TECH SUPPLIER May 2020 - Market Forecast - Doc # US45108920
Worldwide and U.S. Finance and Accounting and Procurement Business Process Outsourcing Services Forecast, 2020–2024
This IDC study provides IDC's forecast and spending for the worldwide and U.S. finance and accounting and procurement business process outsourcing services market for the 2020–2024 period. This study also updates the previous forecast published in Worldwide and U.S. Business Process Outsourcing Services Forecast, 2019–2023 (IDC #US43778119, April 2019).
"While we will see a slowdown in year-over-year spending growth (2019-2020) for finance and accounting and procurement business process outsourcing services due to COVID-19, IDC predicts some recovery in two to three years post-COVID-19 as organizations will look to drive cost efficiencies and process efficiencies by removing manual labor and investing in more automation and shifting to more agile, cloud delivery models. There could also be an increased shift, which was already occurring pre-COVID-19, to more nearshore operations," says Ali Close, manager of Digital Business Operations and Analytics Services.
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