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Spending by the Financial Sector on Contact Center Technology is Expected to Increase by 3.5% from 04 to 09
DUBLIN, Ireland --(Business Wire)-- May 18, 2006 -- Research and Markets (http://www.researchandmarkets.com/reports/c37134) has announced the addition of Selling Contact Center Technology to the Financial Services Sector - Market Focus to their offering.
The lions share of contact center spending has mostly come from the financial services industry. Yet, global financial sector spend will increase at a rate of 3.5% from 04 to 09 and this spending pattern will be concentrated in North America and EMEA. This brief looks at how vendors can capitalize on this in a mature market.
Scope of this title:
-The financial services sector has long led the contact center industry, yet it is generating spending growth at a marginal rate.
-The chief reason for the small yet vital growth is an emphasis on improving productivity and profitability.
-Marrying technology offers with the financial sectors concerns about productivity and profitability can help vendors exploit this market.
Highlights of this title:
Vendors are inclined to demonstrate that the financial services sector should invest in contact centers and specific technologies because they offer good ROI and cost reduction techniques. This is not a story the banks necessarily want to hear.
With customers using any combination of the channels available to them, it is essential that financial institutions form a consistent multi-channel strategy. Offering a range of channels is a step in the right direction, yet increasingly they remain siloed and as such are not fully coordinated with the contact center.
Reasons to order your copy:
-Understand how implementing the right technologies will drive productivity and deliver profitability.
-Identify the key attributes vendors need to highlight to attract financial institutions attention.
Topics Covered
CATALYST
Overall domestic agent position growth is slowing or declining in North America and Western Europe. However, technology and business changes - including IP telephony, virtualization, managed and hosted services, workforce optimization technologies, SME sector growth, and increased public sector spending - are driving increased investment. Consequently technology spending will continue to rise, but learning exactly how to tap into it will be more critical than ever.
SUMMARY
METHODOLOGY
ANALYSIS
As a contact center industry expenditure leader its spending growth is at a marginal rate
North America needs alternative contact center services to enable growth
EMEA is overshadowed by Western Europe for technology spending
The chief reason for the small yet vital growth is improving productivity and profitability
A right balance of technologies is needed to drive productivity and profitability
Outbound services in the regulation era can impact on the productivity and profitability of finance institutions - but it doesnt need to!
True multi-channel capabilities are an absolute necessity
Compliance can not be compromised when improving productivity and increasing profitability
An increase in mergers and acquisitions within the financial services market may lead to networks within networks
Marrying offers with financial services concerns can help vendors capitalize on this market
Key tactics to maximise a go-to-market strategy
APPENDIX
Definitions
Further reading
Ask the analyst
List of Tables
Table 1: Financial Services contact center technology spending
Table 2: EMEA contact center technology spend and agent positions growth 2004 vs 2009
List of Figures
Figure 1: Financial service agent positions
Figure 2: European and North American Retail Banking IT strategy
Figure 3: Retail banks progression towards a predictive approach to customer service
For more information visit http://www.researchandmarkets.com/reports/c37134
Source: Datamonitor
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