There is sufficent evidence to suggest that the global economy is on a path toward recession, especially given the COVID-19 outbreak, geopolitical uncertainty, and economic instability in many countries. As a result, most sectors will be impacted, including Business Process Services (BPS). However, as the industry is quite heterogenous, the impact on different BPS segments will vary and depend on multiple factors. Hence, it is critical to have a more nuanced market view across BPS segments (for example, HR vs. F&A) and identify strategies to not only cope with the downturn, but also emerge stronger.
In this report, we explore the likely impact of a recession on the BPS industry. We also outline a framework for service providers to identify the relative impact of the recession on various BPS segments and suggest appropriate strategies for each segment based on the providers’ financial positions.
All industries and geographies
In this paper, we address the following topics:
Banking and Financial Services (BFS) - Business Process Outsourcing (BPO)
Customer Experience Management (CXM) Services, including Contact Center Outsourcing
Finance & Accounting Outsourcing
Healthcare Payer and Provider Business Process
Life Sciences Business Process