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Outlook on the Business Process Outsourcing Global Market to 2030 – Featuring HCL Technologies, Infosys, NCR and Sodexo Among Others

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Dublin, Aug. 19, 2022 (GLOBE NEWSWIRE) — The “Business Process Outsourcing Market Size, Share & Trends Analysis Report by Service Type (Customer Services, Finance & Accounting), by End-Use (IT & Telecommunication, BFSI), by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.

The global business process outsourcing market is anticipated to reach USD 525.2 billion by 2030, registering a CAGR of 9.1% from 2022 to 2030. Factors such as the growing demand for outsourcing services across BFSI, IT & telecommunication, and human resource industries and the rising inclination of organizations to focus on their core competencies are expected to drive the market.

Furthermore, the emergence of next-generation services, such as smart self-service and personalized consumer experience, and increasing consumer demand for multi-channel communication are expected to create opportunities for the BPO market during the forecast period.

Over the last decade, the business process outsourcing industry has experienced tremendous growth, owing to benefits offered by BPO services, such as cost savings and increased flexibility. The global service industry has witnessed a dynamic shift with the advancement of the information and communication technology industry. Outsourcing business processes enables organizations to cut costs by shifting operations to nearshore or offshore locations, leveraging a low-cost and dynamic talent pool to meet business requirements.

Additionally, the rising adoption of cloud-based services, artificial intelligence, and robotic process automation in the BPO sector is expected to promote market growth during the forecast period. Online interactions, cross-channel campaigns, and omnichannel communications are also expected to play a pivotal role in improving customer engagement processes.

The COVID-19 pandemic adversely affected the BPO industry. Varying degrees of lockdowns and travel restrictions significantly led to disruptions in the supply chain, forcing many enterprises to work remotely. BPO companies faced challenges, such as data security and lowered productivity, due to either the lack of supervision or inadequate infrastructure at employees’ homes. Other issues included difficulties encountered while recording calls from remote work locations and the exposure of employee data to clients.

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Business Process Outsourcing Market Report Highlights

  • Based on service type, the customer service segment dominated the market in 2021. The segment is also expected to dominate the market during the forecast period owing to the increasing demand for service centers across the globe that need both online and offline technical support.
  • With the steady growth of the global IT & telecommunication sector, the segment captured a sizeable revenue share in 2021. The segment is expected to expand at a steady pace during the forecast period due to a rise in the number of IT companies and rapid industrialization worldwide.
  • Asia Pacific regional market is anticipated to expand at a positive CAGR during the forecast period. This growth can be attributed to the significant investments in infrastructure development by the governments of developing countries, such as India.
  • Key players operating in the market and third-party service providers are struggling to cope with changing work conditions due to the COVID-19 pandemic. Moreover, the shift of BPO organizations from single-function operations to multi-functional operations, to minimize the risk impact at any single location, is also expected to impact the growth prospects of the market in the near future.

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Business Process Outsourcing Market Variables, Trends & Scope
3.1. Market Size and Growth Prospects, 2018-2030
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint/Challenge Analysis
3.3.3. Market Opportunity Analysis
3.4. Penetration & Growth Prospect Mapping (Key Opportunities Prioritized)
3.5. Business Environment Analysis Tools
3.5.1. Industry Analysis-Porter’s Five Forces Analysis
3.5.2. PEST Analysis

Chapter 4. Business Process Outsourcing Market Service Type Outlook
4.1. Business Process Outsourcing Market Share by Service Type, 2021 & 2030 (USD Billion)
4.2. Finance & Accounting
4.2.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
4.2.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
4.3. Human Resource
4.3.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
4.3.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
4.4. KPO
4.4.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
4.4.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
4.5. Procurement & Supply Chain
4.5.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
4.5.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
4.6. Customer Services
4.6.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
4.6.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
4.7. Others
4.7.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
4.7.2. Market estimates and forecast by region, 2018-2030 (USD Billion)

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Chapter 5. Business Process Outsourcing Market End-use Outlook
5.1. Business Process Outsourcing Market Share by end-use, 2021 & 2030 (USD Billion)
5.2. BFSI
5.2.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
5.2.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
5.3. Healthcare
5.3.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
5.3.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
5.4. Manufacturing
5.4.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
5.4.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
5.5. IT & Telecommunications
5.5.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
5.5.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
5.6. Retail
5.6.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
5.6.2. Market estimates and forecast by region, 2018-2030 (USD Billion)
5.7. Others
5.7.1. Market Size Estimates and Forecasts, 2018-2030 (USD Billion)
5.7.2. Market estimates and forecast by region, 2018-2030 (USD Billion)

