ReutersGenpact reported 14% growth during the January-March quarter at $923 million but anticipates a de-growth of 3-5% in the second quarter.
Bengaluru: Business process management company Genpact has seen increased business from clients during the Covid-19 induced lockdown when most employees were delivering services remotely, its top executive said, as clients shifted work from other vendors.
The company said all business verticals -- banking and capital markets, insurance, life sciences and healthcare, consumer and retail, and Hi-Tech -- contributed significantly to growth during the first quarter.
“Through the 90-day period, we have picked up volume from others. We have picked volume from the ecosystem,” Tiger Tyagarajan, President and CEO of Genpact, told ET in an interview.
The key drivers that helped business volumes pick up included relationships with clients, ability to deliver uninterrupted services during the pandemic, and a decision by some of the clients to diversify services to multiple partners.
Genpact reported 14 per cent growth during the January-March quarter at $923 million but anticipates a de-growth of 3-5 per cent in the second quarter.
The company, which did not provide a growth guidance for the full year 2020 anticipating uncertainties, said it has a strong pipeline of orders from clients globally for its services.
“Our pipeline is at a historic high,” said Tyagarajan.
While decision making on big deals has slowed, the company continues to engage in new conversations.
“As long as the conversations are active at some point of time they will convert into business. But when (they work out) that depends on many factors,” he said.
BPM companies have flagged slow-paced growth over the next couple of quarters as clients delay decisions on new projects and seek discounts on existing services.
Genpact’s rival WNS said clients across industry sectors were impacted due to the pandemic and the company is seeing at least “six months’ pause” in business growth.
Genpact is also helping clients by reducing staff, it said. “We have redeployed talent from one client to another without moving location. For example, one client had 800 employees and then we managed to do that work with 600 because the volume is down. Those 200 people were redeployed after having trained them in the insurance domain within 24-48 hours,” said Tyagarajan.
The BPM company said it would hire fewer people in 2020 compared with the previous years.
Going forward, Tyagarajan said, organisations would seek a combination of onshore, offshore, near-shore and work from home services delivery. The work-from-home model would not necessarily outweigh the existing working mode, he added.
The company said all business verticals -- banking and capital markets, insurance, life sciences and healthcare, consumer and retail, and Hi-Tech -- contributed significantly to growth during the first quarter.
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The key drivers that helped business volumes pick up included relationships with clients, ability to deliver uninterrupted services during the pandemic, and a decision by some of the clients to diversify services to multiple partners.
Genpact reported 14 per cent growth during the January-March quarter at $923 million but anticipates a de-growth of 3-5 per cent in the second quarter.
The company, which did not provide a growth guidance for the full year 2020 anticipating uncertainties, said it has a strong pipeline of orders from clients globally for its services.
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“Our pipeline is at a historic high,” said Tyagarajan.
While decision making on big deals has slowed, the company continues to engage in new conversations.
“As long as the conversations are active at some point of time they will convert into business. But when (they work out) that depends on many factors,” he said.
BPM companies have flagged slow-paced growth over the next couple of quarters as clients delay decisions on new projects and seek discounts on existing services.
Genpact’s rival WNS said clients across industry sectors were impacted due to the pandemic and the company is seeing at least “six months’ pause” in business growth.
Genpact is also helping clients by reducing staff, it said. “We have redeployed talent from one client to another without moving location. For example, one client had 800 employees and then we managed to do that work with 600 because the volume is down. Those 200 people were redeployed after having trained them in the insurance domain within 24-48 hours,” said Tyagarajan.
The BPM company said it would hire fewer people in 2020 compared with the previous years.
Going forward, Tyagarajan said, organisations would seek a combination of onshore, offshore, near-shore and work from home services delivery. The work-from-home model would not necessarily outweigh the existing working mode, he added.
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