Everest Group defines marketing Business Process Services (BPS) as the implementation of marketing activities – including content management (content production and customization, content marketing through emails, and social media), campaign management (campaign design, campaign support, and loyalty management), channel management (including SEO/SEM), and marketing support – for enterprises. Data management and analytics that aid the provision of marketing services also fall under marketing BPS. Marketing strategy and consulting services, though not a part of administrative services, are strong enablers for marketing BPS and are offered by most service providers as higher-end offerings. Service providers are working to deliver superior customer experience, both in terms of the quality of service delivery and technology capabilities. They create an ecosystem of technology partners to bring the latest solutions to the market. They are increasing investments in analytics to foster marketing intelligence and in areas such as natural language processing, artificial intelligence, and machine learning. In this research, we present assessments of 14 marketing BPS providers and position them on the Marketing BPS PEAK Matrix® to identify Leaders, Major Contenders, and Aspirants in the space. The assessment is based on Everest Group’s annual RFI process for the calendar year 2019, interactions with leading marketing BPS providers, client reference checks, and an ongoing analysis of the marketing BPS market. Scope This research covers the following marketing BPS providers: Accenture, Cognizant, Concentrix, EXL, HCL, HGS, Infosys, Isobar, Merkle, Stefanini, TCS, Webhelp, Wipro, and WNS. Contents In this report, we study the following topics: Everest Group’s PEAK Matrix® evaluation, a comparative assessment of 14 leading marketing BPS service providers Competitive landscape of the marketing BPS market Everest Group’s remarks on key strengths and areas of improvement for each marketing BPS service provider

The PO service provider landscape is changing rapidly, as providers look at enabling end-to-end transformation journeys for clients by adopting a partner-led approach. This is leading to a rapid rise of digital, along with a shift in focus from cost reduction to driving business outcomes. Increasing investments and application of advanced/cognitive analytics, Robotic Process Automation (RPA), Internet of Things (IoT), and blockchain are all fueling this growth. In this research, we analyze the global PO service provider landscape in 2018. We focus on: 2019 PO PEAK Matrix and Star Performers Service provider delivery capability assessment Everest Group’s analysis of service providers The scope of analysis includes: Third-party PO deals; it does not include shared services or Global In-house Centers (GICs) Over 1,500 multi-process PO deals signed as of 2018, with a minimum of three procurement processes, over US$1 million in Annual Contract Value (ACV), and a minimum contract term of three years. Typically, managed spend is greater than US$50 million Coverage across 16 PO service providers with multi-process capability, namely Accenture, Aegis, Aquanima, Capgemini, Chain IQ, Cognizant, Corbus, Exela Technologies, Genpact, GEP, HCL, IBM, Infosys, TCS, Wipro, and WNS Content The report analyses the performance of various service providers in PO along seven dimensions and includes: 2019 PO PEAK Matrix and Star Performers Everest Group classified 16 PO service providers on Everest Group’s proprietary PEAK Matrix framework into Leaders: Accenture, GEP, IBM, and Infosys Major Contenders: Capgemini, Chain IQ, Cognizant, Corbus, Exela Technologies, Genpact, HCL, TCS, Wipro, and WNS Aspirants: Aegis and Aquanima Based on Year-on-Year (YOY) movement of different service providers on the PEAK Matrix, Everest Group identified four service providers as the “2019 PO Market Star Performers” – Accenture, Genpact, GEP, and WNS Everest Group analysis of service providers We assessed the overall PO capability of service providers by evaluating them along seven dimensions – scope, innovation & investments, delivery footprint, vision & strategy, market adoption, portfolio mix, and value delivered Membership(s) Procurement Outsourcing (PO)

