Global Cloud-based Business Process Service Market 2009-2013

Cloud-based Business Process Services is increasingly becoming popular, as they provide a flexible, low-cost business model to ensure its customers focus more on their core businesses instead of worrying about their business processes. Moreover, the businesses can easily meet the fluctuating demands through this model. Additionally, the Global Cloud-based Business Process Service providers give network-based access to business processes. Thus, it eliminates the need for time consuming patches and updates in the software.

The global economic slowdown has had an impact on IT spending by companies and they are adopting cost saving measures such as adopting Cloud-based services for the growth of their business. Further, the increasing use of web-based computing, and the popularity of web-based applications have fueled the growth of Cloud-based Business Process Services.

Global Cloud-based Business Process Services involve software distribution through locally installed graphical user interfaces. For example, the advanced technology (such as AJAX browser-based technology) maximizes system speed with minimum refreshes required; thus, improving system performance and interaction. Further, the advent of better standards and asynchronous web-development technologies (JavaScript, Flash, Flex, Extensible Markup Language), etc, has made the web more interactive. Also, the Web 2.0 and social computing technologies accelerate business growth. Moreover, the integration with blogs, forums, ratings, reviews, and social bookmarks into Web store enhances the customer experience.

Initially, the small & medium enterprises (especially the ones who were undergoing a credit crunch) were opting for Cloud-based Business Process Services as a cost effective alternative (such as making installment based payments). However, at present, the big companies have also started taking an interest in these services.

In recent times, most of the IT companies have channelized their service portfolio to introduce new service offerings. However, issues such as convincing customers about the benefits of Cloud-based model, handling integration,& interface and security issues, etc. are required to be addressed by the Global Cloud-based Business Process Service vendors.

This by Technavio Insights report highlights scope of the Global Cloud-based Business Process Service market over the period 2009-2013, along with trends, drivers, growth inhibitors and a few major vendors in the market.