The global business process as a service (BPaaS) market is expected to reach USD 72.25 billion by 2025. Factors such as lower time to market (TTM) rates and improved user experience are spurring the market growth in recent years. Applications of business process as a service (BPaaS) presents start to end provision for different business processes like management of user accounts, financial databases of an organization, human resource management, administration of financial funding, and customer-related services and support. Business process as a service (BPaaS) allows organizations to optimize financial expenditures while evaluating the operational cost of a business, which is vital at each level of the business process.
Application of business process as a service (BPaaS) is mainly found in large-scale organizations. However, it has slowly found its way in the small and medium-sized enterprises (SMEs) as well. Business process as a service (BPaaS) offers a systematic business operation to achieve higher efficiency in business processes. A dedicated team and allotted resources are deployed to accomplish higher performance in different business processes enables a reduction in operational costs and a decrease in the overall cost of ownership. Such advantages are drawing numerous market players for the adoption of business processes as a service (BPaaS) in their organizational structure.
Business process as a service (BPaaS) caters to business process outsourcing (BPO) functionalities via a cloud network. BPaaS is responsible for delivering differential business solutions such as horizontal and vertical business services. In current scenarios, Major corporations are considering the adoption of service-orientated methodologies to satisfy their business process outsourcing service requirement, which is serving as a key reason for the integration of cloud services on a global scale. Organizations are increasingly utilizing the BPaaS platform to gain a competitive edge and help organizations to identify themselves apart from their competitors. Business process as a service (BPaaS) is considered a core part of the business process.
A specialized cloud service model has to be successfully implemented to execute the business process as a service (BPaaS), which is a type of horizontal or vertical business module. Such cloud services have in-built functionalities of software-as-a-service (SaaS), platform-as-a-service (PaaS), and infrastructure-as-a-service (IaaS), which are platform-dependent services. Traditionally organizations were carrying out business processes either manually or programmatically, allowing lower performance levels, with the advent of business process as a service (BPaaS) is diminishing all the disadvantages associated with traditional systems
Occasionally, all of the business processes in an outsourcing organization tend to execute the business process manually or with the use of automation. With the introduction of cloud computing, the approach towards service-oriented services is on the rise. A business process as a service (BPaaS) platform offers a complete package involving business logic, data, and processes embedded into the specific process that is capable of performing multiple applications.
BPaaS platform offers well-structured interfaces. In addition, a BPaaS provides a regulated and uniform service for various applications in several organizations. Such services are commonly optimized to supply a service consistently while leveraging automated, structured, and reiteration for the way the services are implemented.
The BPaaS market is divided into regional market segments such as North America, Europe, Asia-Pacific, Latin America, and Africa. North America has shown major growth in recent years owing to the rise implementation of the latest technologies and the existence of well-established cloud infrastructure. Asia-Pacific region is predicted to hold a major market share in the business process as a service (BPaaS) market with massive growth in the forecast period.
Countries such as India, China, and Singapore are leading the Asia-Pacific market with escalating enterprise-level businesses and penetration of high-speed internet services providing numerous opportunities to the leading market players for potential investment. The key players in the business process as a service (BPaaS) industry are Accenture Co., Cognizant Technology Solutions, Cap Gemini S.A., Computer Science Co., and Fujitsu Ltd.
BPaaS Business Process Outlook (Revenue, USD Million, 2014 - 2025)
• Human Resource Management
• Accounting and Finance
• Sales and Marketing
• Customer Service and Support
• Procurement and Supply Chain
BPaaS Organization Outlook (Revenue, USD Million, 2014 - 2025)
• Small and Medium Enterprises
• Large Enterprises
BPaaS Application Outlook (Revenue, USD Million, 2014 - 2025)
• Telecom & IT
• E-commerce and retail
BPaaS Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• the U.S.
• the U.K.
• Rest of Europe
• the Asia Pacific
• Rest of Asia Pacific
• Latin America
• Rest of South America
• Middle East & Africa
Research Support Specialist, USA
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