BPO
SOURCE : S & P CAPITAL IQ
Broadly , M & A valuation multiples in the contact center services subsector have also remained steady , which has predominantly been the result of strategic and financial acquirers engaging in competitive bidding processes for high-quality middle market assets .
LOOKING AHEAD The global BPO market is poised for continued growth . Increasing adoption of business process automation , AI , lnternet of Things , cloud , and other emerging technologies will drive market growth as companies look to implement new workflows and capabilities that address the changing needs of customers .
Furthermore , demand from rapidly expanding industry verticals will remain a key driver of market expansion .
INCREASING ADOPTION OF BUSINESS PROCESS AUTOMATION , AI , INTERNET OF THINGS , CLOUD , AND OTHER EMERGING TECHNOLOGIES WILL DRIVE [ GLOBAL BPO ] MARKET GROWTH ...
We expect M & A to continue to shape a shifting landscape of BPOs and contact centers across a variety of market sizes . The emergence of large-scale transactions will pressure larger industry participants to make their own strategic acquisitions .
Similarly , when one company merges with another , there will inevitably be a change in workflow at the executive level leaving skilled management looking for new opportunities . This outcome will enable mid-level competitors to bring in talent with significant subject-matter expertise to pursue aggressive acquisitive growth strategies .
Peter
J . Hill is a Managing Director and leads the Professional Services investment banking group at Brown Gibbons Lang & Company ( BGL ), an independent investment banking and corporate financial advisory firm . Peter has significant experience in the BPO and contact center sector , working on a variety of M & A and financing transactions .
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5 . KEEP THE SALES AND SUPPORT TEAMS FIRED UP .
Finally , businesses can benefit from keeping an eye on what gets each agent buzzing . For instance , recognition has been repeatedly shown to maintain employee engagement and promote job fulfillment . When the team is happy , businesses enjoy less turnover , higher satisfaction levels , and most importantly , more productivity .
In the current technology age , businesses can measure the ROI of recognition through HR software solutions . With this technology in place , managers can ensure that agents receive the motivators that are most closely linked to their success .
Although recognition tends to be a great motivator , it ’ s still important to remember that not all agents are equally driven by praise . Other common motivators include greater autonomy , collaboration opportunities , bonuses , and time off .
By leveraging software to track which motivators have the greatest impact on each agent , managers can better inspire their teams to perform above and beyond expectations .
It ' s also important to implement standard , reliable practices for contributing to a positive company culture . When a company ’ s culture is strong , revenue tends to be as well .
Here are some key indicators of a healthy culture . They include setting agreed-upon goals that are achievable
SALES PRODUCTIVITY
and well defined , providing regular and ongoing feedback , encouraging collaboration amongst teams , and creating opportunities for career advancement .
With a good roadmap of the strengths and gaps in the sales process , businesses can use their resources better , improve sales training , and fix any problems that are slowing things down . When these five areas are streamlined , from automation to rewards , agents can put more hours into work that makes a real difference to the bottom line .
Sean Evers , Vice President of Sales at Pipedrive , is responsible for developing sales plans and strategies , organizing and maintaining sales operations , and leading sales teams . He brings nearly two decades of sales experience to Pipedrive , working in leadership roles at a wide range of companies .
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