Genpact, a global professional services firm, is partnering with Walmart to launch a new digital innovation hub in Bentonville, Arkansas. Genpact says it is “co-innovating” with Walmart to transform Walmart’s finance and accounting back-office operations, helping to fuel growth.
“The digital innovation hub builds on both Walmart’s position as an industry leader, and Genpact’s expertise in advanced digital technologies and domain and process depth in retail and consumer goods,” Genpact said in a press release.
Genpact will help manage part of Walmart’s finance and accounting operations. All of Walmart’s Bentonville-based finance solutions associates affected by this transition will be offered employment with Genpact at the new hub.
Genpact plans to work with the Northwest Arkansas business community and local academic institutions to encourage new training and education approaches that can provide market-ready skills and practical, real-life experiences in digital transformation.
“Retail and consumer goods companies need to continually reinvent themselves to meet ever-changing customer demands,” said Tiger Tyagarajan, Genpact president and CEO. “We are excited to work with Walmart, a renowned innovator in retail, as the anchor client in our new Bentonville hub. We look forward to partnering together to help the area become a digital transformation talent leader for the industry.”
“This partnership will further accelerate our digital transformation and unlock potential savings for reinvestment in innovation and growth,” said Clay Johnson, EVP and enterprise CIO, Walmart. “We’ll leverage Genpact’s expertise in finance and accounting services and process transformation to further improve quality, reduce the total cycle time of our processes, and deliver value that’s in the best interest of our associates and business.”
Genpact says it will develop solutions at its new digital innovation hub that allow companies to reimagine their operations with faster access to data, delivering insights that enable more strategic business decisions.
“Genpact will help retail and consumer goods clients drive growth, improve customer service, and streamline processes by leveraging robotic process automation, machine learning, predictive analytics, artificial intelligence such as natural language understanding, and other digital technologies,” the company said.