Finance
Genpact partners with Microsoft for finance transformation across enterprises – Times of India
This collaboration aims to combine Microsoft Azure OpenAI Service with Genpact’s extensive expertise to propel finance organizations into the future.The goal is to facilitate faster decision-making supported by a robust foundation of data and AI.
Balkrishan “BK” Kalra, President and CEO of Genpact, emphasized the company’s long-standing leadership in finance and accounting services, stating that the collaboration with Microsoft will usher in the next wave of finance transformation.
Nicole Dezen, Chief Partner Officer at Microsoft, highlighted the transformative potential of AI in the finance industry, expressing excitement about partnering with Genpact to empower finance organizations to harness the power of data for business transformation.
Genpact is not only driving transformation for its clients but also modernizing its own finance function through extensive use of Microsoft’s AI tools. By harnessing the power of data, technology, and AI, Genpact has achieved significant improvements across various areas of finance:
- Enhanced vendor management automation with advanced AI algorithms, resulting in 85% accuracy in response and doubled supplier satisfaction.
- Transformed customer collections process with AI-powered analytics and automation, coupled with streamlining of invoice and payment tracking.
- Implemented a large language model-based digital assistant to streamline tax document submissions, leading to a 53% reduction in support tickets and improved employee experience.
This collaboration underscores Genpact’s commitment to AI innovation and its strategy of leveraging data, technology, AI, and strategic partnerships to drive outcomes for shareholders, clients, communities, and talent. For more information on Genpact’s partners and generative AI solutions, visit their website.
The Finance Ministry and the Histadrut labor federation have come to an agreement on the outline for the 2025 budget, according to a statement on Tuesday.
The agreement came after the government approved the state budget for 2025 and against the backdrop of the challenges facing the economy due to the security situation and the continuation of the war.
The agreements relate to payment to employees in the security and cleaning fields as part of the purchase of services from employers in the public sector and will work to promote a sectoral minimum wage in the cleaning industry.
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“We’re seeing everyone recognise we’ve got to build up resiliency,” said Jane Fraser, CEO of Citigroup. “It’s easy to say globalisation is dead. It’s not. It’s just changing tremendously.”
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