Genpact Limited (G): Business Model Canvas [Dec-2025 Updated]

You're looking to understand the engine driving Genpact Limited right now, and honestly, it's all about their aggressive pivot to AI-first, data-led transformation, which is clearly reflected in their latest numbers. Forget the old BPO model; this company is now focused on high-value Advanced Technology Solutions (ATS) that generate 2x revenue per head count, aiming for a full-year net revenue between $4.958 billion and $5.053 billion. If you want to see exactly how their strategic alliances, like the 70% partner revenue growth in Q2 2025, translate into their nine core building blocks, dive into the canvas breakdown below.

Genpact Limited (G) - Canvas Business Model: Key Partnerships

You're looking at the engine driving Genpact Limited (G)'s pivot to an AI-first, data-led innovation company, and partnerships are central to that. The financial results from mid-2025 clearly show this strategy is gaining traction.

The growth in the partner channel is significant. For the second quarter of 2025, partner-related revenues grew more than 70% year-over-year. This channel now represents 10% of Genpact Limited (G)'s total revenue. This is a deliberate shift, as management noted that technology service and solution companies with mature partner operations often generate between 20% to 50% of revenues from partner channels, indicating room for continued expansion. Genpact Limited (G) is aiming to increase partner-influenced revenue to 20% of total revenue over the medium term.

The Advanced Technology Solutions (ATS) segment, which heavily relies on these alliances, saw its net revenues increase by 17.3% year-over-year in Q2 2025, reaching $293 million, or 23% of total net revenues. This segment is where 70% of its revenue is already coming from non-FTE (full-time equivalent) models, showing the partnership-driven, tech-led shift in service delivery.

Here's a quick look at the core technology alliances that are fueling this growth:

The collaboration with Salesforce is delivering concrete, large-scale digital transformation results. For instance, the work with Advantage Solutions involved a multi-platform, Salesforce-powered solution that included an industry-first Salesforce-based Order Management System (OMS). This platform supports over 8 million back-office transactions and helps Advantage Solutions serve approximately 4,000 CPG clients. Genpact Limited (G) achieved a Salesforce 2025 Partner Innovation Award in the Consumer Goods category for this work.

The depth of engagement with certain partners is formalized through status levels and specific solution development:

• Achieved top tier partnership status with AWS, Salesforce, and ServiceNow.
• ServiceNow partnership includes being a designated ServiceNow reseller and a recognized Leader in the ISG ServiceNow Ecosystem Partners 2025 report for Innovation.
• The Celonis partnership includes joint development, such as the Genpact Transportation Costs & Performance app, which helped one client analyze approximately 700,000 annual shipments and achieve expected savings up to USD $6 million.
• Genpact Limited (G) has an ongoing training program for its employees on Salesforce's Einstein AI and Data Cloud platforms.

While specific revenue attribution for consulting firm collaborations is not broken out separately, the overall focus on advanced analytics and strategy is embedded within the 17% growth of the Advanced Technology Solutions segment, which includes data and AI performance.

Finance: draft Q3 2025 partner revenue contribution analysis by end of month.

Genpact Limited (G) - Canvas Business Model: Key Activities

You're looking at the operational engine of Genpact Limited (G) as of late 2025, focusing on the activities driving their shift toward an AI-first model. It's all about accelerating the high-growth technology segments while optimizing the core services base.

Delivering Advanced Technology Solutions (ATS) and AI-led transformation

The growth story here is clear: Advanced Technology Solutions (ATS) is outpacing the rest of the business significantly. This activity is central to GenpactNext momentum.

The numbers from the third quarter ended September 30, 2025, show this acceleration:

This segment drove half of the total growth in Q3 2025. Also, partner-related revenue, which supports these solutions, grew 56% YoY.

Core Business Services (Digital Operations) execution and optimization

While ATS accelerates, the Core Business Services provide the scale and foundation. Digital Operations is the primary component here, focusing on execution and optimization through technology infusion.

