Genpact, a professional services firm, today announced its intention to expand its strategic alliance with Advantage Solutions, a business solutions provider, to address finance and supply chain challenges in the consumer packaged goods (CPG) and retail sectors.
The new Partnership between Genpact and Advantage Solutions aims to tackle inefficiencies in order-to-cash and supply chain management, including deduction leakage, improve recovery of invalid claims and manual customer service operations, and enhance supply chain planning, logistics, and fulfillment processes.
As the collaboration evolves, the companies plan to introduce new solutions aimed at meeting the changing needs in the CPG and retail sectors, ensuring clients benefit from cutting-edge innovations and improved operational efficiencies.
“We plan to combine Advantage Solutions’ expertise in client management and retail connectivity with Genpact’s data, technology, and AI solutions to enable retailers and CPG companies to streamline processes and drive efficiencies,” said Tarun Chopra, Unit Leader, Consumer Goods, Genpact. “In the deductions space, our strong track record in recovering revenue leakage, using advanced analytics and AI, aims to both recover and prevent losses, delivering significant financial gains for our clients.”
Leakage can cause a loss of 7% to 10% in revenue due to inefficiencies in the deductions process. Genpact solves this issue by leveraging advanced data analytics, generative AI, and automation technologies such as Genpact Cora to improve productivity in contract automation, order management, cash applications, and deductions.
Genpact’s and Advantage’s planned solution for supply chain management is expected to include a SaaS-based platform that will digitize order management and trade promotions deductions, enhancing speed, accuracy and customer satisfaction. SMBs (small to midsize businesses) and brands often face challenges with cost-effective, reliable and expedited order-to-cash management.
“Under our new expected collaboration, clients would be able to enjoy enhanced, digitized, and automated operations,” said Brandon Thornell, Executive Vice President for Branded Services of Advantage Solutions. “They will be able to harness the power of data, analytics and digital offerings on a global scale, providing both cost efficiencies and growth opportunities. In the supply chain domain, we are committed to optimizing operations through data-driven insights that enhance inventory management, reduce transportation costs, and improve demand forecasting.”
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