Genpact, a global leader in digitally-powered business process management and services, today announced its participation as a member of the new GE Digital Alliance Program that is dedicated to growing the digital industrial ecosystem. Genpact has been an early adopter of the Predix platform, GE’s cloud platform-as-a-service for the Industrial Internet. In partnering now with Genpact, GE Digital recognizes Genpact’s strong capabilities in driving innovation and transformation in the age of the Internet of Things, which is revolutionizing the industrial world by connecting assets with data and analytics, all with unprecedented speed and scale.
Genpact’s deep expertise in industrial processes provides companies with a competitive edge to best leverage the power of the Predix platform, and as a former division of GE, Genpact has a special understanding of GE’s operations and systems. Genpact is training approximately 500 technical resources on the Predix platform, and aligning an equal number of functional experts over the next 12 months for a fully-integrated delivery model that drives greater business impact. Genpact already has approximately 100 professionals working on the Predix platform and related projects.
The Industrial Internet brings great promise to re-architect legacy processes and technologies, yet only if companies can effectively derive the most value from their systems and data. Too often, digital and analytics transformation initiatives are not integrated with core operations and do not result in actual impact.
The partnership with GE Digital recognizes Genpact’s effectiveness in optimizing technology investments. Genpact builds and sustains an Industrial Internet of Things Data-to-Insight-to-Action strategy by orchestrating, industrializing, and supporting analytics-based processes to generate growth, cost efficiency, and business agility. Genpact reimagines industrial processes across three areas that:
- Combine integration of operational data through front and back-end systems;
- Analyze industry and business scenarios, including using big data analytics; and
- Support action through data interpretation, handling and routing of alerts, mobility, and user experience tools that facilitate action across stakeholders.
As a result, asset data is aligned to respective business processes and analyzed in the context of and integrated within operations, which closes the data-to-insight loop.
By combining the Predix platform with Genpact’s expertise in process excellence, engineering, analytics, and digital technology, companies can derive greater value and accelerated business impact such as:
- Increased revenue: Proactive parts replacement and better installation base coverage can provide up to 15 percent more revenue by reducing revenue leakage and designing new business models.
- Greater cost-efficiencies: Centralized field service and contact center operations, and smarter inventory management and returns processes can lower costs by up to 10 percent.
- Improved profit margins: Streamlining operations and deploying large-scale automation can potentially improve margins by up to 15 percent.
- Effective risk management: Remote monitoring of downtime and reliability-based failure forecasting enables shorter repair times to drive more effective risk management.
- Enhanced customer experience: Greater insights from data and higher performing products and services enable smarter decisions, providing an overall better customer experience.