Genpact Limited announced a collaboration with Microsoft to drive modern finance transformation across enterprises. The collaboration focuses on using data, technology, and AI to fuel innovation for finance organizations globally. The financial sector is on the brink of realizing significant benefits from the latest advancements in AI technology, and this collaboration will bring Microsoft Azure OpenAI Service together with Genpact's expertise to transform finance organizations into engines of the future ?

enabling quicker decision-making supported by a foundation of data and AI. Genpact's responsible use of Azure OpenAI Service is yielding early results in modernizing finance functions globally, supporting businesses with faster access to insights and creating a modern, actionable finance data and analytics strategy. Genpact is also modernizing its own finance function through extensive use of Microsoft's AI tools to drive superior employee and supplier experience.

By harnessing the power of data, technology, and AI, Genpact has achieved strong results across multiple areas of finance: Genpact has enhanced vendor management automation with advanced AI algorithms to analyze vast amounts of supplier data, driving 85% accuracy in response and doubling supplier satisfaction. This data-driven approach, coupled with real-time communication, is driving favorable deal negotiations and reduced disputes. Genpact's customer collections process has transformed with AI-powered analytics and automation along with streamlining of invoice and payment tracking.

Genpact has implemented a large language model-based digital assistant, which uses advanced natural language processing (NLP) and machine learning (ML) to streamline tax document submissions. This AI-driven innovation has led to a 53% reduction in support tickets, and significantly improved employee experience.