Tag: customer experience

The Mid-year CXM Checkpoint: Key Learnings and What’s to Come | Webinar

On-Demand Webinar

The Mid-year CXM Checkpoint: Key Learnings and What’s to Come

The Customer Experience Management (CXM) industry has experienced incredible growth over the past several years. But what are the challenges it faces now due to the impending recession, the inflationary environment, and the increasing need to provide differentiated experiences to customers?

In this webinar, our analysts will examine the major events affecting the CXM industry in the first six months of 2023, how these events have shaped the industry, and what we can expect for the rest of the year.

Our speakers will discuss:

  • The CXM industry’s performance in the first half of 2023
  • The potential impact of next-generation technologies, such as Generative AI, on CXM
  • Major M&A activities in CXM
  • Key considerations for enterprises and service providers in the current market scenario

Who should attend?

  • CEOs, CCOs, CIOs, CTOs
  • BPO strategy/global heads
  • Head of CXM outsourcing
  • CXM strategy heads
  • Head of customer service
  • Head of CXM service delivery
  • Senior sales and marketing executives
Biswas_Chandan_Chhandak
Practice Director
Rickard David
Partner

Concentrix Acquires Webhelp: A Game Changer in the Global Customer Experience Management (CXM) Landscape | Blog

The combination of Concentrix and Webhelp will create a global customer experience management (CXM) titan that can significantly shape the industry’s future. Let’s explore the benefits and other implications of this mega deal.

The recent announcement of Concentrix’s planned acquisition of Webhelp in a US$4.8 billion deal is a major milestone in the growing trend of mergers and acquisitions in the CXM industry over recent years.

With an estimated pro forma 2023 annual revenue of US$9.8 billion across multiple businesses, including CXM, trust and safety, and legal services, the combined entity will emerge as a global service powerhouse with the potential to significantly shape the CXM industry.

Key drivers of the acquisition

The strategic benefits of this acquisition include:

  • Stronger operational presence beyond North America: Webhelp has a strong presence in sales, marketing, and payment services across Europe, Latin America, and Africa. With this acquisition, Concentrix will be able to strengthen its operations beyond North America in these geographies. Concentrix is further set to bolster its extensive operations in the Asia-Pacific region by leveraging Webhelp’s existing operational presence and partnerships with regional CXM providers in China and Japan through joint ventures with Kingwisoft and Telenet, respectively. This will result in the combined entity having a diversified revenue contribution across the Americas, Europe, and Asia Pacific
  • Enhanced delivery capabilities in Europe, Latin America, and Africa: Webhelp adds more than 25 new countries to Concentrix delivery locations, including Denmark, Greece, Estonia, Finland, Norway, Madagascar, Peru, and South Africa, thus, strengthening Concentrix’s delivery presence in Europe and Latin America, as well as helping it establish an African footprint. This collaboration will establish a robust and well-balanced global footprint, which can attract global enterprises looking to partner with service providers who can offer the right shoring mix to their end customers across geographies
  • Varied customers: Webhelp’s customer base is primarily situated outside of North America leading to limited client overlap with Concentrix. With this acquisition, Concentrix is set to gain around 1,000 new clients from Webhelp, consisting of over 25 Fortune Global 500 clients, and more than 200 clients from emerging economies. This will significantly increase the combined entity’s client base to approximately 2,000 clients, of which 155 are Fortune Global 500 clients and 320 are from the new economy sector. By expanding and diversifying its client base, Concentrix can increase revenues, broaden service offerings, and gain economies of scale, while its clients also will benefit from access to a wider range of resources and expertise
  • Operational synergies: Combining Concentrix and Webhelp will enable the sharing and cross-selling of digital capabilities, including Concentrix’s Catalyst platform and ServiceSource’s expertise in the fast growth-technology (FGT) segment, as well as Webhelp’s Lead Factory and consulting firm Gobeyond Partners. This will allow the combined entity to offer clients high-value services, addressing their needs more comprehensively and efficiently. Moreover, the partnership is expected to broaden the global reach of Concentrix Catalyst and accelerate its expansion by leveraging Webhelp’s engineering know-how in Europe and Latin America. Sharing resources also can lead to operational efficiencies, enabling the merged entity to enhance profitability and market competitiveness. Expected cost synergy benefits will be US$75 million in the first year after the closing of the transaction and will reach a minimum of US$120 million (after accounting for investments) by the third year
  • Expansion of other service lines: Concentrix can expand its trust and safety service lines by utilizing Webhelp’s delivery footprint and in-house solutions, such as Contentus.AI for more efficient moderation, Navigatus for enhancing work quality, and Moderatus for detecting and removing false news and hate speech. In addition, Concentrix can leverage Webhelp’s expertise in legal services, including legal claims management and Know Your Customer (KYC) services, to further expand its Business Process Services (BPS) portfolio

