GBS WORLD NEWS | WEEK 2 | APRIL 2022
Despite the conflict in Ukraine, buyers of IT outsourcing (ITO) services still see Eastern Europe as a hub for IT services, according to an iLounge article. A highly educated talent pool, time zone proximity, cultural affinity and affordability are some of the main attractions for nearshore and offshore buyers allocating work to Eastern European ITO operators. In particular, Poland, the Czech Republic, Ukraine, Hungary, Romania and Bulgaria are ideal for software development outsourcing.
New York FinTech company, Raistone, has partnered with multinational financial services company, Mastercard, to enhance business-to-business (B2B) financing. The collaboration aims to streamline B2B finance payments and accelerate working capital for small- and medium-sized businesses (SMBs), using Mastercard’s virtual card technology. With the help from Mastercard, Raistone will be able to speed up the finance approval process, which often excludes SMBs from accessing the finance they need to scale their businesses.
Another financing process is being enhanced, this time in Malaysia, where Razer Merchant Services (RMS), a leading payment gateway, will be integrating Alipay+ solutions to expand its merchant offerings. More than 60,000 online and offline RMS merchants across Malaysia’s retail, business and food and beverage sectors will adopt Alipay+. The solution will enable the processing of cross-border payments made by a wider range of global e-wallets and mobile bank apps. As such, they will gain access to over one billion global consumers with one single technical solution.
Canadian telecommunications company, Bell Canada, has achieved the largest reduction in consumer complaints among national providers, according to Commission for Complaints for Telecom-television Services (CCTS) 2021-2022 mid-year report. Between August 2021 to January 2022, Bell reduced customer complaints by 36%. Around 13% of Bell’s overall share of complaints were dissolved, reducing its share for the seventh year in a row.
Africa is emerging as the new frontier for digital native consumers, unlocking revenue growth opportunities for African digital-native companies, according to Engineering News. The continent’s internet economy is estimated to reach $180 billion by 2025, with a total population expected to grow from 1,3 billion to 2,5 billion by 2050. Digital native companies will be more suited to meet the demands of digital-born customers, as they share many characteristics with their customers and thus will attain the lion’s share of potential revenue.
The global customer experience management market is projected to grow from US$9,5 billion in 2021 to US$16,9 billion by 2026, achieving a compound annual growth rate (CAGR) of 12.3% during the forecast period, according to the 2021 Customer Experience Management Market Report. The primary market drivers include the increasing need to improve customer engagement and reduce customer churn rates, the need for a better understanding of customers and the use of customer-related scores to plan a better customer engagement strategy.