- The key vendors in the global outsourcing market in BFS sector 2015-2019 are Accenture, Genpact, IBM, and TCS
London, 09 November 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global outsourcing market in BFS sector 2015-2019. Emergence of new outsourcing destinations if one of the key trends gaining grounds in this market. Investors have started reassessing their investments in these markets and withdrawing capital. In addition, short-term challenges, for instance, high inflation, political instability, and corruption, have led to the emergence of alternative new outsourcing destinations like Sri Lanka and Colombia. The global outsourcing market in the BFS sector is expected to grow at a CAGR of 6.75% during the period 2014-2019.
The BFS sector commonly outsources its IT service requirements, including application support and infrastructure management and support. In addition, specific operations related to finance and accounting, back-office activities and processing, and administration and contract functions are outsourced. Outsourcing enables organizations in the BFS sector to transfer their risks, meet changing regulatory compliances, improve customer services, and achieve cost efficiencies.
“Outsourcing helps organizations in the BFS sector to reduce their operating costs, increase operational efficiency, and gain a competitive advantage,” says Faisal Ghaus, Vice President of Technavio Research.
“The shortage of in-house talent and the need for data centers to comply with complex regulatory norms have led to an increase in demand for third-party services.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Global Outsourcing Market in BFS sector 2015-2019, please send an e-mail to media@TechNavio.com
Follow us on Twitter @Technavio
Like us on Facebook
Follow us LinkedIn
Connect with us on Google+