The global multi-process FAO market witnessed a robust Year-on-Year (YOY) growth of 9-10% in 2018. The demand for FAO services remained strong from the United Kingdom, both the traditional markets of North America and Europe, as well as from the emerging Asia Pacific (APAC) and Latin American (LATAM) geographies. An increasing number of first-time outsourcers (especially in the SMB and mid-market segment) and an increasing demand for high-end F&A work from the second- and third-generation outsourcers are the key drivers for market growth. Mature buyers’ increasing willingness to adopt next-generation technology is also fueling growth. Some of the key means by which providers are differentiating themselves are by offering end-to-end transformative solutions, combined with domain and industry expertise; design thinking approach; transformation frameworks; process reengineering; and next-generation innovative offerings around advanced analytics and AI. The purpose of this research is to understand and assess FAO service providers based on their capabilities and impact in the FAO market. In this research, we focus on: Everest Group’s Services PEAK Matrix™ evaluation, a comprehensive assessment of 24 FAO service providers 2019 FAO PEAK Matrix and Star Performers Service provider delivery capability assessment Remarks on key strengths and areas of improvement for each FAO service provider Service provider landscape The scope and methodology of this report includes: Third-party multi-process FAO deals with a minimum of two F&A processes, over US$1 million in ACV, and a minimum contract term of three years Over 1,000 multi-process FAO deals signed as of 2018 Coverage across 24 FAO service providers with multi-process capability including Accenture, Aegis, Arvato, Capgemini, Cognizant, Concentrix, Conduent, Datamatics , DXC Technology, Exela Technologies, EXL, Genpact, HCL, Hexaware, IBM, Infosys, IQ BackOffice, NTT Data, Quatrro, Sutherland Global Services, TCS, TMF Group, Wipro, and WNS Membership(s) Finance & Accounting Outsourcing

As the FAO industry shifts from arbitrage-first to digital-first model, buyers are increasingly seeking to understand the digital capabilities of service providers to eliminate/reduce human effort, improve efficiency, and drive better outcomes. While individual digital components (such as Robotic Process Automation (RPA) and analytics) are important, the impact is much higher when they are integrated and implemented collectively as a suite. Such solutions are referred to as Digital Augmentation Suite (DAS). The purpose of this research is to understand and assess service providers based on DAS solutions offered by them in the FAO market. In this research, we focus on Everest Group Solutions PEAK Matrix™ evaluation, a comparative assessment of DAS solutions of 19 FAO service providers, based on which the providers are segmented into three categories Leaders: Accenture, Capgemini, Genpact, IBM, and TCS Major Contenders: Cognizant, Exela Technologies, EXL, HCL, Infosys, NTT Data, Sutherland Global Services, Wipro, and WNS Aspirants: Conduent, Datamatics, Hexaware, Intelenet, and IQ BackOffice Service provider digital capability assessment Remarks on key strengths and areas of improvement for each FAO service provider The scope and methodology of this report includes: Services: FAO Geography: Global Service providers: 19 leading FAO service providers Membership(s) Finance & Accounting Outsourcing

