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Tuesday 13 February 2018

Genpact's investment in digital starting to pay off

GenpactGenpact announced its full year results for 2017 yesterday with total revenue up year-on-year 6% to $2.74bn.  Operating profit was also up 8% year-on-year to $429.6m with a corresponding margin of 15.7%.

Genpact is a business changing on a number of fronts and 2017 has seen it become much less reliant on former parent GE (Genpact grows away from GE). Indeed, BPO revenue for the year from GE was down 32% to $176m whilst GE IT Services was down 6% to $94m.

Shrinking GE revenues were more than compensated for by growing with clients elsewhere. Sales were strong with new bookings up 5% to $2.8bn. The Global Clients (i.e. non-GE) BPO business grew by 15% delivering for clients in the insurance, consumer goods, banking, manufacturing, life sciences and tech sectors. Revenues from IT services declined by 3% last year.

The real change is in the nature of the work that Genpact is winning. As we have covered previously Genpact has been investing in digital for some time (Genpact driving out legacy with digital) which is starting to deliver. Transformational services were up 25% during the year driven by demand for digitally-led solutions and operations.

Digital and intelligent operations are underpinned by the Genpact Cora platform which brings together a thread of different technologies in a modular fashion, along with a governance layer designed to integrate automation, analytics and AI in one place.

Genpact is a BPO business moving in the right direction making the necessary changes. Management at Genpact is looking to see more of the same in 2018 expecting revenues to be between $2.93bn to $3.0bn with the non-GE part of the business growing between 9% and 11% with similar margins overall to last year.

Posted by Marc Hardwick at '08:03' - Tagged: genpact  

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