The customer experience (CX) outsourcing services market has undergone a significant shift in the last few years. The market in Europe is characterized by demand for specific languages, small regional sectors, different requirements unique to certain countries, and increasing demand for nearshoring.
Evolution in the outsourcing industry has led to a shift as companies now focus less on factors such as cost, labor arbitrage, cold calls, and linear and inept approaches to handling incoming calls, and more on CX. The increasing focus on customer experience (CX) in the last five years has led to greater adoption of technology. As client and customer demands evolve, outsourcers are launching intelligent, automated, and self-service options to enhance CX. Technology-enabled solutions are being deployed to improve agent performance. Platforms, conversational AI, and bots are some of the technology-enabled outcomes helping outsourcers to create better experiences and improve customer satisfaction.
The new approach to CX comes with its own set of challenges, such as data privacy and security, integration with legacy systems, and balancing technology and value derived from investments. Outsourcers, however, are pursuing technology adoption in their attempt to add value and create better customer experiences.
The recent COVID-19 pandemic has disrupted the market and companies had to launch measures within a few weeks to deal with unprecedented government coping and containment mechanisms. The publisher expects a negative growth in 2020 in the market. If this situation starts to reverse by the year-end, the market is expected to be back on a growth track in 2021.
This research will outline:
The CX services outsourcers ecosystem and services
The digital transformation of CX outsourcing services
Technology-enabled solutions deployed to enhance CX
CX outsourcing services market analysis
Growth opportunities for outsourcers
The report is illustrated with several examples indicating the approach of outsourcers to enhance CX using technology-enabled solutions.
Access to customer data requires outsourcers to deploy adequate security measures. Clients are at different levels of awareness of how technology can contribute to enhancing CX. Outsourcers are increasingly assuming the role of consultants and guiding clients on how they can deploy solutions and improve customer satisfaction.
COVID-19 has brought business continuity into focus and outsourcers' capabilities have been put to the test. Moving beyond traditional offerings, outsourcers must focus on partnering and expanding its ecosystem to adopt and enable flexibility and innovation strategies.
Key Issues Addressed
What are outsourcers doing to digitally transform CX?
What are some of the key recent developments that indicate outsourcer strategies?
What are the key market and vertical metrics?
What are the growth opportunities that outsourcers can take advantage of?
What are the key takeaways?
Key Topics Covered
1. Executive Summary
2. CX Outsourcers Ecosystem and Services
Scope of Research
CX Outsourcers Approach Clients with Transformation Solutions
Business Panorama - Outsourcers' Perspective
Business Panorama - The Client Perspective
Key Business Variables in Europe - Scenario Analysis and Forecast
3. Digital Transformation of CX Outsourcing
Digital Transformation of CX Outsourcers
Diverse Demands from Customers Across Europe
IoT - Enabled Capabilities to Address CX Challenges
Analytics - Enabled Capabilities to Address CX Challenges
ML/AI - Enabled Capabilities to Address CX Challenges
Blockchain - Enabled Capabilities to Address CX Challenges
Technologies Development Timeline and Estimated Implementation
4. CX Outsourcing Solutions
Outsourcers Harness RPA to Enhance QoS (Speed of Response, Resolution Rate, Precision of Information)
Outsourcers Implement NLP to Route and Analyze Customer Calls
Outsourcers Implement Speech Analytics
Outsourcers Use Predictive Knowledge-based Solutions to Enhance Next Best Action
Digital Transformation Potential
5. Market Drivers and Restraints
Market Drivers Discussed
Market Restraints Discussed
6. CX Outsourcing Market Analysis
Market Size Discussion
Recent Developments - Investments
Recent Developments - Mergers and Acquisitions
Recent Developments - Partnerships
Risks to Digitalization of CX in Europe
Revenue Percentage of Verticals
7. CX Outsourcing Service Provider Profiles
Bosch Service Solutions
Sutherland Global Services
8. Growth Opportunities and Companies to Action
Growth Opportunity 1 - Cybersecurity
Growth Opportunity 2 - Consulting and Design
Growth Opportunity 3 - Beyond Legacy Systems
Growth Opportunity 4 - Solutions for Digital Native Consumers
Growth Opportunity 5 - Business Continuity as a Service