There has been a paradigm shift in the expectations and requirements of HR departments across the globe. HR processes and systems continue to evolve with time, accompanied with a change in enterprise approach towards improving employee experience at the workplace. Next-generation technologies have not just made the resources available to employees, but also made these resources more easily accessible and usable. These technologies have aided in breaking down the silos in which HR processes generally operate. Moreover, this growing need to provide an integrated platform globally, for a better employee experience, has paved the way for the adoption of unified, end-to-end Software-as-a-Service (SaaS) platforms such as SuccessFactors, Workday, and Oracle HCM. SuccessFactors’ distinctive features, such as its intuitive consumer-style experience and built-in decision support system, have helped it position itself distinctively in the market. In this research, we assess the market impact, overall vision, and delivery capability of service providers for SuccessFactors and evaluate their positioning on the Everest Group PEAK Matrix. Additionally, the report also includes remarks on service providers, highlighting their key strengths and development areas. In this research, we analyze the SuccessFactors-based HR BPS service provider landscape. We focus on: Overall SuccessFactors-based HR BPS market size and growth SuccessFactors-based HR BPS adoption and solution trends Service provider landscape We analyze the global SuccessFactors-based HR BPS market across the following dimensions: Relative positioning of 11 service providers on the Everest Group PEAK Matrix for SuccessFactors-based HR BPS Key strengths and development areas for service providers Content This research provides comprehensive coverage of the 2017 SuccessFactors-based HR BPS market and analyzes it across various dimensions such as market overview, buyer adoption trends, solution trends, and service provider landscape. Some of the key findings are: The SuccessFactors-based HR BPS market is currently worth ~ US$797 million and has been experiencing spectacular growth The rising adoption of SuccessFactors-based HR BPS is increasingly being driven by the shift in enterprise preferences for a more employee-centric approach, in addition to the traditional levers of cost reduction and efficiency gains The demand for consult-to-operate capabilities in the SuccessFactors environment is relatively low at present, owing to availability of diverse players in both the IT as well as the BPS side of the ecosystem. However, with the growing complexities, enterprises are seeking a single provider across the value-chain. Thus, many providers have been investing in developing consult-to-operate capabilities Europe leads in terms of SuccessFactors-based HR BPS adoption, with North America and Asia Pacific following suit In terms of industries, manufacturing, Banking & Financial Services (BFS) and high-tech & telecom are the biggest adopters of these services Among transaction processes, employee data management, payroll, and employee contact center are the most frequently outsourced, while within judgment-oriented processes, recruitment, performance, succession management, and compensation have gained the maximum traction The top three players – Accenture, Alight Solutions, and NGA HR – constitute about 70% of the SuccessFactors-based HR BPS market by value. In terms of the number of active deals, however, NGA HR is the most dominant player In terms of buyer segments, large organizations across diverse industries are adopting SuccessFactors to enable the modern digital economy to function in an integrated manner, whereas small organizations prefer to adopt specific modules in SuccessFactors Furthermore, based on the comprehensive Everest Group PEAK Matrix assessment, 11 service providers are segmented into Leaders, Major Contenders, and Aspirants Everest Group has classified 11 SuccessFactors-based HR BPS service providers on the Everest Group PEAK Matrix into: Leaders: Accenture, Alight Solutions, and NGA Human Resources Major Contenders: Capgemini, Conduent, HR Path, IBM, Neeyamo, and Zalaris Aspirants: Gavdi Group and Rolling Arrays Additionally, this report also contains Everest Group’s remarks on each of the 11 service providers’ strengths and areas of improvement Membership(s) Human Resources Outsourcing (HRO)

Health and Welfare Benefits Administration Outsourcing (H&W BAO) is one of the most compliance-driven markets in the HRO space. Due to increasing complexities and stringent regulations, enterprises are looking to utilize the knowledge and process expertise of various health & welfare benefits administration providers to ensure that they are compliant and provide the best experience to their employees. Along with the traditional drivers of cost reduction and process efficiency, drivers, such as access to technology solutions, domain expertise, and employee experience, are becoming relevant for the buyers. With their understanding of the regulatory environment and confidence in the outsourcing construct improving constantly, buyers expect a holistic benefits experience. Service providers are trying to expand their role and be more of a strategic partner rather than just a health and welfare benefits administrator. They are investing in developing proprietary AI-based chatbots, decision support tools, and intelligent virtual assistants to help the participants make informed decisions. To address the trend of “consumerism,” service providers are expanding their services to offer a broader range of benefits, such as voluntary benefits, wellness programs, and CDHPs, as these play an increasingly important role in helping enterprises reinforce their employer brand to attract and retain top talent. In this research we analyze the global H&W BAO market across the following dimensions: H&W BAO PEAK Matrix 2018 Everest Group’s analysis of service providers Scope At least two core services in the H&W BAO value chain are outsourced Deal length is at least two years All industries and geographies Content This report examines the dynamics of the global H&W BAO service provider landscape and its impact on the H&W BAO market. Based on the comprehensive Everest Group PEAK Matrix, each of the 11 H&W BAO service providers are segmented into Leaders, Major Contenders, and Aspirants. Leaders: Alight Solutions, Conduent, and Willis Towers Watson Major Contenders: ADP, Bswift, Businessolver, Empyrean, Mercer, and Secova Aspirants: Benefitexpress and OneSource Virtual The report presents some key findings on the performance of different service provider categories. Additionally, it provides insights into the strengths and areas of improvements of each service provider. Membership(s) Human Resources Outsourcing (HRO)

