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Tuesday 15 May 2018

Convergys shares rise on sale talks

convergysShares at customer services giant Convergys are up some 13% since speculation rose that it was looking for a buyer. The Cincinnati-based company, which has a market cap of just over $2bn, would be the latest in a line of contact centre players looking to consolidate. 

Convergys has about 150 locations around the globe (including the UK) that provide customer care, analytics, tech support, collections, home agent and end-to-end selling. In January it announced that CEO Andrea Ayers would leave her role after nearly 30 years at Convergys, including more than five at the helm, signalling a change in direction for the business.

Convergys like its rivals is being put under pressure by the shift toward the automation of customer-service functions and by consolidation among its client base. Traditional contact centre businesses are being caught between the need to invest heavily in automation technologies and delivering an increasingly commoditised service where margins remain under pressure.

This is helping trigger a wave of consolidation as companies seek scale to cut costs and invest more to transform their businesses. Earlier this year German media giant Bertelsmann announced that it is looking to offload Arvato CRM and we expect others to follow suit.

Posted by Marc Hardwick at '09:21' - Tagged: contactcentre   customerexperience   consolidation   convergys  

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