Business Process Services – Provider Trends CQ4 2023 and CY 2023

April, 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 14 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, market interactions, and sourcing data. 

Key service provider trends  

    • Pandemic-driven growth of BPS service providers stalled in the past 12 months 
    • Attrition rates stabilized YOY amid slower economic growth, remote work tussle settlement, and technology enablement 
    • Providers are expanding to nearshore locations to meet rising demand from the US and Europe 
    • Major acquisition and leadership investments are getting more prominent to fast-track holistic growth