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Industry Research : New Report Predicts Growth Spurt for BPO
Contact centre outsourcing services in the Mexico, Central America and the Caribbean markets earned US$3.02 billion in 2013, according to a new report from Frost & Sullivan.
The report also predicts that growth will strengthen based on available human resources and enlightened government policy in the region, and says Mexico, Central America and the Caribbean is growing at a faster rate than the wider Latin American region.
"The existence of free-trade zones that offer exemptions from sales taxes, equipment import taxes, and exporting fees to providers who generate a minimum percentage of their revenue from exports," said the report titled 'Mexico and Central America and the Caribbean Contact Centre Outsourcing Services Markets' released on March 13.
It also estimates that earnings will reach US$5.07 billion by 2020.
In Mexico, growth comes from more diversified sources, including banking, financial services, and insurance.
Frost & Sullivan's ICT industry analyst Sebastian Menutti said in a release that the Central American and Caribbean markets are "well positioned to provide high-end contact centre outsourcing services to the US due to their cultural affinity with the country and the availability of a qualified workforce with a neutral accent".
Current challenges for Central America, the report notes, includes "saturation on of the labour markets in the main cities of countries such as Costa Rica, Panama, El Salvador and Dominican Republic coupled with the high attrition and absenteeism rates of employees in big cities".
These conditions are affecting the plans for expansion of major participants in the region, it added, while noting that contact centre outsourcing service providers need to set up additional centres in new locations that have the requisite manpower.
To date, however, revenue enhancement has been positively affected by providers "distributing traffic depending on the competitive advantage each country possesses. Accordingly, transactional traffic is placed in low-cost locations, back-office activities are conducted in cost-effective destinations with a high standard of education, and traditional voice services for US clients are provided from key cities in Latin America," said Frost & Sullivan.
Mexican contact centre outsourcing service providers are also improving their profitability by diversifying their portfolios to include back-office and non-voice business process outsourcing (BPO) services such as data recovery, financial services, and logistics, the report stated.
Posted by Veronica Silva Cusi, news correspondent
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Published: Monday, February 3, 2014