Traditionally, business process management (BPM) or business process outsourcing (BPO) services were implemented as a cost-optimization concept based on labor arbitrage. However, BPM services have evolved and encompass core and noncore operations. Today, they permeate the entire business process value chain and address a wide variety of business objectives. Both front- and back-office processes play a fundamental role in the efficient running of day-to-day business operations, delivery of an optimal customer experience (CX), and sustained long-term business growth and profitability.
The BPM services market is highly competitive and fragmented due to the influx of global and local IT services, BPM services, consulting services, contact center services, and digital solutions companies. Increasingly, organizations are considering partnering with BPM service providers that offer the right blend of onshore, offshore, and nearshore presence and expertise. BPM service providers are now focusing on automating low-margin and repeatable transactions as well as offering value-added services, such as design thinking, process engineering, co-innovation, Lean and Six Sigma methodologies, and consulting and advisory; they combine these capabilities with their domain expertise to deliver customized, industry-specific services. BPM service providers must also deliver solutions that align with organizations’ current business priorities and address future technology requirements.
BPM services market growth continues to accelerate, driven by the growing need for digital transformation technology solutions as organizations improve their business functions and operations by optimizing workflows while driving value creation and business outcomes. The market continues to adapt to business disruptions, such as the COVID-19 pandemic, tight labor markets, supply chain issues, and economic and inflationary pressures. As the market moves toward digital transformation, organizations are benefiting from customized, market-specific solutions that create value and achieve business outcomes.
Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™ considering their strengths and the opportunities that best fit those strengths.
Business Process Management Services 2023
- Business Process Management Services
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
Speak directly with our analytics experts for tailored recommendations.
Purchase includes:
- Report download
- Growth Dialog™ with our experts
Growth Dialog™
A tailored session with you where we identify the:- Strategic Imperatives
- Growth Opportunities
- Best Practices
- Companies to Action
Impacting your company's future growth potential.
| Deliverable Type | Frost Radar |
|---|---|
| Author | Sherrel Roche |
| Industries | Information Technology |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | BPM services market |
| Keyword 2 | B2B Process Optimization Reports |
| Keyword 3 | B2B Process Automation Reports |
| Podcast | No |
| WIP Number | PEC3-01-00-00-00 |
Frost Radar™: Business Process Management Services, 2023
A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines
27-Oct-2023
North America
Frost Radar
