Professional services and solutions firm Genpact has partnered with Microsoft in a move to propel modern finance transformation across businesses.
Through the collaboration, both parties aim to foster innovation for finance organisations across the globe by focusing on using data, technology, and artificial intelligence (AI).
The partnership will integrate Microsoft Azure OpenAI Service and Genpact’s expertise to modernise finance institutions. This will facilitate faster decision-making backed by a robust foundation of data and AI.
Besides, Genpact will transform its own finance function through the extensive use of Microsoft’s AI tools, enabling the company to harness superior employee and supplier experience.
Microsoft chief partner officer Nicole Dezen said: “AI is revolutionising the finance industry by enabling unprecedented levels of efficiency, accuracy, and innovation.
“We are thrilled to partner with Genpact to combine their domain expertise with Microsoft Azure OpenAI Service to empower finance organisations to harness the power of data to drive business transformation.”
The collaboration leverages Genpact’s extensive experience in AI innovation over decades. The AI-first approach prioritises the utilisation of data, technology, AI, and strategic partnerships to deliver results for shareholders, clients, communities, and talent, both internally and externally.
According to Genpact, its use of data, technology, and AI has allowed it to improve vendor management automation and customer collections process.
The company has also deployed a large language model-based digital assistant that uses advanced natural language processing (NLP) and machine learning (ML) to optimise tax document submissions.
Genpact president and CEO Balkrishan Kalra said: “Our strategic collaboration with Microsoft will drive the next wave of finance transformation using AI to transform finance functions into strategic, data-driven operations that support growth and competitiveness.”