(PRWEB) June 05, 2014
The Multi-process Human Resources Outsourcing (MPHRO) market showed a marginal 3 percent compound annual growth rate (CAGR) in 2013 compared to 2012, reaching US$3.3 billion, according to Everest Group. The Asia Pacific (APAC) region has become the hub of new activity in the segment.
Although 2013 saw the lowest number of deal signings in four years, the average annualized contract value (ACV) per deal was the highest in four years.
In a just-released report, Everest Group predicts that the MPHRO market will continue to grow at 2 to 5 percent CAGR during 2014 to 2016. From a geography perspective, North America continues to hold more than 50 percent market share; however, APAC continued to be the fastest growing MPHRO market, with over a third of the new deals being signed in that region. Within APAC, activity traversed beyond the traditional markets such as Australia to include countries such as China, India, Indonesia, and Japan.
These findings and more are discussed in “Multi-Process Human Resources Outsourcing (MPHRO) – Annual Report 2014: The Times Are Changing.” A complimentary preview deck is available to download.
Other Key Findings from the Report
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Graphics illustrating the report’s key takeaways can be included in news coverage of the report with source attribution to Everest Group and a link to the graphic source page on the Everest Group website. Graphics include:
“The MPHRO market continues to evolve across multiple dimensions,” said Rajesh Ranjan, vice president at Everest Group. “Increasing maturity of Asia Pacific as a demand geography, continued global sourcing maturation, traction of BPaaS models based on third-party software-as-a-service solutions, real-world play of analytics, and emergence of robotics automation are creating new value creation opportunities. Both existing and prospective buyers would do well to better understand and leverage some of these to create a more efficient and effective HR service delivery model.”
Everest Group’s MPHRO Annual Report 2014 report provides comprehensive coverage of the 2013 global MPHRO market and analyzes it across various dimensions such as market overview and key regional trends, buyer adoption and solution trends, and service provider landscape. For this study, MPHRO deals include those in which a minimum of three HR processes are included and the buyer employee size is 3,000 or more.
About Everest Group
Everest Group, an advisor to business leaders on the next generation of global services, has a worldwide reputation for helping Global 1000 firms dramatically improve their performance by optimizing their back- and middle-office business services. Through its practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. For more information, please visit http://www.everestgrp.com and research.everestgrp.com.