CLEVELAND, September 22, 2022 /PRNewswire/ — Contact centers have been forced to become more agile in response to the COVID-19 pandemic, escalating timelines for technology implementation, remote work and omnichannel customer engagement, according to an industry report released by the Business Services investment banking team of Brown Gibbons Lang & Company (BGL).
Read Business Services Insider – The Mid-Game Pivot: Contact Center Industry Adapts 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 care. Cloud migration has made artificial intelligence (AI), machine learning and predictive analytics more practical and achievable. Organizations are investing in AI capabilities contributing directly to improved customer experience (CX), cost savings and operational efficiency.
- Customer needs and expectations are constantly evolving and interaction levels are increasing rapidly, and an omnichannel service approach is now expected to deliver a seamless, cohesive and personalized customer experience. By focusing on providing ever-improving levels of customer service, the contact center is now seen as a critical component in maintaining and increasing brand loyalty, rather than a necessary cost of doing business.
- Working from home is a permanent change in service delivery, promoting higher employee and customer satisfaction while reducing operating costs.
- As technology transforms CX solutions, it is also impacting M&A activity, with digital service platforms in high demand. Acquisitions remain a key driver of value creation as buyers seek to increase digital capabilities and diversify industry verticals and geographic markets. The proposed merger of Sitel Group and Majorel and the acquisitions 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 sponsors to create growth platforms in the contact 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 corporations and equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, The angelsand new Yorkand real estate offices in Chicago, Clevelandand Saint Anthony. The firm is also a founding member of Global M&A Partners, enabling BGL to serve clients in more than 30 countries worldwide. Securities are traded through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
SOURCE Brown Gibbons Lang & Company