Teleperformance Applauded by Frost & Sullivan for Its Market Leadership in the European Customer Experience Outsourcing Services Industry
The company moves beyond cost and labor arbitrage to transform operations, differentiate, and enhance its services with CX solutions.
SAN ANTONIO, Aug. 29, 2022 /PRNewswire/ -- Recently, Frost & Sullivan researched the European customer experience outsourcing services industry and, based on its findings, recognizes Teleperformance (TP) with the 2022 Europe Market Leadership Award. The company increases the uptake of automation and the integration of tech-based solutions to enhance customer experience. Addressing challenges, such as cost pressure and the rising complexity faced by front-line advisors, TP embraces a machine-first and self-service approach, integrating front- and back offices to turn cost centers into revenue-generating sites. With connected devices increasing the volume of digital interactions, TP adopts automation and data analytics to gain relevant insights. Automation reduces delays by deflecting voice to self-service channels, leading to faster inbound call resolution.
TP deploys intelligence to augment the capability of advisors and drive customization of outbound calls to avoid irrelevance. Automation, omnichannel capabilities, and predictive analytics enable the company to quickly and efficiently assist the end-user, anywhere and anytime, enhance responsiveness, and, most importantly, improve agent engagement and empathy (which boosts all other metrics). The outsourcer provides nimble solution designs to evolve and retain relevance because cloud-native start-ups are agile and flexible. It balances technology disruption with value to take the lead in a rapidly commoditizing market as it succeeds in differentiating products and developing services and pricing models in collaboration with clients.
According to Riana Barnard, a Best Practices research analyst for Frost & Sullivan, "Teleperformance has provided customer experience and digitally-integrated business services for leading brands across the globe since 1978. Today, the company has the industry's most prominent geographic footprint and serves more than 170 markets in 88 countries."
TP, the leader in omnichannel customer experience (CX), offers a comprehensive portfolio of digital transformation solutions, leveraging its proprietary deep-learning technology and a diverse workforce to engage with customers in over 265 languages across various verticals. TP's high-tech/high-touch approach brings together the experience and best practices of its entire employee base, using analytics, automation, platforms, and consulting to drive innovation and enable CX disruption. During the past three years, TP invested heavily in a comprehensive cybersecurity program to protect its entire business ecosystem, including clients, customers, and employees. Owing to these strategic investments, characterized by service differentiation and exceptional delivery standards, TP expanded its trust and safety capacity from 100 to over 12,700 agents at 33 sites across 28 countries.
"Aiming to find the balance between technology innovation and human touch, Teleperformance collaborates closely with clients to map a digital transformation journey and agree on progress calibration and measurement. It also streamlined its internal processes and operational business to gain efficiencies and reduce costs," said Barnard.
TP leverages cloud technology to enhance customer experience. During the COVID-19 pandemic, the company rapidly deployed home-based agents in service areas worldwide. Utilizing analytics and research-driven insights to improve CX, TP's Transformation TAP™ team leverages high potential sector expertise and digital and omnichannel integration. With its outstanding financial performance, superb growth strategy execution, potential value in existing client relationships, wallet share growth, and cross-pollination opportunities, TP earns Frost & Sullivan's 2022 Europe Market Leadership Award in the customer experience outsourcing services industry.
Each year, Frost & Sullivan presents this award to the company that develops an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, raises customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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Teleperformance (TEP – ISIN: FR0000051807 – Reuters: TEPRF.PA - Bloomberg: TEP FP), a leading global group in digitally integrated business services, serves as a strategic partner to the world's largest companies in many industries. It offers a One Office support services model combining three wide, high-value solution families: customer experience management, back-office services and business process knowledge services. These end-to-end digital solutions guarantee successful customer interaction and optimized business processes, anchored in a unique, comprehensive high tech, high touch approach. The Group's 380,000+ employees, based in 83 countries, support billions of connections every year in over 265 languages and over 170 markets, in a shared commitment to excellence as part of the "Simpler, Faster, Safer" process. This mission is supported by the use of reliable, flexible, intelligent technological solutions and compliance with the industry's highest security and quality standards, based on Corporate Social Responsibility excellence. In 2020, Teleperformance reported consolidated revenue of €5,732 million (US$6.5 billion, based on €1 = $1.14) and net profit of €324 million. Teleperformance shares are traded on the Euronext Paris market, Compartment A, and are eligible for the deferred settlement service. They are included in the following indices: CAC 40, CAC Support Services, STOXX 600, S&P Europe 350 and MSCI Global Standard. In the area of corporate social responsibility, Teleperformance shares are included in the CAC 40 ESG index, the Euronext Vigeo Eurozone 120 index, the FTSE4Good index and the Solactive Europe Corporate Social Responsibility index (formerly Ethibel Sustainability Excellence Europe index).
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