Everest Group has released its 2025 BPS Top 50™, highlighting the world’s largest third-party Business Process Services (BPS) providers. This annual ranking offers insights into the evolving dynamics of the BPS industry, emphasizing the strategies and innovations propelling these organizations forward.
Key Highlights from the 2025 BPS Top 50
- Top 10 BPS Providers by Revenue: The leading firms include ADP, Accenture, TP (formerly Teleperformance), Concentrix, Paychex, Foundever, Genpact, Conduent, TCS, and Cognizant.
- Top 10 BPS Providers by Growth Rate: Notable growth was observed in companies such as Altius Link, Concentrix, TP (formerly Teleperformance), Firstsource, Iron Mountain, SD Worx, Omega Healthcare, EXL, Sagility, and TaskUs
- Overall Industry Growth: The BPS sector experienced an acceleration in growth, with rates between 5.5% to 6.5%, compared to the previous year’s 4.5% to 5.5%. Three factors were responsible for this change: large acquisitions, strong demand in Revenue Cycle Management (RCM), and high demand from small and mid-sized business for HR solutions
- IT-BPS providers vs. Pure-Play BPS providers: Pure-play BPS providers outperformed IT-BPS providers. We believe pure-play BPS providers benefited from base account expansion, large acquisitions among major CXM companies, and high demand from small and mid-sized businesses for HR solutions.
- Broad-Based vs. Specialist Providers: In 2024 specialists almost closed the 2-percentage points gap with broad-based providers in 2023. This was attributed to the significant contribution from acquisitions in the specialists’ growth.
Methodology Behind the Rankings
The BPS Top 50™ ranking is determined through a two-step process:
- Qualification: Identifying the 50 largest service providers based on their BPS revenue.
- Rank Determination: Providers are ranked based on overall BPS revenue and year-on-year growth, which includes:
- Absolute Growth: Measured as the change in BPS revenue in US$ million.
- Percentage Growth: Measured as the percentage change in BPS revenue.
This comprehensive approach ensures a balanced view of both scale and growth momentum within the industry.
Looking Ahead
As the BPS landscape continues to evolve, providers are expected to focus on integrating advanced technologies, enhancing domain expertise, and pursuing strategic mergers and acquisitions to stay competitive. Enterprises seeking BPS partnerships should consider these factors to align with providers that can deliver sustained value and innovation.
For a detailed view of the 2025 BPS Top 50™ and to understand the methodologies and insights behind the rankings, visit the report at: Report
