “They want partners they can trust to work with them and through process excellence measurably improve their margins, cash performance, and speed to market.”

The Genpact logo, developed by Interbrand, includes a symbol in the form of a stylized arrow impacting a blue field.

“It conveys pushing the envelope, aiming higher, and, of course, business impact,” said Bhasin.

Bhasin credited GE with realizing the potential of a large, educated, English-speaking workforce in India and capitalizing on it.

“We were the pioneers,” he said, reflecting on the company’s beginnings in 1997. “But we knew there was enormous potential.”

For years the organization was known by its acronym, “Gecis.” As GE expanded, so did its outsourcing operation – adding offices in Hyderabad, Bangalore, Jaipur and Kolkata, as well as expanding into China, Eastern Europe, and Mexico. The company is already considering two additional sites in India, another in China, and a predominantly French-speaking facility in Europe or North Africa.

On December 30, 2004, GE unleashed Gecis to grow on its own by selling 60 percent of its equity to two firms well known for their investments in IT-enabled, knowledge-based companies: General Atlantic and Oak Hill Capital Partners.

In the past year Gecis has lived up to its promise of not only serving GE’s 35 distinct businesses but many other new companies as well. Since January 1, Genpact has received orders worth $160 million from more than a dozen new customers. Bhasin said Genpact’s new clients are large enterprises from such industries as airline transportation, auto manufacturing, banking, insurance, pharmaceutical, and entertainment.

“We were confident that our pioneering spirit and GE foundation of integrity and Six Sigma rigor would be a winning combination in the marketplace,” noted Bhasin, adding that Genpact now has 20 Global Fortune 500 customers, besides GE, across six verticals: banking & finance, insurance, manufacturing, transportation, automotive, and business services.

In addition to signing new customers, Genpact this year has been expanding in other ways…

• opening new operations centers in Kolkata, India, and Bucharest, Romania;

• acquiring Creditek, a leading order-to-cash and receivables management firm in the United States; and

• signing an exclusive partnership with Liberata, one of the UK’s leading business process outsourcing providers particularly strong in the life and pension market.

While GE, the world’s ninth largest company, will continue to be a significant customer for Genpact, Bhasin predicted the number and size of other blue-chip clients will grow as Genpact attracts global enterprises searching for process excellence.

“We are absolutely committed to offering best-in-class products and services, and we will continue to innovate to ensure we meet that promise,” said Bhasin.

Most of the innovation is occurring at the high end of the company’s process areas, which are:

• finance & accounting

• sales & marketing analytics

• customer service

• financial services collections & operations

• supply chain & procurement services

• aftermarket services

• information technology services, and

• enterprise application services & program management.

Bhasin thanked the company’s employees, customers, and shareholders: GE, General Atlantic, and Oak Hill.

“You have made this journey possible – one that has lifted the lives of thousands of people and their families across six countries,” said Bhasin. “But mostly I want to thank our employees, because it is the talent and can-do spirit of our 19,000 associates that gives us the most promise for growth in the years ahead.”