Microsoft Azure OpenAI Service
coupled with Genpact's deep domain, data, technology, and AI
expertise provides a powerful combination to future-proof finance
organizations globally
NEW
YORK, April 30, 2024 /PRNewswire/ --
Genpact (NYSE: G), a global professional services and
solutions firm, announced a collaboration with Microsoft to drive
modern finance transformation across enterprises. The collaboration
focuses on using data, technology, and AI to fuel innovation for
finance organizations globally.
The financial sector is on the brink of realizing significant
benefits from the latest advancements in AI technology, and this
collaboration will bring Microsoft Azure OpenAI Service together
with Genpact's expertise to transform finance organizations into
engines of the future – enabling quicker decision-making supported
by a foundation of data and AI.
"Genpact has a decades-long expertise and leadership in finance
and accounting services," said Balkrishan "BK" Kalra,
President and CEO, Genpact. "Our strategic collaboration with
Microsoft will drive the next wave of finance transformation using
AI to transform finance functions into strategic, data-driven
operations that support growth and competitiveness."
Genpact's responsible use of Azure OpenAI Service is yielding
early results in modernizing finance functions
globally, supporting businesses with faster access to insights
and creating a modern, actionable finance data and analytics
strategy.
"AI is revolutionizing the finance industry by enabling
unprecedented levels of efficiency, accuracy, and innovation," said
Nicole Dezen, Chief Partner
Officer, Microsoft. "We are thrilled to partner with Genpact to
combine their domain expertise with Microsoft Azure OpenAI Service
to empower finance organizations to harness the power of data to
drive business transformation."
Genpact is also modernizing its own finance function through
extensive use of Microsoft's AI tools to drive superior employee
and supplier experience. By harnessing the power of data,
technology, and AI, Genpact has achieved strong results across
multiple areas of finance:
- Genpact has enhanced vendor management automation with advanced
AI algorithms to analyze vast amounts of supplier data, driving 85%
accuracy in response and doubling supplier satisfaction. This
data-driven approach, coupled with real-time communication, is
driving favorable deal negotiations and reduced disputes.
- Genpact's customer collections process has transformed with
AI-powered analytics and automation along with streamlining of
invoice and payment tracking.
- Genpact has implemented a large language model-based digital
assistant, which uses advanced natural language processing (NLP)
and machine learning (ML) to streamline tax document submissions.
This AI-driven innovation has led to a 53% reduction in support
tickets, and significantly improved employee experience.
This collaboration builds on Genpact's decades-long expertise in
AI innovation and its AI-first strategy focused on using data,
technology, AI, and industry-leading partnerships to drive outcomes
both internally and externally for shareholders, clients,
communities, and talent.
Visit these pages for more information on Genpact's
partners and Genpact's generative AI solutions.
About Genpact
Genpact (NYSE: G) is a global professional services
and solutions firm delivering outcomes that shape the future.
Our 125,000+ people across 30+ countries are driven by our
innate curiosity, entrepreneurial agility, and desire to
create lasting value for clients. Powered by our purpose – the
relentless pursuit of a world that works better for people
– we serve and transform leading enterprises, including
the Fortune Global 500, with our deep business
and industry knowledge, digital operations services, and
expertise in data, technology, and AI.
Get to know us at genpact.com and
on LinkedIn, X, YouTube,
and Facebook.
MEDIA CONTACTS:
Siya
Belliappa
Genpact Media Relations
+1
718-561-9843
siya.belliappa@genpact.com
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SOURCE Genpact