CLEVELAND, September 22, 2022 /PRNewswire/ — Contact centers have been forced to be more agile in response to the COVID-19 pandemic, with timelines for technology adoption, remote work, and omnichannel client engagement going up, according to an industry report released in February by the Business Services investment banking team. Brown Gibbons Lang & Company (BGL).
Read Business Services Insider – Pivot in the Mid-Game: Contact Center Industry Adapting Quickly to Market Forces: https://bit.ly/BusServInsider
The report examines emerging trends as well as the current state of the contact center M&A market, where consolidation continues in a fragmented environment.
- Technology is transforming customer service. The move to the cloud has made artificial intelligence (AI), machine learning, and predictive analytics more practical and accessible. Organizations are investing in AI capabilities that directly contribute to enhanced customer experience (CX), cost savings and operational efficiency.
- Customer needs and expectations are constantly evolving and engagement levels are increasing rapidly, and an omnichannel service approach is now expected to deliver a seamless, harmonious and personalized customer experience. Focused on providing ever-improving levels of customer service, the contact center is now seen as a critical component of maintaining and increasing brand loyalty, rather than a necessary cost of doing business.
- Working from home is a lasting change in service delivery that promotes higher employee and customer satisfaction while reducing operating costs.
- As technology transforms customer experience solutions, it also impacts high-demand digital priority service platforms and mergers and acquisitions. Acquisitions remain the primary leverage for value creation as buyers seek to increase digital capabilities and diversify industry verticals and geographic markets. The proposed merger and acquisition of Sitel Group and Majorel by WNS (Vuram) and Teleperformance (Senture) are examples of recently announced strategic transactions. Bain Capital (VXI Global Solutions) and ChrysCapital (ResultsCX) are among the private equity sponsors to establish growth platforms in the call center space.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The Firm advises private and public entities and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic issues. BGL has investment banking offices. Chicago, Cleveland, angelsand new Yorkand real estate offices Chicago, Clevelandand Saint Anthony. The company is also a founding member of Global M&A Partners, which enables BGL to serve customers in more than 30 countries around the world. Securities transactions are conducted by Brown, Gibbons, Lang & Company Securities, Inc., a subsidiary of Brown Gibbons Lang & Company LLC. and through a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
SOURCE Brown Gibbons Lang & Company