Key considerations

  • Integration challenges: Varying technology systems and processes, as well as the difficulty of integrating and managing data, can potentially hinder the Webhelp and Concentrix union. Bringing the respective customer service models and training programs into alignment also can pose challenges. Furthermore, integrating human resources and payroll systems, benefits, and compensation programs can be complex and will require careful planning and execution. However, contrary to other recent CXM acquisitions, we do not foresee a significant culture clash challenge between Concentrix and Webhelp
  • The emergence of a new category of global CXM Titans: In recent years, the CXM market has witnessed a significant trend towards consolidation, with several high-profile mergers such as Sitel Group’s merger with SYKES to form what is now known as Foundever and Comdata Group’s merger with Grupo Konecta. The upcoming collaboration between Concentrix and Webhelp is poised to contribute to this consolidation trend, with the combined entity expected to control a considerable market share of roughly 6-8%. Similar to the super-major formation era of the late 1990s and early 2000s in the oil and gas industry, Concentrix, Foundever, and Teleperformance are poised to form a new category of global CXM Titans that have the potential to dominate the market due to their extensive resources, expertise, and global reach. Their emergence validates the growing appetite for comprehensive CXM solutions and the need for providers who can meet these demands on a large scale
  • Competition and opportunities for other providers and specialized players: The consolidation of these two forces may create challenges for other CXM players who might struggle to compete with the resources and scale of the merged entity. However, this also could create opportunities for providers to thrive with tailored offerings targeted at specific customer service areas or industry sectors, such as IGT Solutions and ResultsCX with their focused offerings for travel and healthcare, respectively

The announcement of Concentrix’s acquisition of Webhelp has generated a significant buzz in the CXM industry. Certainly, we expect this pending acquisition to fuel more CXM market consolidation, which may potentially limit buyers’ choices for transformation-oriented strategic partnerships.

Despite these concerns, the Concentrix and Webhelp combination creates a formidable CXM force that will likely shape the industry’s trajectory for years to come. Monitoring the impact of this collaboration on the CXM landscape as well as watching other market players respond to the ongoing consolidation trend will be fascinating. Who will be the next global CXM titan to join their ranks?

To discuss global customer experience management topics, contact Shirley Hung [email protected], Sharang Sharma [email protected], or Divya Baweja, [email protected].

And watch our LinkedIn Live event, Delivering CXM Services from Africa: Who, Where, Why, and How, to learn why Africa has become an ideal option for global customer experience management.

What Are the Benefits and Barriers of Impact Sourcing in CXM? | LinkedIn Live

LINKEDIN LIVE

What Are the Benefits and Barriers of Impact Sourcing in CXM?

View the event on LinkedIn, which was delivered live on Thursday, March 16, 2023.

Impact sourcing is an ethical outsourcing practice that intentionally focuses on maximizing societal and business outcomes ♻️. Over the years, we’ve witnessed growth in impact sourcing globally, specifically in customer experience management (CXM) by both traditional providers and impact sourcing specialists👥.

Impact sourcing delivers many benefits for workers, the communities around them, and businesses employing them; however, there are also barriers.

📢Watch this LinkedIn Live recording as our analysts and Global Mentorship Initiative CEO, Jon Browning, break down the benefits impact sourcing workers experience and the challenges businesses face when recruiting them.

Any organization interested in learning more about sustainability, environmental, social, and governance (ESG) objectives, and impact sourcing and is looking to get started with an initiative of their own should attend💻.

What questions does the event address?

✅ What are the key trends and drivers leading to impact sourcing demand?
✅ What are the key benefits of impact sourcing for providers and buyers of outsourcing services?
✅ What are some significant impact sourcing initiatives by traditional service providers and impact sourcing specialists?
✅ What are the recommendations for implementing impact sourcing and challenges faced by buyers and service providers?
✅ What is the future outlook of impact sourcing?

Meet The Presenters

Sharma Nimish
Analyst
Everest Group

Strategies for Customer Experience (CX) Success in an Uncertain World | Webinar

ON-DEMAND WEBINAR

Strategies for Customer Experience (CX) Success in an Uncertain World

The global customer experience (CX) outsourcing market has grown tremendously. The current market size is more than US$105 billion, and CX remains a key focus area for enterprises.

However, the CX market is now facing a new set of challenges influenced by the increasing need to provide differentiated experiences to customers – while managing mandates to reduce costs.

Join our CX experts as they explore key trends and provide recommendations on what to prioritize and how to navigate the challenges to deliver exceptional CX. 

What questions will the webinar answer for the participants?

  • What is the CX industry outlook for 2023 and how can enterprises reduce costs?
  • What are the potential challenges and trends that will impact the CX industry?
  • Which actions can enterprises and service providers take to build their CX strategies for 2023 and navigate potential challenges?

Who should attend?

  • CEOs, CCOs, CIOs, and CTOs
  • BPO strategy and global heads
  • Leaders of CXM outsourcing
  • Leaders of CXM strategy
  • Head of customer experience
  • Head of customer service
  • Head of CXM service delivery
  • Senior sales and marketing executives
Biswas_Chandan_Chhandak
Practice Director
Rickard David
Partner

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