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BPOs in Asia-Pacific: Reinventing growth INSIGHTS FOR SUCCESS | IDEAS TO EXECUTE Do what you do best. Outsource the rest. Peter Drucker Author Philippines BPO employment stats 2 Mr. Kumar was interviewed by Twimbit for this white paper Twimbit | Research for the Future 4BPOs in Asia-Pacific: Reinventing growth Top industry challenges As the world economy recovers in the post-Covid-19 era, structural challenges will be prevalent in the BPO industry. Here are the top four challenges that the industry must overcome: Traditionally business continuity was about remote locations which could be activated if a disaster or an unforeseen event limited the ability of a contact centre to function. While work-at-home-agents (WAHA) have been prevalent for a while, it was never a business continuity option. This will now be a must-have capability for every contact centre. Technology and processes will need to evolve urgently to facilitate the delivery of a secure and compliant WAHA solution. Right now, there are concentrated large facilities with thousands of people working in one place. They are going to have to nd different locations and a smarter spread of places where they can outsource.” KS Kumar CCO, Sutherland Global 2 2. Need for robust business continuity The growth of smartphone and internet penetration accelerated the user shift to digital. This has shaped a new norm for businesses, where an omnichannel presence has become integral for both sales and post sales activities. The last decade saw the birth and the boom of the internet economy, revolutionising forever how customer convenience was looked at. BPOs need to transform with a sense of urgency to address this rapidly changing consumer trend. Transitioning from voice to digital is not just about omnichannel. Its a business model change that a majority of industry participants will certainly face difculties with.” Twimbit 1. Digital disruption “ “ Twimbit | Research for the Future 5BPOs in Asia-Pacific: Reinventing growth 3 Mr. Subramaniam was interviewed by Twimbit for this white paper 4 Nestia article on AI Despite all the discussion on the importance of customer experience, the decision to choose a service provider usually centres around cost. Additionally, large enterprise customers are adopting a strategy to consolidate their providers. Intense price pressure is impacting margins, especially for the mid and small BPO providers. BPOs are locked into servicing commitments based on traditional business models. incremental costs of new business continuity initiatives add pressure on margins.” 3 Siva Subramaniam Co-founder FBC Asia-Pacific Inc 3. Intense pressure on margins “ The increasing use of automation is making low-end jobs redundant. For example, in Philippines, 50 percent of the 1.3 million people employed in the US$25 billion BPO industry have low skill level jobs. 4 There is an urgent need to upskill the existing talent as well as groom the talent coming from universities to be industry ready for the specialised skills being demanded by the digital age businesses. Businesses are looking for a more comprehensive, end-to-end solution with domain expertise in their respective industries for their customer experience challenges. Industries have now pivoted in a way that hiring for BPOs has become more complicated as they look for more complex skills. We will exceed the 100,000 per year upskilling target to meet the demand of the industry.” Rey Untal IBPAP President, Philippines 4. The talent crisis in the industry “ Twimbit | Research for the Future 6BPOs in Asia-Pacific: Reinventing growth 5 Teleperformance Annual Report 2019 Growth opportunities in the next decade With every challenge, lies hidden opportunities. The development of innovative technologies and processes creates a leverage for the BPO industry to continue on its purple patch of growth. The trends defining the next decade includes: Many start-ups in this sector have seen an exponential growth in their business and have gone on to become unicorns over the last decade. These companies have had to leverage on the expertise of outsourcing providers to scale their businesses. They have high engagement levels on their mobile applications. A highly responsive customer service provides differentiation and is a critical pillar in their growth strategy. 1. Internet economy companies Teleperformance revenue generation with e-clients (%) 5% 21% 95% 75% 2013 2019 E-clients Other Revenue from e-clients has grown from $121 Million in 2013 to $1.1 Billion in 2019. 5 Twimbit | Research for the Future 7BPOs in Asia-Pacific: Reinventing growth 6 Mr. Clancy was interviewed by Twimbit for this white paper 7 Genpact on acquiring Rightpoint Client expectations from the BPO industry are changing. Instead of looking for capacity providers, clients want BPOs to act as end-to-end solution providers. This drastically changes the perspective of the outsourcing house owners and allows the performance to be measured using the new KPIs. Instead of focusing on call-volume optimisation, contact centres are focusing on measurable outcomes, directly affecting the client business. 