BPO Outsourcing White Paper - August 2008
“Outsourcing the Customer Experience”
Global Business Process Outsourcing (BPO) is expected to grow 10% each year from $140 billion in 2005 to over $220 billion by 2010. (Source: Logica CGM Study)
Organizations across North America and Europe continue to ‘Right-Shore” their services for several reasons. Companies today are realizing that in order to remain competitive in the marketplace, they must focus on their core competencies and excel at what their business is about. At the same time, importance must be placed on improving and building their brand awareness through strategic channels, such as the contact centre.
The Contact Centre is no longer being viewed as an “island”, but rather an integral part of the customer “life cycle”. Given this shift in thinking, executives are burdened with making a critical decision to outsource, and potentially ‘off-shore’, while keeping in mind:
- It costs six times more to sell to a new customer than to sell to an existing one. Customer retention is of paramount importance. “How do I ensure my off-shore provider has the capability to mitigate this risk?”
- A company can boost its profits 85% by increasing annual retention by 5%. In a competitive landscape, customer loyalty is getting tougher to earn. “How do I assess the quality standards of my partner without impacting the customer experience?”
Companies that leverage their contact centre service channel as a strategic asset know that the associated benefits prove to be substantial. Understanding that the contact centre has the potential to drive profit through cross-selling and up-selling campaigns and can reduce customer attrition is critical. It’s no wonder then, that astute organizations are becoming extremely cautious when “outsourcing the customer experience”.
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