Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, today announced that it has been named a Leader for the fourth consecutive year in the 2024 Everest Group Procurement Outsourcing (PO) Services PEAK Matrix® Assessment. This recognition underscores Genpact’s excellence in source-to-pay (S2P) services, as well as its innovation in advanced technologies including generative AI, and its partnerships with leading technology providers which together create competitive advantages for global enterprises.
“Transforming procurement with technology and data analytics at the core is essential for helping our clients maximize spend under management, reduce supply chain risk, and improve both supplier relationships and user experiences,” said Steve Simko, Global Procurement Service Line Leader, Genpact. “We continue to develop our gen AI capabilities and enhance our S2P service offerings knowing that deep domain expertise, advanced technologies, and dynamic talent are critical to serving clients across industries and geographies.”
Everest Group evaluated 24 global PO service providers through its rigorous RFI process, client references, and market analyses. Amongst these, 22 providers were also assessed for their Source-to-Contract (S2C) capabilities, with Genpact recognized as a Leader in the 2024 S2C Services PEAK Matrix® Assessment. Leaders are distinguished by their superior technology capabilities, innovative engagement models, ongoing investment in sourcing and procurement capabilities, and operational scale to meet diverse client needs.
“Genpact offers end-to-end procurement services through its Center of Excellence-led capabilities in sourcing, category management, and integrated procure-to-pay (P2P) models,” said Shirley Hung, Partner, Everest Group. “Supported by advisory capabilities, a strong digital ecosystem, and focus on user experience, Genpact is a Leader in Everest Group’s 2024 Procurement Outsourcing PEAK Matrix® Assessment.”
Genpact’s PO package of services offers comprehensive solutions for sourcing and category management, integrated P2P, and advisory services. Its Leader ranking reflects its ability to:
- Provide deep domain expertise, advanced technologies, and consulting capabilities for end-to-end procurement services and digitalization
- Offer a strong digital ecosystem of best-of-breed procurement solutions and enabling technologies through third-party partnerships, including niche providers, beyond its in-house tools
- Enhance the user experience by offering a unified front-end solution across S2P processes.
Genpact continues to enhance its integrated P2P offerings with methodologies such as digital smart enterprise processes and transformation maturity models, as well as solutions for planning, master data management, and vendor onboarding. The company also continues to expand its delivery presence with centers for P2P support across the US, Bulgaria, and the Philippines.
“Genpact has also invested in integrating generative AI and automation across S2P processes such as supplier discovery, contract management, and P2P helpdesk,” continued Hung. “In addition, it offers procurement-as-a-service to clients for a centralized procurement experience in partnership with ServiceNow.”
For more information on Genpact’s sourcing and procurement services, visit: https://www.genpact.com/services/sourcing-and-procurement.
About Everest Group
Everest Group is a leading global research firm helping business leaders make confident decisions. Everest Group’s PEAK Matrix® assessments provide the analysis and insights enterprises need to make critical selection decisions about global services providers, locations, and products and solutions within various market segments. Likewise, providers of these services, products, and solutions, look to the PEAK Matrix® to gauge and calibrate their offerings against others in the industry or market. Find further details and in-depth content at www.everestgrp.com.
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.
