stockrowWhat it does
Genpact helps businesses run and change their operations. It manages processes for clients, advises them on how to redesign those processes, and builds or supports the technology and data systems used to carry them out. Its clients include companies in financial services, consumer goods, healthcare, high technology and manufacturing.
The company divides its offerings into Core Business Services and Advanced Technology Solutions. Core services include managed operations, technology support and decision support. For example, Genpact can process invoices, support insurance claims, manage procurement or help maintain a client’s business applications. Its decision support work uses data and analytical models to help clients with functions such as supply chains and financial planning.
Advanced Technology Solutions include data and AI services, digital technology, advisory work and agentic solutions. The latter use AI models, automation and domain-specific context to deploy software agents that can handle processes alongside people. Genpact also develops its own technology and uses partner technology in its offerings.
Genpact serves clients from more than 35 countries and had over 146,500 employees as of December 31, 2025. Balkrishan Kalra is its president and chief executive officer. The company’s founding year and headquarters are not specified in the available company information.
How it makes money
Genpact earns revenue by providing managed services, consulting, technology work and software-based solutions to enterprise clients. Its reportable segments are organized by customer industry: Financial Services, Consumer and Healthcare, and High Tech and Manufacturing. Each segment sells both Core Business Services and Advanced Technology Solutions.
In 2025, total net revenue was $5.1 billion. Revenue from Core Business Services was $3.9 billion, or 76.3% of net revenue; Advanced Technology Solutions contributed $1.2 billion, or 23.7%.
Managed operations can include work such as payment processing, customer service, supply chain management and claims administration. Advanced technology work includes data engineering, AI solutions, digital technology and consulting. Genpact also offers agentic solutions that combine AI with automation and process-specific context.
Contracts commonly start with a master services agreement that sets general terms. Separate statements of work specify the services and pricing. Most revenue comes from statements of work lasting two to five years, although a master agreement generally does not require a client to buy a particular amount of services. For agentic solutions, Genpact typically uses master software-as-a-service agreements; for other advanced technology work, it typically uses consulting agreements.
Pricing varies with the engagement. Under some transaction-based and fixed-price statements of work, Genpact can retain part of the productivity benefits it achieves; some contracts also require minimum benefits to be passed to clients. Revenue and expenses increase as services are ramped up to the agreed level. Client relationships can also lead to additional assignments, but clients typically retain Genpact on a non-exclusive basis.
| Product or service | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| Core Business Services | $3.9 billion | 38.1% | 3.69% |
| Digital Operations | $2.6 billion | 26.0% | 4.11% |
| Data-Tech-AI | $2.4 billion | 24.0% | 9.33% |
| Advanced Technology Solutions | $1.2 billion | 11.9% | 17.0% |
Customers and how it sells
Genpact’s customers range from large enterprises to smaller emerging companies. Its financial services clients include banks, payment providers, insurers and other financial firms. Consumer and Healthcare clients include retailers, consumer goods companies, pharmaceutical businesses, health insurers and providers. High Tech and Manufacturing clients include software and semiconductor companies, manufacturers, energy businesses and logistics companies.
In 2025, High Tech and Manufacturing represented 39.3% of net revenue, Consumer and Healthcare represented 34.0%, and Financial Services represented 26.7%. The company serves clients from more than 35 countries. It does not disclose individual customer concentration figures in the available information.
Genpact markets through a business development team that works with existing accounts and seeks new clients. Lead client partners and global relationship managers support existing relationships, with help from industry and technical specialists. The sales cycle is typically shorter for advisory and project work than for a large business-process engagement.
Services are delivered through more than 100 delivery centers in more than 25 countries, as well as employees working at client sites or virtually. Genpact chooses delivery locations according to client needs and the skills and cost of employees at each location. In fiscal 2025, 75% of net revenue was earned in U.S. dollars.
| Region | Revenue, FY2025 | Share | Change on the year |
|---|---|---|---|
| India | $3.0 billion | 58.7% | 8.02% |
| Asia, other than India | $788.1 million | 15.5% | 12.5% |
| North and Latin America | $730.4 million | 14.4% | 6.88% |
| Europe | $578.4 million | 11.4% | −7.00% |
Suppliers and costs
Genpact’s principal delivery resource is its workforce rather than a disclosed manufacturing base. Personnel expenses are the main component of cost of revenue and also form a major part of selling, general and administrative expenses. They include salaries, benefits, stock-based compensation, recruitment and training. Other operating expenses include facilities, travel, IT and consultants.
