Earnings call transcript Q1 2023

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Operator

Good day, ladies and gentlemen. Welcome to the 2023 First Quarter Genpact Limited Earnings Conference Call. My name is Gigi, and I will be your conference moderator for today. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. The replay of the call will be archived and made available on the IR section of Genpact’s website.

to Investor call Relations like Sachs, to now of Head at would turn over the Roger I Genpact. Please proceed.

Roger Sachs

genpact.com. Thank call for afternoon, first XX, section release, you, everybody, and our to you the IR which hope welcome good website, Gigi, had earnings to XXXX. a of We quarter to period the earnings results discuss ended March was review to and chance our our posted

our Chief outlook then Speakers then provide call we for some then Weiner, CEO; quarter Tiger current as and as and for be our will walk Tyagarajan, an come closing our year remarks, your results will and Officer. on and well on President Financial take our our the Tiger as will XXXX. back Mike an through you full financial today’s are for initiatives. of Tiger agenda Today’s will performance questions. update the Mike follows: strategic provide our will and our overview thoughts

We call an about expect hour. to our last

from statements. matters Some uncertainties our cause and uncertainties in set discuss looking call forward of are number release. differ a press forward-looking and forth involve other will of to materially results factors such that and we actual Such in could risks today’s the in those are risks,

management provide today’s operating In the believe enhance financial information additional non-GAAP business. the views we addition, our call, that to way during understanding we will certain refer performance measures to the of of

these section our earnings posted IR release reconciliation of You today’s can to find measures to of in GAAP the website. the

the Tiger. turn me to that, And with over let call

Tiger Tyagarajan

positioned XXXX machine models about we broad AI, leveraging in we LLMs generative and joining talk uniquely the first or partner and learning large XXXX are technologies. Good language about financial to afternoon, earnings everyone call. for for us how our for today our I’ll Roger. to with and quarter quarter clients results believe Thank you our Today, first and of AI thank you, you

Data-Tech-AI Operations quarter the results that create Digital us. to to and clients for leads solid So first, and growth to between and first opportunities for reinforce the services continue our for value new were our powerful interlinkage many

quarter One the in we of quarter and with. signed of quarter the entered first the most pipeline we near-record the record bookings level was second exciting

In services year-over-year; total X% delivered the Data-Tech-AI XXXX, of first quarter we year-over-year. year-over-year; a $XXX on X% revenue currency of million, of $XXX million, revenue up of billion, up Digital constant up Operations X% service and basis $X.XXX revenue

diluted XX% basis of adjusted Additionally, and we adjusted XXX per of year-over-year, expanding delivered earnings $X.XX, share operating XX.X%, points income up margin year-over-year.

backdrop Over the large XXX-plus having of flow want themes. improvements. last enterprises, At with executives they cost they more to I XX of on a They had takeout the same and global to have against opportunity the values reality our hearing a greater record C-suite including consistent generative this total to I’m so set remain resources allocate do net bookings, face about broadly, their to which transformational million. long-term leverage including think critical first we and, ways with to AI their deals, business. It new in more starting programs, quarter AI, X for than to to large less, days, time, and focused of set contract LLM most $XX the all speak is the cash

XX the added full value to compared from about $X average with were year bookings our of of three-quarters our million new level an accounts, quarter logos almost contract this XXXX. priority for While we $X also the million

X because color on some you consistent there are the give me large there. Let themes some deals

strategic modernizing cloud, operations improve can application reduction, it objective be more end-to-end drive and access but improvement customer their importantly, dealer and solutions. finance, also that First, all service will industry, for experience The data a is growth. to the in AWS moving customer to cost leading to and sourcing, that provider automotive platform AI-based their clean are redesigning efficiency, technology procurement orchestrated stack, we in leverage

For will plus and transform customer and cloud-based sustainability one use and decisioning which their we Cora end-to-end AP countries master global choices and order-to-cash buying services importantly, segmentation Even across full more for reduce will then standardize our XXX and as AI better automate goods as and and management customer of using redesign, working will source-to-pay on consumer run companies, to largest costs we allow the AI dramatically capital. supplier platform, contracting, credit. and data well of improve

XX processes with and across separate plus a technology countries, them thus very a their fragmented redesign industrial end-to-end entities. manufacturer into will run listed to enable two For we landscape and equipment large finance global fully

combine We technologies savings will the and now leverage countries. AI with domain partnering AI med A AI, process access then and strategy was leveraged to which delivering our leading partner data allow LLMs, need Their of expertise, changed data its XX-plus clean depth AI, will which running and first through across company their to benefits. consistently global captives and digital motivation be Genpact. own for many with they’d latest commercial tech to for generative years global generative

advantage are drive costs We to over taking drive not commercially their captives down, their but deliver global competitive also to a only growth.

of these including rapid to learning non-FTE-based deliver of machine new improve to and operations rapidly particularly that taking all able strategy experience process pricing and and AI, by models, in to leverage incorporate we a global their solutions Many cost, LLMs. to are commercial processes and embed too, outcomes. insights to European modernizing transaction-based generative shift drive to beverage they, their aligns know-how our have AI decided AI-driven for technologies, finally, goals capital domain that deals And over leverage company, our be

design constant our driven X% by chain, offset solutions and where and and that constant build run continued sales transform on discretionary the quarter, grew our operations currency X%, risk had commercial Digital clients’ our of shorter-cycle Data-Tech-AI was services, a we portion we supply advisory currency Operations grew we transform in momentum basis. as businesses, to services, where in a clients’ basis. deliver slowdown a including first the for digitally emerging work, growing our steady collectively results ongoing partially and This to by on services, X% expected.

great X top more our plus on of initiatives growth goal pace than and made expanding levels meaningful line a XXXX. deliver of all have XX% AOI We at progress long-term our through organic to our historical margin

near-term approximately of in off were our First, and revenue during as from these pressure, seeing from of XX% the investments first X% bookings priority our clients macro quarter are our priority our revenue. majority the accounts grew quarter total some Despite represented paying accounts.

we cloud and IP with our create whom deepen solutions. joint we our co-innovate Second, and technology continue partners to with AI relationships

such we Asia ‘XX, week, For solutions procurement, in where of sell present and offering. The with next more example, to manual accounts management. to help Knowledge clients our place procurement-as-a-service of event, status and risk flagship data have taking And partnership transform with with have payable embedded with we co-sponsorship Europe ServiceNow’s preferred ServiceNow, automate in we this capabilities is by our areas will globally. Kinaxis, and critical our processes chain effectively strength and our domain partner evidenced as depth expanded supply

pools. in in new operating X India, investing talent centers are to particularly great we giving cities, Tier us access Third, in

represent drive towards ready and revenue a models by launch. path fully outcome that have transaction-based now of X XXXX. X on quarter XX% commercial getting third continue centers and Fourth, our one We total operational to XX% for we

of In pricing. had in fact, quarter our XX% bookings X non-FTE

as deal we’ve take are bookings the and expanded showing large strength to large number lastly, large results increasing our team large in And deals in deals. pipeline well of of advantage deal opportunities, as

at XX% We levels, skill As quarter. expected, saw across now our at the during drop, company sets geographies. the to positive attrition trend this and continues first all

service, attrition with was attrition even months X of involuntary less our XX%. lower Adjusting than for and employees at

we to driving solutions is that new the is hired AI team is attractor members quarter, work and down. the of a also in generative client digital, globe. attrition and across and many learn machine During on and technologies opportunity new engagements talent X,XXX the learning clear our It skills

