Business process outsourcing (BPO) is the contracting of an operational function, such as customer service, finance and accounting, claims handling, content moderation or data processing, to an external provider that runs it on the client's behalf, usually from delivery centres in lower-cost locations. The largest providers employ hundreds of thousands of people: Concentrix reports approximately 455,000 employees and staff across 74 countries, and Genpact more than 146,500 employees.
This list covers the ten largest BPO companies that publish audited or official annual revenue and still operate as independent listed businesses, ordered by revenue in their most recent completed fiscal year. It includes customer-experience specialists such as TP and Concentrix, back-office and finance specialists such as Genpact, and smaller fast-growing firms such as TaskUs and IBEX. Several former listed peers left the market in 2025 through acquisitions, which changed the composition of the sector.
Contents
- What BPO companies do
- Methodology
- The list
- Comparison table
- Consolidation and market trends
- Frequently asked questions
- See also
What BPO companies do
BPO work divides broadly into front-office and back-office services. Front-office work, often called customer experience or CX outsourcing, covers contact centres, technical support, sales and collections; TP's Core Services and TTEC's Engage segment are examples. Back-office work covers finance and accounting, procurement, insurance claims, healthcare administration and HR services, the area in which Genpact and Conduent originated. A newer category, sometimes grouped under trust and safety or AI services, covers moderating online content and preparing and labelling data used to train AI systems; TaskUs reports this as a separate service line, and TP lists data services for AI among its growth drivers.
Most large providers combine onshore account management with delivery from India, the Philippines, Latin America or Eastern Europe. IBEX, for instance, reports that 97% of its on-site capacity is located offshore or nearshore, and TaskUs reported 65,500 teammates at the end of 2025.
Methodology
Companies were included if their filings or results releases describe the outsourced operation of client business processes, such as customer care, back-office administration or content moderation, as their core activity, and if they publish audited or official annual revenue. Entries are ordered by total revenue in the most recent completed fiscal year available on 12 November 2026: years ending December 2025 (TP, Genpact, Conduent, TTEC, EXL, TaskUs), November 2025 (Concentrix), March 2026 (transcosmos, Firstsource) and June 2026 (IBEX).
Figures are shown in each company's reporting currency. For transcosmos and Firstsource, the U.S.-dollar figures published by the companies themselves were used for ordering. The order between TP (in euros) and Concentrix (in dollars) would change only if the euro traded below about US$0.97. Total revenue includes any non-BPO activities a company has, such as TTEC's technology consulting segment, so the ranking measures company scale rather than BPO revenue alone. Companies that are privately held and do not publish audited revenue, and BPO units inside larger IT groups that do not report them separately, are excluded. WNS and TELUS Digital, both previously listed, were excluded because they were acquired in October 2025 and no longer report independently.
The list
1
Paris-based customer-care and back-office group trading as TP
Best for: Large multilingual customer-care programmes across many countries
Teleperformance SE, which now presents itself as TP, reported 2025 revenue of €10,209 million, up 1.3% like-for-like excluding hyperinflation but down 0.7% on a reported basis. Core Services, covering customer care, sales, back-office and data services for AI, generated €8,724 million and grew 2.7% like-for-like; Specialized Services, which include LanguageLine Solutions interpreting, collections and visa application management, generated €1,485 million and fell 9.3% like-for-like after the non-renewal of a large visa contract. Net profit attributable to the group was €497 million. The company states that its staff work in close to 100 countries. In February 2026 the board appointed Jorge Amar, previously a senior partner at McKinsey, as chief executive from 16 March 2026, with founder Daniel Julien stepping down from his executive role. Guidance for 2026 is like-for-like growth of 0% to 2%.
