Market Vista™: 2024 Year in Review and Outlook for 2025 provides an overview of the global services industry’s developments in 2024 and presents Everest Group’s outlook for 2025. We analyze key trends and drivers of in-house delivery centers, offshore/nearshore locations, providers, and outsourcing transactions. The report will help buyers, analysts, experts, and business executives evaluate sourcing market developments from both providers’ and buyers’ perspectives and facilitate timely decision-making. Scope All industries and geographies Contents In this report, we analyze: 2024 global sourcing market trends Outsourcing transactions and trends by function, sector, geography, deal mix, and digital component distribution Offshore/Nearshore in-house developments, including new center setups, distribution by service type, sector, existing and new adopters, and function Onshore, nearshore, and offshore location activities by type, region, city, function, and digital services 34 leading providers based on their annual performance, capability enhancements, M&As, and other key events Global services market outlook for 2025

This Executive Brief is available only to Outsourcing Excellence members. For information on membership, please contact us Since the inception of Global Business Services (GBS), organizations have been refining their resourcing models, balancing in-house operations, outsourcing, or a hybrid resourcing approach. This hybrid model strategically combines the strengths of in-house and outsourced resources, enabling enterprises to achieve greater agility, cost efficiency, and improved service delivery. In this report, we interview leading GBS organizations to examine the intricacies of managing the hybrid resourcing model. The report highlights enterprise challenges, such as viewing outsourcing providers through a master-servant lens rather than as strategic partners, which limits collaboration. To address these challenges, we recommend adopting a unified service delivery model incorporating a central strategy team, workforce planning through HR, and a unified delivery team. This research offers businesses insights to maximize their hybrid model’s potential, foster sustainable partnerships, and drive long-term success in today’s dynamic global environment. Scope All industries and geographies Contents In this report, we examine: The hybrid model’s combined in-house and outsourced strengths How unified service delivery fosters strategic partnerships Actionable guide for driving business success Note: Everest Group publishes Executive Briefs for senior executives from enterprises. These briefs address hot industry topics and particularly challenging issues of the day in an easy-to-digest format.

This Virtual Roundtable Discussion Summary is available only to GBS / Shared Services Excellence members. For information on membership, please contact us Everest Group regularly organizes virtual sessions in which senior executives from enterprises convene to share experiences and network with colleagues in other organizations on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group experts and our participants discussed how COVID-19 has led to changes in the outsourcing and insourcing of IT and business process services in the banking and financial services industry.

This Virtual Roundtable Discussion Summary is available only to GBS/ Shared Services members. For information on membership, please contact us Everest Group regularly organizes virtual sessions in which senior executives from enterprises convene to share experiences and network with colleagues in other organizations on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group Vice Presidents Sakshi Garg and Nitish Mittal and Practice Director Bharath M, and our participants discussed how COVID-19 has led to changes in the outsourcing and insourcing of IT and business process services in the retail and CPG industry.

This Virtual Roundtable Discussion Summary is available only to GBS/ Shared Services Excellence members. For information on membership, please contact us Everest Group regularly organizes virtual sessions in which senior executives from enterprises convene to share experiences and network with colleagues in other organizations on hot industry topics or particularly challenging issues of the day. In this virtual roundtable, Everest Group Partner Jimit Arora and Vice Presidents Manu Aggarwal and Rohit Aggarwal, and our participants discussed how they are adjusting sourcing models and managing expectations around service delivery, cost savings, and evolving demand profile post-pandemic.

On July 23, Everest Group hosted a webinar titled, "Insourcing: New Motives and Best Practices for Success." As they plan recoveries and fortify business continuity plans, many business leaders are seeking to rebalance their sourcing model with a heavy emphasis on insourcing. If you are among the companies planning this shift of service delivery from third parties to a shared services / global business services model, you will want to gain a deep understanding of the potential strategic and operational benefits, as well as the pitfalls. Join us in this session to hear the range of considerations and best practices. You’ll get answers to questions such as: Why is insourcing on the rise? What are the traditional and current triggers to insource? What key factors should you use to determine if you should insource? What are the potential strategic and operational benefits of insourcing? How do you chart a successful insourcing journey? What are lessons learned from similar companies as they undertook insourcing journeys?

