Genpact (NYSE: G), the architect of the Lean DigitalSM enterprise, and Arria NLG (AIM: NLG), a world leader in artificial intelligence and natural language generation, are partnering to help banks, financial services companies, and other enterprises dramatically transform how they leverage automation and run complex business reporting processes.
Genpact’s Lean DigitalSM approach combines design thinking methodology with Lean principles and advanced technologies from partners like Arria NLG to rearchitect business processes beyond the front end and into the middle and back office. The Arria NLG Platform uses natural language generation and other artificial intelligence technologies to provide real-time advanced data analysis and insights that help automate finance operations such as credit reporting and financial planning and analysis (FP&A).
Together, Genpact and Arria NLG make financial reporting operations more intelligent, able to execute faster and more accurately, and learn and adapt over time. The new solutions are part of Genpact’s Systems of EngagementTM portfolio, which embeds leading digital technologies within cloud-based offerings added on top of clients’ existing systems to streamline and transform operations in an agile and flexible manner.
Arria NLG joins Genpact’s Lean Digital incubation program, a unique Silicon Valley-based partner ecosystem that combines the power of new disruptive technologies with Genpact’s deep industry domain and hands-on process expertise, while leveraging the global reach of one of the largest real-world business processing environments.
FP&A traditionally has defied automation tools due to the complexity of data and source systems, as well as the qualitative judgment applied by analysts. Most credit reporting and related processes depend on simple spreadsheets and basic technology, disintegrated data sources, slow and manual processes, and rules-based analysis supplemented by human interaction, all of which hinder enterprises' ability to make fast, accurate, and insightful decisions and forecasts.
FP&A is now the latest of manually-dependent operations to be transformed by the power and promise of digital technology. Genpact and Arria NLG combine process improvement with artificial intelligence and automation tools to revolutionize the speed of reporting while increasing the consistency and quality of data. For example, in credit reporting, the solutions automatically gather and collate data from multiple internal and external sources; synthesize relevant information hundreds of times faster than traditional manual processes; and immediately provide accurate and consistent commentary, analysis, and forecasting.
“The intelligent automation that Genpact and Arria NLG deliver also eliminates human bias and potential for errors,” said Sanjay Srivastava, senior vice president and chief digital officer, Genpact. “As a result of dramatically improved speed and efficiency, clients are more effective in responding to new market opportunities, complying with evolving regulatory requirements, and competing effectively with new disruptors in their industries.”
“Through this relationship with Genpact, Arria NLG’s Platform reaches a far wider, global audience than can be achieved through our own direct sales process,” said Stuart Rogers, chairman and chief executive officer, Arria NLG. “Our investment in expanding our development and technical teams to support the projects coming from Genpact is a core part of our strategy, and we also look forward to partnering together in Genpact’s Silicon Valley innovation lab.”