Monday 20th March, 2017
Professional services firm Genpact has signed an agreement to acquire Rage Frameworks a leading knowledge-based automation technology and services, providing Artificial Intelligence (AI) for Enterprises.
Genpact will embed Rage's AI in business operations and apply it to complex enterprise issues to allow clients to generate insights and drive decisions and action, at a scale and speed that humans alone could not achieve.
NV 'Tiger' Tyagarajan, president and CEO, Genpact, said, "In this time of unprecedented change, clients are looking for a different kind of partner – one that is able to combine the latest technological advances and real-world domain expertise with a deep understanding of their business to create meaningful transformation. The addition of Rage enhances our ability to do that and to drive digital-led innovation at scale."
Genpact plans to expand Rage's AI offerings and take them to both existing and new clients, addressing existing and emerging application areas including supply chain optimisation, supplier risk management, supply chain cost audits, purchase order automation, and automated contract reviews.
The acquisition follows a successful strategic partnership between the two companies over the last 18 months. The two companies have partnered on a number of strategic client engagements, including an automated management reporting solution for a large global insurer and global CPG leader, as well as automated financial spreading solutions for several large financial institutions, among others.