MUNICH, June 30, 2021 /PRNewswire/ -- Genpact (NYSE: G), a global professional services firm focused on delivering digital transformation, is further expanding its operations in Germany to meet client demand for a range of process-driven transformation services solutions for supply chain management, finance and accounting, procurement, and analytics across key industries, including high tech, retail, consumer goods, life sciences, and industrial manufacturing.
"German companies across industries are looking for a trusted partner to help them drive digital transformation to gain agility and efficiencies that enable them to quickly respond to market disruptions and increasing levels of complexity, and we believe we are perfectly positioned to be that partner," said Tiger Tyagarajan, chief executive officer, Genpact. "I am particularly excited that Genpact is expanding in a market with such a highly-skilled workforce. Genpact's culture places a premium on intellectual curiosity and agile thinking, making the German workforce a good fit."
Today's announcement is an extension of Genpact's ongoing strategy of continuously evaluating and expanding its global footprint and offerings to meet the digital transformation needs of clients in key markets around the world.
"The German market provides significant potential for professional services providers as enterprises spend $45-$55 BN USD on digital transformation, technology, and technology-enabled services," said Peter Bendor-Samuel, chief executive officer, Everest Group.
COVID-19 contributed to a 4.8 percent decline in Germany's GDP at a time when the country had fallen behind many Organization for Economic Co-operation and Development nations in the utilization of digital technologies and services. Digital solutions that help businesses optimize their front-, middle-, and back-end processes will help drive a more rapid recovery across Germany's famed Mittelstand and among larger multinational businesses with a presence in this market.
"With digital transformation investments expected to exceed $9.0T by 2025 and growing at 14.9% CAGR over this same period, more companies are taking an enterprise-wide approach to their digital transformation strategies. What's surprising is that Germany, despite being the fourth largest economy (based on GDP), has a little over 34% of businesses taking an enterprise approach to digital transformation, as compared to 53% globally," said Shawn Fitzgerald, research director, worldwide digital transformation strategies, IDC. "Partnering with service firms that have digital transformation expertise is an effective approach to successful digital business transformation and sustainable competitive advantage. This is especially true since services are almost 42% of digital transformation investments across hardware, software, and services."
Driven by client demand and market opportunity, in 2018, Genpact strengthened its supply chain capabilities in Germany through its acquisition of Barkawi Management Consultants, a global supply chain technology services provider, helping clients in that market to better navigate the complexities of a rapidly changing landscape, driving significant transformative impact in their operations. Building on the success of that work, the growth of Genpact in Germany will further expand its supply chain management expertise and will provide clients with a full range of process-driven transformation services, including finance and accounting, procurement, and analytics, that are critical to driving the end-to-end transformation needed for long-term competitive advantage.
"This is a critical time for the German market, where agile, digitally-led enterprises will drive the post-COVID recovery for this market. We're excited to help German clients rethink business processes that focus on increasing productivity and fueling growth," said former CEO of GE Germany and Austria, Prof. Dr. Stephan Reimelt, senior executive advisor for Genpact. "With our combined expertise in business process and digital innovation, Genpact has the right mix of skills and technologies to accelerate their digital transformations."
For more information on Genpact in Germany please visit: https://www.genpact.com/de/.
About Genpact
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. Led by our purpose -- the relentless pursuit of a world that works better for people -- we drive digital-led innovation and digitally enabled intelligent operations for our clients. Guided by our experience reinventing and running thousands of processes for hundreds of clients, many of them Global Fortune 500 companies, we drive real-world transformation at scale. We think with design, dream in digital, and solve problems with data and analytics. Combining our expertise in end-to-end operations and our AI-based platform, Genpact Cora, we focus on the details – all 90,000+ of us. From New York to New Delhi, and more than 30 countries in between, we connect every dot, reimagine every process, and reinvent the ways companies work. We know that reimagining each step from start to finish creates better business outcomes. Whatever it is, we'll be there with you – accelerating digital transformation to create bold, lasting results – because transformation happens here. Get to know us at Genpact.com and on LinkedIn, Twitter, 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 statements involve a number of risks, uncertainties and other factors that 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.
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