2. Outcome driven business models Enterprise customers are looking at reimagining business processes through an integration of technology and automation. BPOs are ideal partners to support the digital transformation agenda. This calls for deep industry-specific domain expertise and a tighter integration of disruptive technologies into the value proposition. BPOs have an incredible opportunity to develop new value propositions and serve more industries. 3. Specialised programs to transform client business processes “We are rapidly moving to an era where 90 percent of all new business is driven by outcome driven business models. We are positioned to be at the forefront of that.” 6 Genpact acquired digital consulting company Rightpoint, boosting its ability to win specialised projects in the experience economy 7. William Clancy, Associate Director, Datacom 8 Harvard study on social distancing 9 How TCS dealt with the covid crisis Immediate business priorities The BPO industry has played an instrumental role in enabling businesses to provide great customer experience. CSAT scores are proof of their performances. Traditionally, every business priority for the industry has been linked to achieving the end goal of high CSAT scores. However, to unlock superior customer experience, the future of the industry will be driven by four key business priorities: 8 Harvard study on social distancing 9 How TCS dealt with the covid crisis Studies indicate that the social distancing norms are here to stay until the end of 2022 8 . Government-enforced lockdowns caught most businesses off-guard and they cannot discount the possibility of facing similar situations in the time to come. Having a secure, compliant work from home solution also has added benefits of reduced cost to serve, higher employee morale and lower attrition rates. 1. Enabling a secure and compliant work from home solution To ensure business continuity amidst the Covid-19 enforced nation-wide lockdown in India, TCS scaled up its Secure Base Working Space initiative, and made it possible for 85 percent of its global staff to work remotely. Before the pandemic, that gure was less than 40 percent. 9 Twimbit | Research for the Future 8BPOs in Asia-Pacific: Reinventing growth 10 Pentafon using employee engagment tools for forecasting and scheduling 10 Genesys: BlueLink success story 11 Pentafon using employee engagment tools for forecasting and scheduling Since its inception, the outsourcing business has thrived on its cost benefits. Given the shrinkage in the margins and the intense price-competition in the market, reducing the cost to serve remains an important business priority. Covid-19 will add more pressure on cost optimisation. Service providers need to continuously reduce the cost to serve through leveraging automation and the use of AI. 2. Reduce cost to serve BPOs are adopting disruptive technologies to enhance agent productivity and optimise user handling time. Signicant cost reduction is now a pre-requisite to compete. Twimbit The metrics of customer experience are changing from call handling times to customer engagement scores. This is encouraging outsourcing service providers to reimagine their role in the customer journey. This opportunity is quite monumental, especially with traditional brick and mortar companies who are accelerating their digital transformation roadmaps. 3. Helping customers transition to digital engagement “In this ever-evolving digital world, the client needs reassurance at every step of the buying journey. Today, customer service can be the only point of human contact between a company and its consumers. Flawless excellence is essential to assure loyalty and satisfaction.” 10 Employee engagement planning has taken on a new meaning. Instead of solely focusing on numbers, contact centres are now recognising the impact of employee morale and satisfaction on customer experience. As the number of work-at-home-agents (WAHA) increases, BPO houses must look for ways to enable superior employee engagement and supervision. 4. Employee engagement and workforce management Pentafon contact centre automation is a major driver of efficiency and cost control and AI and analytics help transform the business model. Compliance, security, and legacy issues have hampered the adoption of the Cloud by the BPO providers. Covid-19 is now a compelling catalyst to drive an accelerated adoption of the Cloud. Companies are quickly adopting and implementing Cloud-based solutions and pushing for overnight deployment. The migration to Cloud will have significant long-term benefits such as rapid scalability and an agile innovation framework. Cloud will lay the firm foundation for long term growth and innovation. CLOUD COMPUTING The ability to integrate with speed is one of the big benets of using cloud. We saw during Covid-19, we were able to move fast like never before, thanks to cloud. 