Due to substantial reduction in operational costs,
Artificial Intelligence (AI) is extensively used by business organizations in customer
support activities area. Artificial intelligence systems perform tasks that
normally require human intelligence such as translation between languages,
speech recognition, translation visual perception and decision-making. This
technology increases productivity and reduces operational costs by enabling
handling of customer grievances and other interactions without human intervention.
It also helps provide multi-language support, manages support tickets in bulk,
and auto responding of bulk emails. According to a study by Oracle, nearly 8
out of 10 businesses have already implemented or planning to adapt artificial
intelligence in customer support by 2020.
The business support services industry comprises establishments
engaged in performing activities that are ongoing routine business support
functions that businesses. The business support services
market is segmented into Document Preparation Services, Telephone Call Centers,
Business Service Centers, Collection Agencies, Credit Bureaus, and Others -
Business Support Services.
THE BUSINESS RESEARCH COMPANY VALUED THE GLOBAL BUSINESS SUPPORT
SERVICES MARKET AT $31 BILLION IN 2017
North America was the largest region in
the business support services market in 2017, accounting for more than
one-third of the global market.
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The chart below shows the year-on-year growth of the
global business support services market during 2017 – 2021
According to The
Business Research Company’s Consultant, Oliver Guirdham, telephone
call centers have shifted towards Omni channel communication from the
traditional model. Omni-channel communication is synchronized operating model
in which all of the company’s channels are aligned and present a single face to
the customer, along with one consistent way of doing business. It allows
providers to give customers a more personal feel to resolutions. Customers can
get convenient and on-demand service.
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The
companies covered are Tata Consultancy Services Limited, Hewlett Packard
Enterprise Co, Genpact Ltd, A.T. Kearney, Inc., and Grant Thornton LLP. Tata
Consultancy Services Limited was the largest competitor in the market,
generating revenues of $1.3 billion in the year 2017. Tata Consultancy
Services’ growth strategy is to continually extend the core IT services business by expanding its geographic reach, to
develop mature capabilities to derive customer insights, building or acquiring
emerging business and adopting or creating new business models and business
solutions through regular innovation.
Business Support Services Global Market Report 2018 is a detailed report giving a unique insight into this
market. The report is priced at $4000 for an individual user. To use across
your office, the price is $6000 and $8000 if you wish to use across a
multinational company.
About
The Business Research Company.
The Business Research Company is a market research and
intelligence company, which excels in company, market and consumer research. It
has research professionals at its offices in the UK, India and the US as well a
network of trained researchers globally. It has specialist consultants in a
wide range of industries including manufacturing, healthcare, chemicals and
technology.
Contact Information.
The Business Research Company
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Email: info@tbrc.info
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