In this quarterly report for CQ1 2024, 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 13 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

- Providers with M&A experience a revenue uptick, while other service providers face stagnation.
- Service providers witness stability in head count and attrition.
- Vertical markets have exhibited substantial growth, propelled by the creation of solutions tailored to verticals.
- Generative AI deployment may encounter challenges, yet these can be strategically mitigated.