Genpact Limited (NYSE: G), a business process outsourcing company, announced yesterday that it is planning on expanding its presence in Colombia. Genpact announced it is opening a new facility in Bogota where it will provide large-scale finance and accounting services as well as procurement and supply chain BPO functions.
Genpact has a unique history, starting as a division of GE in 1997, it was originally built as a provider of business process services to GE’s businesses. In 2005, Genpact split from GE and ultimately went public on the NYSE in 2007.
The company plans on expanding the facility to upwards of 1,500 employees over the next three to five years. Genpact will face some unique recruiting challenges in Colombia, a country long known for security and political risks.
Genpact Vice Chairman Pramod Bhasin stated,
Colombia offers a favorable business climate for Genpact and for our clients – a rich talent pool with a high literacy rate and complementary skill sets, a healthy and growing economy, a number of universities with strong business curricula, a diverse array of industries, and open trade practices. Genpact is honored to establish its roots here in Colombia and become a part of its culture and thriving business community.
Tiger Tyagarajan, president and CEO, Genpact, echoed Bhasin’s comments, saying,
Genpact’s expansion of operations into Colombia further supports our strategy of bringing our global business process expertise to rapidly growing economies to serve global corporations expanding there as well as the domestic market. Colombia and the broader Latin American market provide exactly this opportunity…We look forward to growing our Colombia business with a number of our existing clients as well as helping Latin American corporations attain global best-in-class business processes.
Genpact, a global leader in business process and technology management services, provides the science behind superior business processes. Genpact’s unique process thought leadership captured in its Smart Enterprise Processes (SEPSM) framework, combined with deep industry domain expertise, delivers better business outcomes across the enterprise, rather than simply providing efficiency gains within a single function. Driven by a passion for process and operational excellence based on its Lean and Six Sigma DNA, Genpact’s 51,000+ professionals around the globe deliver world-class business process management services.
Genpact also enables companies worldwide to make smarter decisions, helping them to drive revenue growth, compete more successfully, mitigate risk effectively, and improve operating margins and working capital. Genpact’s Smart Decision Services deliver business insights to its clients through targeted analytics, reengineering expertise, and advanced risk management for better business decisions. For more information, visit www.genpact.com.