Combination of advanced technologies, Lean principles and design thinking to reimagine large enterprises’ middle and back office
NEW YORK, September 16, 2015 – Digital technologies are changing industry dynamics and how enterprises run in unprecedented ways. However, this surge in digital transformation initiatives is often challenged in reaching digital’s full, truly revolutionary potential because of pre-existing legacy processes and technologies, and a myopic view of digital technologies solely focused on the front end. Against this backdrop, Genpact (NYSE: G) introduces its Lean DigitalSM approach that enables large companies to rearchitect their middle and back office operations and achieve measurable impact such as growth, cost efficiency, and business agility.
Estimates from the Genpact Research Institute, based on multiple industry sources, indicate that if the right digital transformation strategies are not adopted, nearly $400 billion per year could be spent on digital efforts that return below-expectation return on investment (ROI) and delay respective companies’ digital transformation. In a recent study of 100 large enterprises, only 30 percent align their technology and analytics decisions to business outcomes well. In many of these cases, the interventions focus on front office systems, and insufficiently address the middle and back office processes that ultimately contribute to customer delight, cost, and compliance.
Genpact’s Lean Digital approach marks a milestone in the company’s strategy and leverages the unique experience derived from helping hundreds of clients design, transform, and run better process operations. This approach drives digital impact by architecting how enterprises run from the front end to the middle and back end. It aligns digital interventions to what generates measurable business outcomes, and navigates the complex legacy processes and technologies. Lean Digital is expected to bring many organizations material impact through digital technologies more rapidly and cost effectively. The results could achieve a multiple of the $400 billion in annual budgets spent on digital efforts that today do not fully reach their potential impact.
Lean Digital harnesses three complementary domains: digital process-centric technologies, design thinking methods focused on the end customer, and Lean principles that focus on agility. Specifically, Lean Digital leverages business transformation methods like Genpact’s patented Smart Enterprise Processes (SEPSM) framework, Systems of EngagementTM solutions and related digital integration services, as well as Data-to-ActionSM analytics that, combined, create intelligent operations able to sense, act effectively and efficiently, and learn from their actions.
“Lean Digital ushers in a new era in how our clients are approaching digital transformation – a shift that has driven adoption of these methods in many of our banking, insurance, manufacturing, life sciences, and consumer product clients, and that has driven our investments including the creation of an innovation lab in Silicon Valley to prototype and experiment with them,” said Tiger Tyagarajan, Genpact president and CEO. “Lean Digital is the result of Genpact’s industry and functional domain depth, process experience, and sustained investment in the application of Lean principles and technology to business operations for hundreds of clients over more than 15 years.”
More information about Genpact Lean Digital is available at genpact.com/leandigital featuring an in-depth whitepaper.
About Genpact
Genpact (NYSE: G) stands for “generating business impact.” We architect the Lean DigitalSM enterprise through a unique approach based on our patented Smart Enterprise Processes (SEPSM) framework that reimagines our clients’ middle and back offices to generate growth, cost efficiency, and business agility. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 70,000 people in 25 countries, with key management and a corporate office in New York City. We believe we are able to generate impact quickly and power Intelligent OperationsSM for our clients because of our business domain expertise and experience running complex operations, driving our unbiased focus on what works and making technology-enabled transformation sustainable. Behind our passion for technology, process, and operational excellence is the heritage of a former General Electric division that has served GE businesses since 1998. For additional information, visit www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.