Genpact

September 27, 2005 05:00 ET

Global Outsourcing Leader Launches New Identity: Gecis Global is now Genpact; Company on Track to Hit $1 Billion Annual Revenues, 30,000 Employees by 2008

NEW DELHI, India--(CCNMatthews - Sep 27, 2005) -

Today one of the pioneers and major players of global outsourcing takes a new name. Gecis Global is now Genpact.

Genpact President & CEO Pramod Bhasin said the company expects to pass the $1 billion mark in annual revenues by 2007-2008 and have a global workforce of 30,000.

NEW CORPORATE IDENTITY

When GE commercialized its GE Capital International Services unit on December 30, 2004, it began searching for a name to communicate its heritage and value proposition.

Employees and customers suggested names by the hundreds. One of the brainstorms surfaced Genpact.

"We chose it because it so aptly communicates our brand promise - generating value, commitment, partnership and impact," said Pramod Bhasin, president and chief executive officer, Genpact.

The company's tagline is Global Business Impact(SM).

"Global enterprises today want impact," said Bhasin. "They want partners they can trust to work with them and through process excellence measurably improve their margins, cash performance, and speed to market."

The Genpact logo, developed by Interbrand, includes a symbol in the form of a stylized arrow impacting a blue field.

"It conveys pushing the envelope, aiming higher, and, of course, business impact," said Bhasin.

GE HERITAGE

Bhasin credited GE with realizing the potential of a large, educated, English-speaking workforce in India and capitalizing on it.

"We were the pioneers," he said, reflecting on the company's beginnings in 1997. "But we knew there was enormous potential."

For years the organization was known by its acronym, "Gecis." As GE expanded, so did its outsourcing operation - adding offices in Hyderabad, Bangalore, Jaipur and Kolkata, as well as expanding into China, Eastern Europe, and Mexico. The company is already considering two additional sites in India, another in China, and a predominantly French-speaking facility in Europe or North Africa.

NEW STRUCTURE... $160 MILLION IN NEW ORDERS SIGNED

On December 30, 2004, GE unleashed Gecis to grow on its own by selling 60 percent of its equity to two firms well known for their investments in IT-enabled, knowledge-based companies: General Atlantic and Oak Hill Capital Partners.

In the past year Gecis has lived up to its promise of not only serving GE's 35 distinct businesses but many other new companies as well. Since January 1, Genpact has received orders worth $160 million from more than a dozen new customers. Bhasin said Genpact's new clients are large enterprises from such industries as airline transportation, auto manufacturing, banking, insurance, pharmaceutical, and entertainment.

"We were confident that our pioneering spirit and GE foundation of integrity and Six Sigma rigor would be a winning combination in the marketplace," noted Bhasin, adding that Genpact now has 20 Global Fortune 500 customers, besides GE, across six verticals: banking & finance, insurance, manufacturing, transportation, automotive, and business services.

GROWTH IN 2005

In addition to signing new customers, Genpact this year has been expanding in other ways...

-- opening new operations centers in Kolkata, India, and Bucharest, Romania;

-- acquiring Creditek, a leading order-to-cash and receivables management firm in the United States; and

-- signing an exclusive partnership with Liberata, one of the UK's leading business process outsourcing providers particularly strong in the life and pension market.

PATH FORWARD

While GE, the world's ninth largest company, will continue to be a significant customer for Genpact, Bhasin predicted the number and size of other blue-chip clients will grow as Genpact attracts global enterprises searching for process excellence.

"We are absolutely committed to offering best-in-class products and services, and we will continue to innovate to ensure we meet that promise," said Bhasin.

Most of the innovation is occurring at the high end of the company's process areas, which are:

-- finance & accounting

-- sales & marketing analytics

-- customer service

-- financial services collections & operations

-- supply chain & procurement services

-- aftermarket services

-- information technology services, and

-- enterprise application services & program management.

Bhasin thanked the company's employees, customers, and shareholders: GE, General Atlantic, and Oak Hill.

"You have made this journey possible - one that has lifted the lives of thousands of people and their families across six countries," said Bhasin. "But mostly I want to thank our employees, because it is the talent and can-do spirit of our 19,000 associates that gives us the most promise for growth in the years ahead."

Background

Genpact drives process improvements to help global enterprises improve their revenue, margins, speed, and customer relationships. A joint venture between GE and private equity firms General Atlantic and Oak Hill Capital Partners, Genpact has 19,000 highly skilled associates specialized by industry (banking/finance, insurance, manufacturing, transportation, automotive, and business services) and by the impact areas they serve (finance & accounting, sales & marketing analytics, customer service, financial services collections & operations, supply chain & procurement services, aftermarket services, information technology services, and enterprise application services & program management). With a direct sales network spanning Europe, North America and Asia, Genpact is headquartered near Delhi in Gurgaon, India, and has operations centers across India as well as in China, Hungary, Romania, the United States and Mexico. For more info: www.genpact.com

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