CLEVELAND, September 22, 2022 /PRNewswire/ — Contact centers were forced to become more agile in response to the COVID-19 pandemic, escalating timelines for technology adoption, remote work and omnichannel customer engagement, according to a released industry report. from the Business Services investment banking team at Brown Gibbons Lang & Company (BGL).
Read Business Services Insider – Midgame Pilot: Contact Center Industry Quickly Adapts to Market Forces: https://bit.ly/BusServInsider
The report examines emerging trends as well as the current state of the contact center M&A market, where consolidation is continuing in a fragmented landscape.
- Technology is transforming customer care. The migration to the cloud has made artificial intelligence (AI), machine learning and predictive analytics more practical and accessible. Organizations are investing in AI capabilities directly contributing to improved customer experience (CX), cost savings and operational efficiency.
- Customer needs and expectations are constantly evolving and interaction levels are rapidly increasing, with a multi-channel service approach now expected to deliver a frictionless, cohesive and personalized customer experience. Focused on providing ever-improving levels of customer service, the contact center is now seen as a critical component to maintaining and increasing brand loyalty versus being a necessary cost of doing business.
- Working from home is a permanent change in service delivery, promoting higher employee and customer satisfaction while reducing operating costs.
- As technology transforms CX solutions, it is also impacting M&A activity, with digital-first service platforms in high demand. Acquisitions remain a key lever in value creation as buyers seek to enhance digital capabilities and diversify industry verticals and geographic markets. The proposed merger of Sitel Group and Majorel and the acquisitions by WNS (Vuram) and Teleperformance (Senture) are examples of recently announced strategic transactions. Bain Capital (VXI Global Solutions) and ChrysCapital (ResultsCX) are among the private equity sponsors to create growth platforms in the contact center space.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is an independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructuring, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, The angelsAND New Yorkand real estate offices in Chicago, ClevelandAND Saint Anthony. The firm is also a founding member of Global M&A Partners, enabling BGL to serve clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
SOURCE Brown Gibbons Lang & Company