Frost Radar™: Customer Experience Outsourcing Services in North America, 2022

Information Technology Frost Radar™: Customer Experience Outsourcing Services in North America, 2022

A Benchmarking System to Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines


RELEASE DATE
23-Nov-2022
REGION
North America
DELIVERABLE TYPE
Frost Radar

RESEARCH CODE
K844-01-00-00-00
SKU
IT04621-NA-MR_27147
Yes
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Frost Radar™: Customer Experience Outsourcing Services in North America, 2022
Published on: 23-Nov-2022 | SKU: IT04621-NA-MR_27147

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The customer experience (CX) outsourcing services landscape will sustain a strong growth trajectory during the next five years. Two drivers will fuel this momentum: the increasing acceptance of CX as a formidable competitive differentiation strategy and undeniable incentives for companies to outsource their CX operations.

For the third year in a row, improving CX ranked as the number-one business goal among IT decision-makers (N=1,120) who participated in a Frost & Sullivan survey. Organizations across the board now realize that providing a superior CX is imperative for staying relevant in their market. This shift is bringing greater attention and investment opportunities to the CX outsourcing services market.

High inflation rates, rising wages, a turbulent future economic outlook, and the growing complexity of running CX operations and achieving optimal results will pressure North American organizations to outsource their CX capabilities.

Companies expect continuous process enhancement and rapid innovation. As organizations adapt to changing market conditions, they are looking to partner with nimble CX service providers (CXSPs) to accelerate time to market. The right mix of people, processes, and technologies is the key to success and will help providers deliver reliable and agile transformation capabilities to their clients.

In a highly fragmented market composed of more than 200 organizations, Frost & Sullivan independently plotted the top 18 companies in this Frost Radar™ analysis. The analysis is based on a set of 10 criteria related to Growth and Innovation, as follows:

Growth index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user-focused sales and marketing strategies.

Key elements of this index include:

GI1: Market Share (previous 3 years)
GI2: Revenue Growth (previous 3 years)
GI3: Growth Pipeline
GI4: Vision and Strategy
GI5: Sales and Marketing

Innovation index (II) is a measure of a company’s ability to develop products/services/solutions that are developed with a clear understanding of disruptive Mega Trends, are globally applicable, are able to evolve and expand to serve multiple markets, and are aligned to customers’ changing needs.

Key elements of this index include:

II1: Innovation Scalability
II2: Research and Development
II3: Product Portfolio
II4: Megatrends Leverage
II5: Customer Alignment

The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Sebastian Menutti

The Strategic Imperative

The Strategic Imperative (continued)

The Growth Environment

Frost Radar™: CX Outsourcing Services in North America

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment—Shifting Innovation Frontier

Frost Radar™: Competitive Environment—Key Growth Strategies

[24]7.ai

Alorica

Arise Virtual Solutions

Concentrix

Conduent

Firstsource

Genpact

Hinduja Global Solutions

ibex

Infosys BPM

Qualfon

Sitel Group®

Startek®

Sutherland Global Services

TaskUs

Teleperformance

TELUS International

TTEC

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

List of Acronyms

Legal Disclaimer

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
Speak directly with our analytics experts for tailored recommendations.

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Impacting your company's future growth potential.

The customer experience (CX) outsourcing services landscape will sustain a strong growth trajectory during the next five years. Two drivers will fuel this momentum: the increasing acceptance of CX as a formidable competitive differentiation strategy and undeniable incentives for companies to outsource their CX operations. For the third year in a row, improving CX ranked as the number-one business goal among IT decision-makers (N=1,120) who participated in a Frost & Sullivan survey. Organizations across the board now realize that providing a superior CX is imperative for staying relevant in their market. This shift is bringing greater attention and investment opportunities to the CX outsourcing services market. High inflation rates, rising wages, a turbulent future economic outlook, and the growing complexity of running CX operations and achieving optimal results will pressure North American organizations to outsource their CX capabilities. Companies expect continuous process enhancement and rapid innovation. As organizations adapt to changing market conditions, they are looking to partner with nimble CX service providers (CXSPs) to accelerate time to market. The right mix of people, processes, and technologies is the key to success and will help providers deliver reliable and agile transformation capabilities to their clients. In a highly fragmented market composed of more than 200 organizations, Frost & Sullivan independently plotted the top 18 companies in this Frost Radar™ analysis. The analysis is based on a set of 10 criteria related to Growth and Innovation, as follows: Growth index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user-focused sales and marketing strategies. Key elements of this index include: GI1: Market Share (previous 3 years) GI2: Revenue Growth (previous 3 years) GI3: Growth Pipeline GI4: Vision and Strategy GI5: Sales and Marketing Innovation index (II) is a measure of a company’s ability to develop products/services/solutions that are developed with a clear understanding of disruptive Mega Trends, are globally applicable, are able to evolve and expand to serve multiple markets, and are aligned to customers’ changing needs. Key elements of this index include: II1: Innovation Scalability II2: Research and Development II3: Product Portfolio II4: Megatrends Leverage II5: Customer Alignment The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Sebastian Menutti
More Information
Deliverable Type Frost Radar
Author Sebastian Menutti
Industries Information Technology
No Index No
Is Prebook No
Podcast No
Predecessor K69F-01-00-00-00
WIP Number K844-01-00-00-00