1. Accenture for business operations and digital transformation.

2. ADP for broader back-office and business process management.

• Intelligent Operations Services: Management and optimization of critical business processes such as finance and accounting, supply chain, and customer service, powered by digital technologies and AI.
• Digital Transformation Consulting: Strategic advisory and implementation services to help clients modernize operations, adopt new technologies, and drive enterprise-wide digital change.
• Data, AI, and Analytics Solutions: Development and deployment of data-driven insights, artificial intelligence, and advanced analytics capabilities to improve decision-making and automate processes.
• Cloud and Technology Services: Implementation, integration, and management of cloud-based platforms and enterprise applications to enhance infrastructure and operational efficiency.

Genpact (G) primarily sells its services to other companies (B2B). It is a global professional services firm focused on delivering digital transformation, consulting, and business process outsourcing solutions.

According to Genpact's 2023 Annual Report (10-K), no single client accounted for more than 10% of its total revenues in 2023, 2022, or 2021. This indicates a highly diversified customer base, meaning Genpact does not have a few dominant "major customers" in terms of revenue concentration that are publicly disclosed by name.

However, Genpact's customer base primarily consists of large multinational corporations and Global Fortune 500 companies across a wide range of industries. These are the types of major customers it serves, providing services tailored to their specific sector needs. Key industries served include:

• Banking and Financial Services
• Insurance
• Consumer Goods and Retail
• Life Sciences and Healthcare
• High Technology
• Industrial Manufacturing
• Services
• Media and Entertainment
• Public Sector

While specific client names are often confidential due to the nature of their B2B contracts, Genpact does occasionally announce partnerships with large enterprises. An example of a public company that Genpact has worked with for digital transformation services is:

• Enbridge Inc. (ENB) - A major North American energy infrastructure company.

It's important to reiterate that while companies like Enbridge are clients, their contribution to Genpact's total revenue does not exceed 10%, reflecting Genpact's strategy of a broad and diversified client portfolio rather than reliance on a few major accounts.

• Amazon.com, Inc. (AMZN)
• Microsoft Corporation (MSFT)
• Alphabet Inc. (GOOGL)
• SAP SE (SAP)
• Oracle Corporation (ORCL)

Balkrishan "BK" Kalra, President and Chief Executive Officer

Balkrishan “BK” Kalra is Genpact's President and Chief Executive Officer, appointed to the role in 2024. He is also a member of the company's board of directors. Kalra is responsible for accelerating Genpact's growth, delivering shareholder value, and maintaining its status as an employer of choice. He is recognized for pioneering innovations, impactful transformations, and strategic acquisitions, leveraging expertise in digital, AI, and data-driven decision-making. BK was part of the seed team that founded Genpact when it was a unit of General Electric, and his vision has been instrumental in the company's organic expansion and strategic acquisitions. Early in his career, he worked in investment banking. He joined Genpact in 1999 and has held various leadership roles, including leading the Financial Services and Consumer and Healthcare businesses. He holds an MBA in finance and a bachelor's degree in chemical engineering, and is a certified Lean and Six Sigma Black Belt.

Mike Weiner, Chief Financial Officer

Mike Weiner serves as Genpact's Chief Financial Officer. He is responsible for leading strategic growth initiatives and ensuring the company delivers robust financial performance and sustained shareholder value. Weiner brings deep capital markets expertise, having guided capital offerings, mergers and acquisitions, restructuring, and business integrations to deliver profitable, scalable growth. He is a chartered financial analyst and earned an MBA from Hofstra University and a bachelor's degree in business administration from Adelphi University.

Sanjay Srivastava, Chief Digital Strategist

Sanjay Srivastava is the Chief Digital Strategist at Genpact. In his previous role as Chief Digital Officer, he built out the company's offerings in artificial intelligence, data and analytics, automation, and digital technology services, overseeing Genpact's digital platform, Cora, and all digital products and services globally. Before joining Genpact, Sanjay was a Silicon Valley serial entrepreneur, having built four high-tech startups in areas such as internet edge distribution, data center automation, predictive algorithmic software, and enterprise finance SaaS. Each of these startups was successfully acquired by Akamai, BMC, FIS (formerly SunGard), and Genpact, respectively. He also held operating leadership roles at companies including Hewlett Packard, Akamai, and SunGard. He received his graduate degree from the University of Minnesota and his undergraduate degree from the Indian Institute of Technology.

Riju Vashisht, Chief Growth Officer

Riju Vashisht is the Chief Growth Officer at Genpact and also leads Enterprise Services, Partnerships, and Alliances. In this role, she is pivotal in advancing Genpact's growth trajectory by expanding strategic client relationships and championing the company's AI-First strategy through core services. She also oversees Genpact's marketing function and leads the expansion of services in key growth markets. Vashisht joined Genpact in 2001 and has been instrumental in the firm's growth through various leadership roles in HR, global operations, and key business segments. Before that, she was Chief Operating Officer of Genpact's Consumer Goods, Retail, Life Sciences, and Healthcare businesses. She began her career in HR at Unilever and also worked at Whirlpool and played a key role in setting up Walmart India's operations. She holds a master's degree in business administration and a Bachelor of Science degree in Electrical Engineering.

