GBS WORLD NEWS | WEEK 1 | FEBRUARY 2024

GBS WORLD NEWS | WEEK 1 | FEBRUARY 2024

Additional investment and expansion plans in Africa were announced this week from Cairo, Egypt, where VXI Global Solutions, a global BPO provider, is launching a CX delivery center. The new center, opening by March 2024, will create 500 jobs for the industry, with aims to tap into Egypt’s skilled talent pool and foster economic growth. The 47 000 square feet center will provide multi-channel support in over 14 languages.

Journeycall – a call center in Arbroath, Scotland – is creating 100 jobs following a four-year contract with Transport for London. The roles will involve providing phone and email support for Transport for London’s contact payment cards scheme. The new jobs will be split between call centers in Arbroath and Hull. Journeycall’s parent company, ESP Group, has been involved with the scheme for over 18 years.

In New York, recruitment-outsourcing solutions provider, Page Outsourcing, achieved a significant milestone in diversity, equity, and inclusion (DEI) by securing 67% diverse hires for Tapestry, one of its key clients. This success was attributed to a multifaceted approach involving the identification of non-traditional channels, revamping the interview process for candidate friendliness, and training hiring managers. Page Outsourcing’s DEI strategy earned it the HRO Today Association North America Award for DEI Excellence.

Japanese-based IT outsourcing company Fujitsu is facing scrutiny, following a senior executive’s recent recognition that the firm has a “moral obligation” to help compensate victims of the 2015 UK Post Office IT scandal. In the scandal, due to server problems, over 3,500 sub-postmasters were incorrectly depicted as having cash shortfalls and were wrongfully accused of committing fraud. Over 900 of these victims faced criminal charges, with many being imprisoned. However, despite Fujitsu acknowledging its “moral obligation” to help victims, the company continues to profit from IT outsourcing contracts, including those with the Canadian government.

New-York-based engagement-banking platform ATTUNE, formerly Lendsmart, has successfully closed a seed fund valued at over US$2.2 million, led by Tribeca Early Stage Partners with contributions from CastleCreek Launchpad, ICBA, and Mike Roffler. The funding will support ATTUNE’s transformation, enabling the provision of digital solutions for financial institutions to intelligently engage with customers. The funds will accelerate the company’s growth, expanding its team and market presence.

Globally, organizations are putting $3.7 trillion annually at risk due to bad customer experiences, an increase of approximately $600 billion (19%) compared to projections from last year. This is according to new research from the Qualtrics XM Institute. Consumers say they have very negative experiences with organizations 14% of the time across 20 different industries including fast food, parcel delivery services, auto dealers, and airlines. And after a negative experience, consumers reduce or stop spending with that brand more than half the time (51% of negative experiences).

According to a recent report from global markets research store Research and Markets, the global General and Administrative Outsourcing market is projected to reach US$10.8 billion by 2028, with a 7.8% CAGR. Fueled by the demand for affordable labor markets and overhead cost reduction, the report highlights the strategic use of outsourcing in streamlining core competencies. Finance and Accounting Outsourcing (F&AO) is a significant market segment, particularly within the BFSI sector. Key trends noted in the report include the integration of technologies like robotic process automation, AI, and machine learning.

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