Customer Relationship Management Outsourcing Market offerings Modern Communication & Social Media Platforms

Global CRM outsourcing market is segmented on the basis of service, industry, and geography. On the basis of industry, the CRM outsourcing market is segmented into Banking, Financial services and Institutions (BFSI), telecommunication industry, travel and hospitality industry, healthcare sector, retail industry, government, manufacturing, insurance, education industry, and utility sector. Retail and BFSI are the industries holding major market shares in the CRM outsourcing market.

Furthermore, on the basis of services, the market for CRM outsourcing is segmented into telemarketing services (outbound sales activities, inbound sales, cross-sell, up-sell), order management services (book/order taking, subscription services, account activation, cancellations), customer services (general inquiries, billing management), and technical support services (equipment installation service, troubleshooting, software usage/activation, remote resolution). Asia Pacific was one the fastest growing geographical region in terms of revenue and market share for CRM outsourcing market.

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India and Philippines are the most prominent call center destinations, however offshore destinations are becoming broader including regions such as Eastern Europe and Latin America.

Outsourcing is a process where an organization selects an efficient third party service provider to effectively manage and operate its customer relationship management unit. Outsourcing of the CRM activities has emerged as a promising solution to meet increasing demand for quality CRM activities and rising costs associated with it.

The CRM industry is in the process of revolutionizing itself with the addition of new services offerings such as modern communication and social media platforms. In addition, the CRM activities, which provide flexibility for both clients and workers, are posed to generate greater revenue opportunities. In the last few years, trend of CRM outsourcing has grown significantly among large-sized organizations and it is further expected to attract large numbers of mid-sized organizations in following years.

In some cases of outsourcing, the entire information technology and management system is outsourced, while in some other cases, only key application services such as CRM, billing system, and Enterprise risk management (ERM) are outsourced.

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