Here is how the Core Business Services stacked up in Q3 2025:

• Core Business Services Net Revenues: $980 million.
• Core Business Services YoY Growth: 3.0%.
• Digital Operations Net Revenues: $669 million.
• Digital Operations YoY Growth: 4.3%.
• Non-FTE (Full-Time Equivalent) revenue reached 47% of total revenue, indicating a shift toward outcome-based or subscription-like models.

For the fourth quarter of 2025 outlook, Digital Operations net revenues growth is guided to be approximately 2.2% year-over-year at the midpoint.

Proprietary process intelligence and data curation for AI

This activity involves building the foundational intelligence layer, heavily supported by strategic acquisitions like Xponentl Data, which closed on June 5, 2025. This move was specifically to add data/AI engineering and go-to-market capability.

The financial commitment related to the Xponentl Data acquisition, as noted in Q2 2025 filings, included:

• Purchase consideration: $159,811 (in thousands).
• Earn-out recorded: $77,500 (in thousands).

The integration is designed to fuel the Genpact AI Gigafactory. In a related context, the Data-Tech-AI segment was projected to grow at 20% YoY following this strategic move.

Global talent development via the Genome.ai learning platform

Genpact Limited is actively working to upskill its massive workforce to support the AI pivot. The Genome.ai platform is the vehicle for this. You can see the scale of their internal investment in people:

The talent development metrics show significant ongoing activity:

Furthermore, their internal AI agent, HR Pedia, facilitated over a quarter of a million employee interactions in its first 10 months, engaging 30% of the workforce, with a goal to reach 50% usage by December 2025.

Strategic M&A focused on enhancing data and AI capabilities (e.g., Xponentl Data)

The acquisition of Xponentl Data is a key activity supporting the technology focus. The deal closed on June 5, 2025. This move was part of a strategy to enhance data and AI capabilities, bringing in deep expertise with enterprise data and AI strategy, architecture, and engineering talent. Genpact Limited maintained a strong balance sheet position to support this, evidenced by a reported current ratio of 2.45.

Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Key Resources

You're looking at the core assets Genpact Limited is using to drive its business in late 2025. It's not just about headcount; it's about the specialized nature of that talent and the proprietary tech they sit on.

The global talent pool is substantial, hitting 140,000 employees in Fiscal Year 2025. That's an increase of 10,900 people from the prior year, showing a clear investment in scaling the workforce to meet demand. This large base is the engine for service delivery across the globe.

When we look at the scale and the financial underpinning of these resources, the numbers tell a story of a company shifting toward higher-value work. Here's a quick snapshot of the operational scale as of the latest data:

The proprietary AI-learning platform, Genome.ai, is central to keeping that massive talent pool sharp. It gives learners instant access to Genpact's collective intelligence. For instance, over the past two months alone, 20% of colleagues were trained in generative AI, with a goal to reach 40,000 by year-end. This platform is definitely part of the DNA now, with over 50,000 learners using Genome monthly.

The deep domain expertise, particularly in areas like finance, supply chain, and risk, is what allows Genpact to move beyond simple labor arbitrage. This expertise is embedded into their Advanced Technology Solutions (ATS) segment, which is now responsible for approximately 24% of consolidated revenue and grew 17% year-on-year last quarter. This shift is key because ATS revenue, being more dependent on applied intellectual property and data models, generates structurally higher margins.

The intellectual property manifests in specific, productized assets. You see this in the frameworks and accelerators that speed up client transformation. These include:

• The recently unveiled GenpactNext Framework, guiding the pivot to an AI-first, data-led innovation company.
• The Genpact AI Gigafactory, an AI accelerator designed to rapidly scale solutions from pilot to production.
• Proprietary IPS (Intellectual Property Systems) from predictive analytics to escalation orchestration, all powered by decades of process expertise.

