Genpact Announces Renewed Partnership with Ferring Pharmaceuticals

Rhea-AI Summary

Genpact (NYSE: G) has announced the extension of its partnership with Ferring Pharmaceuticals through a renewed multi-year agreement. The collaboration focuses on transforming Ferring's finance, accounting, and procurement operations using advanced technologies, including AI. Genpact will continue to streamline workflows, optimize resource allocation, and enhance financial transactions by automating key processes through partnerships with Xelix and Blackline. The partnership, which already encompasses over 40 digital transformation projects, aims to deliver operational savings and enable Ferring to respond quickly to market demands.

Positive

• Multi-year contract renewal with major pharmaceutical client
• Partnership expansion across 40+ digital transformation projects
• Implementation of automation and AI solutions promising operational cost savings

Negative

• None.

Renewed multi-year partnership to support Ferring Pharmaceuticals' operations in response to rapid business growth

NEW YORK, Nov. 21, 2024 /PRNewswire/ -- Genpact (NYSE: G), a global professional services and solutions firm delivering outcomes that shape the future, today announced the extension of its partnership with Ferring Pharmaceuticals, a research-driven biopharmaceutical company that has operating subsidiaries in more than 50 countries and markets its medicines in over 100 countries. The renewed multi-year agreement will continue the transformation of Ferring's finance, accounting, and procurement operations with advanced technologies, including AI.

"To drive growth in a complex and competitive environment, pharmaceutical companies need modern, scalable and efficient solutions," said Sanjiv Tandon, Global Head of Life Sciences and Healthcare, Genpact. "Our ongoing partnership with Ferring Pharmaceuticals leverages our industry expertise and a shared vision to harness advanced technologies, setting a new standard for innovation and enabling Ferring to meet evolving demands with speed and accuracy."

Under the agreement, Genpact will continue to streamline workflows, optimize resource allocation, and improve the accuracy and speed of financial transactions. In collaboration with technology partners like Xelix and Blackline, Genpact will automate key processes, such as invoice management and procurement workflows, while establishing robust data analytics capabilities for real-time financial insights. These enhancements aim to deliver significant operational savings and enable Ferring to adapt swiftly to evolving customer and patient needs.

"Our partnership with Genpact spans over 40 digital transformation projects, with a strong focus on AI applications," said Dominic Moorhead, Chief Financial Officer, Ferring Pharmaceuticals. "By standardizing processes and leveraging advanced technologies, like AI, we're enhancing accuracy, real-time insights, and overall efficiency to support our purpose of building families and helping people live better lives."

This collaboration underscores Ferring Pharmaceuticals' commitment to innovation, enabling the company to thrive and deliver its range of innovative treatments to change the lives of people and families around the world.  

To learn more about Genpact's solutions and services for Healthcare and Life Sciences industries, click here.

About Genpact

Genpact (NYSE: G) is a global professional services and solutions firm delivering outcomes that shape the future. Our 125,000+ people across 30+ countries are driven by our innate curiosity, entrepreneurial agility, and desire to create lasting value for clients. Powered by our purpose – the relentless pursuit of a world that works better for people – we serve and transform leading enterprises, including the Fortune Global 500, with our deep business and industry knowledge, digital operations services, and expertise in data, technology, and AI.

Get to know us at genpact.com and on LinkedIn, X, YouTube, and Facebook. 

MEDIA CONTACT:

Sue Martenson
Genpact Media Relations
+1 978-905-9582
susan.martenson@genpact.com

 

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SOURCE Genpact Ltd.

FAQ

What is the new partnership between Genpact (NYSE: G) and Ferring Pharmaceuticals?

Genpact has renewed its multi-year partnership with Ferring Pharmaceuticals to transform their finance, accounting, and procurement operations using advanced technologies including AI.

How many digital transformation projects has Genpact (NYSE: G) implemented with Ferring?

The partnership between Genpact and Ferring Pharmaceuticals spans over 40 digital transformation projects, with a strong focus on AI applications.

What technologies will Genpact (NYSE: G) use in its partnership with Ferring?

Genpact will utilize AI and automation technologies through partnerships with Xelix and Blackline to streamline workflows and improve financial transactions.