- Revenue (FY2025)
- €10,209m
- Net profit, group share (FY2025)
- €497m
- Headquarters
- Paris, France
- Countries
- Close to 100
- Listing
- Euronext Paris
Strengths
- Largest company in this list by reported revenue
- Specialised services such as interpreting and visa processing alongside customer care
Limitations
- Reported revenue declined in 2025 and 2026 guidance allows for zero growth
- Leadership changed at the top in March 2026, with the founder leaving executive office
2
C
Customer-experience outsourcer enlarged by the 2023 Webhelp combination
Best for: Global brands consolidating customer-experience operations with one provider
Concentrix reported revenue of US$9,825.8 million for the fiscal year ended 30 November 2025, compared with US$9,618.9 million a year earlier. The year included a non-cash goodwill impairment charge of US$1,523.3 million, which turned the company's operating result into a loss. Concentrix traces its roots to 2004, when SYNNEX Corporation, now TD SYNNEX, acquired BSA Sales, a 20-person outsourced sales and marketing firm. In September 2023 it completed its combination with Webhelp, which the company says significantly expanded its footprint in Europe, Latin America and Africa. According to its annual report it delivers services through approximately 455,000 employees and staff across about 483 locations in 74 countries. Its principal executive offices are in Newark, California.
- Revenue (FY2025)
- US$9,825.8m (year to 30 Nov 2025)
- Employees
- c. 455,000
- Countries
- 74
- Headquarters
- Newark, California, US
Strengths
- Very large delivery network across 74 countries
- Broad European and Latin American presence after the Webhelp combination
Limitations
- US$1.52bn goodwill impairment in fiscal 2025
- Integration of Webhelp has added complexity to the business
3
Former GE captive centre now focused on finance, operations and data work
Best for: Finance and accounting, procurement and other back-office process outsourcing
Genpact was established more than 25 years ago as the global capability centre for General Electric, where its mandate was to standardise shared business processes using Lean Six Sigma methods. It reported 2025 net revenues of US$5,079.9 million, up 6.6%, split between Core Business Services at US$3,875.8 million and Advanced Technology Solutions at US$1,204.1 million, the latter growing 17.0%. Net income rose to US$552.5 million. At 31 December 2025 the company had over 146,500 employees working in more than 35 countries, and it identifies India as the location of a substantial portion of its assets, employees and operations. Genpact Limited is incorporated in Bermuda, with its registered office in Hamilton.
- Revenue (FY2025)
- US$5,079.9m
- Net income (FY2025)
- US$552.5m
- Employees
- Over 146,500
- Incorporation
- Bermuda
Strengths
- Long track record in finance and accounting processes from its GE origins
- Profitable with growing revenue in 2025
Limitations
- Heavy concentration of staff in India
- Core Business Services grew more slowly (3.7%) than the technology segment
4
Business process services for commercial, government and transportation clients
Best for: US public-sector programmes and commercial back-office administration
Conduent describes itself as a technology-driven business process solutions and services company serving commercial, government and transportation clients. It reported 2025 revenue of US$3,042 million, down 9.4% from US$3,356 million, or down 4.2% on an adjusted basis that excludes divested businesses. Pre-tax loss was US$160 million and the adjusted EBITDA margin was 5.4%. The company had approximately 51,000 associates and is based in Florham Park, New Jersey. Conduent has continued to sell businesses: on 1 October 2026 it completed the sale of its transit business, receiving US$140 million in cash at closing, and it has disclosed a pending sale of its tolling business.
- Revenue (FY2025)
- US$3,042m
- Employees
- c. 51,000
- Headquarters
- Florham Park, New Jersey, US
Strengths
- Large government and public-programme administration practice
- Wide scope from HR services to payment processing
Limitations
- Reported a pre-tax loss in 2025 and revenue has fallen
- Ongoing divestitures (transit sold in 2026, tolling pending) change what the company offers
5
T
Tokyo-listed contact-centre, BPO and digital marketing group founded in 1966
Best for: Companies needing Japanese-language customer service and Asian operations
transcosmos was founded in Japan in 1966 as a data-entry business process outsourcing provider and later expanded into contact-centre operations, digital marketing and e-commerce services. The company states that it employs more than 70,000 professionals in 36 countries and regions. For the fiscal year ended 31 March 2026 it reported consolidated net sales of ¥393,866 million, up 4.8%, with operating profit of ¥16,558 million, up 14.4%. Its results release translates net sales into US$2,462.7 million at ¥159.93 to the dollar, for convenience only. The parent company accounted for ¥254,286 million of external sales and overseas subsidiaries and affiliates for ¥99,601 million, so most of the business remains in Japan. The shares are listed on the Tokyo Stock Exchange.