Finally, the global delivery network and operations centers provide the necessary footprint. This network spans India, Asia, North America, Latin America, and Europe, allowing them to handle varying regulatory and operational complexities for multinational clients. The scale of this network is reflected in the Q2 2025 net revenue of $1.254 billion, which saw a 6.6% year-over-year surge, driven by demand for AI and data solutions.

Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Value Propositions

You're looking at how Genpact Limited delivers tangible results for its clients right now, late in 2025. It's all about moving beyond simple process outsourcing to true, measurable transformation powered by their agentic approach.

Accelerating client business growth through AI-first, data-led innovation is a core promise. We see this reflected in the segment performance. For instance, Genpact Limited's Data-Tech-AI net revenues growth for the first quarter of 2025 was approximately 9.8% year-over-year. The full-year 2025 guidance for Data-Tech-AI net revenues growth is projected at approximately 6.2% year-over-year. This focus on advanced technology underpins their overall revenue trajectory, with TTM revenue as of December 2025 reported at $5.00 Billion USD.

The Service-as-Agentic-Solutions model blending AI systems with human ingenuity is Genpact Limited's delivery pivot. This moves services from traditional, linear models to autonomous, agent-led delivery. They have already developed 21 executable agents, with a plan to scale this number to 50 by the end of the year. A concrete example of this is the Genpact AP Suite, which features self-learning AI agents and has shown up to 90% early discount capture capability for clients.

Genpact Limited delivers measurable operational cost reduction through these advanced solutions. Instead of just measuring automation percentage, they focus on outcomes. For example, in supply chain services, they have delivered cost-per-order reductions ranging from 25%-35% by improving truck utilization. Furthermore, in specific process areas like invoice processing, Genpact has demonstrated cost reductions of up to 70%. Recent AI products have driven productivity gains of up to 40%, with a target of 60-70% over the next 12-24 months.

The value proposition spans end-to-end transformation from consulting to managed services. This is evident in the growth of their high-value offerings. Genpact Limited's Advanced Technology Solutions (ATS), which embodies this shift, grew 17% year-on-year last quarter.

For high-value ATS solutions, the revenue model itself is a key differentiator. The strategic focus on ATS is clear, with 70% of ATS revenue currently coming from non-FTE (full-time equivalent) models. This shift away from traditional FTE-based staffing supports the narrative of delivering higher-value, outcome-based services, which is a key part of their strategy to move beyond transactional BPO.

Here's a quick look at the financial context supporting these value propositions as of late 2025:

The company is actively expanding its agentic solutions roadmap, launching new agents across procurement, supply chain, insurance, and banking. This focus on specialized, high-value AI agents is what drives the measurable client impact, such as the $99 million savings reported from one integrated planning hub implementation.

You can see the commitment to this model in the expected profitability metrics for 2025, with the projected Net margin at 10.84%. Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Customer Relationships

Dedicated client teams support long-term, sticky managed services contracts. Digital Operations revenue was $\mathbf{\$633}$ million in the first quarter of 2025, representing $\mathbf{52\%}$ of total net revenue. For the second quarter of 2025, Digital Operations revenue was $\mathbf{\$655}$ million, also $\mathbf{52\%}$ of total net revenues. Large deals, defined as $\mathbf{\$50}$ million or greater in total contract value, were a focus, with $\mathbf{18}$ new logos added in Q1 2025.

Co-innovation and joint solution development are evidenced by the AI Gigafactory, which has onboarded more than $\mathbf{30}$ existing clients since its January 2025 launch to scale AI across their operations. Separately, an initiative using proprietary agentic AI has onboarded over $\mathbf{30}$ clients.

The high-touch, consultative sales model drives complex transformation deals, reflected in the growth of Advanced Technology Solutions (ATS). In the third quarter of 2025, ATS net revenues grew $\mathbf{20.0\%}$ year-over-year, reaching $\mathbf{\$311}$ million. Overall, Data-Tech-AI revenues, which encompass these advanced solutions, represented $\mathbf{48\%}$ of total net revenues in Q1 and Q2 2025.

