Genpact Awarded Two U.S. Patents that Help Companies Increase Value from Process Transformation and Intelligent Automation
Genpact , a professional services firm focused on delivering digital transformation, announced today that the United States Patent and Trademark Office has awarded the company two patents for business transformation frameworks: the first for Genpact ProcIndex, a diagnostic tool that uses smart analytics and automation to measure process health, and a second for its Intelligent Automation Index, designed to drive greater value from digital investments by identifying where automation will have its biggest potential. Both Genpact patents allow companies to generate insights at speed to deliver strategic business outcomes.
Widespread digital disruption has put transformation at the heart of many business strategies, underscoring the importance of innovative tools companies can use to reimagine operations, while helping to optimize return on investment. Genpact ProcIndex and the Intelligent Automation Index both address these needs, and leverage Genpact’s digital technology, domain expertise, and deep experience in process improvement to provide meaningful business transformation.
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Genpact ProcIndex tracks and evaluates both quantitative and qualitative process health parameters across the enterprise via cutting-edge methodologies and diagnostic tools to interpret data intelligently. Built on cloud technology and leveraging Genpact’s Smart Enterprise Processes (SEPSM) proprietary framework, ProcIndex creates a holistic view that can measure and quantify the state of finance and accounting process health against best-in-class models to drive strategic process innovation, standardization, and plan for enterprise transformation. This approach provides a major improvement over traditional benchmarking methods that do little to identify a process’ overall health.
The Intelligent Automation Index creates a detailed roadmap to deploy technology that can drive increased value across an enterprise. Powered by more than half a million unique algorithm combinations that assess the automation potential of processes, it designs, and evaluates end-to-end automation processes. The index combines process-centric digital technologies, Lean methods, and analytics with design-thinking methodologies to pinpoint areas to maximize return on investments, enabling businesses to make the best technology investment decisions. It objectively assesses an organization’s existing level of automation maturity and identifies activities within processes that companies can automate using digital interventions, such as robotic process automation, machine learning, and cognitive intelligence.
As an integral part of Genpact’s transformation approach, both patented frameworks have been used by more than 100 clients. For example, ProcIndex helped a leading global consumer packaged goods company improve the effectiveness of its enterprise processes, cutting the time it took to identify significant transformation opportunities by 50%, leading to a 40% reduction in its cost of finance operations. And, using the Intelligent Automation Index with a global diversified bank, Genpact reduced process cycle times by up to 75%, driving greater accuracy and heightened productivity.