A Benchmarking System to Spark Companies to Action - Innovation That Fuels New Deal Flow and Growth Pipelines
Customer experience (CX) is becoming the primary factor impacting customer loyalty and the key differentiator deciding a business’ fate. Demand for outsourced CX services is growing steadily in today’s consumer-centric marketplace as customers demand more personalized, relevant, proactive, and engaging experiences. A superior end-to-end CX journey builds loyalty and provides upselling opportunities.
The LATAM CXO services market was significantly hit by the pandemic in 2020. However, the negative impact was not as significant as in other economic sectors. Some positive trends were accelerated, bringing renewed business prospects. Social distancing regulations across the region did not allow consumers to visit shopping malls and physical stores, thus leaving the remote connection as the only way to engage with brands. This situation generated significant growth opportunities for many CX and BPO vendors and elevated the status of the CXSPs in the economy. Moreover, as people spent more time isolated in their homes, they yearned for human connection and reached out more often to brands to speak with human agents.
While the publisher's research on this market includes close to 100 SPs, this Frost Radar™ profile the 13 more significant players in terms of market reach, user adoption, growth rates, product innovation and customer experience. The analysis is based on a set of 10 criteria, as outlined below.
Growth index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user-focused sales and marketing strategies.
- GI1: Market Share (previous 3 years)
- GI2: Revenue Growth (previous 3 years)
- GI3: Growth Pipeline
- GI4: Vision and Strategy
- GI5: Sales and Marketing
Innovation index (II) is a measure of a company’s ability to develop products/services/solutions that are developed with a clear understanding of disruptive Mega Trends, are globally applicable, are able to evolve and expand to serve multiple markets, and are aligned to customers’ changing needs.
Key elements of this index include:
- II1: Innovation Scalability
- II2: Research and Development
- II3: Product Portfolio
- II4: Megatrends Leverage
- II5: Customer Alignment
The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. The publisher analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Table of Contents
1. Strategic Imperative and Growth Environment
- Strategic Imperative
- Impact of COVID-19
- Growth Environment
2. Frost Radar™
- Frost Radar™: Customer Experience Outsourcing Services Market in Latin America, 2020
- Frost Radar™: Competitive Environment
- Frost Radar™: Competitive Environment - Shifting Innovation Frontier
- Frost Radar™: Competitive Environment - Key Growth Strategies
3. Companies to Action
- Algar Tech
- OneLink BPO
4. Strategic Insights
5. Next Steps: Leveraging the Frost Radar™ to Empower Key Stakeholders
- Significance of Being on the Frost Radar™
- Frost Radar™ Empowers the CEO’s Growth Team
- Frost Radar™ Empowers Investors
- Frost Radar™ Empowers Customers
- Frost Radar™ Empowers the Board of Directors
6. Frost Radar™ Analytics
- Frost Radar™: Benchmarking Future Growth Potential
A selection of companies mentioned in this report includes:
- Algar Tech
- OneLink BPO