12 Rohan Khanna, GM of Technology, Innovation & Projects, Probe Group Twimbit | Research for the Future 11BPOs in Asia-Pacific: Reinventing growth 13 AI use case in contact centres 14 TelecomExpress uses automation to improve forecasting “After implementing voice-based AI technology, a contact centre client saw 28 percent increase in its net promoter score. At the same time, the company achieved shorter call durations and helped inexperienced agents to improve productivity.” Traditionally, BPOs have been depending on legacy systems and a large number of employees carrying out mundane tasks on a daily basis. Automation, in this case, is the most impactful and easy to implement option for them. It will speed up the turnaround times, reduce cost, minimise scope of human errors and boost the overall customer experience. BPOs can refocus the additional workforce on other specialised tasks. AUTOMATION TelecomExpress used automation to closely track, forecast and schedule agent workloads. It enabled them to have greater utilisation and kept agents busy for at least 80 percent of their working time. 14 Dr. Skyler Place VP of Behavioural Science, Cognito 13 Deflect-to-digital is one of the most prominent themes for contact centres in an attempt to reduce cost to serve and optimise handling times. AI-powered self-service chatbots or intelligent agents have proven to be the go-to-solution for contact centres in the near future. In the long-term AI and Analytics will help BPOs to transform the majority of their business from being reactive customer service providers to proactive business growth enablers. AI & ANALYTICS Twimbit | Research for the Future 12BPOs in Asia-Pacific: Reinventing growth CLOUD COMPUTING Accelerating digital transformation Easily enables remote agents with limited requirements from end user terminals. A scalable, exible and secure microservice architecture that helps accelerate the move towards digital business. Ensures seamless and superior business continuity and disaster recovery. Regularly integrates advanced features and functionality. Enables introduction of disruptive technologies and new services. Allows easy access to information, central to competing in a data driven world. Catalyses the introduction of disruptive technologies and new services. Chatbots facilitating sales and customer queries will be critical in managing digital engagement as more channels drive growth in real-time conversations. Conversational AI assistants will grow in usage Proactive and predictive engagement with customers will occur at the right moment with intent-based algorithms. Auto-match will lead to the right sales representatives with skill and attribute-based routing. More sophisticated outcome-based value-add products will be developed. Automate all rules-based tasks Reduce average handle time Increase capacity and calibre of teams by automating workflows Improve accuracy and control in high-growth environments Support automated communication between disparate platforms Forecast and schedule across channels to drive workforce optimisation Automate distribution of abandoned online transactions, improving sales attribution AI & ANALYTICS AUTOMATION Personalisation and frictionless CX Reduce cost to serve Twimbit | Research for the Future 13BPOs in Asia-Pacific: Reinventing growth The growing importance of employee engagement WAHA might bring about the biggest business model change driven by the convergence of trends such as gig economy, remote working and flexible work arrangements Technology tools will play an important role in supporting compliance requirements Employee well-being will need to be measured in real-time by leveraging digital tools and become part of client evaluations The urgent need to upskill and reskill the existing workforce to keep pace with technology, regulation and business model changes will call for increased investment in learning and development tools Wellness programs will take on a new meaning as businesses welcome more employees working remotely There is an increasing awareness of the strong correlation between employee engagement and customer experience. The new normal in a post-Covid-19 era will have greater implications on this megatrend. The specific implications may include the following: 15 Sitel blog on workforce engagement Twimbit | Research for the Future 14BPOs in Asia-Pacific: Reinventing growth These factors will drive an increased investment in workforce engagement solutions. The next generation of these solutions will embrace the full benefits that the three disruptive technologies of Cloud, AI and Automation have to offer. “If a company wants to make sure they offer customers an engaging, emotional experience, they need to start by looking at the associate experience.” Olivier Camino Sitel Group Founder and Global Chief Operating Officer (COO) 15 The use of facial recognition a
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