The Outsourcing Week in Review: Tuesday, October 12, 2021

Welcome to Inside Outsourcing: The Outsourcing Week in Review

THE WEEK IN REVIEW

Could Bangladesh be the world’s next big IT outsourcing destination? Its available resources and infrastructure, combined with a highly-skilled tech workforce, could elevate the country into the biggest Information Technology Enabled Service (ITES) provider for foreign companies. According to Foxcatcher IT Solutions, the South Asian nation has grown 40$ since 2010 and currently has over 4,500 software and ITES companies that are contributing to the industry’s estimated value of US$1.1 billion.

Data and analytics company GlobalData said that India’s BPO market is forecasted to reach US$8.8 billion by 2025. Thanks to the government’s support and its liberalized regulatory guidelines, the country can stand out against other competing offshore destinations — including the Philippines, Malaysia, Mexico, and Canada. The population’s expertise in knowledge-based and vertical-specific services and the support of local agencies have also helped in boosting the nation’s overall BPO performance.

The Bharat Connect (TBC) which claims to be India’s only industry community group for outsourced workers celebrated its first anniversary last week. TBC was created during the height of the COVID-19 pandemic to address the growing communication needs of consumers and the high demand for customer service professionals in the country. As part of its celebration, TBC will launch several programs — including virtual and in-person events, research reports on the latest industry trends, and a series of training workshops — for its members.

To promote the use of renewable energy, India’s IT industry organization National Association of Software and Service Companies (NASSCOM) is urging the government to remove the 10% power banking limit placed over the IT-BPO sector. In its letter of suggestion to the Ministry of Power, NASSCOM said that these policies will hinder the companies who intend to use only renewable resources for their operations. Several IT-BPM companies in the country have already committed themselves to use only green energy in their offices. Mother Earth would be happy with this initiative!

And now for some company announcements. Customer care and technology company 24-7 Intouch acquired digital BPO services provider Goodbay Technologies in a move to expand its global footprint and offer diverse service solutions to its clients. Goodbay will work as a subsidiary of 24-7 Intouch, focusing on gaming, mobile app, and consumer technology services. Meanwhile, One Equity Partners (OEP) has sold its ownership of customer experience provider ResultsCX to private equity advisory firm ChrysCapital. With a successful track record of investing in technology services, financial services, pharma, and consumer services, ChrysCapital is confident that this latest partnership will help accelerate the future growth trajectory of their company.

Meanwhile, ContactUS announced the appointment of its new CEO and CIO – as it launches its expansion into the nearshore market. Former Conduit Global executive Robert Bryan will be the company’s new CEO and former Teleperformance tech development leader Will Souder will be its new CIO and Digital Transformation Officer (DTO). Global technology and business services company Avantive Solutions is also expanding its operations – into South Africa.  They are doing this through a new partnership with outsourcing provider Outworx Contact Center. This collaboration is expected to create job opportunities in the city of Durban. It is proposing that it will develop a competitive alternative to other offshore destinations in the world.

Lastly, in the land of the rising sun, BPO giant ​​transcosmos will utilize Avaya’s OneCloud Contact Center as a Service (CCaaS) solution in enhancing the company’s customer experience and agent productivity. Together with Google Cloud’s Contact Centre AI, the Japan-based firm is promising their clients an advanced platform that is the “first of its kind” for the country. This partnership will be displayed on Avaya’s GITEX conference showcase in Dubai later this month. With all these investments and partnerships in the industry, there’s a lot going on! Congratulations!

The remote-work debate continues. In Portugal, 79% of its employees reported an improvement in their productivity while teleworking. According to the “Back to Work” study conducted by staffing firm ManpowerGroup, productivity rose to a reported 92% while people were working from their homes. ManpowerGroup Portugal COO Rui Teixeira said that teleworking is highly valued because it offers flexibility to individuals. He added that organizations should consider their latest data and create a new working model that promotes flexible working hours to employees. However, in Singapore, 41% of its workforce are experiencing a deteriorating mental state at work since the start of the COVID-19 pandemic. A report published by the National Trades Union Congress (NTUC) LearningHub said that 64% of workers are experiencing a fair, or poor, level of mental wellness at work in the last 12 months, due to a poor work-life balance and feeling undervalued at work. In addition, over half of the survey respondents said that they are not satisfied with the mental wellness initiatives offered by their respective companies.

Just like in Portugal, American employees are looking for flexibility in their work conditions. Around 56% of employees in the United States are looking forward to returning to their offices – as long as their employers do not force them to come back. In a survey conducted by accounting firm Grant Thornton LLP, 40% of workers have said that they are ready to look for another job if they are forced to return to the office full time. Grant Thornton Business Change Enablement practice leader Jennifer Morelli said that organizations have to provide valid reasons nowadays to persuade their employees to come to their offices.

Staying in the US, the country is expecting to suffer from a major shortage of healthcare workers by the year 2026. An analysis by asset management firm Mercer stated that over 6.5 million healthcare workers are projected to leave in the near future due to the burnout that they have experienced amid the pandemic. Meanwhile, the demand for mental health professionals is forecasted to increase by 10% during the same time frame.

Will there be anyone left working by 2030?

Remember when work used to be fun?

Tuesday, October 12, 2021

NEWS THIS WEEK

11 October 2021

• Itel to hire over 1.7K people by year-end – read article…
• Moneypenny partners with ICG – read article…
• Telework improved the productivity of 79% of employees in Portugal -ManpowerGroup – read article… 
• ChrysCapital acquires ResultsCX – read article… 

08 October 2021

• 24-7 Intouch acquires Goodbay – read article…
• India’s only call center community TBC marks its first anniversary – read article…
• Bangladesh to become the next big IT outsourcing destination – read article…
• 56% of employees look forward to an office return if it is not mandatory – survey – read article…

07 October 2021

• One out of 5 US employers to prioritize remote workers’ well-being – Mercer – read article…
• Japan-based BPO transcosmos to use Avaya’s CCaaS – read article…
• Indian BPO market to reach US$8.8B by 2025 – read article…
• TCS partners with Scotland’s IS for digital transformation – read article…

06 October 2021

• India’s ​​IT-BPO sector urges gov’t to remove power banking restrictions – read article…
• ContactUS expands into near-shore regions, appoints new CEO and CIO – read article…
• Avantive Solutions expanding to SA, to partner with Outworx – read article…
• 41% of employees in Singapore reports declining mental health since pandemic started – read article…

05 October 2021

• 56% of organizations choose to outsource their cybersecurity – read article…
• Mexico’s employment rate increased by 3.4% in August – read article…
• US to face healthcare worker shortage by 2026 – Mercer – read article…
• Armanino acquires Holtzman Partners – read article…

Read more Inside Outsourcing Newsletters here:

1. The Outsourcing Week in Review: October 7, 2021
2. The Outsourcing Week in Review: October 14, 2021