Services, Customer, Outsourcing, Market
Outsourcing providers struggle with customer services market
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The current wintry economic climate, and the recent spate of bankruptcy proceedings initiated against several large corporations accustomed to outsourcing customer services, diminish the chances of a quick recovery within the outsourced contact services market in North America.
A new analysis from Frost & Sullivan (www.EnterpriseComm.frost.com ), North American Outsourced Contact Services Market, reveals that revenues in this industry totaled $22.00 billion in 2002, and are projected to reach $25.72 billion by 2009.Shrinking service budgets and the need to continue providing high levels of service compel many existing clients to consolidate their outsourcing agencies. Such companies are now resorting to lengthy "request for proposal" (RFP) processes for new projects, thereby hoping to attract more competitive pricing options.
On the other hand, reduced budgets are driving many new companies to seek the services of an outsourcing agency. Such a move enables them to manage customer care as a variable rather than a fixed cost, and frees them from the responsibility of recruiting qualified agents and acquiring the latest technologies.
"The need to do more for less is driving many major companies to outsource customer care services as an alternative to internal expansion," says Frost & Sullivan Industry Analyst Katherine Shariq.
However, the size and complexity of potential projects are such that only the largest outsourcers can tackle them. Increasingly, major corporations are demanding a gamut of services such as the integration of multiple databases and diverse technologies, back-office billing, and procurement and distribution functions.
Agencies that can provide a host of complementary services and forge partnerships with major system integrators will emerge winners. In this competitive market, building a business model aimed at reducing the average interaction time per customer delivers greater satisfaction and generates higher volumes of transaction at lower costs.
"By placing contact centers in English-speaking countries such as the Philippines and India, providers are able to hire highly educated agents and offer lower priced services," says Shariq.
Frost & Sullivan will hold a conference call at 1 p.m. (EST)/ 10 a.m. (PST) on December 4 to provide industry participants key insights on the latest coverage on North American Outsourced Contact Services Markets. To participate, please email Dustin McVey at dmcvey@frost.com with the following information: Name, Company, Title, Telephone Number, and email. Upon receipt of the above information, a confirmation/pass code for the live briefing will be emailed to you.
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