The PO service provider landscape is changing rapidly as providers look at enabling end-to-end transformation journeys for clients by adopting a partner-led approach. This is leading to a rapid rise of digital along with a shift in focus from cost reduction to driving business outcomes. Increasing investments and application of advanced/cognitive analytics, Robotic Process Automation (RPA), Internet of Things (IoT) and Blockchain fuel this scenario. In this research, we analyze the PO service provider landscape across different dimensions: 2018 PO PEAK Matrix and Star Performers Service provider delivery capability assessment The scope of analysis includes: Third-party PO deals; it does not include shared services or Global In-house Centers (GICs) Over 1,500 multi-process PO deals signed as of 2017, with a minimum of three procurement processes, over US$1 million in ACV, and a minimum contract term of three years. Typically, managed spend is greater than US$50 million Coverage across 13+ PO service providers with multi-process capability, namely Accenture, Aegis, Aquanima, Capgemini, Corbus, Genpact, GEP, HCL, IBM, Infosys, TCS, Wipro, and WNS Global survey and one-on-one executive-level buyer interviews to understand how organizations perceive their PO engagements Content The report analyses the performance of various service providers in PO along six dimensions and includes the following: 2018 PO PEAK Matrix and Star Performers Everest Group classified 13+ PO service providers on Everest Group’s proprietary PEAK Matrix framework into Leaders: Accenture, GEP, IBM, and Infosys Major Contenders: Capgemini, Corbus, HCL, Genpact, TCS, Wipro, and WNS Aspirants: Aegis and Aquanima Based on YOY movement of different service providers on the PEAK Matrix, Everest Group identified five service providers as the “2018 PO Market Star Performers” – Accenture, GEP, and Genpact Everest Group analysis of service providers We assessed the overall PO capability of service providers by evaluating them along seven dimensions – scope, innovation & investments, delivery footprint, vision & strategy, market adoption, portfolio mix, and value delivered Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report. Membership(s) Procurement Outsourcing (PO)

Increasing complexity in supply chain and global cost pressures are driving buyers to look for service providers who can deliver end-to-end SCM solutions that go beyond the traditional boundaries of procurement, logistics, and inventory management. Service providers have also realized that with maturing market and increasing competition in Finance and Accounting Outsourcing (FAO) and Procurement Outsourcing (PO), SCM is a lucrative market to tap into. Consequently, we witnessed growing interest in SCM in the market as buyers seemed more open to outsourcing while providers were willing to make investments to expand their suite of services. In this research, we analyze the global SCM service provider landscape in 2017. We focus on: SCM BPO PEAK Matrix for 2018 Everest Group analysis of service providers Service provider landscape Scope and methodology of this report: The report covers 11 SCM service providers with multi-process capability, namely, Accenture, Capgemini, EXL, Genpact, GEP, HCL, Infosys, OnProcess, TCS, Wipro, and WNS Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report. Membership(s) Procurement Outsourcing

