ibex is a business process outsourcing (BPO) company that manages customer service and customer acquisition operations on behalf of other businesses. ibex's core service — ibex Connect — deploys agents across voice, chat, email, SMS, and social media to handle customer service inquiries, technical support, upselling, and back-office functions like finance and HR administration. ibex also offers ibex Digital, a smaller but faster-growing service line focused on digital marketing and customer acquisition campaigns, and ibex CX, an analytics and survey toolset for measuring customer sentiment. ibex serves over 140 clients across retail, e-commerce, telecom, healthcare, fintech, and technology verticals, including Fortune 500 firms like Amazon. ibex charges clients per interaction, per agent seat, or per unit of work. Margins are primarily driven by geographic delivery mix — offshore (Philippines, Pakistan, India) and nearshore (Jamaica, Nicaragua, Honduras) delivery carries lower labor costs than onshore U.S. delivery. ibex actively shifts its mix toward offshore and nearshore to expand margins. ibex also argues that digital and omnichannel services carry higher margins than traditional voice, and it is commercializing AI-based offerings — including an AI Virtual Agent and real-time translation product — as a higher-margin revenue layer. ibex pursues a "land and expand" strategy, winning an initial engagement and then growing wallet share by outperforming competitors within existing clients. ibex describes itself as the largest BPO employer in Pakistan, and entered India in FY25 to further broaden its offshore footprint.