Friday, October 2, 2020
News
NEWS HOME
»
PRN INDIA
Customer Experience Outsourcers Launch Intelligent and Self-service Options to Improve Business Outcomes in Europe
  SocialTwist Tell-a-Friend  
   

Outsourcers integrate advanced analytics, artificial intelligence, and machine learning to improve the customer journey and agent experience, finds Frost & Sullivan

SANTA CLARA, California, Aug. 5, 2020 /PRNewswire/ -- Frost & Sullivan's recent analysis, European Customer Experience Outsourcing Services Market, 2020, reveals that outsourcers are increasingly relying on advanced technologies to meet client requirements in the customer experience (CX) outsourcing services industry. The European market is mature and characterized by demands for specific languages, cultural affinity, and nearshoring. COVID-19 has adversely affected the industry in 2020 and Frost & Sullivan expects total market revenue to reach €16.23 billion, a 7.5% decline. Outsourcers, however, display exceptional agility and flexibility when meeting the business continuity challenge. Assuming a reversal of fortune in the next 3 to 4 months, Frost & Sullivan expectsthe market to recover to €20.03 billion by 2024. To stay relevant in the rapidly evolving market, outsourcers must develop new tools to address digitally native customers, cybersecurity challenges, and business continuity as a service.          

For further information on this analysis, please visit: http://frost.ly/49w

"By integrating advanced analytics, artificial intelligence, and machine learning, outsourcers transform the customer journey. Offering customized, automated, and self-service solutions, outsourcers have moved beyond cost and labor arbitrage to instead focus on seamless, omni-channel, value-added experiences," said Deepali Sathe, Information & Communication Technologies  Senior Industry Analyst at Frost & Sullivan. "Customers have evolved and expect intelligent interactions and immediate responses. True partnerships developing between clients and outsourcers will enhance the agent experience, mitigate complexity, and encourage empathy."

Leonardo Sampieri, Information & Communication Technologies Industry Analyst at Frost & Sullivan, added, "Sectors such as telecom, banking, financial services, and insurance (BFSI),   and travel and hospitality will see the most changes and will need service providers to help them drive a digital transformation in CX. Healthcare is an area of fast growth, and with COVID-19, the vertical is expected to see rapid growth across Europe that significantly affects outsourcers."

Some of the other areas of focus that can help outsourcers gain competitive advantage are:

  • Cybersecurity and customer trust:  European customers in particular are more concerned about data privacy. To enhance CX, companies need to strike a balance between user friendliness and effectiveness.
  • Personalization: Utilize technology and expertise to enhance CX outcomes with customization. CX reflects the effectiveness of operational excellence and outsourcers must integrate technologies that enable better management of customer sentiments.
  • Partnerships: Focus heavily on partnering and expanding the ecosystem. Thinking beyond products and services to identify other important parameters to differentiate in a rapidly commoditizing market will require a flexible and innovative strategy.  
  • Portfolio diversification:  Outsourcers that cater to the diverse requirements of specific verticals will enjoy immense growth prospects, as it adds another dimension to the overall value proposition and extends ease of deployment.

European Customer Experience Outsourcing Services Market, 2020 is the latest addition to Frost & Sullivan's Information & Communication Technologies research and analysis available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action. This results in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

European Customer Experience Outsourcing Services Market, 2020
K473-65

Media Contact:

Srihari Daivanayagam
Corporate Communications
M: +91 9742676194; P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com

http://ww2.frost.com/

More News by PR Newswire India

PolyU launches the first dedicated interdisciplinary master programme in medical physics to nurture future clinical and academic talents in the field

New NCCN Resource for Understanding Childhood Leukemia

104 episodes of animated series Dabangg from Cosmos-Maya to launch on Disney+ Hotstar VIP

Blue Blocks Montessori School files a record 5 patents for student Inventions in Drones

Nuvoco launches 'Artiste Signature Collection' in association with Gauri Khan Designs and International Designs

Resilient Cities Network focuses its new city-led entity on strengthening cities capacity to recover from COVID-19 and build a safe and equitable world

Frost & Sullivan Recognizes Xenex with 2020 Global Company of the Year Award; LightStrike Robots Dominate Healthcare Room Disinfection Devices Market

Three corporate stalwarts; Sanjay Kaul ex Country Head Apple India, Ajay Kaul ex CEO - Jubilant Food Works, India, Mukesh Kachroo ex CTO - Gain Capital, USA set to launch a Digital Platform to Preserve and Promote Kashmiri Pandit Culture

Johnson & Johnson Initiates Pivotal Global Phase 3 Clinical Trial of Janssen's COVID-19 Vaccine Candidate

QS Business Masters Rankings 2021 - Revealed: the specializations most in-demand among employers around the world

OrbusNeich® Announces China Approval for COMBO® Coronary Stent

Former HSBC Group COO Andy Maguire joins Thought Machine as new Chair

FDI World Dental Federation and Smile Train: Children with clefts are at high risk for tooth decay, gum disease and other serious oral health concerns

LONGi wins first order to supply 103 MW of Hi-MO 5 modules for TBEA's production base in Xinjiang

Clarivate Reveals 2020 Citation Laureates - Annual List of Researchers of Nobel Class

iHerb Meeting Increased Worldwide Demand for Vitamin D and C

"Jim Murray's Whisky Bible 2021" Matsui Whisky awarded "Best Japanese Single Cask Of The Year 2021"

Next-generation Wireless Business Support Systems to Enhance Digital Efficiency for Communication Service Providers

Lebenor Launches Halcove Touch Free Buttons to make Elevators safe to travel

Annova Solutions Helping Client's Journey with Dedicated Teams Working on Industry-specific Labels

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Goa govt launches initiative to make vil...
Shocking, say Muslim leaders on Babri de...
Mathura court dismisses Sri Krishna Jana...
EC team visits Patna to observe Bihar po...
IDFC First Bank MD gifts Rs 30-lakh shar...
Pak violates ceasefire on LoC for 7th st...
More...    
 
 Top Stories
Serverless Amazon Timestream databa... 
SC notice on PIL by seafarers for t... 
'Better off households in J'khand b... 
NCPCR takes cognizance of sexual as... 
Delhi's air quality to turn 'poor' ... 
LG tipped to deliver best Q3 earnin... 
Detention of Rahul, Priyanka illega... 
BharatPe aims Rs 1,000cr in loan di...