Genpact (NYSE:G), which manages business processes for companies around the world, today announced that it has been awarded the EMPI-Indian Express Indian Innovation Award for its role in pioneering the BPO sector – from the concept stage to a viable and widely replicable business model that has led to India’s growth as the ‘outsourcing hub’ for the world. Former President, Dr. A.P.J. Abdul Kalam presented the gold trophy to Pramod Bhasin, President & CEO of Genpact, at an award function held in New Delhi on December 22, 2007.
Genpact filed its nomination by showcasing innovations done in Business Model, Process Development, Productivity Enhancement, Institutional Networking and Alliances and Human Resource Management. The award citation noted: “Genpact developed and introduced a series of innovative processes and practices to tackle uncharted challenges related to logistics, safety, security and technology thrown up by this new mode of service business.”
The EMPI-Indian Express Indian Innovation Awards, which is in its second year now, seeks to recognize organizations – in the government, corporate or development sector – which, through the implementation of unique ideas or processes, have been able to benefit a large number of people at the grassroots level.
The awardees were picked from more than 400 applications after a rigorous three-stage evaluation process. Genpact was among the 14 winners that were selected from 20 organizations who made the final short-list. The selection panel was headed by eminent Indian scientist MGK Menon and included academics, technologists, consultants and administrators. The Boston Consulting Group was the research and process validation partner for this study.
Genpact President & CEO, Mr. Pramod Bhasin said, “Innovation is a core value at Genpact and is at heart of what we have done and how we plan to grow. We have pioneered the BPO industry not only in India but also in China and Eastern Europe. This award is recognition of the pioneering spirit that Genpact is known for."
Besides being acclaimed as a pioneer in its 10th year of operations, Genpact has been recognized for its innovative people practices, having the lowest attrition level in the BPO sector, providing opportunities to its fresh-from-school employees to obtain graduate degrees in their first three years of work with the company, and its graduate employees to pursue higher studies through its learn-while-you-earn education@work programs.
Genpact has been ranked No. 1 on the 2007 list of top 15 ITeS-BPO Companies in India by NASSCOM. It was recently named the ‘Company of the Year’ at the Indiatimes BPO Industry Awards held in New Delhi. Genpact was also rated amongst the top 3 BPO employers for 2007 in the recently concluded Dataquest-IDC E-Sat (Employee Satisfaction) Survey.
About Genpact
Genpact manages business processes for companies around the world. The company combines process expertise, information technology and analytical capabilities with operational insight and experience in diverse industries to provide a wide range of services using its global delivery platform. Genpact helps companies improve the ways in which they do business by applying Six Sigma and Lean principles plus technology to continuously improve their business processes. Genpact operates service delivery centers in India, China, Hungary, Mexico, the Philippines, the Netherlands, Romania, Spain and the United States. For more info: www.genpact.com.