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Everest Group PEAK Matrix for FAO 2020 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Focus on Genpact September 2020 Copyright © 2020 Everest Global, Inc. This document has been licensed for exclusive use and distribution by Genpact EGR-2020-23-E-3947 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Summary of key messages (page 1 of 2) FAO PEAK Matrix® 2020 and Star Performers Everest Group Finance and Accounting Outsourcing (FAO) Services PEAK Matrix® Assessment 2020 ⚫ Everest Group classified 25 FAO service providers on the Everest Group ® Performance | Experience | Ability | Knowledge (PEAK) Matrix into the three Leaders Major Contenders Aspirants Star Performers categories of Leaders, Major Contenders, and Aspirants: High Accenture – Leaders: Accenture, Capgemini, Genpact, IBM, Infosys, TCS, and Wipro Major Contenders Leaders – Major Contenders: Cognizant, Concentrix, Conduent, DXC Technology, Exela TCS Genpact Technologies, EXL, HCL, NTT DATA, Sutherland Global Services, Tech Capgemini Mahindra, Teleperformance, TMF Group, and WNS IBM Infosys – Aspirants: Datamatics, Hexaware, IQ BackOffice, Quatrro, and Startek Wipro Exela Technologies EXL ⚫ Based on Year-on-Year (YoY) movement of different service providers on the WNS PEAK Matrix®, Everest Group identified five service providers as the “2020 FAO NTT DATA Cognizant Market Star Performers” – Cognizant, EXL, Infosys, TCS, and WNS TMF Group HCL DXC Technology Teleperformance Sutherland Global Services Market impactMarket Tech Mahindra Conduent Hexaware Datamatics IQ BackOffice Concentrix (Measures impact created inmarket) the createdimpact(Measures Startek Quatrro Low Aspirants Low High Vision & capability (Measures ability to deliver services successfully) Note: Assessment for Concentrix, Hexaware, Startek, TMF Group, and Quatrro excludes service provider inputs and is based on Everest Group’s proprietary Transaction Intelligence (TI) database, service provider public disclosures, and Everest Group’s interactions with FAO clients Proprietary & Confidential. © 2020, Everest Global, Inc. | EGR-2020-23-E-3947 2 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Summary of key messages (page 2 of 2) The FAO market is dominated by “Leaders” (Accenture, Capgemini, Genpact, IBM, Infosys, TCS, and Wipro) that account for more than 65% of the market share Accenture, Genpact, and TCS are the only providers to rank among the top service providers in terms of market share across all geographies Accenture is the only player to rank among the top service providers across all major industry verticals; Genpact and IBM also feature in the leading providers across industries in terms of market share Leaders have managed to perform better than their peers across all key assessment parameters; while there is significant gap in terms of capability and market adoption, “Others” (Major Contenders and Aspirants) are catching up with “Leaders” in terms of delivering perceived value Client satisfaction levels are almost similar across most dimensions for both “Leaders” and “Others,” with clients greatly appreciating service providers’ performance during the COVID-19 disruption Proprietary & Confidential. © 2020, Everest Global, Inc. | EGR-2020-23-E-3947 3 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Everest Group PEAK Matrix® Finance and Accounting Outsourcing (FAO) Services PEAK Matrix® Assessment 2020 | Genpact positioned as Leader Everest Group Finance and Accounting Outsourcing (FAO) Services PEAK Matrix® Assessment 2020 High Leaders Leaders Accenture Major Contenders Major Contenders TCS Genpact Aspirants Capgemini Star Performers IBM Infosys Wipro Exela Technologies EXL WNS NTT DATA Cognizant TMF Group HCL DXC Technology Teleperformance Sutherland Global Services Market impact Market Tech Mahindra Conduent Hexaware Datamatics IQ BackOffice Concentrix (Measures impact created in the market) the in created impact (Measures Startek Quatrro Low Aspirants Low High Vision & capability (Measures ability to deliver services successfully) Note: Assessment for Concentrix, Hexaware, Startek, TMF Group, and Quatrro excludes service provider inputs and is based on Everest Group’s proprietary Transaction Intelligence (TI) database, service provider public disclosures, and Everest Group’s interactions with FAO clients Proprietary & Confidential. © 2020, Everest Global, Inc. | EGR-2020-23-E-3947 4 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Summary dashboard | Market impact and vision & capability assessment of providers for FAO 2020 Leaders Measure of capability: High Low Market impact Vision & capability