Stuart Rogers, Chairman and Chief Executive Officer, Arria NLG (LON:NLG), commented: “Through this relationship with Genpact, Arria NLG’s platform reaches a far wider, global audience than can be achieved through our own direct sales process. Our investment in expanding our development and technical teams to support the projects coming from Genpact is a core part of our 2016 strategy, and we also look forward to partnering together in Genpact’s Silicon Valley innovation lab.”
Sanjay Srivastava, Senior Vice President and Chief Digital Officer, Genpact, said: “The intelligent automation that Genpact and Arria NLG deliver also eliminates human bias and potential for errors. As a result of dramatically improved speed and efficiency, clients are more effective in responding to new market opportunities, complying with evolving regulatory requirements and competing effectively with new disruptors in their industries.”
Arria NLG plc (AIM: NLG), a leader in the development and deployment of Natural Language Generation (“NLG”) technologies, has told DirectorsTalk a new framework agreement for configuration, deployment and licensing of multiple NLG applications with Genpact (NYSE: G). Genpact is the architect of the Lean Digital(SM) enterprise and a global business process outsourcing and information technology services company with a market capitalisation in excess of $5bn.
Under the framework agreement, Arria NLG will supply its natural language generation and other artificial intelligence technologies to Genpact to provide real-time advanced data analysis and commentary while automating credit reporting and financial planning and analysis for Genpact’s customers. These added technologies will allow customers in the banking and financial services industry, among others, to significantly enhance their operations by improving existing automation systems for numerous complex business reporting processes.
Through this framework agreement, Genpact and Arria NLG make financial reporting operations more intelligent, able to execute faster and more accurately, and to learn and adapt over time. Genpact’s Lean Digital(SM) approach enables large companies to re-architect their middle and back office operations to achieve measurable impact such as growth, cost efficiency, and business agility using advanced technologies from partners like Arria NLG. The new solutions are part of Genpact’s Systems of Engagement(TM) portfolio, which embeds leading digital technologies within cloud-based offerings added on top of clients’ existing systems to streamline and transform operations in an agile and flexible manner.
Historically, financial planning and analysis have been difficult to automate due to the complexity of data and source systems, as well as the inability to capture the applied expert judgement of an analyst through a computer. The majority of credit reporting and related processes depend on simple spreadsheets and basic technology, independent data sources, slow and manual processes, and rules-based analysis, supplemented by human interaction, all of which hinder enterprises’ ability to make fast, accurate and insightful decisions and forecasts.
Genpact and Arria NLG will combine process improvement with artificial intelligence and automation tools to transform the speed of reporting while increasing the consistency and quality of data. For example, in credit reporting, the solutions automatically gather and collate data from multiple internal and external sources; synthesize relevant information hundreds of times faster than traditional manual processes; and immediately provide accurate and consistent commentary, analysis and forecasting.
Arria NLG joins Genpact’s Lean Digital incubation program, a unique Silicon Valley-based partner ecosystem that combines the power of new disruptive technologies with Genpact’s deep industry domain and hands-on process expertise, while leveraging the global reach of one of the largest real-world business processing environments.