The Client Zero program serves as Genpact's own AI credential. Before the program launched in 2023, G&A costs were $\mathbf{15.4\%}$ of revenue. The target for 2025 is a G&A percentage of $\mathbf{12.9\%}$, with progress reported at $\mathbf{13.7\%}$ as of June 2025. The Accounts Payable (AP) solution, developed internally via Client Zero, now handles more than $\mathbf{70\%}$ of Genpact's invoices and payments, achieving a double-digit reduction in headcount for that function. Client Zero is also a sales tool; clients show significant interest in accessing the 'Scout' family of AI agents developed internally.

The focus on trusted relationships underpins the business, with Genpact citing decades of client trust. This trust supports the high-value Data-Tech-AI segment, which grew $\mathbf{11.1\%}$ year-over-year in Q1 2025 and reached $\mathbf{\$582}$ million in revenue.

Here are some key metrics related to client engagement and deal structure as of late 2025:

The company is actively managing client expectations around automation, sharing AI-driven productivity gains while securing incremental revenue from expanded scope or increased volumes.

• Data-Tech-AI represented $\mathbf{48\%}$ of Q2 2025 net revenues.
• Adjusted diluted EPS grew $\mathbf{16\%}$ year-over-year in Q1 2025.
• The company repurchased approximately $\mathbf{2.0}$ million common shares in Q3 2025 for $\mathbf{\$90}$ million.

You should review the Q3 2025 guidance, which projects full-year 2025 net revenue growth between $\mathbf{6.1\%}$ and $\mathbf{6.4\%}$ as reported. Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Channels

You're looking at how Genpact Limited (G) gets its services into client hands as of late 2025. It's a mix of high-touch sales and scalable digital delivery, which is key to their GenpactNext pivot.

The direct sales force and client-facing relationship managers are still the engine for landing large, complex transformation deals. While the search results don't give a headcount for the sales team, we know these teams are closing significant business; for instance, Genpact Limited closed 4 large deals in the second quarter of 2025 alone, which helped push revenue above guidance. These teams are the front line for selling the higher-margin Advanced Technology Solutions (ATS).

Digital platforms and proprietary tools are embedded directly into the service delivery, primarily through the Data-Tech-AI segment. This segment is the clear growth driver, pulling in $622 million in net revenues in the third quarter of 2025, representing 48% of total net revenues for that period. This shows the market is using their digital-first capabilities to consume services, moving away from purely FTE-based models.

The channel strategy is heavily weighted toward technology alliances. Strategic partner channels, which include relationships with hyperscalers and software providers, are a validated component of their go-to-market. In the second quarter of 2025, partner-related revenues grew more than 70% year-over-year, reaching 10% of total revenue, which matches the 10% benchmark you noted. This is a critical, high-growth artery for Genpact Limited.

Here's a look at the revenue composition that these channels feed into, based on the third quarter of 2025 results:

Global delivery centers are the operational backbone supporting these channels across geographies. While the exact number of centers isn't published here, the geographical performance in the third quarter of 2025 shows where this capacity is deployed and utilized. The North American market remained strong, contributing significantly to overall revenue. Conversely, the European market faced challenges due to economic uncertainties, but the Asia-Pacific region showed promising growth, especially in India and China, driven by digital transformation services.

Industry-specific solution accelerators and marketplaces are the tangible output of the ATS segment, which is the focus of their GenpactNext strategy. These accelerators are what allow the Data-Tech-AI services to grow at a much faster clip than the rest of the business. The ATS segment surged 20.0% year-over-year in Q3 2025, validating the market's adoption of these specialized, pre-packaged solutions.

