The News: Global professional services firm Genpact and ServiceNow announced today an expanded partnership to deliver Source‑to‑Pay applications across finance and supply chain operations. The Genpact Source‑to‑Pay offering uses ServiceNow AI capabilities to help accelerate team productivity, simplify the user experience, and increase cost efficiency. You can read the latest release from ServiceNow on this partnership announcement on the company’s website.
Genpact and ServiceNow to Offer Source-to-Pay Applications
Analyst Take: Professional services firm Genpact announced it had partnered with workflow platform and application vendor ServiceNow to deliver Source-to-Pay applications across finance and supply chain operations, which are designed to enable a seamless purchasing and case management process across work teams. Conducting a business purchase is often significantly more complex than completing a consumer purchase, due to the number of stakeholders (purchaser, user, influencer, approver, etc.), the various steps involved in the process, and the potential for multiple fulfilment partners, including suppliers, distributors, and logistics organizations. As a result, procurement tasks have long been conducted manually, with little automation or efficiency.
The new applications being jointly offered by Genpact and ServiceNow include:
- Sourcing and Procurement Operations (SPO): Genpact’s procurement‑as‑a‑service seamlessly integrates ServiceNow’s SPO solution with Genpact’s sourcing and procurement expertise, delivering a centralized and efficient digital procurement experience for suppliers, buyers, and employees.
- Supply Chain: Genpact’s intuitive supplier communication solution is designed to foster better collaboration with suppliers, identify and resolve issues faster, and reduce the time required to qualify new suppliers and manage the supplier lifecycle, ultimately leading to smoother transactions and improved relationships.
- Accounts Payable: Genpact’s payables‑as‑a‑service blends ServiceNow’s Accounts Payable Operations (APO) with Genpact’s deep expertise across the accounts payable domain. It delivers a unified interface fostering an enhanced collaboration between suppliers, business units, and finance.
Genpact and ServiceNow Partnership Helps to Reshape Procurement Operations
The new Source-to-Pay offering from Genpact leverages native AI capabilities built into the ServiceNow platform. It enables finance and procurement teams to quickly and accurately identify, understand, and extract data from finance and supply chain documents, even when the documents have varied text, formatting, and templates. This can reduce the amount of manual, time-consuming work and lets teams focus on strategy, execution, and other higher value tasks.
In the release announcing the partnership, the pair’s joint customer, Dropbox, was able to use the combined offering to cut its procurement cycle by 50% and improve the user experience, while driving efficiency and maintaining cost control.
Efficiency and Friction Reduction Permeating Across Workflows
The partnership to deliver more seamless procurement and purchasing experiences to customers reflects a continuing trend for both how AI is being delivered, as well as how enterprise-grade applications are being developed. Specific attention is being paid to enabling friction-free workflows both within and outside of individual applications and platforms, which mirrors the way most business processes function today, originating with a single department, but eventually touching several other stakeholders, departments, and external delivery or fulfillment partners.
The combination of Genpact, which has significant domain expertise around sourcing and procurement, with ServiceNow’s internal workflow and embedded AI knowledge and platform, may be the first of many similar deals to come in the market. I suspect that as application vendors continue to roll out vertical or function-specific versions of their more generalized platforms, they will turn to partners that have the required domain expertise to ensure that the resulting offering is properly tailored and customized based on deep operational, regulatory, and ecosystem knowledge to eliminate workflow friction.
Disclosure: The Futurum Group is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.
Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of The Futurum Group as a whole.
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Author Information
Keith has over 25 years of experience in research, marketing, and consulting-based fields.
He has authored in-depth reports and market forecast studies covering artificial intelligence, biometrics, data analytics, robotics, high performance computing, and quantum computing, with a specific focus on the use of these technologies within large enterprise organizations and SMBs. He has also established strong working relationships with the international technology vendor community and is a frequent speaker at industry conferences and events.
In his career as a financial and technology journalist he has written for national and trade publications, including BusinessWeek, CNBC.com, Investment Dealers’ Digest, The Red Herring, The Communications of the ACM, and Mobile Computing & Communications, among others.
He is a member of the Association of Independent Information Professionals (AIIP).
Keith holds dual Bachelor of Arts degrees in Magazine Journalism and Sociology from Syracuse University.
