Genpact Process Developer Interview Questions, Process, and Tips

Q1. What interests you in joining Genpact?
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Q2. Genpact has lots of learning
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Q1. What is invoice
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An invoice is a document that lists the products or services provided by a seller to a buyer, along with the cost and payment terms.
• An invoice typically includes details such as the seller's contact information, the buyer's contact information, a description of the products or services provided, the quantity, the cost per unit, the total cost, and payment terms.

• Invoices are used as a record of the transaction and as a ...read more
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Q2. What is p2p cycle
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P2P cycle stands for Procure to Pay cycle, which is the process of purchasing goods or services from a supplier and paying for them.
• P2P cycle involves requisitioning, purchasing, receiving, invoicing, and payment.

• It starts with a purchase requisition, followed by purchase order creation, goods receipt, invoice verification, and ends with payment to the supplier.

• Efficient P2P cycle management helps in controlling costs,...read more
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Q3. What is 3 way matching
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3 way matching is a process used in accounting to ensure that the purchase order, invoice, and receiving report all match before payment is made.
• Involves comparing the purchase order with the invoice to ensure the correct items and quantities were billed

• Matching the invoice with the receiving report to confirm that the goods were actually received

• Ensures accuracy and prevents payment errors or fraud

• Common practice in a
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Q4. What is 2 way matching
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2 way matching is a process in accounts payable where the invoice is matched with the purchase order and receiving report.
• Involves matching the invoice with the purchase order and receiving report

• Helps ensure that the correct goods were received and billed for

• Used to verify the accuracy of invoices before payment is made
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Q5. Journal entry of account payable
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A journal entry of accounts payable records the amount owed to suppliers or vendors.
• Accounts payable is a liability account that represents the amount a company owes to its suppliers or vendors.

• The journal entry for accounts payable involves crediting accounts payable and debiting the corresponding expense or asset account.

• For example, if a company purchases inventory on credit, the journal entry would credit accounts ...read more
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Q6. What is debit note, Credit note
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Debit note is a document sent by a buyer to a seller, indicating a payment owed. Credit note is a document sent by a seller to a buyer, indicating a refund or credit owed.
• Debit note is issued by the buyer to the seller for payments owed.

• Credit note is issued by the seller to the buyer for refunds or credits owed.

• Debit note helps in tracking outstanding payments, while credit note helps in tracking refunds or adjustment...read more
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Q7. What is Goods receipt note
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A goods receipt note is a document used to confirm the receipt of goods from a supplier.
• It includes details such as the quantity of goods received, date of receipt, supplier information, and any discrepancies found.

• It is an important document for inventory management and accounting purposes.

• It is usually generated by the receiving department or warehouse staff upon receiving the goods.

• Example: A goods receipt note may ...read more
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Q8. What is account payable
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Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
• Accounts payable is a liability on the balance sheet

• It represents the amount of money owed by a company to its suppliers or vendors

• Accounts payable is typically short-term debt that must be paid within a certain period of time

• Examples of accounts payable include invoices from suppliers for invent
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Q9. What is procure to pay
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Procure to pay is the process of obtaining and paying for goods and services from suppliers.
• Procure to pay involves requesting goods or services, receiving them, approving the invoice, and making payment

• It includes steps such as purchase requisition, purchase order, goods receipt, invoice verification, and payment processing

• Efficient procure to pay process helps in managing costs, reducing errors, and improving supplie
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Q10. What are the roles and responsibilities
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Q1. Tell me about ur self
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Q2. Tell me about ur family background
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Q3. Who inspires you most in ur life
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Q4. What is your current CTC
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Q5. What is your expected CTC
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My expected CTC is based on my experience, skills, and the industry standards.
• Consider my years of experience in the industry

• Research the average salary for Process developers in the current market

• Factor in any additional skills or certifications that may increase my value
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Q6. Where do you see you self next five years
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Q7. Why should I hire you
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Q8. What is your strength and weakness
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Q9. Do you able to work under the pressure
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Verbal, reasoning,mail writing, according questions

Q1. What do you understand about reconciliation
Ans. 
Reconciliation is the process of comparing two sets of records to ensure they are in agreement and resolving any discrepancies.
• Reconciliation involves comparing financial records, transactions, or statements to identify any discrepancies.

• It is important in ensuring accuracy and integrity of financial data.

• Reconciliation can be done for bank statements, credit card statements, inventory records, etc.

• The process may invo...read more
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Q2. Why reconciliation is important
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Reconciliation is important to ensure accuracy and consistency in financial records.
• Helps identify errors or discrepancies in financial transactions

• Ensures accuracy and consistency in financial statements

• Prevents fraud or unauthorized transactions

• Facilitates decision-making based on reliable financial data
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Q1. Define accrual basis of accounting
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Accrual basis of accounting recognizes revenue when earned and expenses when incurred, regardless of when cash is exchanged.
• Revenue is recorded when it is earned, not necessarily when cash is received

• Expenses are recorded when they are incurred, not necessarily when cash is paid

• This method provides a more accurate representation of a company's financial position and performance

• Example: A company records revenue when it...read more
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Q2. How will you treat prepaid expense
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Prepaid expenses are treated as assets on the balance sheet until they are used up or expire.
• Prepaid expenses are initially recorded as assets on the balance sheet

• They are gradually expensed over time as they are used up or expire

• Adjustments may be needed at the end of each accounting period to reflect the portion of prepaid expenses that have been used
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Q3. Provide one example of unearned revenue relating to your daily life
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One example of unearned revenue in daily life is a gym membership.
• Paying for a gym membership at the beginning of the month but not using it until later

• Subscribing to a streaming service but not watching any content during the subscription period

• Purchasing a gift card for a store but not using it immediately
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Q1. Why you changing the job? what is your expectations?
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Q2. How you solved you most difficult issues in the previous organisation?
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Q1. What is OTC and role of exchanges in this?
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OTC stands for Over-The-Counter, where trading of financial instruments occurs directly between parties without the supervision of an exchange.
• OTC markets are decentralized and do not have a physical location like traditional exchanges.

• Participants in OTC markets can negotiate prices directly with each other, leading to more flexibility in terms of trade terms.

• Examples of OTC instruments include stocks, bonds, derivati...read more
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Q2. Tell me about corporate actions and types.
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Q1. Give me your Introduction and about your background.
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I am a highly motivated individual with a background in process development and a strong track record of improving efficiency and productivity.
• Bachelor's degree in Industrial Engineering from XYZ University

• 2 years of experience in process development at ABC Company

• Implemented a new workflow system that reduced processing time by 20%

• Proficient in Lean Six Sigma methodologies
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Q2. What type of work you do, and what are your responsibilities in your current company.
Ans. 
I am responsible for analyzing and improving business processes to increase efficiency and productivity.
• Analyze current processes to identify areas for improvement

• Develop and implement new processes and procedures

• Collaborate with different departments to streamline workflows

• Monitor and evaluate process performance to ensure effectiveness

• Train employees on new processes and provide ongoing support
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