In this quarterly report for CQ3 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
- Providers face revenue and margin pressure amid volume declines and demand softness
- Industry-wise revenue growth expected to accelerate in healthcare and BFSI
- Providers scale head count and strengthen talent development to drive AI-enabled innovation and retention