Genpact, which manages business processes for companies throughout the world, has announced that it is ranked among the world’s top ten outsourcing service providers by the International Association of Outsourcing Professional’s (IAOP) 2008 Global Outsourcing 100 ranking, published in the current edition of Fortune magazine.
This marks the second consecutive year that Genpact achieved a top-ten ranking and the company is once again recognized fro strength in the area of “executive leadership.”
The Global Outsourcing 100 and its sub-lists were originally established to provide companies with an objective methodology for comparing service providers. Now in its third year, it provides essential reference guides for companies seeking new and expanded relationships with the best companies in the industry.
IAOP judges review candidate applications using a process that examines 18 criteria to effectively develop the ranking. The final rankings are based on a weighted average of the judges’ scores on demonstrated competencies, size and growth, management capabilities and customer references.
"Genpact is grateful to IAOP and the 2008 Global Outsourcing 100 judging committee for including us in this highly respected ranking of the world's top outsourcing firms," said Genpact President and CEO Pramod Bhasin, in a company statement.
"We also owe a tremendous 'thank you' to our clients, who constantly challenge us to improve the way we do business and develop innovative solutions to industry-wide issues around cash flow and IT optimization. They have helped Genpact evolve into a world-class business services provider and we would not be eligible for this recognition without their support."
The Global Outsourcing 100 lists include companies from around the world that provide the full spectrum of outsourcing services such as information technology and business process outsourcing. Services also include facility services, real estate and capital asset management, manufacturing and logistics.
Genpact focuses on combining process expertise, information technology and analytic capabilities with operational insight and experience in diverse industries in order to provide a wide range of services using its global delivery platform.
The company helps companies to improve the ways in which they business through the applications of 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.
Business process outsourcing continues to be a controversial topic as consumers continue to demand local support, yet companies seek to reduce costs by outsourcing their processes to overseas locations.
Despite the challenges that it faces in the industry, Genpact has proven to be a strong player, demonstrated by its placing among the top ten in the 2008 Global Outsourcing 100 ranking. This recognition will help to continue to drive the company’s strength in the market and provide a competitive edge.
Susan J. Campbell is a contributing editor for TMC and has also written for eastbiz.com. To see more of her articles, please visit Susan J. Campbell’s columnist page.