Genpact and ICG Commerce Join Forces to Offer Source-to-Pay Solution

Genpact (NYSE: G), which manages business processes around the world, and ICG Commerce, a leading procurement outsourcing specialist, have collaborated to offer an unmatched “Source-to-Pay” outsourcing solution.  The solution combines superior sourcing capabilities, spend analytics and ongoing category management with procurement and accounts payable capabilities to maximize business impact.

Source-to-Pay outsourcing offers companies a significant savings opportunity by reducing indirect spend which can be a significant portion of total company expenditures, while also delivering considerable process efficiencies.  However, realizing this potential value requires the combination of two distinct competencies: deep sourcing and supplier market expertise and global purchase-to-pay process management.

The Genpact – ICG Commerce solution combines best-of-breed strategic sourcing, procure-to-pay transactional expertise and industry-specific knowledge of procurement platforms to maximize the potential of Source-to-Pay outsourcing.  Genpact’s extensive global process reengineering and operational management capabilities, coupled with ICG Commerce’s sourcing and category management strength, enable the providers to deliver greater business impact. 

Genpact is a leading global business process and technology solutions firm focused on helping clients transform the ways in which they do business by continuously improving business processes.  Initially established as part of GE Capital to manage multiple business processes, Genpact is known for its Six Sigma-based process reengineering capabilities and operational excellence.   ICG Commerce, a leader in the procurement outsourcing space, brings its global sourcing and category expertise, supply market intelligence and proprietary tools as well as a proven track record of helping clients achieve measurable savings on spend.

“Few companies have been able to capitalize on the significant promise of Source-to-Pay outsourcing,” said Carl Guarino, Chief Executive Officer, ICG Commerce. “We are excited to bring this unique and powerful combination of capabilities to market and to deliver the full value of Source-to-Pay outsourcing to a broader set of companies.”

The companies have collaborated over the past year to support the full Source-to-Pay value chain for market leaders like Kimberly-Clark Corporation. In addition the two companies are delivering services on a global basis for The Hertz Corporation. 

“As we evaluated potential partners, it became apparent that Genpact and ICG Commerce had the best combination of expertise, capabilities and provided the right cultural fit to help us achieve our objectives,” said Robert W. Black, Group President, Kimberly-Clark Corporation. “Over the last year the team has made significant progress toward our joint goals.” 

“Genpact and ICG Commerce not only bring together extensive best-of-breed capabilities, but we also share a strong results-oriented culture and commitment to delivering significant business impact. We look forward to working together to drive even greater value for our clients,” said Genpact President and Chief Executive Officer Pramod Bhasin.

About ICG Commerce, Inc.
ICG Commerce is the leading procurement outsourcing specialist. Results-driven leaders access ICG Commerce’s experienced resources and market intelligence to better manage procurement and logistics spend, gaining significant savings and enhanced visibility and control.

ICG Commerce is a privately held company founded in 1992 and a member of Internet Capital Group’s (Nasdaq: ICGE) network of partner companies.  The company has earned recognition from Forbes, Fortune, The International Association of Outsourcing Professionals (IAOP) and leading industry analysts for its leadership in procurement outsourcing. For more information: www.icgcommerce.com.

About Genpact
Genpact (NYSE: G) manages business processes for companies around the world. The company combines process expertise, information technology and analytical capabilities with operational insight and experience in diverse industries to provide a wide range of services using its global delivery platform. Genpact helps companies improve the ways in which they do business by applying Six Sigma and Lean principles plus technology to continuously improve their business processes. Genpact operates service delivery centers in India, China, Hungary, Mexico, the Philippines, the Netherlands, Romania, Spain and the United States.  For more information: www.genpact.com.