AI advantage of the we why months step about rapid this and are in Now, wave back in our take of believe positioned we AI. one the let talk me to evolution X of and best last generative next industry the of

recent for has which AI further is capabilities. DNA leverage AI generative our and in an wave, will breakthrough next our exciting the While been years,

back AI has last role central we X in As played over emphasize to the years, success clients. a look how it with is our important

as us one in Over a we of enabling our these We us and leaders years, have this industry-specific industry, refined growth long-term developed clients. AI to us believe create the our space for advantage positioned giving has competitive for margins. our in AI the solutions capabilities, and innovative,

that technology Frameworks statements services, made processing language our key a using launch helped loans milestones allowed our XX% financial In and us on the processing natural March into following. bring This deployed XX% then we to reporting this the services reduction. AI-driven a to into technologies journey read acquired of include and AI our move cost RAGE for solutions when in that and big we reduction Some services. us financial our natural generation time delivering for language operations in the loan cycle we XXXX, financial

reduction deployed solutions solutions operations, holding clients of inventory back, large demand we these we equipment manufacturing Three in inventory costs for and improved CPG costs. AI-driven number run predictive for forecasting sector, and to a optimization maintenance AI for XX% effectiveness. a maintenance and We reducing deployed then stock-outs built leading years our the and where

excellence, innovation, solutions and We and also our AI created center industry building on at talent driving with focused scale development that time new partners. of

to allowed customer as and have client data biggest part insurance and up every journey. XXX-plus AI-powered most high-tech my will talked one distributed challenged C-suite solutions generative where for start, our clients industries how are realization steps improved This their as them In to our for our chatbot expanded earlier, the of our sets experience services. and to end-to-end of The fragmented the understanding, language to then and enterprises AI referenced for all upsell to them. suite as what customer prevent from us I drove and and and This for clients about this starting rates retention to processes maximize include with we highly We well NLU. take value. service AI of prioritize, conversations that how natural how cross-sell renewal banking, is solutions that

low-code by have them and time thing prime operations. exact X,XXX and and workflow bots RPA into us years our these technologies, when on saw incorporated client sites. all We same our We in on became deployed embraced now capabilities and X operations to the cloud back. built close the We services happen of running

more than more XX the handles platform, whose million cloud-based platform digital on average, a than have run on also AI operations XXX transactions Genpact’s our Cora clients We month. that

urgency our up, standardize of services and processes them our journeys and built fix We’re data drivers one the value. co-innovation them. the order AI stage is solutions bookings, get They into able for to the create in the leverage AI. processes then these legacy consolidate their seeing deliver and surge them This big clean basics, same to to clients technologies have now to able their in to and be leverage the AI data, technology, all clearly inflows of need to to in to these often being with

proposition differentiated their as five strength. built value transformation on partner pillars is Our of

expertise. domain First,

allowed challenges and Our and all cases. edge AI of exceptions has industries address solutions us deep understanding unique industry-specific to that various create understand

AI Second, industries be we and develop scalable different The scaled across and can easily AI adopted areas. functional solutions. solutions

to and continuous our invest maintaining with rapid clients. are use cases advantage. Third, with innovation R&D cycles that AI that generative continuous an to we key ensure AI in AI are We AI and experimenting constantly innovation. and consistently believe generating We

development. Fourth, talent

of last had scientists, in Our talent-short AI partnerships. market. pool to excellence data experts. team And strategic get reskilling data-abridged program year. our And This the and domain finally, people base expertise our center build of certified a provides engineers X-year-old talented has talent a XX,XXX

We leading technology strategic with capabilities. have AI established to partnerships our enhance providers

them. expertise make process Our partner uniquely a domain us for and of data differentiated many strategic

to to ways built leading for two pillars and uses specific us likelihood model examples factors customer prediction have churning. company. relevant a AI. Let of Software-as-a-Service and the analyze usage customer five predict history of model and customer behavior learning a made these choice data, partner churn machine algorithms for This me the leverage of our product AI-powered finding We to an patterns deployed how other share

reduction customer at-risk customers in leading result, retention significant implemented now a in lifetime strategies for identified XX% our a we and targeted value and a operations, As churn have our to in client. increase

that powerful went that captured AI a drive we another sentiment very in prediction then back specific, to For client, service. years to customer of marketing we XX aid Score customer was used build tailored engine using Promotor Net to being data generative campaigns to

data. For and and reduction improved company in AI-driven historical to various analytics expense accurate external and trends, of internal optimize indicators This increased to better economic the ultimately make manufacturing financial part forecast allocation and accuracy predictive informed resource a such decisions, a to more and company, generate operational leading considering market as as financial FP&A used XX% efficiency forecast global enabled performance. services, we our revenue tariffs, strategic achieve factors

are desks, We are in unregulated particularly in experimentation early in days service of clients. wave the generative The using industries. research AI help use wave still mode are our concentrated this current with of of and work and initial rapid and opportunities, in prototype customer cases

us expands and addressable clients. work allows workflows we wave iterations have do with more our our technologies every even of earlier total As demonstrated AI, and as technology to complex market for RPA, dynamic such

me the over results. for quarter let detailed call to of Mike review our turn that, With first a

Mike Weiner

up Thank good constant year results you, or up or outlook. revenue a a in Data-Tech-AI first of on flat driven commercial ramps X% Operations represents wins. XXXX on due largely revenue from supply our continued which by basis. represents a I’ll and Digital risk existing financial Today, currency or revenue, total Tiger, Total X% services was our deal on review XX% X% year-over-year currency everybody. and our you afternoon, constant growth year-over-year increased revenue, $X.XXX solutions and services. constant chain, our sales data and basis, basis, services for X% billion, analytics revenue, year-over-year full an focused recent currency and including quarter primarily update of XX% was X% areas, which total to cloud-based across and with provide

a services largely of AI. driven and classified financial revenue in leveraging continued and by XXXX. from vertical had declined X% Health strong services data, for Consumer a services, recent largely impact demand in a lengthening increased and year-over-year, large X% business year-over-year, the sale risk deal due From management perspective, cycles, our previously lower Care we held Data-Tech-AI to as XQ divestiture analytics

in high-tech and deal reduction High by a primarily increased partly notable by operational X%, offset priority ramps, of Tech driven new account. scope Manufacturing a

recent number million Clients revenue During grew period we of more over the than XX, number million than with the relationship annual $X a with to including last brings from to year, in to increased revenue same X relationships $XXX clients that client year. the greater of annual X XXX $XX XXX. with from in XX expanded a million revenue from in

as to operating expanded Adjusted to points to up timing remainder leverage. part basis we the due year-over-year marketing as expect sales margin investments performance of the and was largely of income better-than-expected pick year operating that during This well general XXX XX.X%.

