In the near future, nearly 60 percent of the business process management industry’s revenue is expected to come from analytics and finance and accounting. Traditional customer service comparatively is losing steam. Jochelle Mendonca reports on the implications in an article for The Times of India.
Industry revenue could potentially go as high as $50 billion by 2020, and customer service is expected to account for less than 40 percent of that revenue. Companies like Genpact have been undertaking transformative strategies to go after more innovative forms of growth. As Mendonca relates:
“Clients are asking why the work can't be done with fewer people and are looking for efficiencies and automation. Indian companies have to start investing more in the platforms that will result in greater productivity because clients are looking to move away from a system that pays on the basis of the number of people doing the work,” Milan Sheth, partner and technology sector lead at consultancy EY, said.
Roughly 13 percent of industry contracts are outcome-based at the moment, and this number is expected to grow. There are however pitfalls to this shift. To learn about those challenges, as well as gain further elaboration on points raised here, you can read the full article: http://timesofindia.indiatimes.com/tech/it-services/BPOs-care-less-for-call-centres-now/articleshow/42395010.cms