- Revenue (FY2026)
- ¥393,866m (year to 31 Mar 2026; US$2,462.7m convenience translation)
- Founded
- 1966
- Employees
- More than 70,000 (company statement)
- Listing
- Tokyo Stock Exchange (9715)
Strengths
- Strong position in Japan and wider Asia
- Combines contact centres with digital marketing and e-commerce operations
Limitations
- Most revenue is generated in Japan, so non-Japanese buyers have a smaller footprint to draw on
- Results are reported in yen under Japanese GAAP, complicating comparison
6
T
Customer-experience outsourcer with a separate CX technology consulting arm
Best for: Contact-centre outsourcing combined with CX platform implementation
TTEC Holdings was founded in 1982 and describes itself as a global customer experience technology and services outsourcing partner for brands and public-sector clients. Revenue for 2025 was US$2,136.9 million, down from US$2,207.6 million in 2024; the TTEC Engage outsourcing segment contributed US$1,667.7 million and the TTEC Digital technology segment US$469.2 million. The company recorded a total non-cash impairment loss of US$205.4 million connected with the TTEC Digital reporting unit. At 31 December 2025 it had approximately 51,000 employees, about 48,500 of them serving TTEC Engage clients. Its principal executive offices are in Austin, Texas.
- Revenue (FY2025)
- US$2,136.9m
- Founded
- 1982
- Employees
- c. 51,000
- Headquarters
- Austin, Texas, US
Strengths
- Pairs outsourced operations with an in-house technology consulting business
- Long operating history in customer care
Limitations
- Revenue has declined for two consecutive years
- Large 2025 impairment in its Digital segment
7
New York-based operations and analytics firm with a large insurance and healthcare practice
Best for: Insurers and healthcare payers wanting operations combined with analytics
EXL (ExlService Holdings) was founded in 1999 and is headquartered in New York; it describes itself as a global data and artificial intelligence company and reports more than 65,000 employees across six continents. It reported 2025 revenue of US$2.09 billion, an increase of 13.6% on both a reported and constant-currency basis. GAAP diluted earnings per share rose 28.0% to US$1.54. For 2026 the company guided to revenue of US$2.275 billion to US$2.315 billion, or growth of 9% to 11%.
- Revenue (FY2025)
- US$2.09bn
- Founded
- 1999
- Employees
- More than 65,000
- Headquarters
- New York, US
Strengths
- Double-digit revenue growth in 2025
- Combines process operations with analytics capability
Limitations
- Repositioning towards data and AI services may shift focus away from pure process work
- 2026 growth guidance of 9% to 11% is below the 13.6% achieved in 2025
8
Texas-based provider of digital customer support, trust and safety and AI data services
Best for: Technology platforms needing content moderation and AI training-data work
TaskUs reported 2025 revenue of US$1,183.5 million, up 19.0%, and net income of US$102.3 million. The company works in three service lines: digital customer experience, trust and safety (content moderation), and AI services such as data labelling; in the fourth quarter AI services revenue grew 45.9%. It ended 2025 with about 200 clients and 65,500 teammates. A proposed take-private by an entity owned by a Blackstone-affiliated fund and the company's co-founders failed when shareholders did not approve it at a meeting on 8 October 2025, and the merger agreement was terminated the next day. In February 2026 TaskUs announced a US$500 million term loan and a special dividend of US$3.65 per share. Its principal executive offices are in New Braunfels, Texas.
