Focusing on Efficiency Amidst Change
Enterprises around the globe are continuing to embrace contact center outsourcing, driven by a dual pursuit of cost savings and technological advancements, even as the yearly value of service contracts sees a decline. The latest report by Information Services Group (ISG) reveals a progressive shift in the industry, wherein despite a drop in the annual contract value from $1.2 billion in the first half of 2023 to $0.8 billion in the first half of 2024, the number of contracts surged. This aligns with the broader BPO market trend, showing a return to pre-pandemic demand levels after experiencing a remarkable growth phase in 2022 and early 2023.
The Dawn of Technological Integration
As the realm of customer service technology undergoes rapid evolution, spotlighting advancements such as cloud computing and artificial intelligence, companies are now blending their internal IT infrastructures with BPO providers’. This gradual integration is a response to the increasing recognition among enterprises of the necessity for comprehensive solutions that amalgamate technology, workforce proficiency, and streamlined processes.
The Rise of GenAI in Contact Center Operations
Undeniably, the contact center sector stands out as a frontrunner in adopting generative AI (GenAI), with several applications either already operational or undergoing advanced testing phases. Noteworthy benefits afforded by GenAI encompass swifter query resolutions, enhanced first-call issue resolution rates, reduced errors, and elevated levels of customer and employee satisfaction. The implementation of GenAI ranges from assisting bots supporting agents to more sophisticated utilities like customer self-service bots and real-time language translation.
Unveiling the Potential of AI Expansion
Hand in hand with the widespread integration of AI across various operational facets, many enterprises are actively pursuing strategy consulting services to optimize AI technologies effectively, driving substantial return on investment. Through transformation frameworks and assessments, companies are elevating their contact center operations to align with industry best practices and maximize their technological maturity.
A Glimpse into the Future
The ISG Provider Lens™ report delves into additional developing trends within contact center and customer experience domains, highlighting the growing prominence of unified workforce management and the emergence of tailored agent training content.
For the full report and detailed insights on the evolving customer experience challenges in the enterprise landscape, alongside expert recommendations provided by ISG, access the ISG Provider Lens™ Focal Points briefing here.
The 2024 ISG Provider Lens™ report scrutinizes the operational capabilities of 32 service providers across three primary quadrants: Digital Operations, Intelligent Agent Experience, and Intelligent CX (AI & Analytics).
In a significant nod to industry leaders, Foundever, Genpact, HGS, Sutherland, Teleperformance, Transcom, and WNS have been distinguished as Leaders across all three quadrants. Additionally, Atento, Cognizant, Movate, and TTEC clinched leadership positions in two quadrants each, whereas Concentrix, Conduent, and Tech Mahindra featured as Leaders in one quadrant each.
Moreover, Firstsource, Hexaware, IGT Solutions, and Startek garnered recognition as Rising Stars, denoting companies with a standout portfolio and promising future potential in a single quadrant each.
Honoring Excellence in Customer Experience
In the domain of customer experience, HCLTech takes center stage by being heralded as the global ISG CX Star Performer for 2024 among contact center service providers. Garnering top scores in customer satisfaction via ISG’s Voice of the Customer survey, HCLTech secures a prestigious rank through the ISG Star of Excellence™ program, acclaimed as a pinnacle of quality recognition within the technology and business services industry.
Customized versions of the report are available from Foundever, HGS, Movate, and others.
Exploring ISG Provider Lens with WNS
The realm of global customer experience services saw a significant upheaval with the unveiling of the revered 2024 ISG Provider Lens™ report. Presenting a treasure trove of insights, this report stands as a beacon of empiricism amid a sea of conjecture.
The Legacy of ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant series is a paragon of meticulous research, seamlessly blending empirical data and market analysis with the seasoned wisdom of ISG’s global advisory cohort. Given its comprehensive coverage of providers worldwide, including prominent markets in Europe and the Americas, the report offers enterprises a compass to navigate the complex terrain of sourcing partnerships.
Delving into ISG Provider Lens™
The ISG Provider Lens research envelops a wide spectrum of services, transcending boundaries in regions such as Europe, the U.S., Canada, and Australia. As the report casts its gaze on additional markets in the near future, the path to informed decision-making seems more illuminated than ever.
The Story of ISG
At the vanguard of technological research and advisory services stands ISG (Information Services Group). With a rich legacy that traces back to 2006, ISG has carved a niche as a trusted ally to over 900 clients worldwide. Specializing in diverse domains ranging from digital transformation to market intelligence, ISG’s global impact is a testament to its unwavering commitment to excellence.
Spanning over 20 countries, ISG’s corps of over 1,600 adept professionals reflects the firm’s ethos of innovation and profound industry expertise. Renowned for its groundbreaking research and unparalleled analytical capabilities, ISG continues to reshape the technological landscape with its comprehensive data-driven approach.
Unveiling the future of customer experience services, the ISG Provider Lens™ report has set the stage for a new era of informed decision-making and strategic partnerships. As enterprises worldwide navigate the ever-evolving landscape of sourcing solutions, ISG and its cohort of visionaries stand poised as beacons of guidance in a sea of uncertainty.