Chapter 6. Business Process Outsourcing Market: Regional Outlook

Chapter 7. Competitive Landscape
7.1. Accenture
7.1.1. Company overview
7.1.2. Financial performance
7.1.3. Product benchmarking
7.1.4. Recent developments
7.2. Amdocs
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Recent developments
7.3. Capgemini
7.3.1. Company overview
7.3.2. Financial performance
7.3.3. Product benchmarking
7.3.4. Recent developments
7.4. CBRE Group Inc.
7.4.1. Company overview
7.4.2. Financial performance
7.4.3. Product benchmarking
7.4.4. Recent developments
7.5. HCL Technologies Limited
7.5.1. Company overview
7.5.2. Financial performance
7.5.3. Product benchmarking
7.5.4. Recent developments
7.6. Infosys Limited (Infosys BPM)
7.6.1. Company overview
7.6.2. Financial performance
7.6.3. Product benchmarking
7.6.4. Recent developments
7.7. NCR Corporation
7.7.1. Company overview
7.7.2. Financial performance
7.7.3. Product benchmarking
7.7.4. Recent developments
7.8. Sodexo
7.8.1. Company overview
7.8.2. Financial performance
7.8.3. Product benchmarking
7.8.4. Recent developments
7.9. TTEC Holdings, Inc.
7.9.1. Company overview
7.9.2. Financial performance
7.9.3. Product benchmarking
7.9.4. Recent developments
7.10. Wipro Limited
7.10.1. Company overview
7.10.2. Financial performance
7.10.3. Product benchmarking
7.10.4. Recent developments

For more information about this report visit https://www.researchandmarkets.com/r/7vevmb

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Artificial Intelligence

KMS Lighthouse and lastminute.com Triumph with a Double Win at the Global Sourcing Association (GSA) 2024 Awards

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TEL AVIV, Israel, June 17, 2024 /PRNewswire/ — KMS Lighthouse, a global leader in knowledge management, is proud to announce its remarkable achievement of winning two prestigious awards with lastminute.com at the Global Sourcing Association (GSA) 2024 Awards. The brands were honored in the following categories:

Retail Programme of the Year: lastminute.com and KMS Lighthouse LimitedTechnology Enabled Programme of the Year (Automation/AI): lastminute.com and KMS Lighthouse LimitedKMS Lighthouse was also a finalist in the Service Provider of the Year category.
The awards were presented on June 11, 2024, at a glittering ceremony held at Richmond Hill Hotel, as part of the GSA Festival of Sourcing. Celebrating its 21st year, the GSA Awards recognize organizations that demonstrate exceptional best practices in strategic sourcing.
Sagi Eliyahu, CEO of KMS Lighthouse Limited commented “We are absolutely delighted to have won these two esteemed awards. This recognition underscores the tireless dedication and innovation of our teams in delivering exceptional knowledge management solutions to our clients. I would like to extend my heartfelt gratitude to our partners at lastminute.com. The synergy and true partnership we have formed exemplify the collaborative spirit needed to drive outstanding results.”
“We are thrilled to celebrate these award wins with KMS Lighthouse,” said Walter Di Lello, Knowledge Manager & Procedure Team Leader at lastminute.com. “This achievement is a testament to the hard work and dedication of both our teams. The collaborative partnership approach we have fostered with KMS Lighthouse has been pivotal in delivering innovative and impactful solutions. Thank you to everyone involved for their relentless commitment and excellence.”
This double accolade highlights KMS Lighthouse’s unwavering commitment to excellence, innovation, and effective collaboration. The successful partnership with lastminute.com has not only enhanced the retail sector’s capabilities but also set new standards in automation and AI-driven solutions.
About KMS Lighthouse:
KMS Lighthouse is a global leader in knowledge management solutions, providing innovative platforms that enhance organizational knowledge sharing and decision-making. Through advanced AI and automation technologies, KMS Lighthouse enables businesses to improve customer service, streamline operations, and achieve higher efficiency.
About lastminute.com
lastminute.com is the European Travel-Tech leader in Dynamic Holiday Packages. Our mission is to simplify, personalise, and enhance our customers’ travel experience by leveraging technology. Thanks to the iconic brand lastminute.com and a rich portfolio of vertical brands, we meet the most diverse needs of travellers across the entire holiday experience. As one of the few fully licensed European tour operators, we offer unlimited real-time travel combinations thanks to our proprietary Dynamic Holiday Packaging engine, providing additional customer protection and exclusive deals. lastminute.com N.V. is a publicly traded company listed under the ticker symbol, LMN on the SIX Swiss Exchange.
Media Contact:KMS Lighthouse [email protected] [email protected]://www.linkedin.com/company/kms-lighthouse/https://kmslh.com/

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CluePoints Continues ‘Turning Artificial Intelligence into Human Intelligence’ by Launching Two New Innovations

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Site Profile & Oversight Tool (SPOT) and Intelligent Medical Coding (IMC) unveiled by RBQM innovator at DIA Global Annual Meeting 2024
KING OF PRUSSIA, Pa., June 17, 2024 /PRNewswire/ — CluePoints, provider of leading statistical and AI-driven software solutions, will unveil two of its latest advanced, deep learning technology innovations at the DIA Global Annual Meeting 2024. Both solutions deliver groundbreaking enterprise platform transformations providing Sponsors and CROs with a smarter way to conduct clinical research and detect and manage risks that could impact clinical trial outcomes.

