ADP, Teleperformance, Accenture, Concentrix and Sitel Group take Top 5 spots among world’s largest third-party BPS providers
DALLAS, June 1, 2022 — Everest Group today released the eighth annual edition of “The Everest Group BPS Top 50™,” a ranking of the world’s largest third-party providers of business process services (BPS). The list was launched in 2015 as the first of its kind for the global industry, which is now valued at more than US$225 billion. The ranking is based on 2021 revenues and year-on-year growth.
Topping the 2022 list of leading BPS providers are these 10 service providers:
- Sitel Group
- TELUS International
BPS (also referred to as business process outsourcing or BPO) started as a cost optimization concept focusing on “non-core” and “back-office” business processes. Today BPS permeates the entire business process value chain, addressing a wide variety of business objectives.
Everest Group estimates there are more than 250 service providers with more than US$50 million in revenues offering BPS around the globe. Some are pure-play BPS providers, while others offer business services as part of a broader portfolio (including IT services, consulting, technology products, etc.). Some are focused on a particular domain or geography, while others are broad-based. Some are listed, while others are privately held.
“In this year’s listing, we see several interesting trends,” said Rajesh Ranjan, partner at Everest Group. “First, as we predicted, 2021 was a great year for the BPS industry, with Top 50 providers growing at 12.5 to 13% versus 1 to 2% in 2020. Providers that managed the COVID crisis well and continued to invest in next-gen capabilities anchored around the BPS 4.0 value proposition grew significantly above the market average. This also meant we saw considerable volatility in the rankings, with over 50% of the listed providers’ rankings shifting by five or more positions, compared to 42% last year. Secondly, IT-BPS providers grew faster than pure play BPS providers (14.9% vs. 11.8%), partly due to greater prevalence of integrated IT-BPS deals. We encourage enterprises to look to the Everest Group BPS Top 50 list if they are seeking scaled-up providers, and service providers in the industry can refer to the list to know where they stand in relationship to their peers in the market.”
- The Top 5 leaders in terms of revenue were ADP, Teleperformance, Accenture, Concentrix and Sitel Group.
- The Top 5 fastest growing companies year-on-year were Tech Mahindra, TELUS International, Majorel, Teleperformance and Comdata.
- Top risers (companies whose position in the list advanced the most) include Comdata, Allegis Global Solutions, IBM, Iron Mountain and HGS.
The Everest Group BPS Top 50 is based on both revenues and year-on-year growth. Revenues comprise 75% of the composite score used for ranking. Growth comprises 25% and has two sub-parameters: absolute growth (measured as change in BPS revenue in US$ million and accounting for 12.5% of the composite score) and percentage growth (measured as percentage change in BPS revenue and accounting for the final 12.5% of the composite score).
About Everest Group
Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our research also covers the technologies that power those processes and functions and the related talent trends and strategies. Our clients include leading global companies, service and technology providers, and investors. Clients use our services to guide their journeys to maximize operational and financial performance, transform experiences, and realize high-impact business outcomes. Details and in-depth content are available at www.everestgrp.com.