Vipin Gairola, Global Operating Officer

Vipin Gairola is Genpact's Global Operating Officer. He is responsible for all of Genpact's global operations, client service delivery across operations, and digital and technology services. A key part of his role involves driving continuous improvement and agility, increasing efficiency in operations, and optimizing data, AI, and technology enablement. With over 26 years of experience, Vipin has worked across service delivery, account management, sales, transition, and solution development for large businesses. Before joining Genpact in 2023, he spent over two decades in leadership roles at Accenture, where he was responsible for driving overall business growth and strategy for operations, leading mergers and acquisitions for Accenture operations, and managing investments. He also worked with Asea Brown Boveri (ABB) and HCL Tech. Vipin holds a bachelor's degree in mechanical engineering and an MBA in manufacturing management.

The rapidly advancing maturity and accessibility of artificial intelligence (especially generative AI), combined with sophisticated automation tools (such as Robotic Process Automation) and low-code/no-code development platforms, represent a clear emerging threat. These technologies empower Genpact's enterprise clients to automate, optimize, and re-engineer a significant portion of their business processes and functions internally, with substantially reduced reliance on external human-led services or extensive consulting engagements. This allows companies to build robust internal capabilities and deploy AI-driven solutions directly, potentially diminishing the demand for Genpact's core offerings in business process outsourcing (BPO), process re-engineering, and IT services. This shift is analogous to how disruptive models like Netflix's streaming service obviated Blockbuster's physical distribution or Uber's platform bypassed traditional taxi infrastructure, by offering clients a more direct, self-service, and potentially cost-effective path to achieving their operational goals.

Genpact (NYSE: G) operates in several significant addressable markets, primarily focusing on business process management, consulting services, and digital transformation. The market sizes for these key services are substantial on a global scale, with North America often representing a significant portion of these markets.

• Business Process Management (BPM) Services: The global business process management market was valued at approximately USD 17.78 billion in 2024 and is projected to reach USD 70.93 billion by 2032, demonstrating a compound annual growth rate (CAGR) of 18.6% from 2025 to 2032. North America held the largest share of this global market, accounting for 43.14% in 2024.
• Consulting Services: The global consulting services market, which includes strategy, management, operations, financial advisory, human resources, and IT consulting, was estimated at around USD 250 billion in 2023. This market is expected to grow to approximately USD 470 billion by 2032, with a CAGR of 7% from 2024 to 2032. North America currently holds the largest share of the consulting services market.
• Digital Transformation Services: The global digital transformation market, encompassing various services and solutions like AI, cloud computing, big data analytics, and cybersecurity, was valued at USD 809.12 billion in 2024. It is projected to reach USD 3,571.67 billion by 2033, exhibiting a CAGR of 16.01% from 2025 to 2033. North America dominates this market, holding a share of over 44.2% in 2024.

Genpact (G) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:

1. Accelerated Growth in Advanced Technology Solutions (ATS) and AI: Genpact is heavily investing in and seeing significant traction from its Advanced Technology Solutions (ATS) and Data-Tech-AI segments, which include generative AI and agentic operations. This segment is experiencing accelerating year-over-year revenue growth and is expected to continue to be a primary driver. The company has launched new products like AI Maestro, the Genpact Insurance Policy Suite, and the Genpact Record-to-Report Suite, and is expanding its AI Gigafactory, supporting approximately 100 clients.
2. Strategic Shift to Subscription-Based and Outcome-Based Models: Genpact is transitioning its revenue model from traditional resource-based billing to subscription and consumption-based pricing, particularly for its software and agentic offerings. This strategic pivot is anticipated to lead to higher gross margins and more stable, recurring revenue streams.
3. Expansion of Market Share through Strategic Partnerships and Client Engagement: The company is focused on expanding its market share by strengthening strategic partnerships, which have already shown substantial year-over-year revenue growth. Additionally, Genpact is actively signing new, large deals and leveraging its existing client relationships to drive further business.
4. Execution of the GenpactNext Framework: The "GenpactNext" initiative represents Genpact's strategic pivot to become an "AI-first, data-led innovation company." This framework integrates advanced technologies with Genpact's core competencies in process management, domain expertise, and operational data, aiming to accelerate innovation and sustainable growth for both clients and the company itself.
5. Increased Client Demand for Business Transformation and Cost Optimization: There is an ongoing robust demand from clients for business transformation services and solutions that enable cost optimization. Genpact is well-positioned to capitalize on this trend by offering its expertise in implementing complex technologies, including AI, to streamline core processes and enhance operational intelligence.

Share Repurchases

• Genpact's Board of Directors authorized a $500 million increase to its share repurchase program in February 2025, bringing the total authorization to $2.75 billion.
• The company repurchased common shares totaling $182.9 million year-to-date as of the third quarter of 2025.
• Annual share repurchases were approximately $253 million in 2024, $225.4 million in 2023, and $214.1 million in 2022.

Share Issuance

• Proceeds from the issuance of common shares under stock-based compensation plans were $12.17 million for the first nine months of 2025 and $14.347 million for the first nine months of 2024.
• The overall number of common shares outstanding has seen a net decrease from approximately 182.9 million at the end of 2022 to about 172.4 million as of November 2025.

Outbound Investments

• In June 2025, Genpact acquired XponentL Data for approximately $160.2 million, including cash at closing and an earn-out, to enhance its capabilities in AI transformation, data strategy, and engineering.
• Other strategic acquisitions in the last few years include Hoodoo Digital in 2022 to expand customer experience journey offerings, Enquero in January 2021 for data, cloud, and analytics capabilities, and Something Digital in October 2020 for digital commerce.

Capital Expenditures

• Genpact projects capital expenditures for fiscal year 2025 to be approximately 2.5% of its estimated revenue of $4.95 billion, equating to about $123.75 million.
• The primary focus of these expenditures is on building capacity, scaling sales teams, and developing AI/GenAI capabilities and consulting expertise.