Algar Tech's innovation vertical structure to improve processes and operations gives it a significant competitive edge
SÃO PAULO, May 10, 2017 /PRNewswire/ -- Based on its recent analysis of the contact center outsourcing industry, Frost & Sullivan recognizes Algar Tech with the 2016 Brazilian Frost & Sullivan Award for Competitive Strategy Innovation and Leadership. With a revenue growth rate of 7.4% in 2015, Algar Tech outstripped the overall Brazilian contact center outsourcing industry and expanded its customer base, as well as grew in new markets such as debt collection. This growth was the result of its focus on reducing the costs of outsourcing through customer service digitization and ensuring greater efficiency through non-humanized customer contact channels.
"Algar Tech understands its customers' business requirements and value chains and helps them improve their efficiency by substituting calls with self-service, ensuring greater convenience and agility," said Frost & Sullivan Senior Industry Analyst Maiara Munhoz. "In a short period, Algar Tech can facilitate important changes in the process scope, which enables it to nurture long-term relationships with its contractors."
The company has been striving to leverage its IT outsourcing (ITO) business expertise to improve its BPO operations. It currently has three main missions:
- Transforming Operations: This is achieved through Algar Tech's Innovation Factory that improves customer experience, increases operational margins, and finds new solutions to existing problems. Algar Tech and its customers make use of interesting concepts such as design thinking, co-creation, and ideation through the Innovatrix method to collaboratively build prototypes and test hypotheses for new models and solutions.
- Company Disruption: Transforming Algar Tech into a simpler, more digital company Thinking Outside the Box: Acquisitions of and partnerships with start-ups to increase competitiveness, improve customer experience, and generate more business
Algar Tech's Innovation Factory is a vertical structure for finding new ways to conduct existing processes and improve operations. It aims to analyze technological innovation tools and enhance software innovation to improve the company's competitiveness. The project involves three tools for advancing engineering methods and techniques:
- Traceability: Designing a new model for the management of traceability of artifacts in software development projects, with code and document management
- Reuse of Components: Creating a library of reusable software components
- Framework for Code Modernization: Developing a tool to accelerate source code migration from legacy programs through the automation of existing components and integration with the new
"Algar Tech's 100% digital customer service proposition, using mobile applications, interactive voice response, social media, and WhatsApp, is much more efficient and less expensive than traditional, humanized channels," noted Munhoz. "Through its software business unit, Algar Tech has developed applications that enable it to reduce the volume of inbound calls and transfer these to other, more agile contact channels. This results in reduced costs and enhanced customer experience."
Significantly, in 2014, Algar Tech acquired Lince Analytics; thereby, incorporating Big Data solutions into its portfolio and enriching its customer experience management tool, GEXP. This tool helps it gauge consumer behavior based on different customer interactions with the brand, giving the company access to a large volume of customer data, as well as professionals who know how to use such data to enhance customer experience.
By investing in key disruptive initiatives such as the Innovation Factory, competitive differentiation, and reducing contractors' costs through channel digitization, Algar Tech has set itself apart and positioned itself for high growth in the future.
Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a competitive strategy that results in stronger market share, competitive brand positioning, and customer satisfaction.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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SOURCE Frost & Sullivan