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Genpact, a firm managing business processes for companies around the world has announced its acquisition of Axis Risk Consulting Services. Axis is an independent Mumbaibased riskconsulting firm. It provides risk assurance services, including internal audit, business performance improvement, SarbanesOxley documentation and compliance testing, and enterprise risk management. Terms of the agreement have not been disclosed.
Axis Risk Consulting serves more than 80 clients in India, North America, Europe and Asia. It will operate as an independent unit of Genpact within its governance practice. This acquisition should strengthen Genpacts financial, planning andanalysis offerings.
The integrated risk and technology solutions well be offering our U.S. and European clients as a result of this acquisition will remove a lot of the time, pain and costs associated with governance and risk management, said Genpact president and CEO Pramod Bhasin.
Currently, internal audit tasks require manual inputs, creating high compliance costs, in particular for companies with worldwide operations. With the Axis acquisition, Genpact can provide clients a single solution allowing them to outsource complex internal audit steps while maintaining overall control of their risk management framework.
Genpact senior vice president Anil Nayar also stated that Genpact would also be providing support to Axis Indiabased clients. On Axis part, this acquisition provides them with an opportunity to offer their risk consulting and internal outsourcing solutions in the global market.
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