Leading global research firm releases its tenth annual edition
of its BPS Top 50™ report.
DALLAS, July 16,
2024 /PRNewswire-PRWeb/ -- Everest Group today
released the 2024 edition of its BPS Top 50™ report, detailing the
50 largest third-party providers of business process services (BPS)
globally.
In today's dynamic and uncertain business
landscape, the Everest Group BPS Top 50 report guides enterprises
in identifying leading BPS providers and helps providers benchmark
against their peers.
The industry has evolved significantly, both in breadth and
depth of services, and is now valued at close to US$300 billion. What started as a
cost-optimization concept, focusing on "non-core" and "back-office"
business processes, today permeates the entire business process
value chain. Everest Group estimates there are now more than 250
service providers with revenues of more than US$50 million around the world.
The BPS Top 50™ evaluation is based on 2023 revenues and
year-on-year growth values for each business. As a secondary
feature, the report also highlights the top 10 BPS service
providers by revenue and growth rate.
Key Takeaways:
- The leading BPS providers for 2024, in order, are ADP,
Accenture, Teleperformance, Concentrix, Paychex, Foundever, TCS,
Genpact, Alight Solutions, and TELUS International
- The top 10 providers by revenue are ADP, Accenture,
Teleperformance, Concentrix, Paychex, Foundever, Genpact, Conduent,
TCS, and Alight Solutions
- The top 10 providers by growth rate are Sopra Steria, SD Worx,
Concentrix, EXL, Sagility, WNS, Capgemini, ADP, TELUS
International, and IBM
- The overall growth rates for the BPS Top 50 providers
decelerated to between 4.5% to 5.5% versus 7.5% to 8.5% the prior
year.
- Overall, the BPS Top 50 providers added US$5.6 billion in incremental revenue in 2023,
versus US$9.4 billion in 2022.
- IT-BPS providers maintained their lead on revenue growth over
pure-play BPS providers. This was driven primarily from large
integrated deals
- On average, broad-based providers outperformed specialists by a
margin of 2 percentage points
- Intense top-line pressure on CXM, due to large-scale offshoring
of workloads and volume cuts in cyclically impacted sectors, was
identified as the main factor impacting growth for specialist
providers
- Additionally, the reduction in hiring and talent acquisition
impacted the growth of HR specialists in 2023
***Download a complimentary copy of the 2024 Everest Group BPS
Top 50™ report***
"In today's dynamic and uncertain business landscape, the
Everest Group BPS Top 50 report guides enterprises in identifying
leading BPS providers and helps providers benchmark against their
peers. To succeed, BPS providers must rapidly deliver business
value using technology (including AI), talent, data, and domain
expertise. We anticipate increased M&As among these providers
to enhance their capabilities," says Rajesh
Ranjan, Managing Partner at Everest Group.
About Everest Group
Everest Group is a leading research firm helping business leaders
make confident decisions. We guide clients through today's market
challenges and strengthen their strategies by applying
contextualized problem-solving to their unique situations. This
drives maximum operational and financial performance and
transformative experiences. Our deep expertise and tenacious
research focused on technology, business processes, and
engineering through the lenses of talent, sustainability, and
sourcing delivers precise and action-oriented guidance. Find
further details and in-depth content
at http://www.everestgrp.com.
Everest Group Engage
Everest Group's inaugural global conference event, "Everest Group
Engage," will be held September 30 –
October 2 at the Renaissance Dallas
Hotel. The theme of the conference is "The Pragmatic Edge:
Designing Your Future." The agenda will help C-suite leaders and
teams in global business services, sourcing and vendor management,
and shared services operate at peak productivity and efficiency.
For more information, visit
https://events.everestgrp.com/engage2024
Media Contact
Lucy Birch, Everest Group,
2144513000, lucy.birch@everestgrp.com, www.everestgrp.com
Public Relations Everest Group, Everest Group, 2144513000,
publicrelations@everestgrp.com, www.everestgrp.com
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SOURCE Everest Group