The overall channel effectiveness is driving the full-year financial expectations. Genpact Limited updated its full-year 2025 net revenue outlook to a range of $5.059 billion to $5.071 billion, which represents up to 6.4% year-over-year growth. This growth is being channeled through higher-value streams.

• Data-Tech-AI revenue, which embodies the platform and accelerator channel output, was $622 million in Q3 2025.
• Digital Operations revenue, which relies on the direct sales and global delivery center channel for scale, was $669 million in Q3 2025.
• The company is actively investing in these channels, with planned investments of over $150 million estimated for 2025 to fuel advanced technologies.

Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Customer Segments

You're looking at who Genpact Limited is selling its agentic and advanced technology solutions to as of late 2025. The core of their client base is definitely the largest global players.

Large, global enterprises (Fortune 500) seeking digital transformation.

Genpact Limited derives its revenues primarily from clients in the Fortune Global 500 and Fortune 1000 companies. This focus on the largest enterprises means deals are often complex and transformation-oriented. In Q3 2025, the company signed five new large deals, defined as having a Total Contract Value (TCV) of $50 million or greater. Furthermore, revenue from what they call priority accounts grew approximately 6% over the prior year in Q1 2025, making up 62% of the total revenue base then. The push towards AI is evident, with the AI Gigafactory supporting approximately 100 clients in Q3 2025, more than doubling from the previous quarter.

The overall business mix shows a clear pivot, with Advanced Technology Solutions (ATS) reaching 24% of total net revenues in Q3 2025, up from a lower percentage previously. This segment, which includes proprietary intellectual property, grew a massive 20.0% year-over-year in Q3 2025.

Here's a look at the segment revenue growth rates reported from Q1 2025, which gives you a sense of where the demand was strongest early in the year:

Financial Services: Banking, Capital Markets, and Insurance.

This sector showed solid demand, with revenue growth reported at 7% year-over-year in Q1 2025. The focus here is clearly on leveraging new technology, as evidenced by the launch of the Genpact Insurance Policy Suite in Q3 2025. The company is helping these clients with margin expansion and process re-engineering.

Consumer and Healthcare: CPG, Retail, and Life Sciences.

The Consumer and Healthcare vertical saw a 4% year-over-year revenue increase in Q1 2025. This segment is a key part of the business, though its growth rate trailed the other major verticals early in the year. Genpact is using its AI capabilities to help these clients rethink global supply chains, which is a major cost optimization lever.

High Tech and Manufacturing: Industrial and Software platforms.

This segment was the growth leader in Q1 2025, posting an 11% year-over-year revenue increase. The momentum in Advanced Technology Solutions (ATS), which grew 20.0% in Q3 2025, is heavily influenced by demand from these technology-forward clients looking for agentic operations.

Clients focused on cost optimization and margin expansion.

The entire business model is geared toward delivering measurable value, which translates directly into cost optimization and margin expansion for clients. This is supported by the shift in revenue mix:

• Advanced Technology Solutions (ATS) net revenues were $311 million in Q3 2025.
• Data-Tech-AI net revenues reached $622 million in Q3 2025.
• Non-FTE revenue (often tied to outcome-based/subscription models) reached 47% of revenue in Q3 2025, supporting a higher margin profile.
• Partner-related revenue, which drives solution embedding, grew 56% year-over-year in Q3 2025.

The full-year 2025 net revenue guidance was raised to a range of $5.059 billion to $5.071 billion, showing confidence in this value proposition. Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Genpact Limited's operational expenses, which is smart-understanding where the money goes is half the battle in valuation. Honestly, the largest single cost component for Genpact Limited is definitely employee compensation and benefits, given the talent-intensive nature of advanced technology services and solutions. While I don't have the precise total dollar figure for the entire workforce's compensation for late 2025, we can see the structure through other reported costs.

We have solid figures for the core operational costs from the mid-year reports. For instance, the Cost of Revenue (COGS) for Q2 2025 was $804.35 million. This figure primarily captures the direct costs associated with delivering services, which is heavily weighted by the personnel delivering those services.

