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Indian IT firm Genpact's (NYSE: G) opening of operations in Brazil is a first step into the company's South American expansions, according to a company executive.
"Genpact is looking into expanding into another South American country but it is too early to provide any details in this regard," Genpact media relations executive Gail Marold told BNamericas.
The company announced Monday the opening of its Brazil office - the first in South America but the third in Latin America, following office launches in Mexico and Guatemala.
Genpact has begun providing finance and accounting services to pharmaceutical company Astra Zeneca, located in São Paulo, and is also providing IT services to a financial services client, the company said.
As part of this new operation, Genpact is training and recruiting to add new employees so it can continue to grow its BPM portfolio in Brazil.
The company aims to serve additional global corporations in its Brazilian businesses while also establishing business operations for the domestic market.
"Genpact's expansion into Brazil is in line with our growth strategy to bring our global business practices to rapidly growing emerging economies to serve global corporations expanding as well as local growth companies," Genpact president and CEO Tiger Tyagarajan said.
Genpact's legal entity in Brazil is named Genpact Brasil Gestão de Processos Operacionais.