Genpact acquires Symphony Marketing Solutions
SOURCE: Press Release
DATE: Feb 3rd, 2010
The firm Symphony Marketing Solutions is a firm spun of by Romesh Wadhwani, who has been on the forbes richest 400 list and made his fortune selling Aspect Software to i2 which went through a major downturn during the tech bubble crash. He invests in multiple firms and Symphony Marketing solutions is one of them. With an employee base of 1,200 it will potentially add analytics capability to Genpact offerings and also provide small revenue growth.
Genpact has been doing analytics work for GE and similar firms via it Bangalore center for a while but has not grown that business significantly. Looks like Genpact continues to grow their footprint in the BPO space without acquiring any IT related firms or ERP firms.
Genpact continues to do small deals which may not signficantly move the needle in terms of growth opportunities for the firm.
Genpact Limited (NYSE: G), a leader in managing business processes for companies around the world, today announced the acquisition of Symphony Marketing Solutions, Inc. (SMS), a leading provider of analytics and data management services with expertise in the retail, pharmaceutical and consumer packaged goods industries. SMS has more than 1,200 employees in India and the United States. Concurrently with the closing of the SMS acquisition, Information Resources, Inc. (IRI), one of the world’s leading providers of enterprise market information solutions and services and a strategic client of SMS, has executed an eight-year contract under which SMS will provide end-to-end data management and analytics services to IRI.
Genpact was one of the first companies to offer high-end analytics services from delivery centers in India and today is one of the largest global providers of the full spectrum of analytics services. The acquisition of SMS expands Genpact’s scale and depth in the retail, pharmaceutical and consumer packaged goods industries and reinforces Genpact’s leadership position in the knowledge process outsourcing industry.
Customer transactions are generating billions of data points a year, but the skills required to effectively manage, integrate, and analyze the massive quantities of data are beyond the core competencies of many companies. Genpact has developed modular analytics processes that can be easily embedded in a client’s information management systems to convert this data into insights. Combined with our rigorously scientific Smart Enterprise Processes (SEPSM), Genpact uses these insights to help companies increase sales, reduce costs and improve business effectiveness.
“This acquisition allows both companies to combine expertise and significantly enhance the value we bring to our clients,” said Pramod Bhasin, president and CEO of Genpact. “SMS has a strong client-centric and performance driven culture that aligns very well with Genpact. SMS brings deep domain expertise in the retail, pharmaceutical and consumer packaged goods verticals. This expertise will not only allow us to offer a broader range of services ranging from core finance and accounting, procurement and supply chain to data management and advanced analytics solutions, but will also enhance our Smart Enterprise Processes (SEPSM) in these verticals by leveraging strong insights to deliver accelerated business impact to clients worldwide.”
“As SMS and its parent company Symphony Technology Group (STG) assessed ways to build leadership in the data management and marketing operations space, we realized the need to have critical mass in terms of size, scale and client relationships to significantly accelerate our growth and to enable IRI and other clients to offer even more value to their end-customers,” said Dr. Romesh Wadhwani, STG’s founder, chairman and CEO. “The combination of SMS’s domain expertise and capabilities in the retail, pharmaceutical and consumer packaged goods verticals with Genpact’s scale, breadth of services, global delivery footprint, Lean Six Sigma approach, and unparalleled process expertise, creates a compelling value proposition for our clients and employees to drive growth,” he added.
About Genpact
Genpact is a leader in managing business processes, offering a broad portfolio of enterprise and industry-specific services. The company manages over 3,000 processes for more than 175 clients worldwide. Putting process in the forefront, Genpact couples its deep process knowledge and insights with focused IT capabilities, targeted analytics and pragmatic reengineering to deliver comprehensive solutions for clients. Lean and Six Sigma are ingrained in the company’s culture, which views the management of business processes as a science. Genpact has developed Smart Enterprise Processes (SEPSM), a groundbreaking, rigorously scientific methodology for managing business processes, which focuses on optimizing process effectiveness in addition to efficiency to deliver superior business outcomes. Services are seamlessly delivered from a global network of centers to meet a client’s business objectives, cultural and language needs and cost reduction goals. Learn more at www.genpact.com.
About Symphony Marketing Solutions
Founded as part of the Symphony Technology Group family of companies, Symphony Marketing Solutions (SMS) is now the gold standard for creation of both market and customer insights. This is made possible by our globally sourced data management and analytical services, deep Sales and Marketing expertise, and a services organization that executes with uncompromising attention to quality and security. Employing over 1,200 data, analytics and sales/marketing experts worldwide, SMS leverages a multi-shore delivery model to provide rapid, responsive and results-driven solutions to savvy marketers in key industries. Symphony Marketing Solutions is the preferred alternative for many of the world’s strongest brands. More information is available at www.symphonyms.com.
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