- Revenue (FY2025)
- US$1,183.5m
- Net income (FY2025)
- US$102.3m
- Headcount
- c. 65,500 (end 2025)
- Headquarters
- New Braunfels, Texas, US
Strengths
- Fastest revenue growth among the larger firms in this list in 2025
- Specialised trust-and-safety and AI data operations
Limitations
- Concentrated client base of about 200 clients
- Higher leverage after borrowing to fund the 2026 special dividend
9
RP-Sanjiv Goenka Group company serving healthcare, banking and utilities clients
Best for: UK utilities and US healthcare and mortgage servicing operations
Firstsource Solutions is part of India's RP-Sanjiv Goenka Group and is listed on the NSE and BSE. For the fiscal year ended 31 March 2026 it reported revenue of ₹95,564 million, equivalent to US$1,082 million according to the company, an increase of 19.7%. Reported profit after tax was ₹6,744 million after exceptional items; adjusted profit was ₹7,543 million. The company signed 17 large deals during the year and closed it with a headcount of 36,205. It lists operations in the United States, United Kingdom, India, the Philippines, Mexico, Romania, Trinidad and Tobago, South Africa and Australia, and serves healthcare, banking and financial services, communications, media and technology, retail and utilities clients. Guidance for fiscal 2027 is constant-currency revenue growth of 10% to 13%.
- Revenue (FY2026)
- ₹95,564m / US$1,082m (year to 31 Mar 2026)
- Headcount
- 36,205 (31 Mar 2026)
- Parent group
- RP-Sanjiv Goenka Group
Strengths
- Close to 20% revenue growth in fiscal 2026
- Established presence in both the UK and US markets
Limitations
- Attrition of 29.7% for staff with more than 180 days' service
- Reports in rupees, which complicates comparison with dollar-reporting peers
10
Nearshore and offshore customer-engagement provider with a growing healthcare vertical
Best for: Mid-sized brands seeking nearshore Caribbean and Central American delivery
IBEX reported revenue of US$644.1 million for the fiscal year ended 30 June 2026, an increase of 15.4%, and net income of US$46.3 million. It operates 30 delivery centres in the United States, the Philippines, Jamaica, Nicaragua, Pakistan and Honduras, with approximately 35,000 employees, and 97% of its on-site capacity is in offshore and nearshore locations. Its HealthTech vertical rose to 17.7% of revenue, while revenue from telecommunications clients fell 18.7%. One client accounted for approximately 9% of revenue in fiscal 2026, down from 11% a year earlier. The company's SEC filings give its business address in Washington, D.C.
- Revenue (FY2026)
- US$644.1m (year to 30 Jun 2026)
- Net income (FY2026)
- US$46.3m
- Employees
- c. 35,000
- Delivery centres
- 30
Strengths
- Double-digit revenue growth with rising net income
- Nearshore capacity in Jamaica, Nicaragua and Honduras for North American clients
Limitations
- Much smaller scale than the largest providers
- Telecommunications revenue fell sharply in fiscal 2026
Consolidation and market trends
Frequently asked questions
What is a BPO company?
A BPO company runs business processes for other organisations under contract. Typical services include customer service and technical support, finance and accounting, insurance claims, healthcare administration, collections, HR services and content moderation. Work is usually delivered from centres in countries such as India, the Philippines and Latin America, under contracts that commonly run for several years and set service levels for quality and response times.
Which is the largest BPO company in the world?
Among companies that publish audited revenue, Teleperformance, which trades as TP, is the largest in this list with 2025 revenue of €10,209 million. Concentrix is close behind with US$9,825.8 million for its fiscal year ended November 2025. Privately held providers that do not publish revenue cannot be compared on the same basis and are not included.
What is the difference between BPO and KPO?
BPO generally refers to outsourcing standardised, high-volume processes such as call handling, data entry or transaction processing. Knowledge process outsourcing (KPO) refers to work that requires more specialised expertise, such as analytics, research or actuarial support. In practice many providers in this list, including Genpact and EXL, offer both, and the distinction is one of degree rather than a formal category.
Which countries are the main BPO delivery locations?
India and the Philippines are the largest delivery locations for English-language work. TaskUs reported that the Philippines was its largest market, and Genpact states that a substantial portion of its staff and operations are in India. Nearshore centres in Latin America and the Caribbean, such as those IBEX runs in Jamaica, Nicaragua and Honduras, serve North American clients in similar time zones.
Is AI replacing BPO companies?
Not on the evidence of 2025 results, although it is changing the work. TaskUs reported fast growth in its AI services line, which prepares training data, and TP named data services for AI among its growth drivers. At the same time several large customer-care providers reported flat or declining revenue, and many are repositioning their services around automation and AI agents.
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