GBS WORLD NEWS | WEEK 4 | MAY 2022
A leading independent Moroccan customer experience (CX), business process and medical outsourcing provider, Outsourcia, has confirmed a majority stake in its business has been acquired by SPE Capital, an independent equity firm focused on the Middle East and Africa region. Amounting to US$33 million, the deal will see SPE Capital taking over from AfricInvest, which has contributed both financially and strategically to the company’s development since 2016.
Another notable acquisition took place in France, whereby UserZoom, a leading User Experience (UX) insights systems provider, has acquired Testapic, a French UX insights company. The purchase will boost UserZoom’s delivery capabilities with higher quality user insights they need to build exceptional digital experiences. Testapic is renowned for its innovative approach to sourcing and providing research expertise, which will now be leveraged by UserZoom.
US-based business process outsourcing (BPO), Seibels, has announced the appointment of Laura Spells as the new Vice President of Accounting and Financial Services, as well as Treasurer. The leadership role entails overseeing the company’s accounting, audit, finance and treasury management activities. Bringing over two decades of broad-based accounting experience, including building and leading successful finance teams, Spells was the obvious choice to take the position.
Across the border in Canada, one of the world’s largest global CX technology and services providers, TTEC, has been certified as a Great Place to Work® for a second consecutive year. Conducted by Great Place to Work Institute® Canada, the certification is based on feedback from over 300 employees as part of an extensive and anonymous survey about their workplace experience.
Tax authorities in the Philippines have commenced checking on compliance with the 100% return-to-workplace rule among BPO firms who had decided to retain their COVID-19-related tax benefits. The local Bureau of Internal Revenue (BIR) is on a campaign to collect monthly income tax from BPOs whose workforce will fall short of the full-capacity requirement beginning in April. This comes after tax breaks were given to BPOs operating within economic zones that had work-from-home (WFH) policies during the pandemic.
The global legal process outsourcing (LPO) market is currently valued at US$11,61 billion and is projected to reach US$61,71 billion by 2027, achieving a staggering compound annual growth rate (CAGR) of 30.50%, according to IMARC Group’s 2022 Legal Process Outsourcing Market Report. Some of the key factors driving growth in the LPO market include the rising need for legal drafting, the addition of industry regulations around cyber tax and intellectual property and improved efficiencies due to the integration of artificial intelligence (AI) tools in non-complex LPO services.