In this quarterly report for CQ3 2025, Avasant provides key information on trends in the business process services (BPS) space. It covers facts and figures about service providers (including revenue and resource trends), macro trends, and executive sentiment from the service provider community. In this quarterly report, we cover 10 pure-play BPS providers or providers with BPS as a primary offering and all industry verticals and markets. The report covers trends across a gamut of business process services, including finance and accounting, hire-to-retire, supply chain and procurement, customer experience, and industry-specific services. The geographic coverage for the report is global, with a larger share of data points from North America. 

The report builds on insights gathered through ongoing market research, data collection, and proprietary databases. It includes market data from providers accessed through multiple sources, such as public disclosures and market interactions. 

Key service provider trends

• Revenue increased 3.4% QOQ, primarily driven by strategic partnerships and AI adoption
• Margins held steady at 10.7%, supported by AI-led efficiency, cost discipline, and operating leverage despite continued digital investment
• Hiring upswing continued with 8,500 employees added this quarter
• Revenue per employee remained flat at $31K despite providers claiming efficiency gains, as aggressive hiring and AI talent investments offset productivity improvements

By Aditya Jain, Research Leader & Rishita Rajput, Research Analyst