Day Two Key Insights and Presentations
Day two of CxOutsourcers 2023 continued with more thought leadership content, insights and incisive research and analytics from CX industry leaders on Wednesday 31 May 2023.
Evolving work models, the rising popularity of nearshoring across Europe, and enterprise buyer pain points when selecting a right-fit outsourcing provider were some of the salient topics covered by expert panelists.
Future Trends in CX Working Models
‘’What would things look like in a parallel universe if the pandemic did not happen?’’ – an unsaid question compelling the panelists to reimagine today’s evolving work models. A decade ago, flexible work had already been studied and proven to work, but it would still be a while away until it was fully accepted, noted Stephanie Todd, Founder of SoulCX. Mark Hillary, a globally recognized CX and Technology Analyst and Writer, agreed, pointing out that COVID-19 was the forcible hand that made work-from-home (WFH)/hybrid working models a reality in CX businesses today. In fact, WFH in businesses went from 3% to 100% in a matter of weeks, triggering the respect for people to opt for flexible working arrangements, said Alistair Niederer, CEO of NeedleRock.
Artificial Intelligence (AI) will continue to support flexible working models, a technological catalyst for the post-COVID-19 world. Using the focused improvement of the Spitfire fighter plane on the eve of jet engine technology as an analogy, Mike Havard, Chairman of the Board for Limitless Technology, warns CX leaders to not fixate on what currently works in the contact center. Rather, they must differentiate themselves by taking advantage of the new capabilities AI offers.
Evolving Needs in CX Delivery Facilities
Elias van Herwaarden, Head of Location Strategy with Colliers Occupier Services, pointed out that 45% of operators will increase their operations over the next few years. Ultimately, this growth drives location strategy. However, where will the work go? Selection factors not only lie with balancing cost and quality, but also with time zone flexibility, cultural affinity and language proximity. Statistics reveal that over the last five years, Western and Eastern European locations have benefited from the highest rate of FDI job growth, indicating that nearshoring has been the preferred strategy among buyers and operators.
CX Enterprise Buyers Trends
Some pertinent outsourcing buyer statistics were presented by Mark Angus, Founding Partner of GBS.World and CEO of Genesis Global Business Services, setting the context of this panel’s discussion. Understanding the best/right nearshore or offshore locations, accessing service metrics/rankings for service providers and lack of authentic reviews on service providers are among the top challenges buyers experience on the journey to locate suitable outsourced service providers.
When selecting a right-fit provider, alignment and a natural synergy to the culture of consumers and customers of the enterprise buyer is a key criterion, according to Graeme Matheson, Planning and Performance Lead of John Lewis & Partners. What’s more, an outsourcing partner must not be a mere vendor to the buyer enterprise, but an extension of the business – a strategic partner that advises and grows with the buyer, noted Jasen Shirley, Sales and Service Director of New York Life Insurance Company.
To win business, operators must provide a compelling (and honest) value proposition as to why an enterprise should opt for outsourced CX as opposed to using highly trained in-house agents, which was emphasized by Chandni Bhatt, Senior Manager of Beauty Pie.
However, there still exists a gulf between operators and buyers in terms of alignment of outcomes, as pointed out by Joel Walker, Co-Founder and COO of The Knowledge Group (tkg). Transparent and open conversations between operators and buyers are required to bridge this gap.
CxOutsourcers is a global CX mindshare group and forum for C-level decision-makers to get inside the buyer’s mind and be equipped with the latest global research and strategy to create their blueprints for success. Members are CX and BPO knowledge leaders, consultants and third-party operators who require strategy and best practice insights to steer their CX, contact center and BPO investment strategies.
The CxOutsourcers Group and Event was co-founded by Mark Angus of Genesis GBS and GBS.World with Peter Ryan of Ryan Strategic Advisory in partnership with Traci Freeman of Believe Consulting.
