Genpact (G) Citi's 2024 Global TMT Conference summary

Company overview and market positioning

• Originated from GE, now diversified with over $4.5B in revenue and 75% annuitized contracts.

• Focuses on Fortune 500 clients, offering data tech, AI, and digital operations solutions.

• Competes with large IT players, leveraging deep domain expertise in finance, supply chain, and procurement.

Strategic execution: 3+1 framework

• Partnerships: Collaborates with hyperscalers like Microsoft, AWS, Google, and others to deliver client solutions, aiming to increase partnership-driven revenue.

• Data tech and AI: Significant investment in generative AI, with a tenfold increase in related bookings and broad organizational training.

• Simplification: Reorganized into 12 business units for clearer accountability and improved client focus, leading to better-than-expected performance.

• Client Zero: Uses internal adoption of new technologies as proof points for clients, driving productivity and cost savings.

Financial performance and outlook

• Solid earnings in 2024 attributed to improved execution and prudent guidance.

• Assumes a stable business environment for the remainder of the year, with 75% of revenue annuitized.

• Expects acceleration in discretionary data tech and AI work if macro conditions improve.