designated a XXXX As our for reminder, the divested. of of margin held income impact adjusted that the business first operating during sale was recently quarter the included

same period our our XX.X% was severance to related the portion the work, supporting to short-cycle costs workforce during costs investments travel margins reductions last higher and discretionary due from to higher-than-normal deal Gross year, of new activities. related quarter down in advisory XX%, primarily

severance just margin the for of the line would reported level charge during more gross quarter the the I have Excluding in been fourth we with XXXX. quarter mentioned,

offset up ramp largely SG&A leverage. investments revenue G&A of was first of a higher was $X.XX, down $X.XX as that the in we of of changes of adjusted and well share lower XX% the impact primarily due by from the expect XXX $X.XX, overall of impact remainder from percentage through was operating basis year-over-year, as partially $X.XX net counts $X.XX driven and points of outstanding year-over-year increase $X.XX interest to EPS in up FX last quarter expense to lower remeasurements. year timing This income year-over-year, a by as year. XX.X%, Adjusted the

Our line in year. rate rate XX.X%, effective with last tax was XX.X%

flows to and cash Turning sheet. balance

historical the $XXX of quarter that in same quarter, to significant first day advantage million driven in million $XX reflecting a our X by DSOs payments utilizing to expansion of Year-over-year, year XX to the was of XXXX, during by reverting in DSOs clients the rates. During we cash interest take compared from to operations expanded part period last utilized days.

to We XX-day remainder expect year. remain the the low range DSOs for in our of the

$XXX cash to ratio the X.Xx, rolling of line quarter incentive annual for reflecting compared end XXXX, the quarters range. our quarter $XX the the quarter, and our to payouts totaled million Cash fourth million X net to end and occurred debt-to-EBITDA equivalents was that shareholders. in our with at Xx preferred Xx At last fourth of million $XXX return the of compensation in the

flexibility existing growth execute With the on balances, our strategy. cash debt the ample capacity, and undrawn capital pursue opportunities allocation have we to

the cadence for a back $XX.XX. we per total of program our continued of XXX,XXX of $XX regular share an quarter, cost During price million to more bought on at of and shares repurchases execute average share

paid dividends. We $XX also million a out total in of

Capital activity equated of We as well deal a the of related in remainder throughout model. higher quarter. anticipate expenditures year level our to the as operational investment the new new as a hybrid approximately of X% percentage signings revenues large opening associated centers delivery of with to

year provide let you Finally, on update our an full me with outlook.

revenue have X.X% to continue X% on year-over-year $X.XX and of X.X% billion currency expect representing growth $X.XX to to We constant a X% between basis. to billion, and

than full of our with aligned We XXXX margin we’ve a our historically. done continue adjusted at to year margin expansion to pace income strategy outlined be expect driving operating XX.X%, approximately faster

to I gross provide additional want XXXX. a some our moment on take color to margin for

off-cycle pricing improve in year. margin as basis Data-Tech-AI as increases XX due points services last our of we scaling the obtained of underlying our to expecting approximately are XXXX, to primarily We well impact gross

large lower that inherently an gross of the we will Therefore, contracts. this early be the of are wins deal compared to years margin impact slightly onshore for by margin has that be XXXX the to level. a gross down offset relatively in have benefit to our anticipating recent However, XXXX such delivery

While profitability margin as to increase new lower than digitally leverage these have their large over a expect resources, over solutions, period. automate gross deals time, we the the company inherently average, contract we

agreements, Over required delivery. adjusted be the lower level the line support deal terms with to expect we in to SG&A total margin investment for company to operating income due overall these

XX% level We lower range than earnings effective XXXX our revenue rate tax higher mix. available jurisdictional be in overall the now to discretionary XX% full anticipated expect of our tax at to the end due benefits initially to year prior of

Given outlook per share operating the to we $X.XX to XXXX be and the provided, expect I income between year just continue full adjusted $X.XX. for

Lastly, the in let large throughout cadence more engagements, me We advisory revenue year. will due work to activity to that we to continue anticipated the ramp during revenue new thought second deal the expected the slowdown continue share Therefore, single-digit growth part year. look be to operating near-term. the latter thoughts some year the loaded adjusted margin we and to than remainder quarter-over-quarter the income expect for now of related initially growth of single-digit on for mid offsetting for to we low expanding the the in high quarter, back-end

For wins a continue the an profile to back deal due of half first comparison. for the the will be in to growth anticipate year-over-year to perspective, recent of relative XXXX easier we the half ramp-up

the expand Given support adjusted a expenses marketing related actions and to we margin better sales and to the first operating we includes R&D in the to we XX.X%. the took balance in quarter to both operating of deals. and of we’re quarter, income investing levels new XXXX strong income our throughout This the higher cost absorbing generated adjusted outlook savings first position believe margin in

margin increase the expanding than year, of adjusted acute a sequentially In our income flow typical through in we however, terms to expect expectations. to through the half our progression continue during pattern revenue, with second at of operating less previous

growth informed pipeline, outlook, by our in growth past achieve have than our accelerated XXXX. organic as year strategy robust revenue deal us adjusted large half meaningful the driven our to expanding through well XX% and the gives throughout ability second visibility margin more driving full into Our our confidence ‘XX income XXXX of in by as sustainable multiyear bookings we plus operating with of pace

let said, Tiger. that to the turn With call me back

Tiger Tyagarajan

Mike. you, Thank

technology years at partners As it that for the capabilities we the look our clients. at the we has over need are available we these added a scale. becomes desire help our that clear value. arms see, to way clients has models, the get transition is technologies and seen breakthrough our their of increased momentum our has feeding the and inorganically well their to and that built clean, new us organically Every even these greater We’ve understood, urgency like defined new leverage become to for to around operating add relevant that only started create more well XXXX new capable in to to and clients then them is already outsized targets data value and models

a met and last one in days Rage an XX that both and our every acquisition using AI intention generative have announcement journey to XXXX, opportunity TAM. clients pipeline and intensity internal their learning the summary, of Three, plus AI, started efficiency expansion and generative in AI be XXX of ChatGPT with margin to In the partner for increasing I’ve other solutions. the Since in an gone as AI. machine of of and enhancement AI the and view clients interest and Genpact implementing have spurred of number we services AI We with and in up. services and our expressed

more real is robust. advisory near-term our is clients in the portion of with why, business their already pressures well. cases use our That of number that our working more overall with and operations We’re a services demand some could not operations discretionary, for as in small be despite

we our our Report, our ESG make solutions. targets. is that available at their goals Sustainability progress the highlighting support website, share on clients our on that we time, ESG made same across initiatives the financial recently ongoing of published long-term which using to have many And progress our helping our XXXX pleased I’m we are

turn the Roger. call back me let to that, With

Roger Sachs

Tiger. you, Thank

Gigi, ready to ask you take I your can please instructions? give the questions. now to We’re

