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News : Vaz Confident BPO Sector will Rebound Despite COVID-19 Losses

#contactcenterworld

Kingston, Jamaica, June 25, 2020 -- The business process outsourcing sector has suffered losses of US$42 million over the past few months, as a result of restrictions imposed by the Government to curtail the spread of the novel coronavirus.

Minister without portfolio in the Ministry of Economic Growth and Job Creation, Daryl Vaz made the announcement in Parliament on Tuesday during his 2020-21 sectoral presentation in the House of Representatives.

However, he said despite the closure of call centres on April 22 following the COVID-19 outbreak at Alorica call centre in St Catherine, and the resultant drop in revenues, the BPO sector has managed to retain more than 33,000 workers and is moving to see how best it can retrieve approximately 7,000 jobs.

Vaz also noted that the work-from-home arrangements for about 40 per cent of call centre agents will end on August 31.

Meanwhile, the Government minister said the sector could still return to its pre-COVID-19 growth trajectory of 5,000 to 6,000 jobs per year, with adherence to training, promotion, policy, and health guidelines, as well as if new business can be secured, while also scaling up existing operations.

"All being equal, we expect to see a rebound in the sector by the end of the 2021 fiscal year, with a move towards the original projection of 50,000 jobs by March 2022," he said.

He pointed out, however, that the Global Services Association of Jamaica (GSAJ) has noted that growth is contingent on the recovery of the United States, which is the sector's main market. Vaz noted, too, that a proposal is to be advanced by the GSAJ for about 20 to 30 per cent of the global services sector workforce to be supported in a virtual special economic zone.

Vaz also told the House of Representatives that since the full implementation of the revamped Credit Enhancement Facility (CEF), 12 financial institutions — including microfinance entities — have signed on and have committed to support micro, small and medium-sized enterprises (MSMEs) with loans backed by over $10 billion in guarantees during the the current fiscal year.

The CEF aims to minimise the risk exposure associated with small business lending and acts as an incentive to financial institutions to increase MSME lending – enabling those with viable projects to get additional collateral support. It also facilitates the acceptance of non-traditional collateral by financial institutions. The CEF business model was revised from an individual scheme – in which individual guarantees are processed by the Development Bank of Jamaica (DBJ) – to a portfolio scheme in which the processing of guarantees is delegated to each approved financial institution based on an annual portfolio allocation, the minister explained.

He said the DBJ has also increased the volume of micro loans to the sector, totalling up to $2,421 million, and successfully implemented the Jamaica Business Fund, which facilitated $427 million in investments in 18 supply chains, benefiting 308 MSMEs.

#contactcenterworld

Posted by Veronica Silva Cusi, news correspondent
Source: http://www.jamaicaobserver.com


Today's Tip of the Day - Quality Of Service

Read today's tip or listen to it on podcast.

More Editorial From Ministry of Economic Growth and Job Creation

Published: Friday, June 26, 2020

Printer Friendly Version Printer friendly version

2020 Buyers Guide Speech Technology

 
1.) 
Agara

Agara is an autonomous virtual voice agent powered by Real-time Voice AI. It is designed to have intelligent conversations with your customers, vendors, and partners without any assistance from human agents. It can handle a wide variety of calls including inbound customer care calls, outbound lead generation calls, appointment scheduling calls, and overdue payment recovery calls.

Agara is available for several industries including banking, insurance, retail, e-commerce, airlines, and telecom. Powered by advanced Real-time Voice AI that understands speech in real-time, automatically determines the right process to follow and guides the caller along in the process with natural conversation.
PH: +1 (512) 333 4634

2.) 
Call Center Studio

Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.
PH: +1 512-872-7565

3.) 
Call Tracking Metrics

Execute automated actions based on words spoken by your customer.

Our intelligent word detection and transcription tools make it easier for you to decipher the content of your customer conversations and automate action based on those insights.

Transform the audio of your calls into speaker-organized scripts so you can easily search your call log for specific words from a conversation, or automatically detect when words of intent are spoken by your customer.

Listen in on and highlight common patterns in order to execute triggers to initiate a new action or workflow, such as emailing a manager if the word “cancel” is spoken on a call. You can also set up to automatically redact content from a transcript, such as sensitive health information transmitted on a call.
PH: 8005771872

4.) 
Daisee

Daisee
Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.

Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
(read more)
PH: +61404697151

5.) 
Eckoh

EckohASSIST
Advanced speech recognition and natural language expertise that routes callers by simply asking ‘how can I help you?’. It allows customers to use their own words to ask for what they want and steers them to the right place.

Menus are eliminated altogether and contact centres can use a single inbound telephone number.
PH: 01442 458300

6.) 
MattsenKumar LLC

SmartSpeech
SmartSpeech – The Best In Class Speech Analytics Software

An all-inclusive speech analytics application that enables you to visualize your audio using state-of-the-art speech recognition, transcription, and text analytics technologies.
PH: +91 99026 10044

7.) 
Voci Technologies Incorporated

V-Blaze Speech to Text
Our GPU-accelerated, AI-based technology enables you to deliver greater insights to the contact center by transcribing audio into analyzable text.

- Transcribe large volumes of recorded audio quickly
- Integrate transcripts with your analytics or business intelligence platform
- Reduce your hardware footprint and minimize total cost of ownership
PH: 412-621-9310

8.) 
Voxjar

Voxjar
Voxjar is your one-stop-shop for driving better phone calls with your customers. We're a modern Conversation Analytics and Call Coaching Platform.

- Custom Charts and Dashboards give you the freedom to analyze calls from the highest level down to the details of each conversation.

- AI-Powered Speech Analytics transcribes, searches, and analyzes your reps' phone conversations, at scale.

- Quality Assurance and Call Coaching tools let you evaluate and improve agent performance with a human touch.

- Long term recording storage for historical analysis


All of these together provide the holistic, easy-to-use software that you need to manage a modern call team and create better con...
(read more)
 
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