GBS WORLD NEWS | WEEK 3 | DECEMBER 2022
South Korean automaker, KIA, has warned dealerships in the US about poor customer experience (CX) performance in response to being ranked last out of 16 other major automakers in a customer sales satisfaction study by J.D. Power. The report gathered data from 37 000 consumers, asking them to share their experiences with various steps in the dealership process. However, neither Kia’s leadership team nor its retail body can pinpoint why performance has been subpar.
Meanwhile, Indian-based global professional services firm, Genpact, has earned the rank of a Leader in Everest Group’s inaugural Digital Platform and Augmentation Suite (DPAS) in the Insurance Business Process Services (BPS) PEAK Matrix Assessment 2022. The report evaluates 15 insurance BPS providers based on their relative positioning in terms of service focus, key intellectual property solutions, domain investments and case studies. Genpact was recognized for delivering crucial streamlining and contactless service technology that optimizes functions across the insurance value chain.
Speaking of insurance, a report available on Market Reports World reveals that the global insurance business process outsourcing (BPO) market is expected to expand at a CAGR of 3.93% between 2021 and 2027, growing from US$7,7 billion in 2021 to US$9,7 billion in 2027. Some of the major companies mentioned in the report include Infosys, EXL Services Holdings, Genpact, WNS Holdings and Wipro.
Over in the UK, Capita, another global BPO firm, delivered their adjusted revenue growth of 2% in the 11 months to 30 November 2022. As businesses have continued to recover from the COVID-19 pandemic, Capita has recorded a stronger balance sheet. This is due to various positive financial factors, such as the inflow of £462 million in disposable proceeds and the repayment of £221 million of debt maturities during 2022.
Canadian financial services group, Western Financial Group Insurance Solutions (WFGIS), has demonstrated further commitment to CX by hiring Lisa Colangelo as Chief Customer Experience Officer. Colangelo has a depth of experience in the banking industry, previously serving as senior vice president for retail banking at Coast Capital Savings, where she was responsible for 52 branches and over 500 employees. Additionally, Colangelo directly supervised seven directors.
There was some positive news emerging from the US with the announcement of Michael Thigpen taking the reigns as SVP of Channel Partnerships for ibex, a global provider of BPO solutions. Thigpen’s responsibilities will include developing and expanding ibex’s worldwide channel strategy and engagements. Thigpen has spent more than a decade in various BPO business operations roles, including IT Technical Account Manager, Sales Operations, Project Management and Technology Partnerships.
In general news, the Middle East and African (MEA) customer communication management market is expected to expand from US$63,41 million in 2022 to US$101,84 million by 2028, growing at a CAGR of 8.2% during the forecast period, according to a report compiled by The Insight Partners. A key driver of growth lies in new customer communication features and technologies, such as Natural Language Processing (NLP), being deployed in emerging markets and subsequently attracting new buyers from global markets.
Please note that this is the last weekly news post until the second week of January 2023, as workers of GBS.World happen to be remote-working elves from the North Pole and will be busy during the festive season. Just kidding! 😉
To all our readers, Wishing You a Very Happy Holiday period!