Cleveland, September 22, 2022 /PRNewswire/ — Contact centers are being forced to become more efficient due to the COVID-19 pandemic, technology adoption, remote work and increasing timelines for omnichannel customer interactions, according to an industry report from the Business Services Investment Banking Group. Brown Gibbons Lang & Company (BGL).
Read Business Services Insider – The Mid-Game Pillar: The Contact Center Industry Is Quickly Adjusting to Market Forceshttps://bit.ly/BusServInsider
According to an industry report by Brown Gibbons Lang & Company’s Business Services Investment Banking Group, contact centers have been forced to become more agile in response to the COVID-19 pandemic, with tightening deadlines for technology adoption, remote work and omnichannel customer interactions. (BGL)
The report examines evolving trends as well as the current state of the contact center M&A market, which continues to consolidate in a fragmented landscape.
- Technology is changing customer care. The migration to the cloud has made artificial intelligence (AI), machine learning and predictive analytics more practical and accessible. Organizations are investing in AI capabilities that contribute to improved customer experience (CX), cost savings and operational efficiencies.
- As customer needs and expectations are continually evolving, and levels of interaction are rapidly increasing, an omnichannel service approach is now expected to deliver a frictionless, integrated and personalized customer experience. Focused on providing ever-improving levels of customer service, the contact center is now viewed as a critical component in maintaining and increasing brand loyalty and as an essential business expense.
- Work-from-home is a permanent change in service delivery that promotes higher employee and customer satisfaction and lowers operating costs.
- As technology transforms CX solutions, it is also impacting M&A activity, with digital-first service platforms in high demand. Acquisitions remain a key driver in value creation as buyers look to increase digital capabilities and expand across industry verticals and geographic markets. The proposed merger of Sitel Group and Majorelle and the acquisition of WNS (Vuram) and Teleperformance (Century) are examples of recently announced strategic transactions. Bain Capital (VXI Global Solutions) and ChrysCapital (ResultsCX) are among the private equity sponsors to establish growth platforms in the contact center space.
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About Brown Gibbons Lang & Co
Brown Gibbons Lang & Company (BGL) is a leading independent investment banking and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financing restructurings, business reviews and opinions, and other strategic matters. BGL has investment banking offices Chicago, Cleveland, AngelsAnd new yorkand real estate offices in Chicago, ClevelandAnd Saint Anthony. The firm is a founding member of Global M&A Partners, which enables BGL to serve clients in more than 30 countries around the world. Securities transactions are handled by Brown, Gibbons, Lang & Company Securities, Inc. It is owned by Brown Gibbons Lang & Company LLC and a registered broker-dealer and a member of FINRA and SIPC. For more information, please visit www.bglco.com.
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