Global Economy, Sourcing Get ‘Shot in the Arm’ in Q2
The global economy got a proverbial shot in the arm in the second quarter as COVID vaccines continue to be administered around the world.
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Learn MoreThere is a strong and growing market for managed services BPO, with contact center agreements contributing heavily to this growth. In the last three years, the demand for resilient and advanced digital customer experience (CX) increased, leading to a surge in investments activities in this space.
The growth of CX services has been phenomenal in the last couple of years, which reflects its growing importance among enterprises and their drive to ensure the best and most seamless experience for customers, with the intent of winning and retaining them. Enterprises are leaning on managed services partners to help them drive and transform their CX functions.
In today’s consumer markets, retail and consumer packaged goods (CPG) companies are becoming alike in their operations and aspirations due to changing consumer behavior, technological advancements and market dynamics. Notably, CPG companies are adopting a direct-to-consumer (D2C) sales approach to widen their customer reach through own-brand stores and online channels. Some major CPG brands aim to achieve more than half of sales through D2C channels. Even the companies that do not pursue D2C sales are improving their customer relationships through loyalty programs, highly personalized marketing and offers redeemable at stores.
Virtualization led by hyperscalers has accelerated among business and technology stakeholders globally. Heavy business reliance on virtualized environments for various workloads, including missioncritical applications, has made virtualization mainstream in the current IT market. Infrastructure modernization through virtualization has enabled enterprise clients to accrue the benefits of scalable network and storage capacity. In the pursuit of digital transformation, enterprises worldwide expedite the end-to-end digitalization of their business processes. Google Cloud, one of the leading hyperscalers, facilitates enterprises to gain a competitive edge through agility, flexibility and elastic scalability, translating into an elevated end-user experience. Service providers build their unique capabilities and functionality on GCP, which is leading the digital transformation space with the advanced technology required for redesigning and refining its relationships with product vendors, global system integrators (GSIs) and enterprise clients. The partner ecosystem comprises entities that establish a symbiotic relationship with listed products and offerings on GCP. Google and its partners rely on each other’s inherent expertise and technology prowess. While Google incorporates advanced partner services into its platforms, GSIs leverage the vast reach and innumerable benefits offered by Google to cater to enterprises’ client needs. By utilizing their extensive industry expertise, consulting partners ensure value generation to an enterprise through joint capabilities.
North American power and utilities industry may not drive global headlines but faces considerable headwinds such as increasing clean energy adoption (decarbonization), ensuring grid and service reliability and resiliency, improving infrastructure security, and optimizing costs.