Taking RBQM to a new level, CluePoints’ Site Profile & Oversight Tool (SPOT) delivers adaptive site monitoring, enabling teams to swiftly pinpoint anomalies and translate insights into strategies and actions. Sponsors and CROs can improve their ability to evaluate the performance of clinical trial sites and adjust site visit plans more effectively and efficiently while accurately balancing risk and resource workload.
Further streamlining processes, CluePoints’ Intelligent Medical Coding solution harnesses advanced deep learning technology to enhance the accuracy and efficiency of coding in clinical trials. It seamlessly integrates with existing systems to offer precise, AI-generated coding suggestions, drastically reducing the need for manual dictionary searches and costly coding reviews, freeing up valuable resources and ensuring uniformity across all coded data.
Andy Cooper, CEO of CluePoints, said: “DIA offers the perfect opportunity to share with the industry our latest disruptive and innovative solutions that address key challenges within traditional clinical research methods. Unveiling two new products that leverage next generation AI will transform how CluePoints is viewed in the industry, as we enhance our enterprise-wide solutions to reach new levels of accuracy and efficiency to both improve clinical trial performance and deliver greater insights to further mitigate risk. Our early adopters are already raving about how valuable they are finding both product offerings and we are excited to showcase how they will shape future processes and embody our brand promise to ‘turn artificial intelligence into human intelligence.”
With over 9,500 users engaged with CluePoints’ enterprise platform, to date over 1,600 studies have been de-risked and over 142,000 issues detected.
Visitors to the CluePoints’ DIA Global exhibition booth #1301 will have the opportunity to meet with subject matter experts and see demonstrations of both new platform solutions.
CluePoints also invites DIA attendees to join them at 3pm on Tuesday, June 18th, for a special toast at their booth to celebrate the latest innovations.  
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com.
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of artificial intelligence using advanced statistics and machine learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
 

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ComplyCube Launches Trust Center with the Most Complete Compliance Posture in the Market

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LONDON, June 17, 2024 /PRNewswire/ — ComplyCube, a RegTech100 global leader in identity verification and compliance solutions, proudly announces the launch of its comprehensive Trust Center. This new initiative emphasizes ComplyCube’s unrivaled compliance posture, redefining security and privacy for IDV, KYC, and AML platforms. With over fifty continuously monitored controls, the AI-powered SaaS leads the way in ensuring clients stay ahead of international regulations and standards.

The Trust Center provides real-time updates on security measures, compliance statuses, and operational transparency, empowering clients to meet regulatory requirements confidently and allowing them to view ComplyCube’s compliance posture on demand. This platform is engineered to enhance transparency, build trust, and streamline compliance processes for organizations worldwide.
ComplyCube unveils its unrivaled compliance posture, redefining security and privacy for IDV, KYC, and AML platforms. With over fifty continuously monitored controls, ComplyCube leads the way in ensuring clients stay ahead of international regulations and standards.
Key Features of the Trust Center:
Real-Time Compliance Dashboard: Live updates on compliance metrics and security statuses.Comprehensive Resource Hub: Access to essential documents, certifications, and regulatory guidelines.Incident Reporting and Tracking: Full transparency in reporting and monitoring security incidents.Tarek Nechma, CEO of ComplyCube, remarked, “The launch of the Trust Center marks a pivotal milestone in our mission to build trust at scale and deliver state-of-the-art compliance solutions. This platform will empower our clients to navigate the complexities of regulatory landscapes with confidence.”
Non-compliance costs are 2.71 times higher than the costs of maintaining or meeting compliance requirements. Another study indicates that companies with strong compliance programs can reduce incident costs by up to 30%. On top of this, 84% of businesses encounter compliance challenges that can lead to significant financial and reputational damage. ComplyCube’s Trust Center aims to further mitigate these risks by providing tools that help businesses maintain and improve their compliance posture.
Mohamed Alsalehi, CTO of ComplyCube, stated, “We design our systems to be compliant by design with the stringent laws and regulations. This proactive approach ensures our clients can meet and exceed compliance requirements effortlessly.”
Joshua Dent, Business & Partnerships Manager, added, “The Trust Center showcases ComplyCube’s adherence to a multitude of globally recognized standards and data protection regulations. Clients and partners can find answers to many of their data protection questions, view active controls, and request documents to fulfill due diligence. It’s fantastic to see this go live following our latest certifications, such as UK DIATF, ISO 9001, PAD Level 2, and ISO 27001:2022 upgrade.”
ComplyCube continues to set industry standards with its innovative solutions, and the Trust Center’s launch underscores its mission to support businesses in achieving compliance excellence.
For more information about the Trust Center, visit ComplyCube Trust Center.
About ComplyCubeComplyCube is a leading provider of identity verification and compliance solutions, helping organizations across various sectors secure their operations and meet regulatory requirements. With a focus on innovation and customer satisfaction, ComplyCube delivers reliable and efficient services that empower businesses to thrive in a complex regulatory environment.
About VantaVanta is a leading trust management platform that automates compliance and streamlines security reviews for SaaS businesses. It helps companies manage risk and prove security in real-time, ensuring adherence to global standards and data protection regulations. With Vanta’s Trust Center, businesses can efficiently manage compliance processes and demonstrate their commitment to security and trust.
 
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