In this quarterly report for CQ2 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 12 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
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- Revenue and margin decline amid weak macroeconomic conditions, cost pressure, and demand challenges
- AI, digital, and interpretation services expand as providers strengthen capabilities through acquisitions
- AI-led investments, workforce reskilling, and talent optimization drive industry transformation