Next up is the Selling, General, and Administrative (SG&A) expenses. The directive is to use the figure from Q1 2025, which was reported as 19.8% of Q1 2025 revenue. Since Q1 2025 net revenues were $1.215 billion, this translates to an SG&A expense of approximately $240.57 million for that quarter ($1,215 million 0.198). To be fair, the actual reported SG&A for Q2 2025 was higher, at 21.2% of revenue, showing that as the company invests more for growth, this ratio can shift.

The push into GenpactNext and AI means significant spending on technology and infrastructure investment. This investment is channeled into building out capabilities like the AI Value Studio and the Genpact Gigafactory, which houses thousands of pre-built AI and generative models. These technology investments are often embedded within both COGS and SG&A, but the strategic focus is clear: scaling advanced technology solutions.

Finally, we track the Amortization of acquired intangible assets, which is a non-cash charge reflecting the write-down of assets from past acquisitions. For the first half of 2025, this cost was relatively contained compared to prior periods, reflecting a more mature amortization schedule post-major deals.

Here's a quick look at the concrete numbers we can pull for the first half of 2025:

You should also note where some of these costs are detailed:

• SG&A expenses for Q1 2025 included $241.084 million in actual spend.
• Q1 2025 Net Revenues were $1,214.926 million.
• The company returned $93 million to shareholders in Q1 2025 through buybacks and dividends, which is a cash outflow, not an operating cost, but relevant to capital structure.
• Advanced Technology Solutions (ATS) revenue per headcount is more than 2x the company average, suggesting higher direct labor costs in that segment.

Finance: draft 13-week cash view by Friday.

Genpact Limited (G) - Canvas Business Model: Revenue Streams

You're looking at how Genpact Limited is bringing in the money as we head toward the end of 2025. The revenue mix is clearly tilting toward technology-driven services, which is where the higher-value, less traditional billing models live. Honestly, the numbers show a clear strategic pivot.

The overall expectation for the full year remains strong, with Genpact Limited setting its sights on a specific range. Full-year 2025 net revenue guidance is set at $4.958 billion to $5.053 billion.

The revenue streams are primarily segmented by the nature of the service delivery, moving away from pure headcount-based billing. This is evident in the growing proportion of non-FTE revenue models, which currently stand at 46% of the total business. This non-FTE portion is made up of fixed transaction-based and outcome-based arrangements, and this proportion is definitely increasing.

The core revenue components can be broken down based on the Q2 2025 performance, which gives you a good snapshot of the current engine driving the top line:

The Digital Operations segment is where you find the more traditional, steady income. You can think of this as the source of the recurring revenue from long-term Digital Operations contracts, providing a stable base for the company. In Q2 2025, this segment brought in $655 million.

Conversely, the growth engine is clearly the technology-focused side. The Data-Tech-AI revenue grew 9.7% to reach $599 million in Q2 2025, representing 48% of total net revenues for that quarter. This segment is where the high-value, project-based revenue from Advanced Technology Solutions (ATS) sits. For context, ATS revenue alone grew 17.3% in Q2 2025, hitting $293 million.

To be fair, the structure of these high-value offerings is inherently tied to the non-FTE shift. The company has noted that the Advanced Technology Solutions portion is significantly weighted towards these newer models:

• 70% of Advanced Technology Solutions revenue is already derived from non-FTE models.
• The remaining non-FTE revenue comes from fixed transaction-based models.
• This focus on ATS acceleration is expected to drive the overall non-FTE percentage higher.
• Partner-related revenues are also a growing component, having grown more than 70% year-over-year in the last reported quarter, making up 10% of total revenue.

So, you have a steady stream from Digital Operations and a rapidly growing, higher-margin stream from Data-Tech-AI/ATS, which is being billed increasingly on value and outcomes rather than just time spent.

Finance: draft 13-week cash view by Friday.