Genpact, a global professional services firm focused on delivering digital transformation, is further expanding its operations in Germany to meet client demand for a range of process-driven transformation services solutions for supply chain management, finance and accounting, procurement, and analytics across key industries, including high tech, retail, consumer goods, life sciences, and industrial manufacturing.
“German companies across industries are looking for a trusted partner to help them drive digital transformation to gain agility and efficiencies that enable them to quickly respond to market disruptions and increasing levels of complexity, and we believe we are perfectly positioned to be that partner,” said Tiger Tyagarajan, chief executive officer, Genpact. “I am particularly excited that Genpact is expanding in a market with such a highly-skilled workforce. Genpact’s culture places a premium on intellectual curiosity and agile thinking, making the German workforce a good fit.”
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Today’s announcement is an extension of Genpact’s ongoing strategy of continuously evaluating and expanding its global footprint and offerings to meet the digital transformation needs of clients in key markets around the world.
“The German market provides significant potential for professional services providers as enterprises spend $45–$55 BN USD on digital transformation, technology, and technology-enabled services,” said Peter Bendor-Samuel, chief executive officer, Everest Group.
COVID-19 contributed to a 4.8 percent decline in Germany’s GDP at a time when the country had fallen behind many Organization for Economic Co-operation and Development nations in the utilization of digital technologies and services. Digital solutions that help businesses optimize their front-, middle-, and back-end processes will help drive a more rapid recovery across Germany’s famed Mittelstand and among larger multinational businesses with a presence in this market.
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“With digital transformation investments expected to exceed $9.0T by 2025 and growing at 14.9% CAGR over this same period, more companies are taking an enterprise-wide approach to their digital transformation strategies. What’s surprising is that Germany, despite being the fourth largest economy (based on GDP), has a little over 34% of businesses taking an enterprise approach to digital transformation, as compared to 53% globally,” said Shawn Fitzgerald, research director, worldwide digital transformation strategies, IDC. “Partnering with service firms that have digital transformation expertise is an effective approach to successful digital business transformation and sustainable competitive advantage. This is especially true since services are almost 42% of digital transformation investments across hardware, software, and services.”
Driven by client demand and market opportunity, in 2018, Genpact strengthened its supply chain capabilities in Germany through its acquisition of Barkawi Management Consultants, a global supply chain technology services provider, helping clients in that market to better navigate the complexities of a rapidly changing landscape, driving significant transformative impact in their operations. Building on the success of that work, the growth of Genpact in Germany will further expand its supply chain management expertise and will provide clients with a full range of process-driven transformation services, including finance and accounting, procurement, and analytics, that are critical to driving the end-to-end transformation needed for long-term competitive advantage.
“This is a critical time for the German market, where agile, digitally-led enterprises will drive the post-COVID recovery for this market. We’re excited to help German clients rethink business processes that focus on increasing productivity and fueling growth,” said former CEO of GE Germany and Austria, Prof. Dr. Stephan Reimelt, senior executive advisor for Genpact. “With our combined expertise in business process and digital innovation, Genpact has the right mix of skills and technologies to accelerate their digital transformations.”
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