Pramod Bhasin Founded Genpact For Generating Business Impact.

Genpact is an American Multinational Business service provider firm. It provides solutions in digital transformation services like digital core, digital analytics, and Artificial Intelligence. It was legally domiciled in Bermuda, having its headquarters in New York City, New York. Its founder and former CEO is Pramod Bhasin, and NV Tyagarajan is the current CEO of Genpact. It has expanded its business in more than 30 countries, reaching a revenue of $4.14B (March 2022).

Foundation and History

Genpact was founded in 1997 by Pramod Bhasin as GE capital international services (GECIS), a Business Unit within Generic Electric with only 20 employees under the leadership of Pramod Bhasin. GECIS played a significant role in the growth of GE between 1998-2001. In 2003, GE reduced its stakes in GECIS by 40%.

Independence

At the beginning of 2005, Genpact became an independent firm starting to provide its services outside of Generic Electrics. It changed its name to “Genpact” with the idea of “Generating global impact”. Also, In 2005, It was listed under the symbol “G” on NYSE (New York Stock Exchange) and has been trading publically since then. It launched a joint venture that same year with NDTV, an Indian company, to offer its outsourcing services to the media industry. In 2011, the company shifted its headquarters to New York, expanding its services in Europe, and Pramod Bhasin resigned his position as the CEO and became Vice-Chairman of the company. NV Tyagarajan became the New CEO of Genpact. Bain Capital was the largest shareholder of the firm in 2012.

Growth and Revenue

At the beginning of 1998, the company hired 800 clients and made a revenue of four million US dollars by 2001, became a company with 12,000 employees, and played a tremendous role in GE’s growth. In 2003, it hired about 17 000 people from India, the US, China, Hungary, and Mexico. In 2005, after its separation from GE, it recorded 493 million US dollars. In 2008, It achieved a revenue of $1 billion, of which half of its clients was other than GE. By this time, it has reached more than 100k employees with 800 clients worldwide with a revenue of $4.14B.

Acquisitions

It also acquired many Renowned companies, such as Endeavour Software Technologies, an enterprise mobility software company, and TandemSeven, an experience design company, OnSource, An IaaS Provider, Commonwealth Informatics, Barkawi Management Consultants, a supply chain management firm etc. It has its main offices in London, Hyderabad, and Delhi.

Pramod Bhasin – Founder of Genpact

Pramod Bhasin is a Wonderful Entrepreneur and former CEO of Genpact. he started Genpact and led it to the firm it has now become. He has a bachelor’s in commerce from Shri Ram College of Commerce and is a CA from Mclinktock & Co, London. He was head of GE capital In Asia and gave 25 years of his life to the growth of GE and Genpact. Genpact was awarded the Global Shared Service Leader of the Year under his leadership. He was also cited and awarded for his contribution. People also called him a finance wizard who started the BPO industry. He was a great Entrepreneur as well as a bright, down-to-earth human being.

NV Tyagarajan – CEO

He is the President and current Chief Executive Officer (CEO) of Genpact. He is known as the Tiger Tyagarajan for his tremendous work in Generic Electrics. Tiger started his career in India with the Unilever Group and then moved to Citibank’s Consumer Financial Services business. He joined GE Capital in 1994 as head of Risk in India and became CEO of GE Capital’s Global Consumer Finance and Auto Financial Services business in India. In GE capital, he served as the global operating leader in the United States. Tiger to collaborates with C-suite executives of large multinational corporations, helping them drive change in their companies to improve their competitiveness. He majored in finance and marketing and holds a Master’s degree in Business administration from the Indian Institute of Management (Ahmedabad). Also, have a degree in Mechanical Engineering from the Indian Institute of Technology (Mumbai). He led Genpact through its crucial time. He is also a core business strategist. He also works with a non-profit organization.

These renowned figures like Pramod Bhasin and Tiger Tyagarajan and many hard-working employees working under them made Genpact the leading Service provider firm it is today.