Contact Center Outsourcing (CCO) Market for the BFSI Industry – Service Provider Landscape with PEAK Matrix™ Assessment 2014

24 Nov 2014

$2,999.00

Introduction

CCO market for the BFSI industry (hereafter referred to as BFSI CCO market) is among the largest and the most mature segments of the CCO industry. Though the market has shown signs of stagnation in North America, rising adoption in Asia Pacific and Latin America has resulted in 3-4% annual growth of the CCO market in the last few years. With growing market maturity, requirements of the BFSI buyers have evolved from voice-based customer service to multi-channel BFSI-specific CCO support. Service providers are, therefore, creating value-added solutions that include social media and customer analytics. They are also establishing global delivery networks to service their BFSI clients.

In this research, we analyze the BFSI CCO market across the following dimensions:

  • Market overview and buyer adoption trends
  • Service provider landscape
  • BFSI CCO PEAK Matrix 2014
  • Key insights on PEAK Matrix dimensions

BFSI CCO PEAK Matrix

Scope of analysis

  • More than 1,000 CCO deals signed as of December 2013
  • Global coverage across all major languages, geographies, channels, and industries
  • Coverage across 20+ CCO service providers including Aegis, CGI, EGS, EXL, Firstsource, Genpact, HGS, HP, Infosys, Minacs, Serco, Sitel, Sutherland Global Services, TCS, Tech Mahindra, Teleperformance, Transcom, Wipro, Webhelp Group, WNS, and Xerox
  • BFSI CCO Market Size

    Content

    This report provides an overview of the Contact Center Outsourcing (CCO) market for the BFSI industry. It provides insights around market size and growth (forecast up to 2015), buyer adoption & scope trends, service provider landscape, service provider positioning on the Everest Group PEAK Matrix, and assessment of the service provider delivery capabilities.

    Some of the findings in this report are:

    • Being an early adopter, the BFSI vertical is a mature buyer industry for CCO services
    • While voice is the predominant channel used for CCO interactions, non-voice channels are finding rising adoption. Among non-voice channels, e-mail holds the largest share of revenue while chat has witnessed the highest growth
    • Asia Pacific remains the preferred location for delivering CCO services. With buyers demanding higher quality services, service delivery from high- and medium-cost locations is expected to rise in the coming years
    • CCO service providers for the BFSI industry can be divided into three categories – CCO specialists, BPO pure-plays, and IT+BPO players
    • The BFSI CCO market is fairly competitive, with leading service providers varying across BFSI sub-verticals and geographies
    • Everest Group classifies 20+ CCO service providers on the Everest Group Performance | Experience | Ability | Knowledge (PEAK) Matrix into three categories of Leaders, Major Contenders, and Emerging Players. The PEAK Matrix is a framework to assess the relative market success and overall capability of service providers
      • Leaders: HP, Serco, Sitel, and Teleperformance
      • Major Contenders: Aegis, EGS, EXL, Firstsource, Genpact, HGS, Minacs, Sutherland Global Services, TCS, Transcom, Webhelp Group, Wipro, WNS, and Xerox
      • Emerging Players: CGI, Infosys, and Tech Mahindra
    • The PEAK Matrix Leaders, Major Contenders, and Emerging Players were compared to identify differentiating strategy and operational capability across the dimensions of market success, scale, scope, technology, and delivery footprint
    • Leaders outperform other providers across nearly all the metrics assessed. Furthermore, they are spearheading the adoption of value-added services and penetration into emerging geographies in the BFSI CCO market

Everest Group has a complimentary four-page PEAK Matrix preview document for this service provider landscape report.

 

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