About cloud-based BPO
Over the years, enterprises worldwide have become increasingly dependent on technology and various software products to run their business and drive revenue growth. This trend is expected to intensify, and therefore the role of outsourcing the business processes to third party vendors has become vital and it directly contributes to the organization’s agenda. Cloud computing has powered many SMEs business with remote workforces to be competitive in the market. It has provided enterprises with an opportunity to work together without any geographical constraints. In addition, it has also helped many organization to strengthen their customer base through modern innovative infrastructure that aids them to perform business operations real-time without any bandwidth limitation and latency.The increased need for cost effective business process is playing a significant role in shaping the future of the global cloud-based BPO market. Recently, most of the business enterprises are looking forward to incorporate their various business process to cloud to gain a competitive advantage across all major verticals in emerging market. Moreover, the integration of various business process in cloud is predicted to amplify the growth of the business further, while ensuring the compliance and regulatory standards.
Technavio's analysts forecast the global cloud-based BPO market to grow at a CAGR of 11.39 percent over the period 2014-2019.
Covered in this report
This report covers market segmentation by services: HR, finance and accounting, payments, customer management, e-commerce, and others (such as advertising, supply management and industry operations) and by geography. In addition, it covers the information about the overview of cloud market and its deployment models and sub-segments: IaaS, PaaS and SaaS.
Technavio's report, Global Cloud-based BPO Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the global cloud-based BPO market landscape and its growth prospects in the coming years. It also includes profile of key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Cloud-based BPO Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Cloud-based BPO Market: Accenture, Cognizant, IBM, TCS and SAP
Other Prominent Vendors in the market are: ADP, Atos, CA, Capgemini, CSC, Firstsource, Fujitsu, Genpact, HCL, HP, Infosys, NGA, Oracle, SunGard, Wipro, WNS and Xerox
Commenting on the report, an analyst from Technavio’s team said: “End-users are increasingly adopting cloud computing and cloud-based services. These solutions provide greater flexibility in customizing applications and services, which has attracted customers to adopt these services on a larger scale. Cloud computing also offers easy scaling of applications and services as and when required later based on the changing business needs of enterprises.”
According to the report, business processes need to comply with standard operating procedures (SOP). The basic requirement of any SOP is to understand the procedures and maintain the same standards across units. BPaaS maintains process documentation that helps organizations adhere to stringent standards. The process documents procedures and identifies discrepancies to serve customers better. Thus, the rising demand for cloud services is predicted to contribute further to the cloud-based BPO market over the forecast period.
Further, the report states that the evolution of cloud technology has resulted in more complexities and interoperability issues.
Accenture, Cognizant, IBM, TCS, SAP, ADP, Atos, CA, Capgemini, CSC, Firstsource, Fujitsu, Genpact, HCL, HP, Infosys, NGA, Oracle, SunGard, Wipro, WNS, Xerox