New York, N.Y.—April 15, 2013—Genpact Ltd., a global leader in business process management and technology services, launched its Smart Decision Lab to facilitate collaboration and innovation with clients and industry experts to leverage the use of data, analytics and technology in conjunction with process expertise.
Most recently, Genpact’s Smart Decision Lab worked with Symantec to deploy the Genpact Inventory Optimizer that solves problems in the areas of performance reporting; sales and operations planning; material requirements planning; demand forecasting; and inventory level optimization. This enables clients to proactively plan and respond to dynamic market conditions, improve service levels and generate higher return on assets.
“It has been exciting for Symantec’s Appliances Division to work with Genpact’s Smart Decision Lab and see firsthand how collaboration nurtures innovation by tackling some challenges we have been facing in the area of global spare parts and finished goods planning,” said Amit Shrivastava, Senior Operations Manager, Appliance Solutions, Symantec Corp. “Genpact’s Inventory Optimizer application provided us much needed end-to-end visibility into planning tradeoffs—forecast accuracy, inventory and service levels. Moreover, easy configurability allowed us to adapt built-in algorithms to our business objectives. The Smart Decision Lab team is staffed with exceptional individuals with deep expertise in analytics. I was also impressed with their IT capabilities, responsiveness and ability to challenge some of our underlying assumptions.”
To enable companies to make smarter business decisions, Genpact’s Smart Decision Lab creates new lines of competency; builds solution prototypes; tests new business use cases; and develops intelligent technology applications. The lab comprises PhDs in quantitative methods, algorithmic scientists, Big Data specialists, technical solution architects and data modelers.
Genpact’s Smart Decision Lab also utilizes the following competencies to help clients run businesses effectively:
- Prediction and optimization
- Packaged reporting
- Master data management (MDM) and data quality
- Intelligent systems
- Big Data analytics
- Text mining and mobile analytics
The Smart Decision Lab collaborated with several clients to develop solutions including a customized campaign management platform to improve response rates; a text mining engine to resolve first call resolution (FCR) in contact centers; and an incentive compensation tool to drive sales force effectiveness.
As a result of the Smart Decision Lab, Genpact expanded its relationships with two global banks. Genpact combined Big Data, including the clients’ financial advisors’ behavior pattern analysis, portfolio data and text mining, with their communication platforms and trade reconciliation data. This enabled the banks to enhance sales performance while also improving their compliance and risk detection systems.
“We expect our Smart Decision Lab to be one of the biggest drivers of innovation in helping our clients make smarter decisions through data-driven solutions,” said Pankaj Kulshreshtha, Senior Vice President, Analytics and Research, Genpact. “Genpact’s legacy of process excellence and the use of smart technology further strengthen our deep analytics expertise, enabling us to be at the forefront of maximizing data and extracting insights for specific industry needs.”
The lab is currently working on other solution areas such as supply chain optimization, fraud management, compliance monitoring, feedback solutions, and enterprise search and collaboration.