GBS WORLD NEWS | WEEK 4 | JANUARY 2022
Singaporean digital customer experience solutions provider, TDCX, announced its expansion into South Korea, the company’s fourth new market in two years. The expansion will strengthen TDCX’s Korean language capabilities and increase its market share in the East Asian nation. The company views South Korea as a fast-paced and dynamic market, whose 52 million inhabitants are highly tech-savvy and are among the fastest adopters of new trends.
Three financial services organizations in the US received exciting news of being named winners of the DALBAR 2021 Financial Intermediary Service Award. Goldman Sachs, Pacific Life and Park Avenue Securities were the only three out of 18 financial intermediary organizations that met DALBAR’s high standards to earn this prestigious award. The award, recognized by industry and government, specifically measures the overall quality of telephone support on existing business provided to financial professionals and their staff.
More awards were dished out in the UK where the Institute of Customer Service (ICS) named the Top 10 Rated (UK) Companies for Customer Service with influential pet retailer, Pets at Home, taking the top spot after climbing seven places. First Direct (banks and building societies) and SAGA Insurance (insurance) took second and third place respectively. Other notable achievements included retailer, Timpson, jumping from 127th place to fifth in the rankings.
Top 10 Rated UK Companies for Customer Service. Source: ICS
South Africa’s flagship city of Cape Town reported that the business process outsourcing (BPO) sector created just under 5,000 international jobs in 2021, contributing US$933 million to the city’s economy, according to the City of Cape Town (CoTC). The BPO sector has been earmarked as a priority sector by the city, launching the Cape Skills and Employment Accelerator project in partnership with the National Skills Fund to create employment opportunities for marginalized youth and women.
The global data analytics outsourcing market is expected to achieve staggering gains over the next seven years, growing from its current valuation of US$5,8 billion to US$53,56 billion by 2028, reaching a compound annual growth rate (CAGR) of 32%, according to Fusion Market Research (FMR). Major growth drivers in the market include significant acceptance of mobile devices and social media and large investments in data analytics by organizations.
Staying on the theme of technology, it has been found that businesses using customer experience automation (CXA) expect their revenue to double, according to ActiveCampaign’s 2022 Customer Experience Automation Impact Study. Growth expectations are driven by companies doubling their new leads year over year, with a reported 110% increase in new leads and a 94% increase in conversions compared to the previous year.