This report is available only to Strategic Outsourcing & Vendor Management and GICs & Shared Services (GIC/SS) members. For information on membership, please contact us Insourcing is defined as the shift in service delivery from a third-party outsourcing model to the Shared Services / Global In-house (SS/GIC) model. It has gained momentum in the recent past. Multiple organizations are rebalancing their sourcing model mix in favour of insourcing, given a wide range of strategic and operational benefits it offers. The insourcing journey can be full of pitfalls; hence, it is imperative for enterprises to have a clear understanding of the best practices to insource successfully. This document will help you identify: Strategic and operational benefits of insourcing enterprises Trigger points that drive an enterprise toward insourcing Case studies highlighting how enterprises have successfully insourced Best practices for GICs to ensure success of their insourcing journey

The global sourcing market continued to evolve and grow rapidly in 2018, to cross US$196 billion. While global enterprises leverage different sourcing models to suit their objectives and requirements, Global In-house Centers (GICs) continue to be an integral component of the sourcing model, accounting for ~25% of the global services market. The success of the GIC model in India, Ireland, Poland, the Philippines, and China has led buyers to explore its application in other locations. While these countries continue to lead GIC activity, companies also established GICs in other parts of Asia, Central & Eastern Europe (CEE), Rest of Nearshore Europe (RONE) (which includes Ireland, Norther Ireland, Scotland, and Portugal), Latin America, and Middle East & Africa (MEA). Besides the geographic diversification, the GIC market also expanded across verticals and functions. Scope This research leverages Everest Group’s proprietary GIC database, the industry’s most comprehensive database on GICs. The analysis is based on the GICs that provide offshore delivery of global services and excludes shared service centers that serve domestic operations. Data from the GIC database and Everest Group’s experience in the GIC segment has been supplemented by knowledge on key themes of the study, sourced through interactions with people working in GICs This report is relevant to a broad set of stakeholders — buyers / parent organizations, service providers, GICs, and industry influencers (investors, industry bodies, etc.) Contents This report provides an in-depth analysis of the GIC landscape and trends. It covers market size, growth, and distribution of GICs by buyer portfolio, scale, functions supported, and offshore delivery locations. The research also provides an overview of the trends witnessed in the overall GIC landscape in 2018. These have been compared with the GIC activity for the previous two years, to bring forth key areas of differences. It also analyzes the GIC market across key offshore delivery locations, industry verticals, and functions: The location section covers GIC activity across India, Rest of Asia, Central & Eastern Europe (CEE), Rest of Nearshore Europe (RONE), Latin America, and Middle East & Africa. The subsection focuses on activity in the established as well as emerging delivery locations covering the GIC market size, number of new setups, and key cities in these locations The industry and function section analyzes the GIC market across key industry verticals — Banking, Financial Services, & Insurance (BFSI); Energy & Utilities (E&U); healthcare; manufacturing; retail & Consumer Packaged Goods (CPG); and technology & communication, and functions — business process – finance and accounting, human resource, supply chain, industry-specific processes, analytics, and customer care; information technology – application development & maintenance and infrastructure; and research & development / engineering The study concludes with a deep dive into the increasing insourcing of IT services delivery in GICs (including driving factors and case examples). Membership(s) Catalyst™

On May 16, Everest Group hosted a one-hour webinar that discussed the latest global service market trends as well as the impact of regulation on the industry. In addition, we provided a unique perspective on the adoption of hybrid sourcing delivery models. Key themes discussed were: Trends: How did the global services industry fair in Q1 2017? Which new trends are continuing from 2016? Regulations: What is the likely impact of key regulations, such as visa reforms in the United States, on the global services industry? Geographies: How did locations fare given the past year’s many socio-political changes? Why did Nearshore Europe witness a decrease in activity after many years of sustained interest? Hybrid Sourcing Delivery Models (Special Topic): What is the adoption of hybrid sourcing models (i.e., BOT, Virtual/Assisted GIC, Joint Venture)? What are the relative benefits and challenges associated with implementing these models? This is the deck used during the presentation. Listen to a recording of this webinar. Membership(s) Market Vista

Executive Summary The initial wave of offshoring was primarily driven by labor arbitrage. However, in recent times increasing wage rates in offshore locations, coupled with automation technologies that reduce the need for human capital, have undermined the value proposition of the labor arbitrage model. Consequently, firms have started looking beyond the traditional construct of labor arbitrage to reevaluate their sourcing philosophy to better incorporate the overall business objectives. Most recently, the reshoring phenomenon, i.e., movement of work back to onshore locations, has caught the attention of many organizations. Reshoring enables companies to achieve better business outcomes by removing business barriers created by offshoring. Communication, efficiency, agility, delivery management, and regulatory compliance are some of the key areas that are negatively impacted by offshoring. Reshoring can potentially address concerns around these and help in improving the overall business outcome. Although reshoring is likely to be more expensive compared to offshoring, the non-financial business benefits, such as faster time-to-market, easier retention of knowledge, lower attrition, and ease of management offered by reshoring, make it a compelling sourcing model. This aims to act as an aid for global sourcing managers to prepare and analyze the business case for reshoring.