GBS WORLD NEWS | WEEK 2 | JULY 2023

In Ethiopia, more than 10 companies have amalgamated to establish the Ethiopian Outsourcing Association. The group, aiming to position Ethiopia as a top outsourcing destination, believes that they will be able to generate more quality jobs and boost the economy. The association plans to implement marketing strategies to attract foreign investment, and they will also engage with government to shape policies.

Business process outsourcing (BPO) workers in Bangladesh are experiencing extreme levels of exhaustion and stress due to mass power outages during an unprecedented heatwave. An employee at Dhaka-based outsourcing firm Datacrete reported that workers were struggling to stay awake and alert at work. While the office reportedly had a generator, workers were unable to sleep at night at their homes due to rolling blackouts (as long as 10 hours at a time). This meant they had no means to cool themselves when temperatures were at 40.6° Celsius (105° Fahrenheit).

Alterian, customer-journey orchestration giant based in Denver, has launched an AI-driven platform expected to redefine customer journey analysis and measurement. The platform, Journey Discovery, will provide teams with important data to support CX decision-making. Key benefits include tracking the steps customers take when navigating their journey, prioritizing valuable CX initiatives based on AI insights, and building visualizations and dashboards, among others.

Global staffing firm Randstad has announced its acquisition of Grupo CTC in Spain. The acquisition, valued at €80.5 million, is expected to strengthen the company’s position as a key player in the provision of outsourced industrial, logistics, and sales and marketing services in the region. Grupo CTC, providing these services, generated €230 million in revenue last year, and operates from 14 regional offices across Spain and Portugal.

Loanspark, a business lending-as-a-service (LaaS) provider, has extended its services to Canada. The expansion aims to uphold the company’s mission of broadening its lending marketplace to B2Bs across North America, ensuring continued growth and reach. Canadian customers can now be offered key programs, including fixed-term loans, lines of credit, and commercial real estate loans.

Globally, the business process-as-a-service (BPaaS) market is estimated to be valued at US$ 110.7 billion by 2028. This would secure a growth rate of 9.16% (CAGR) over the next five years. These estimates were published in a report by global market research company IMRAC Group. The report outlines growth forecasts, market share, size, and trends in the sector, and provides competitor and regional analyses across the market.