Genpact which manages business processes for companies around the world announced it has won the coveted position of highest ranking Procurement Outsourcing provider by Brown-Wilson Group's 50 Best Managed Outsourcing Vendors in 2007.
The annual study, conducted by Brown-Wilson Group and The Black Book of Outsourcing (Wiley Publishers), recognizes excellence among global service providers that demonstrate leadership and outstanding performance in the areas of Supply Chain Management, Purchasing & Transaction Management, Category Management, and Logistics Spend & Contract Management.
The study surveyed over 3,500 senior procurement, supply chain management and chief financial and operating executives to benchmark enterprise procurement outsourcing and plans. Genpact scored the highest in 13 of the 18 unique ranking criteria, leading the Supply Chain, Logistics and Category Management categories.
According to the independent rankings, Genpact exceeded expectations in categories such as improving customer efficiency and effectiveness, offering best-in-breed technology and process improvement, providing flexible pricing, driving operational performance in the breadth and depth of offerings, eliminating excessive buyer supervision with faster deployments, accurately representing service deliverables in marketing processes, providing highest level of security and data back-up services, and offering a high level of support and customer care.
“In their recent Worldwide Procurement BPO 2007 Service Provider Analysis report, IDC commented that our strength has been more in the procure-to-pay back end than in the strategic sourcing and category management side,” said Navanit Samaiyar, Senior Vice President and Business Leader, Procurement Supply Services, Genpact, “The high marks given by our peers, customers and employees in the Category Management, Supply Chain and Logistics categories further support our continued commitment to provide a wider range of value-added services to our customers.”
Research conducted by the Black Book of Outsourcing predicts the worldwide BPO market will hit $700 billion in 2008 as more companies focus on their core and embrace business process outsourcing. Procurement outsourcing is among the fastest growing BPO areas, prompting a projected increase to $6 billion in 2008.
“We understand that corporations are requiring a new breed of business partner as they focus more on their core business,” says Samaiyar, “Our sourcing and procurement services offer clients a complete end-to-end solution: an unmatched value proposition of service delivery and continuous improvement through our history of leadership and experience in Lean Six Sigma.
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