The company uses its own technology alongside partner technology. It also uses third-party and client software platforms to provide services; clients can authorize it to use their third-party software licenses. Genpact’s partnerships include technology companies, industry specialists and emerging innovators. No sole-source supplier is identified in the available information.
Costs are incurred primarily in Indian rupees, with additional costs in U.S. dollars and other currencies. Genpact uses currency contracts to hedge much of its net exposure, although its ability to hedge is limited by local law, market liquidity and other practical considerations.
Wages in delivery-center countries have historically risen year over year. The company uses training, workforce management and location choices to address wage pressure, and some contracts allow it to share part of inflation-related cost increases with clients.
- Revenue$5.1B
- Cost of revenue−$3.2B
- Selling, general and administrative−$1.0B
- Other operating costs−$34.1M
- Operating income$750.2M
Competitive position
Genpact competes with large accounting and consulting firms, business-process service providers, IT services and transformation companies, and smaller specialists in particular industries, locations or technologies. Client companies can also use their own in-house teams or global capability centers instead of hiring an outside provider. Improving generative and agentic AI capabilities may bring additional competition from technology platforms and AI-native companies.
No competing company is named as a competitor in the available company information. Genpact identifies industry and process expertise, technology capabilities, service quality, pricing, relationships and global reach among the factors clients consider. Its clients typically hire it on a non-exclusive basis.
Our reading: Genpact’s process knowledge and experience running client operations can help it develop services tailored to particular industries, but the information does not establish how difficult competitors would find those capabilities to replicate. Its services range from finance and accounting to insurance claims and supply chains.
Our reading: Long-running client work and dedicated delivery teams can support relationships and create opportunities for follow-on services, but non-exclusive contracts limit the protection those relationships provide. Genpact trains dedicated teams in clients’ processes and business environments.
Our reading: Its delivery network, proprietary technology and partnerships provide breadth, although the available information does not establish a distinct advantage over named rivals. Genpact combines its own software and methods with partner and client platforms.
Growth opportunities
Genpact is building its Advanced Technology Solutions business around data and AI, digital technology, advisory services and agentic solutions. The company aims to help clients move from AI experimentation toward operations in which software agents work alongside people. Its agentic offerings use AI models, automation and process context to redesign workflows.
Advanced Technology Solutions revenue was $1.2 billion in 2025, compared with $1.0 billion in 2024. Genpact introduced the Advanced Technology Solutions and Core Business Services revenue breakdown during 2025. The categories intersect with its earlier Data-Tech-AI and Digital Operations classifications, so they should not be added together.
Existing clients are another source of business opportunities. As Genpact works with a client and learns its processes, it can identify additional services to offer, including advanced technology solutions. Its business development team also seeks new clients in selected industries and geographic markets.
The company is hiring for data, AI, product development and technology consulting roles while training its existing workforce. It is also incorporating AI agents into its own workforce over time. Partnerships support co-development and joint marketing, as well as access to technology and specialized capabilities.
Genpact also advises clients seeking to set up their own global business solutions or capability centers. Those services can include location selection, operating-model design, hiring, transition and delivery optimization.
- $4.0BFY2021
- $4.4BFY2022
- $4.5BFY2023
- $4.8BFY2024
- $5.1BFY2025
Structural risks
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Technology and competition: AI and other advanced technologies are changing Genpact’s industry. Improving generative and agentic AI could bring competition from technology platforms and AI-native providers, while clients may choose to run processes in-house.
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Wages and retention: Genpact expects general wage increases in the future, which could adversely affect margins. Higher employee attrition could increase recruitment and training costs and reduce efficiency and productivity.
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Currency exposure: Revenue and costs are earned and incurred in different currencies. Genpact bears a substantial portion of exchange-rate risk despite contract provisions and hedging, and its ability to hedge is subject to practical and legal limits.
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Regulation and data: Privacy, security and other laws vary across jurisdictions and can impose compliance costs. Regulatory failures can lead to penalties, restrictions on services or contract termination, and changes to data-transfer rules could require Genpact to modify its approach.
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Client demand and sales cycles: Economic uncertainty and changing trade policy have affected the business and may continue to do so. Extended slower sales cycles could materially affect results; the loss of a significant client is also a risk.
Bottom line
Our reading
Our reading: Genpact combines labor-intensive managed services with consulting and technology work, using its knowledge of client processes to pursue additional assignments. Its long-duration statements of work support ongoing relationships, but clients are not generally obliged to buy a set amount and typically hire it non-exclusively. The business has an opportunity to sell more AI-enabled services while facing wage, currency and technology-driven competitive pressures.