In response to the economic pressures of inflation and rising interest rates, enterprises are increasingly turning to digitization and alternative funding strategies. This shift aims to strike a balance between seeking cost optimization and fostering innovation, which is vital for transforming business processes. As part of this strategic pivot, organizations are reassessing their service delivery locations and investing in generative AI (Gen AI) to bolster resilience and enhance efficiency within their service delivery frameworks. Concurrently, service providers are broadening their nearshore presence and pouring resources into AI and analytics-driven solutions. The integration of these diverse elements forms a cohesive narrative, underscoring the industry’s commitment to innovation and efficiency in the face of global economic challenges.
Both demand- and supply-side trends are covered in Digital Masters Process Transformation 2024 Market Insights™ and Digital Masters Process Transformation 2024 RadarView™, respectively. These reports present a comprehensive study of digital masters and closely examine the market leaders, innovators, disruptors, and challengers.
This report is the culmination of a rigorous, year-long research initiative wherein we assessed over 60 global technology service providers across three dimensions:
-
- Current state of the provider’s business process transformation practice and the maturity of its offerings and capabilities
- Provider’s approach to and experiences with implementing transformation projects that leverage multiple business process prerequisites
- Provider’s investment approach, both organic and inorganic, and innovation strategies
Through a detailed assessment, we recognized 13 providers whose breadth and depth of capabilities allow them to fully support their clients’ process transformation efforts.
The RadarView™ recognizes service providers in four categories:
-
- Leaders: Accenture, Genpact, IBM, and TCS
- Innovators: Capgemini, Infosys, and Wipro
- Disruptors: Cognizant, HCLTech, and Tech Mahindra
- Challengers: Conduent, EXL, and WNS
The following figure from the full report illustrates these categories:
“In this era of economic volatility, enterprises are rapidly pivoting toward digitization and innovative funding mechanisms to ensure a harmonious blend of cost-efficiency and innovation,” states Aditya Jain, research leader at Avasant . “This strategic shift is not merely a trend but a critical component for achieving process transformation.”
The full report provides several findings and recommendations, including the following:
-
- Enterprises are forced to reevaluate their service delivery engagement models due to current economic challenges.
- Companies are strategically investing in technology-enabled solutions to implement cost-optimization plans and navigate the challenges of falling revenue.
- Enterprises are using IoT, automation, and AI/ML tools to improve customer experience and optimize service delivery, focusing on process cost reduction.
- Generative AI could be the biggest impact lever on effort reduction/productivity gains in BPS, especially agent productivity.
The RadarView™ also features detailed profiles of the top 13 service providers, including their solutions, offerings, and experience assisting enterprises in their process transformation journeys.
______________________________________________________________________________
This Research Byte briefly overviews the Digital Masters Process Transformation 2024 Market Insights™ and Digital Masters Process Transformation 2024 RadarView™. (Click for pricing.)