The global multi-process FAO market witnessed a robust growth of 9-10% in 2016. The demand for FAO services remained strong from both the traditional markets of North America and Continental Europe, as well as from the emerging Asia Pacific (APAC) and Latin America (LATAM) geographies. The service provider landscape witnessed changes in terms of mergers & acquisitions and spin-offs, resulting in capability enhancements for some of the players. The increased focus of enterprises on their “core operations”, along with the “as-a-service” modular offerings of providers, are some of the key drivers of FAO market growth, primarily in the SMB and mid-market segments. Enterprises are much more comfortable with outsourcing process scope beyond the traditional labor arbitrage activities to include analytics and Financial Planning & Analysis (FP&A) in the deal scope. Providing end-to-end transformative solutions, combined with domain and industry expertise, and developing next-generation innovative offerings, such as around Blockchain and AI-based solutions, are some of the key means through which providers are creating a differentiation in the market. In this research, we analyze the global FAO service provider landscape in 2016. We focus on: 2017 FAO PEAK Matrix and Star Performers Service provider delivery capability assessment Everest Group’s analysis of service providers The scope and methodology of this report includes: Third-party multi-process FAO deals with a minimum of two F&A processes, over US$1 million in ACV, and a minimum contract term of three years Over 1,150 multi-process FAO deals signed as of 2016 Coverage across 25 FAO service providers with multi-process capability including Accenture, Aegis, Arvato, Capgemini, Cognizant, Concentrix, Conduent, DXC Technology, Datamatics, EXL, Genpact, HCL, Hexaware, IBM, Infosys, Intelenet, IQ BackOffice, NTT Data, Quatrro, Sutherland Global Services, TCS, TMF Group, Toutatis, Wipro, and WNS Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report. Membership(s) Finance & Accounting Outsourcing (FAO)

The landscape for capital markets BPO is becoming increasingly competitive as service providers continue to evolve their capabilities and gain market share. The advent of Robotic Process Automation (RPA) is playing a major role in shifting the dynamics of the competitive arena. The past year witnessed the focus of most service providers shifting from core capital markets offerings to RPA and cognitive automation. While some of the leading providers tried to tap into the automation market by developing their in-house automation capabilities and investing in next-generation cognitive automation technology, others tried to make the most of the RPA opportunity by partnering/collaborating with RPA technology providers such as UIPath, BluePrism, etc. While focusing on RPA can be a good short-term strategy for the service providers, they also need to identify avenues for the next wave of growth. Moreover, with the industry undergoing disruption from multiple fronts, service providers need to keep their eyes on the emerging technology trends such as blockchain, and be prepared for the impact that these might have on their business. Scope and Methodology In this research, we analyze the global capital markets BPO service provider landscape. We focus on: Relative positioning of 19 service providers on Everest Group’s PEAK Matrix for capital markets BPO Service provider capability assessment across key dimensions Service provider comments Content This report will assist key stakeholders (financial institutions, service providers, and technology providers) understand the changing dynamics of the capital markets BPO service provider landscape. It will also help them identify market Leaders, Major Contenders, and Aspirants for 2017. The report provides detailed analysis of the service providers’ market share, their relative positioning on the Everest Group PEAK Matrix, and their capability assessment. Some of the findings in the report are: Cognizant, TCS, and Wipro emerged as Leaders Avaloq, Broadridge, Capgemini, DXC Technology, eClerx, EXL, Genpact, HCL, Infosys, Mphasis, Syntel, Viteos, and WNS emerged as Major Contenders Hexaware, NIIT Technologies, and Tech Mahindra are Aspirants on the PEAK Matrix for the capital markets BPO With a strong performance during 2015-2016, Avaloq, HCL, and Wipro were conferred the “Star Performers” title on the capital markets BPO PEAK Matrix for 2017 Avaloq, Cognizant, and TCS were the top three capital markets BPO service providers by revenue DXC Technology accounted for close to 25% of the capital markets BPO clients Cognizant, EXL, Genpact, HCL, Hexaware, TCS, Wipro, and WNS all witnessed a service line growth of over 10% by revenue Avaloq, Cognizant, TCS, and Wipro, together accounted for close to 70% of the YOY growth (2015-2016) in capital markets BPO by revenue The provider landscape is very different across the LoBs. This indicates that most service providers have found their niche and tend to focus on the same North America is the largest buyer geography for capital markets BPO by revenue “Leaders” have a significant presence as well as a more balanced footprint across major geographies Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report. Membership(s) Banking and Financial Services (BFS) - Business Process Outsourcing (BPO)