Operator

the of from Our comes Instructions] first [Operator question from Tien-Tsin Huang JPMorgan. line

Tien-Tsin Huang

Hey, sounds talking a been to executives, Tiger, thanks. Good to afternoon which is it like great. of you’ve all. lot

Tiger Tyagarajan

you. Thank

Tien-Tsin Huang

wanted to the on yes, – it’s I lot of a – talking.

think – business. for good the I

I that. think on deals, on I the have to five large ask

provided color good there. So

of take to mean, long will of some ramp? How like get some there terms it It ramp involved taking transitions? the I the be to in sounds rebadging of sounds some ramp, these full some this XXXX. In captives. Is there it will risk like could and over in of

– So short-term just the it. It maybe with understand to well comes trying like as obviously better both the impact on as sounds the the great P&L in risk that overall. the

Tiger Tyagarajan

thank No, answers. because a it’s engage I that Yes. And is yes, everyone to is to full XXX the Tien-Tsin. out of just the lot know. talking. you, environment talk as such good clients, But insight as to trying get a well reaction to figure that’s

I that out thought even in because our though, earlier, such your ourselves of but taught couple would to none, material years remains. back, have question really, plus specifically, GE. rebadge done surprise I done say XX are, out, we’ve we the And I strategic really deals actually, A guess, No didn’t. now, say, very called well. we a they history. us, We’ve they on don’t we have five gone deals in we partner of DNA – still them, So that bar XX companies rebadge the of do deals, we that, are need have structure, components. to help terms deals before. where to made of These similar moves,

these with ramps business. this see risks complex, but associated Obviously, We’ve are our know done way are don’t the that. we before. complex use this the these So know We we deals, structure.

is extraordinary these. there in of all nothing So

contributed none the up. of to So we build deals cadence first quarter. these to in regular really expect anything materially Unfortunately,

start to into the actually, more will in ramp sometime half the of second the and quarter, We year. second

ramp some will the of are large these – fact, first the next of complex. and year, tail into up tail mean, half given that them continue will I In

mean, I that. think no, out call more to So than I

quarter excited went that. on We’re obviously way the very one at

Tien-Tsin Huang

it. to of you glad a you I about mentioned of know RPA. generative to think impact just trends this went as questions relative and different to, Tiger, tech years. with I are the waves or because – it we AI to waves, scope opportunity, And see – I’m you I Great. you we AI the Okay. either would all lot so Anything enterprises talked on my – in over getting far? know compare peers terms past would and you generative opportunity or How this

Tiger Tyagarajan

by solution the of that simple, start And I’ll believe that say very forums, bottom answer. of be it’s said public is said RPA already going ultimate the very, I’m RPA believe exciting. saying before never always in I’ve something was going always to I reasonably which to which chain. very I is a easy we’ve at chain. the kind AI at And the at food the of food is top

this AI. is So

we everyone services, building have and all use worked, industry, breakthrough of clients knowledge and the who of teams the will get I been language, know started studied, GPT are those. asking in and clients people available, our our on for very with finally X.X all saying, quarter and the of been we and on have our we and so happened And on our solutions what actually, because fourth day, excited. is us this working Well, is there. in working So one the

of center AI excellence those. on Our worked

So than RPA, lots are different there it is of but similarities.

opportunity the What challenge what do can faces of I where while opportunity I start? is to the is, huge is all, understand prioritize? I get? value enterprise every I and then And it first think do important do determines the that where Which real, that is I value-creation start.

get look up. they thing that and for the you hugely that been of the all it’s The about lined the a best better can one to value our get deals that second And because And very start, best do your the clean the on, have journey. around their like is enterprises data journey us. fast, that arms means have area to in journey every been many many, we first signed that’s it large clients one and we years typical consolidate, five on pipeline together, and Every one are data, whichever Companies up quarter, standardize, at in around all choose that’s it are are our you data. thrilled bring which around who’s deals that? the positioned if you the successful, you that of helping have And continues.

going saw destroy think opportunity exactly really AI a And and believe is we exactly XXXX, expand that we I – clients. is I said us, is opportunity RPA tailwind and what real a BPO. for saying, value XXXX, late create I all think broader That’s RPA. RPA and TAM. expand no, will happened. for So AI we generative this our to reports a real to XXXX, I read remember expert remember TAM We just what in we

Tien-Tsin Huang

Thank for that, Tiger. you share

Tiger Tyagarajan

Thanks, Tien-Tsin.

Operator

Thank next line Instructions] Our Bachman of Keith comes from [Operator BMO. from the question you.

Keith Bachman

Tien-Tsin. on going is and and been to efficient growth, the to model more AI over years it your more perspective incremental Hi, to capture I’m lead thank while. whole revenue generative people, approach productive, AI it the you. though. each a employees right? i.e., hurt follow years x And and based team true still or – on wanted thoughtful P you’ve to essentially will work total in, to here on Q Tiger, years. you’ll FTE and while That’s that’s I your just model for of your always thesis growth, for drill had makes that, but

– and – more it is this different there out – process Do you a the of tease comes all be similar? there of parts AI to think pressures that to is a the forefront couple all I try pricing AI other quality see improves. being that But that to though, as you are? is generative gets further as than variables about want in of risk eroded As may that the

Tiger Tyagarajan

So question. you way, but... Keith, the actually, by great the And you the me feel question, old, made way started

Keith Bachman

just while. too, because that’s Well, to because you listened me old, I’m a for I’ve

Tiger Tyagarajan

No, thank that. you for no,

point, because think if actually, are way the two to saw but RPA, I to So see Sigma. by One, XX good to that go there we’ve with parts moving two RPA. your back, this the the it’s Six question. – question, answer The And there seen is even way. Lean years not we with back, exactly to and – We cloud. and no we parts was just the

labor you we’ve more done, out, said to You services, you amount be industry, industry and our work. that take that the therefore to drive this And needs work you reduce our productivity, get be always of underpenetrated. continue

Now in verticals services and industry the our the new across meanwhile, clients. we’ve added same in

we’ve done, same same is where client. that that those most while with clients I reality effective? RPA, and are bots in those the bots are we’ve effective X,XXX regression fact, if grown have analysis, those the The most are bots think of So we I a have do we which clients, running, story, the where

we are you together models the happen clearly when models, then – called commercial quarter for alternate our pricing. total wave client total the versus that, and being of as that’s going value-based a much that part get indicates very of if trajectory. are a that. TCV commercial is The this created. transaction-based because days, on time, wouldn’t – And XX%, what a is do the expanding We itself, out commercial we The wins how was still capturing client alternate surprised total is started, commercial and that value XX% XX% we’re business is almost on actually XXXX. or two we get models, to a our break those win-win. the in built addressable growth through low gets to interesting, be pricing, you RPA only very, like it’s today, win do it’s which or alternate better get So earlier. and that big because more I win-win you’re in adding that, when for you but XXXX outcome-based that. market that And model When models bookings

is So we to margin of happen. the in accretive, Mike part said why this in that’s reason be that long-term I plan going journey, and expect, which to the

