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TechMarketView’s latest Business Process Operations Market Trends and Forecasts 2021 report is now live. Clients of the TechSectorViews research programme can read it here.
UK BPS Operations growth and market performance in 2020 was held back by both demand and supply issues. There were fewer transactions and lower volumes within certain service areas and sectors such as travel and hospitality, whilst many suppliers struggled to serve all their contracts all of the time, as workers fell ill or were forced to self-isolate. Whilst the move to remote delivery and Working from Home was a success for the majority, some contracts were restricted by regulatory, technology and capacity constraints.
The pandemic has had a profound effect on the BPS market causing it to decline in value for the first time in recent memory. Despite the slow growth in the overall BPS market in recent years, the migration away from heritage “lift and shift” operations towards more tech enabled/digital has been providing growth opportunities for those best placed to deliver.
Digital transformation of BPS operations and investment in the building blocks of digital BPS – notably analytics, UX, AI, automation, platforms, cloud, cyber etc. have accelerated significantly since early 2020. The use of technology in BPS service delivery is going to play an increasingly important role longer term with existing trends such as the acceleration to BPaaS and cloud-based delivery speeding up. Tech-enabled services and specifically automation and cloud will be at the forefront of the modernisation of services and ‘next-gen’ operations.
If you are a subscriber to TechSectorViews click here to download the UK Business Process Operations Market Trends and Forecasts report. If you don’t have a subscription and would like to gain access the report and our other research and services please contact Deb Seth.
Posted by: Marc Hardwick at 12:44
Tags: bps newresearch market+trends
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