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Digital Transformation Proves Challenging Amid Active Service Provider Acquisitions
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The ongoing jostle for preeminence in customer care BPO in the region of North America (NA) is entering an important new phase. Like the original “Great Game” – a foreign policy term associated with the geopolitical machinations of the Great Powers and regional powers vying for geopolitical standing and influence in Central Asia. Dominant market leaders such as Teleperformance, Sitel Group, Qualfon, SYKES, TTEC and Alorica now face the combined strength of the merger of Convergys and Concentrix. Each one of these companies strives to deliver excellent customer care and many have unique outsourcing solutions. South Asia-headquartered players such as Firstsource, Sutherland, HGS and VXi only grow in confidence and aggression. A full listing of BPO Mergers and Acquisitions is included in this study, along with analyst commentary and market observations.The backdrop for this contest also is filled with intrigue. The North American contact center outsourcing market - which is quite mature and fragmented - is being driven by inbound customer care, acquisitions, sales, and technical support. In 2019, customer care outsourcing firms report to Frost & Sullivan that they face a set of key challenges, including the need to contain cost, drive out agent inefficiencies, deliver high quality interactions for clients, infuse artificial intelligence and grow top-line revenues, while still achieving the highest levels of customer satisfaction for clients.This study is divided into two basic sections. Section 1: Forecast Period 2017–2022 by Revenues (U.S. dollars):• Market Definitions• Market Drivers and Restraints• Forecast by Service Platform • Forecast by Industry Vertical• Forecast by Service Function• Forecast by Fulfillment RegionSection 2: BPO Acquisitions (2009–2018), Key Takeaways and Analyst Commentary:• List of Notable BPO Mergers and Acquisitions(M&A)• Key Takeaways• Additional Analyst Commentary on M&AThis section contains analyst commentary on the most important market forces affecting outsourcing trends for 2019. This analysis is based on extensive primary interviews and secondary research. Given the maturity of the North American market, Frost & Sullivan expects that these trends will extend well into 2025. Consumer buying patterns and behaviors are changing rapidly – in ways that were unfathomable a decade ago. Not surprisingly, over that same time span, the BPO value proposition, centered on labor arbitrage, right-shoring, and economies of scale, is being impacted. Long gone is the goal of winning greater wallet share through a lower price per-minute and operational excellence alone. It is no longer acceptable to be viewed as a top choice for cheap seats. Simply put, outsourcers have realized that they must put solutions in-place that affect their clients’ core business – from strategy, operations and processes, to the financial bottom line. As a result, Frost & Sullivan is witnessing considerable investment in internal BPO research and development (R&D). Oftentimes, the result is the birth of new internally developed platforms – unique, robust, sophisticated, and client-focused. In other words, service providers today are investing in new operational processes and solutions mapped to meet the communication needs of the growing army of independent, autonomous self-starters of Gen Y; technology platforms will be key to meeting the complex communication needs of today’s omni-channel consumer. This need for ever more specialized expertise is driving investments in technology by BPOs.Author: Michael DeSalles
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