Keith Bachman

Right. Right.

percent think, total time you – changes of This, work, down. nature mean, materials? versus to because revenue might drill to your a of the so I project just as your Tiger, speak, sorry, go AI and just up so And doing

Tiger Tyagarajan

project I describe don’t as would I it Keith, work. think,

embedded the as the of into as we some deliver. both solutions, we’ve all fact, examples all the I that AI almost services in In probably deals solutions are well the almost them that in gave, In case, the we’re sometimes then go put the we we to because from solution, we together already In and clients a cases, which with delivering. them. client, it’s together a services proposal data that need work we

value the Sometimes piece and a more of we the get because that that and embed And operations, then growth. value run we then get we already have into data the deliver operations. our

come RPA. and do the about the However, at with don’t technologies? I deployed with time, that there real bots, opportunities our same where them are says, client that using X,XXX operations and think in X,XXX your Y of Out why also you actually We we X, of in clients. my do the are Z AI did encounter

are The with us. other X,XXX

I So think we change. is see to as going the well. that happening don’t ratio in AI

is big proposal to of a is. includes us just is it, ratio today, in a for I already on power it Because AI RPA be go it what going and think it. continue in as deal, the the big we make solutions it includes to real AI-driven when

Keith Bachman

Got it. Got it.

well, Many I the floor. Tiger. see to I respect Okay, am going colleagues. my thanks,

Tiger Tyagarajan

Thank Keith. you,

Operator

David Baird. Koning Instructions] [Operator the line next from from you. question Thank comes Our of

David Koning

Nice Yes. Thanks quarter. this so much. bookings

Tiger Tyagarajan

Thank Thank you, David. you.

David Koning

of little I the a kind period QX. that of there mid-single lower in but driven can kind like XX% started know at Yes, through like more back to it four-quarter And of this is – know we yes. plus – to rate, digits. And I run that’s going back exit kind just kind the normal year of sounds this by Data-Tech-AI go you’re of

between Just four just the in a bit of like I business. that clients? So – question, it for just so why growth two can normal or to a in quarters bridge the of we kind don’t the is as really, there XX% worry mean, one just business little genesis mid-single getting something digit? you is the disruptive plus because the

Tiger Tyagarajan

No.

to it. year, the can then in even I’ll this year we say talking off, was entered So half think we given comparison guided start And first that set But XXXX. be year, year, We as and year, year to answer first half we because we growth a and saw the particularly things that to be that half, second come be see Mike half and first second – the experience second about we and first for when first have first spend just rolled that expected than advisory when little quarter that, Mike started the the year, of going expectation. higher comparison I’ll difference higher growth for as half prior I in the like the also is has going both half I the said between we that the of work, we fourth entered XXXX had planned the discretionary marketing half the on, the related we through. to of was in and and down to expected or continue. And in to digital so quarter, –

the the – through you but pushed comes quarter. in, of the comes That’s them we his few also first through quarter, the of quarter actually got obviously it the factored the first of last Mike remember, scope into also one out the sign in expected, half. large deals, we reduction quarter. in in them, operations The through fully quarter. it the most signed end called got deals, first to that so out of first remarks clients. days comes did first them some and sign in They the actually, in if towards in – for of high-tech fourth larger the We

now So as through word, ramp year quarter. into other and the pretty any the the ramp lack the for of third go significant we is fourth really, a

answer have I’m going to that. Mike

Mike Weiner

we’ve then said reduction X to, done, which would will we account years. a alluded our that forecast on that rolling at always Again, deal in some of was right? large at that the just have XX-month feel will all we to I’d look What you of it a be year, our into that take that. scope This to Last add comfortable. year, on outlook XX-month thing only say continue and these The client, provided look wins, did is we a XX% estimating will very XX% these little at years better. Yes. is in And plus. we When XX-month, when little earlier. that, and as that blended be it I said average, it we we’re just over when do you shy rate business, to be

on you back better do that. out, to to of be than when think all I wait trajectory going this it’s even

David Koning

nice. Well,

it guess, much that you hear. cash the second – It a when So in of you flow think how like no, And that’s there mentioned business, say revenue you I remarks. just then, divest Can you great I business? big that the an was to question. again looks prepared just Good. – did impact just to the is how item divested

Mike Weiner

I’m and? sorry, hear flow I one time, you. Cash more couldn’t

David Koning

The impact divestiture, that does have? Yes, how revenue I’m sorry. much

Mike Weiner

normal Yes, disclosing substantial what to if kind your and between of up it. trajectory delta the want much of back it not where into forecasting we’re makes How but growth year, we’re this our that, revenue? a is rate amount in you way our

David Koning

you. Thank it. Got

Mike Weiner

at to, anticipate came the We Particularly, and again, of alluded literally sooner. take quarter. the little other deal earlier put all speak, the this, down, large to them these So is, the happened timing the large deal of big the so right? as wins Tiger of That in quarter. a part ramp end

the So through. it end, in washes all

David Koning

guys. Thanks, it. Got Appreciate it.

Mike Weiner

David. Thanks,

Operator

Instructions] [Operator of Nolan from you. Maggie Thank comes next from William the question Blair. Your line

Maggie Nolan

Thanks.

the that cycle. large seeing elongated mentioned obviously but decision you’ve deal had So still some tracks large you deals, in also you’re

for the of So your the for year sizes? are curious expectations deal what remainder I’m

Tiger Tyagarajan

Yes.

So Maggie, great question.

more But some is elevated that, it bit other because a as down it guess, to They I assumptions. the rise has don’t have continue downward everything comes good to supply trend cycles. it’s expect large Right the little for down. been ball wouldn’t continues moment. and and further. don’t elevated. like and as not expect We’ve now, of I a through any made a that cycle little gets further. They time deal things elevated We crystal to any We’ve the elevated go going cadence, any to be so get settles at a That’s not in been that up haven’t news. couple I want say year. hopefully, of seen I quarters. would bit inflation people They stable, assumed down would increasing elevated think into the I are chain

Maggie Nolan

out there Great. that towards the on Is sounds the Thank like you. target And that outcome take opportunity there, put accurate? target? And it is to a base, drive then it internally XXXX. you think, What business be in that also for does margin-accretive. maybe then the I would it

Tiger Tyagarajan

Yes.

