CLEVELAND, September 22, 2022 /PRNewswire/ — Contact centers were forced to become more agile in response to the COVID-19 pandemic, increasing timelines for technology adoption, remote working and omnichannel customer engagement, according to an industry report published by the Business Services investment banking team at Brown Gibbons Lang & Company (BGL).
Read Business Services Insider: The Mid-Game Pivot: Contact Center Industry Quickly Adapts to Market Forces: https://bit.ly/BusServInsider
The report examines developing trends and the current state of the contact center M&A market, where consolidation continues in a fragmented landscape.
- Technology is transforming customer service. The migration to the cloud has made artificial intelligence (AI), machine learning and predictive analytics more practical and achievable. Organizations are investing in AI capabilities that directly contribute to improved customer experience (CX), cost savings and operational efficiency.
- Customer needs and expectations are continually evolving and levels of interaction are rapidly increasing, with an omnichannel service approach now delivering a frictionless, cohesive and personalized customer experience. By focusing on delivering ever higher levels of customer service, the contact center is now seen as a critical component in maintaining and increasing brand loyalty rather than a necessary cost of doing business.
- Working from home is a permanent change in service delivery, promoting greater employee and customer satisfaction while reducing operational costs.
- As technology transforms CX solutions, it is also influencing M&A activity, with digital service platforms in high demand. Acquisitions remain a primary lever in value creation as buyers seek to increase digital capabilities and diversify across industry verticals and geographic markets. The proposed merger of Sitel Group and Majorel and the acquisitions of WNS (Vuram) and Teleperformance (Senture) are examples of recently announced strategic transactions. Bain Capital (VXI Global Solutions) and ChrysCapital (ResultsCX) are among the private equity backers to establish growth platforms in the contact center space.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank 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, financial restructuring, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, Los Angelesi New Yorkand real estate offices a Chicago, Clevelandi Saint Anthony. The firm is also a founding member of Global M&A Partners, enabling BGL to serve clients in more than 30 countries worldwide. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., a subsidiary of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, visit www.bglco.com.
SOURCE Brown Gibbons Lang & Company