Vision and Scope of Innovation and Service provider1,2 Market adoption Portfolio mix Value delivered3 Overall strategy services offered investments Delivery footprint Overall Accenture Capgemini Genpact IBM Infosys TCS Wipro 1 Service providers scored using Everest Group’s proprietary scoring methodology 2 For a detailed service provider profile, refer to FAO Service Provider Profile Compendium 2020, to be released in Q3 2020 3 Value delivered / client satisfaction score and overall PEAK Matrix® positioning adversely impacted for those service providers that provided inadequate number of client references Proprietary & Confidential. © 2020, Everest Global, Inc. | EGR-2020-23-E-3947 5 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Overall service provider market share The top five providers contributed more than 50% of the market share in terms of ACV FAO service provider market share Percentage of active ACV; 2019 12% 6% 4% 2% Note: Some assessments may exclude service provider inputs, and are therefore based on Everest Group estimates, which leverage our proprietary Transaction Intelligence (TI) database, service providers’ ongoing coverage, public disclosures, and interaction with clients Proprietary & Confidential. © 2020, Everest Global, Inc. | EGR-2020-23-E-3947 6 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Genpact | Finance and Accounting Outsourcing (FAO) profile Everest Group assessment – Leader Measure of capability: High Low Market impact Vision & capability Scope of services Innovation and Market adoption Portfolio mix Value delivered Overall Vision and strategy offered investments Delivery footprint Overall Strengths Areas of improvement ⚫ Genpact follows a lean digital approach by leveraging its strong operations consulting practice, along with deep domain ⚫ The majority of Genpact’s clients are large companies; SMB and mid- expertise and an ecosystem of digital assets, to guide its clients in their digital transformation journey market clients with smaller volume of transactions may not find its current ⚫ It utilizes its CORA platform, integrated with multiple modular and reusable components (analytics, AI, and automation approach best suited to their needs technologies) and framework assets, to serve both modular requirements and end-to-end transformation needs across the ⚫ While it has experience serving clients across all major industry verticals, its F&A value chain ability to bring in its core strength (domain/industry expertise) is ⚫ Genpact is one of the very few service providers to have made significant investment in building FP&A capabilities beyond nascent/untested in certain industries including travel & logistics and energy traditional transactional capabilities & utilities ⚫ Genpact strengthened its partnership ecosystem across F&A processes to drive innovation and digital transformation ⚫ Enterprises expecting flexibility in choice of technology/platform might face – Developed GenOne™ – a finance-as-a-service solution built on Workday (a cloud-based ERP) in combination with some challenges as Genpact’s current partnership ecosystem is limited to a Deloitte and OneSource Virtual few vendors ⚫ One of its core strengths is its deep F&A domain expertise and the ability to contextualize it to specific industries ⚫ Some clients have highlighted minor glitches in day-to-day operations – It has rich industry expertise in serving financial services and healthcare sectors, in addition to manufacturing and retail management as a key area of concern & CPG ⚫ According to referenced clients, Genpact should be proactive in bringing ⚫ It has made significant advances to enhance user experience for clients by offering persona-based reporting, voice- more innovative solutions to unlock greater value from their existing enabled virtual assistant, etc. Its acquisition of Rightpoint, a digital consultancy firm focusing on customer experience, relationship should further accelerate its journey toward enhancing user experience ⚫ Referenced clients appreciate Genpact’s strong domain expertise, responsiveness, senior leadership, and customer- centricity Proprietary & Confidential. © 2020, Everest Global, Inc. | EGR-2020-23-E-3947 7 Everest Group PEAK Matrix® for Finance and Accounting Outsourcing (FAO) Service Providers 2020 Everest Group is a consulting and research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global enterprises, service providers, and investors. Through our research-informed insights and deep experience, we guide clients in their journeys to achieve heightened operational and financial performance, accelerated value
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