The of Maggie. the answer one, is part simple second a

service, that that that shows a on really depends could It the into type various forms. and contract has create enter etcetera, it wins. every of history take time Everyone we we to across component, Our win-win-win the board. tend

talent about, third win. value works win excited In client the being it, get actually, I created, actually fact, talked real really if we etcetera. they because that But the on see a wins, they

value really We’ve seen that planning. the clients a get to that gathering all expertise data, But do to things believe and actually been again that expertise get of the momentum We there. are seen that when as of is think, that those momentum. insights that expertise value. value client technology So creation. to down standardization and outsized to you data in these and in a continue of seen to looking And that journey, of they really have, It’s We’ve the is order-to-cash. we Because between challenge gather. to together taken insurance clients bring the like sourcing of process We’ve claims. We’ve see our creation it’s seen analytical We agree of way and And in that a for one our opportunity. a beginning things digital number you over operationalize it’s models. financial years that that to again. deliver true again that momentum fraud. We’ve We a outsized that, the in insurance happens need and real are procurement. AI the and time to domain commercial path, and always seen types drivers in and you in and have organization, AI. access it partnership and that generative that what of

player service. is big the about real We And customer of things interesting in one customer not Customer service. customer there service in service. most a that we’re think opportunity is a

what tech by about financial could do. solutions building services, disrupt market high and across the service could think other actually them So of We we a and service number taking to customer our clients customer arenas.

Maggie Nolan

you, Thank Tiger.

Tiger Tyagarajan

Thanks, Maggie.

Operator

Citi. from comes Instructions] [Operator Shirvaikar you. next the from line Thank question of Our Ashwin

Ashwin Shirvaikar

Thank Tiger, Hi, you. Mike. to Good with speak you guys.

at a revenue crash with ramp but start that, that then the number the coming bookings. hold. here. number a the historical much really timing big call and conversion, doesn’t to mentioned ask a bookings with will and me the times Because confidence Let of been of normal The there with we’ve Obviously, regards what companies on are it few or so industry has to question is good tiers in I seen proposed timing, pace. is up not kind of want bookings

revenue flip getting of of you? of What then sort things confidence what’s in are in flowing out regards conversion with of just question smoothly terms for more type functional levels to is, sort a terms perspective? And So of general, that side the in of pushed that. from

Tiger Tyagarajan

Yes.

to reference and part the asked, you large the great of to we’ve converting industry. heard first question, commentary hear that bookings also in I of public you, So based part the into – first Ashwin the the the on not that revenue question know deal

We business. that in seen haven’t our

happened, and the fact, a struggle little In different. meaningful would really up a I with that into it And answer. history for because where our have is think come reason to I back about material to business is to go

is a business little Our different.

not, something cadence. technology start million this million, in decision. $XXX not $XX guess, that and sure. services, don’t I million about, deal, is deals you back $XX talk it is am different. going the then up about that fact, we of projects have terms sometimes In on. I on go not we next it’s forth million the of take can kind A services likely can the our a a that very It why $XX the in Technology something deliver sign have talk topic, TCV When it, is embedded to of It next with you comes. comes, number for you then

deals Board AI why that have client Part service, these deal reason AI, some announcing they need fact, In the is Most in And the Directors, supply of you me, often, need you CEO to then leader, of if go requires embedded, to team agree, they you to because ownership a chain etcetera. obviously tech to the But fact, includes people the all procurement these leader. a is go team. fact, it deals with the the my have need of meeting in CFO five is long the take service the of not, more changing. in really global and it the then data sure, for that has CEO.

different. very is this So,

will materially not very So, That’s or the our issue. – materially doesn’t change, ramp. I have have a, in high give we weeks it business. it here, the here. way change confidence to going The a few or take, issue be level deals is, on these months There is

Mike Weiner

pauses of quarters We two are of have, and the That just nice talking should structural wait any don’t project. happen a or on to a about. this pause quarter materiality what maybe have doesn’t really we just we because

Tiger Tyagarajan

allow large that we June stumbles, something we last that accounts journey focus is to not of of particularly these the last journey, obviously, majority happen, wouldn’t wait. the are deals, on it trend, when the that goes – through execution accounts. deals haven’t in we important. done our happen, our years of – good is fact them midway priority saying, one deliver, announced allowed But really and – these which that’s that in delivery the Obviously, the from types says, to don’t not we then, our we things the priority If client and about are hey, have of on X.X year without the our

that right it difference goes think resource big I the leaders’ makes because these. towards attention, all people, a of allocation, the

where point to allow the the customer to delays. don’t drop bar we the So,

on to don’t road, there expect bumps Of but are happen. the course, we that

Ashwin Shirvaikar

the My also out good question buy-in client helps. high that’s there No, have is on discuss to cadence. from is that and side itself margin Right. of at the and second which operating level, very in

through of expectations. the model. And are should time XQ, I to operating to much you year, think relative mentioned margins in you last better the at had course our think relative consensus, least Mike, improve than I

but is is with you that XX%-something, to end, cadence a I it gross now? the slower So, that And to the XX.X% of on at it’s the idea? will they sort mentioned up operating. to upward regards long too question, that same average of margins of low kind a factors goes XX.X%, yes. of sort it and down that know is It like drive out

Mike Weiner

Yes.

from related latter quarter throughout Let the year It The absolutely. will some that interesting mind, me particularly to severance underlying some to that that the the We expand items through. Keep always first are there answer to we lumpy average and perspective. one some – XX.X% in gross thing in continues that about. first, out our margin improve. come had will is talked

the be wins, and get kind for against we know large – most recent when normalize year. of it’s dilutive However, deal you that these flat us going somewhat of to basically for

to So, our And of because normal margin relatively looking allow it, our get we that, wins always gross of are margin constant for are expand but to driven on. the year. against dilutive I if the you again, when them be you leverage that, dilution talked gross kind SG&A the margin good that should have by gross deal think reported we kind will about that’s which it’s for. that throughout all have operating about these margin large will

XXXX. sets it’s really really us and kind best of for us case So, nicely for up scenario

Ashwin Shirvaikar

Okay. Thank you, guys.

Tiger Tyagarajan

Ashwin. Thanks

Operator

Salvas Company. Thank Instructions] the & you. [Operator line Our of comes Sam from next from question Needham

Sam Salvas

Mayank. for questions. Hi guys. It’s taking Thanks for Sam on the

those in? of versus were logo for of new Just focused you were into the about Ops the And just maybe what bucket? of me. AI break of and those data many tech Could how majority the bit those in a digital a verticals quick those wins maybe some wins down and little guys ones more XX talk couple

Tiger Tyagarajan

great question. are say of you? how exact of data way large If AI a through last entered the the the but be would that’s years, client. Sam, X the that’s Great them don’t XX wins, a and majority a have I the look all past history suffice been or to deal to we I because the of five generative tech years had AI. at enter that X numbers, in

already Those them relationships accounts way data that as we So, happened. small at and we what that that’s exactly because were entered to classified time. we had will knew priority tech had find AI. through grow We a them,

these in a frameand shared The So, conversion $X average $X Yes, data into is kind logos, XX a thing earnings sets our only predominantly AI, which entries XX% in million tech And meaningful X-year relationship is TCV. is up. it’s numbers call, meaningful great timeframe. of but remember still million. the last us quarter deal last X-year million year, these into if the why upwards of I that in it relationship XX% $X size a about time the I conversion it’s

doesn’t that very to compared is verticals, thing, unique which those or to The the XXX% XX high-tech logos in a I probably our XX can These name many year. really those We is wouldn’t in as And space, about industry as no have winning at and etcetera. any, smaller last XX. say anything are space, in I us are the XXX%, so nicely. does have one new technology these growing there fits enterprises is So, it logos surprise, year it. that don’t such have continuously distributed fast-growth unique of XX not across many the both probably you many companies

Sam Salvas

that And that something guys all That’s in a kind of Tiger, mentioned there are like you quick you acquisitions then a it. solid now? for made right helpful. couple feel or color. would do have capabilities Got AI-centric Yes. past. nowadays, just pretty the Thanks Is guys you you consider your follow-up.

