Hfs Research and NASSCOM conducted a survey on how the latest business drivers are impacting the market for BPM services. It included 343 industry stakeholders across the whole spectrum – enterprise buyers, providers and advisors. The buyer sample included an extensive industry representation including baking and financial services, insurance, consumer packages goods, energy, oil and gas, pharma and healthcare, retail and hospitality, transportation and many more. The findings sum up the sectors sentiments and provide important signs for the road ahead.
First, profitability and productivity remain the main challenges for companies.
Second, digital technology is identified as the biggest help in achieving business goals. Process automation, which has been talked so much recently, comes a distant fourth.
Third, there is a massive gap in perception between the different players in the sector. Buyers expect big changes in BPM contracts by 2018 but Advisors don’t think much will change.
When asked what a BPM service provider should stop doing to succeed in 2018 marketplace, the responses were not very surprising. Finding new talent that is not repackaged as fresh but really is has been a challenge for sometime and continues to be.
When asked what change buyers would like to see in BPM industry, the response is a pleasant sign on changing times.
More insights in our Making the Leap from Effective to Strategic BPM report. Get it here.