Study Advises Latin American Markets

January 07, 2016

New analysis from a leading market researcher is showing Latin America what much of the world already knows: The Omnichannel effort can pay big dividends in the contact center industry.

That’s one conclusion Frost & Sullivan (NewsAlert) (F&S) reached in its new report, “Latin American Contact Systems Market 2015.” The recently released study has a trove of solid information for decision makers, noting that “Contact center analytics, workforce management and quality monitoring applications are gradually capturing companies’ attention,” especially in Latin America.

Moving into a new direction is sure to pay big dividends.

“Companies have begun to realize the importance of speech, voice and process analytics; workforce management and quality monitoring applications,” Frost & Sullivan Digital Transformation Industry Analyst Maiara Paula Munhoz said in a statement. “The poor economic scenario in Brazil and other Latin American countries translates to higher demand for these applications among companies that wish to boost productivity and efficiency, optimize costs and retain customers.”

Brazil, which accounts for almost half of the total revenues in the Latin American contact center systems market, is in the midst of an economic and political crisis, F&S noted.

“With inflation in the country reaching 9.2 percent and uncertainty plaguing most markets in the region, contact center system vendors need to reinvent themselves for survival,” F&S said. “They should also offer more innovative solutions to help their customers increase productivity,” they added.

“Organizations will gravitate to hosted and cloud-based contact center systems as their total cost of ownership is lower than that of premise-based solutions,” Munhoz noted. “Secondly, the shift from a capital expenditure model to an operational expenditure model will simplify cost management for companies.”

Frost & Sullivan also said the devaluation of Latin American currencies against the U.S. dollar is dampening investments in contact center systems, as deals are struck in dollars. Colombia, Mexico and Brazil will be particularly affected as their currencies are expected to be devaluated by 24 percent, 14 percent and 40 percent, respectively.

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