Tiger Tyagarajan

Sam. No,

for looking acquisition. right always are We the

almost have to us etcetera, they acquisition up We about, looking actually that including very etcetera. with, they potential end are ones out companies – we are like, talk probably at working opportunity our every whom clients there,

a I look think and number that journey look examples I would itself. gave, the I the not at the at – the if is technology challenge you AI you argue if of

going I be democratized and think available, these more to are to everyone almost more to technologies is it. completely, access have going

that, we of existing attract AI, terms bridge acquisitions tech of and continue be capabilities. the science, are of very as The about clients can engineering be, if both we that skills, data is not ability on well take being that’s to is machine orchestration The issue the Technologies – not acquire more clients talent real in data our are going that add so the to data technologies that screens. our of with training that type able kind on engineering that are Those continue the space, programs you accretive loads cloud the type technology. and issue cloud. be to can through that have, help talent and excited the issue. think attack population to And and large on have bolt Genome can the cloud radar going on cleansing, that to acquisitions AI those as really I in those So, data funnel then for that the learning bridge we think I them. orchestrate that very we the those workflow forums. Those and value. to our course, data, will be to take of talent are build to types into data on And acquisitions that talent, solutions of our our

Sam Salvas

it. Got guys. helpful. that’s Thanks very Yes,

Tiger Tyagarajan

Sam. Thanks

Operator

line the Our comes next Thank you. Deutsche from Bank. Keane question Bryan [Operator Instructions] of from

Nate Svensson

guys. deal Bryan. XQ large to but come little down I to Obviously, for in bit that into the the Svensson beginning is great started advisory Nate wanted through hear on and wins, shorter ask Hi the year. a to work This about about this of term well

that XXXX. pick sort back So, I for the potential talked up last about quarter, of believe in call half on the earnings work to of the

square from this heard costs I that headcount I to those So, are of quarter, believe with to kind advisory the that of in which have space. severance wanted related sort the

recovery to revenue want for the and in work So, that and that potential you you little do once macro better? positioned advisory Thanks. to work I just are back acceleration deal shorter-cycle a a help think see to come how starts trying to well sort size any potential starts of the to work

Mike Weiner

Sure.

quickly forth, back. in again, But back. not of our the in We in that and we to the work demand, for will are any type and able of on we comes of good will are come or that of that. In “discretionary to if to we when cautiously come optimistic put back. half does there guidance are the pivot that, year ability second that’s Still meet to very ramp that work” do terms pause that either be hold shape we up assuming

We associated those savings associated and our with are severance support continuously businesses. redeploying the grow other with to that

Nate Svensson

my And financial question, helpful. services. to Got follow-up ask then it. wanted I just about That’s

the revenue, can we So, your financial completing type the that talk so there? you in maybe and quarter, clients the works of conversations services on client of you profile and up the are to see about X% winning of strong hold very within back have in banking And I a started March? services crisis guess, since financial bit in starting tenor change the any regional of

Tiger Tyagarajan

Mike, in. I start and jump off, then, Yes. will

that, smaller is at the down reasonably said type banks. much sub-regional services financial all diversified. Our doesn’t go client it well Having to base

conversation we and year We and of haven’t any the banks global, at banks direct with center one the of etcetera, them strong have is happened seen with in impact including our What in past, ever Canada, regional all at banking deposits. a the had which that volume from One, don’t that recent of relationship is where of of to the the any to we are sharper that actually things. to a Australia, have our U.S., work, the clients, why a higher large material was relationships where money banks, of in prioritization of pivoting be before, some having two are business. Europe, that next smaller had in relationship are much even have challenges places than of over flow-through of some discretionary deal doing haven’t Most the slowdown we very seen banks. with multi-years, our the advisory

quickly actually standardize to obvious further of a some fact going on technologies to flow, guys in where these to focus is they deposit that, do space other and now to for have B driven important then getting that C, are deal then environment is thing do, order in deal the reasons, which larger work that large to capability seeing able also recently clearly can we but that that. A, I getting then got be bank leverage volume So, their you and the again, by, – orchestrating banking in to areas as with have the and bring desire are some on of simplify started in the footprint. the technologies am enterprise the the those said, important you then because to something want they no that is and as larger out because to to quickly banks call And across that focus whole were actually we the more

the the customer continues. that management of that including line receivables collections service do momentum partners with product. they marketing course, they of and end with something for and they customer bunch last doing reason a been And on maybe on things, service, of has their the we maybe that new portion a then the – because to maybe, X big customer, us work in And need path why years, segmentation, them, X work, continues is up maybe say do So, dealing for risk will other fraud. growth is

Nate Svensson

color. the Appreciate

Tiger Tyagarajan

Thank you.

Operator

question next Our Instructions] Cowen. [Operator comes TD of Bryan the from from line Bergin

Bryan Bergin

clients trying what of large AI And operations? Good do in but Thank how like there topic your Like based are all just you does understand more with production, let’s cut clients to hype, trying with Tiger, will other believe reasonably prior follow-up of Gen impacting these models ways say, actually third afternoon. here just actually on on a guys. you. your AI. curious, materially of wanted tech And I the get can mix experience morning Good through with long the Gen or to have models to how a RPA? this their at all take? we soon rate,

Tiger Tyagarajan

Yes.

great service thank as research we question. it’s desk, examples work three called Bryan, actually obvious, customer help are started and and and I because where we to those seeing, necessarily, have we do and all out not deep seeing identified are you So, the areas very, plumbing. early, clients Because those conversations in are into begin. data to those cases, talking very you and where get

particularly element, into get can many unregulated service, cases, much, regulated not industries, in walk in start get but path to industries. to very you customer you journey, the You and moment too in have the have carefully. got some you The

to You have pilots. got create

You whole things got be those. InfoSec, mean, lot to is to a have there have done. test Cyber, I that of

those Therefore, through be question, broadly build in learning-based have next using and AI. example, best already action. But the machine many AI for we are many, the So, I many data. initial in, answer we to technologies other those that would models generative first are the in for of about specifically then solutions. trawl we become deployed areas. thing Remember, three many, your that many actually and data database prediction pilots AI actually is talking And expect places where am we to

The would the do answer of bills. our supplier you about with a second takes work accounts have is to lot And think payables, much of way for clients, work because where payable accounts actually there question if it client. is a we a lot Phase the payments longer I you X, of

orchestrated factories, happens business, people, the is it XXX there you the technologies If the data. happens by hundreds the hundreds of way it it across on and done. happens of the in it are way, in it policies that a of X,XXX about each And of there definitions in across and of happens think client are gets often hundreds which environment, countries,

journey. see we learning it as rationalize well engines enough You so to to to bring building find feed that say, data generative start way that both to it, standardize have models AI that then have can simplify now, We it, I that as to can together to machine a got of engines.

We in have payables. that done

that have in receivables. We done

We have claims. done that in

have insurance. underwriting We that done and in

multi-year is it that in the journeys, that you when the chaos. be loan really the the you I because done to better model of gave. have We flip example processing, because in create of one challenges then could AI work if model, doesn’t, the They tend switch

So, flipping everyone who about very cautious is switch. the is making a decision

it in So, they business two, in then do country product three. cycle in one, one, then one,

we plays So, out. out way that play in it’s a journey. have And it exactly technology-after-technology, the seen

that in language. machine differently. have question no seen that a in There don’t We see this is any is We breakthrough learning. it

coding the is where is where biggest So, used language and opportunity is where think is used. we

quickly to that So, coding. are of I you writing if you is into who people are you lots think opportunity a because and sitting production, more and doing actually not have code, it that real putting sitting actually disrupt are

opportunity. is as desk, a that’s said, is opportunity. real have an opportunity. an I Research Help So,

Bryan Bergin

on detail. Okay. service follow-up Thank And you composition. that line is my for

emerging the of know Can certain rough of areas? I that past, with F&A IA you that further believe versus revenue. to, that the quantification applicable that called areas across mix and provide a getting customer been certain mix any more that of business we I with other offered in quarter services, buckets mix or question disposal, you areas these like or about the services So, Gen have in mod? other language you roughly question fall content vendors across the AI types And is is have would service in content-related

Tiger Tyagarajan

at year quarter, and last percentage XX%, we out is true And in that that because, company rates, well called that keep as the we will faster services, than company emerging Emerging Yes. X% above we growing said grew services that’s said, much up increasing. since first average.

would where we have I can to of is, why co-pilot, say, services, we What and there I say if which business. have And with opportunity space gone And if said there. at, out So, we you and said, a will help client broad and to I biggest you that XX% those countries. I have The less largest data let’s which penetration, distribution are conversations. help finance And Those and that we innovative one thousands of is have locations, no often, our working up that’s create actually our don’t of – up. is in can go to we have than phone, XX% the given cut is expect – customer opportunities actually bottleneck. hundreds XXX as look continue where started. on our don’t generative AI are, service desk and think really the That’s real customer opportunity. surprise, that a look much solutions, you our clients, is is penetrate journeys systems, long which a is of of which at real they hundreds the how of accounting,

get hold data. to a of have You

Bryan Bergin

Thanks guys. Appreciate Okay. the color.

Tiger Tyagarajan

you, Bryan. Thank

Operator

comes Jefferies Thank from you. [Operator line Instructions] LLC. Surinder of from Our question Thind next the

Surinder Thind

Thank you.

would question is started – since question, a where I the here. it of first guidance So it’s to – start Mike, with like at around which

need has can conversations in this So, your together have the the marketplace, at takes be XXX-plus had, to to win the do of guide the point? volatility your much In talk would point, puts you Tiger when already won you there to at revenues so here, is that guide, of you seen hit and need where your actually the most that and get you the long in ramps – the guide been or guide this the generate all work deal were in risk that or work how light you numbers? more to forecast the that about forth, given putting the

Mike Weiner

Yes.

when very it have, But what of we the it’s we the the to win in up. the to good talked we start We from roughly We a quarter rolling first process perspective. beginning we the right, up of have period is of about XX% for the we about business, case, quarter had We year. given good each the new risk do $X.X guidance opportunities weight billion right, that the from basis. at that same and do So, perspective. any on point. we or a our year bottoms build a still of our do time a one from That’s

feel But it’s year, about really particularly a little deal the wins. we carry where it. listen, the really less that – terms And feel in pipeline had and all bookings probably of the going through about we have we are the and of we going large into So the we volume we bit to what with they bookings us good than risk extrapolation XXXX. had good then of

two open So, you may have devices not XXX% maybe. [Technical Difficulty] Surinder,

Surinder Thind

so the coming on not I just is where single sure am echo here, I line from. one am

Mike Weiner

now it’s gone. – now And Thanks. it’s

about Sorry that.

Surinder Thind

globally? then of there of Okay. here. the that their enough. or there, usage I the the a existing to forced And exposure terms on of we downward usage I way like you is been further have resources. there related And within kind pressure risk? that question about employment deterioration FTE numbers some is impacted guess others seems the that the have some haven’t obviously, look at of across been fair guess industry, talk think the risk FTE It When you in guys maybe about your how in it, clients. And just just terms you Can in has reduce been there? U.S.

Tiger Tyagarajan

so by could the what specific don’t you – impacted repeat If think if what? just –

Surinder Thind

other a them if a some guys right? you XX% maybe lot provide at in So, Employment, layoffs for right, from It FTE support they competitors... In example, there? like the you expect Any there you seem for like fewer would ask of and any as there, was resources, terms support, guys. to sensitivity of internally right? color workforce, had the of – have you have reduction usage a doesn’t whereas entity, customer given less

Tiger Tyagarajan

about company question. haven’t had – It’s of an fantastic further if pandemic, don’t. work it’s think We about shrinks, to a And either seen saw you in do books, actually, unless work about those before question transactions, the it, have supplier to transactions, think matter business kind or transactions crisis. no It that which do, financial types – have your didn’t customer impact. case, global of itself our as was as But it the with closing we in we the can which We you the thinking we that great some will am you you hospitality all don’t employees. think both the a about grow, question. No, or I matter the the we close question. whether now have our We the clients we client. happen, think I doesn’t in it shrink. have is. too serve still many understand is big airline I an reduces, reduces. Because And because books. you the understood the – service It have client we base internally that we don’t at – you doesn’t how have employee do we guess services where there option. –

for work in want companies. of We to seen for one is of wouldn’t haven’t of we saying customers, out, given our as the do seen we than decides the the that itself, well, called out reduce that this we I is actually the of to one The that. called our customer actually example we scope Mike when no, work don’t do that, this the see And customers that business. that the work I impact Other technology environment. our to because anymore impact saw haven’t expect in and

Surinder Thind

very helpful. Thank it. you. That’s me. That’s Got for it

Tiger Tyagarajan

you, Surinder. Thank

Operator

the to Sachs conference turn like now for would I you. to Roger Thank back closing over remarks.

Roger Sachs

forward for quarter. to on everybody today, call again Thanks you us joining speaking next and our we look to

Operator

for you. you participating. This Thank conference today’s Thank call. concludes

You may disconnect. now

Genpact Limited (G) 10 May 232023 Q1 Earnings call transcript