Arise Virtual Solutions Inc., the worldwide leader in work-from-home customer support, today announced its platform was recognized as a Leader in Cost Optimization Capability in NelsonHall’s NEAT Report for Customer Experience (CX) Services in Banking, Financial Services, and Insurance (BFSI).
“We are genuinely excited to be named a Leader for Cost Optimization Capability in NelsonHall’s NEAT Report. It is true confirmation of the wonderful value our virtual-first platform provides BFSI Brands,” says Scott Etheridge, Arise’s CEO. “We often speak of our Total Partner Value delivering significant cost savings over other BPO solutions. The recognition given by NelsonHall proves the platform’s ability to deliver immediate benefit while also ensuring future success.”
Led by Ivan Kotzev, NelsonHall’s CX Services Lead Analyst, NelsonHall evaluated 13 business process outsourcing (BPO) vendors in its NEAT Report assessment. Arise was named one of six BPOs in the Leaders category for Cost Optimization Capability.
To determine which companies fell into the Leaders, High Achievers, Innovators, and Major Players categories, NelsonHall evaluated each vendor’s ability to meet future client requirements as well as delivering immediate benefits to its CX services clients, including with specific capability around optimizing cost. Six subdimensions were analyzed to include: Offerings, Delivery, Market Presence, Benefits Achieved, CXS in BFSI Investments, and Perceived Suitability by CXS Clients.
“Arise emerged as a Leader in the NEAT Report’s Cost Optimization market due to its leading position in work-at-home delivery with operational frameworks, a proprietary technology stack, and implementations in the BFSI space,” said Kotzev. “Their best practices in virtual sourcing, learning, and engagement experience in BFSI were also contributing factors.”
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Four additional factors contributed to Arise’s solid positioning: Investments in automation and real-time analytics; building capabilities for CX consulting to assist sector clients in their front-office digital transformation; developing delivery presence in nearshore North America to support growing BFSI requirements; and expanding BFSI case studies in asynchronous chat and messaging channels.
Continued Etheridge, “The majority of Brands we work with come to Arise to transform their CX capabilities. Our virtual-first network of 70,000 Service Partners allows BFSI Brands to flex capacity up to 200%, improving their ability to meet customers on their time and their channel. Using a cutting-edge, virtual-first learning platform, Arise speeds time-to-proficiency by up to 30%, meaning that BFSI Brands can roll out new programs and react to market conditions with increased speed and agility. Arise is empowering our customers to elevate their CX capabilities and drive customer and revenue growth.”
Also cited in the NelsonHall report was Arise’s strong security practice with investments in biometrics, monitoring technology, and remote workplace expertise.
Says Etheridge, “Safeguarding customer information and privacy is of utmost importance to Arise. Even though the pandemic prompted greater confidence in work-at-home solutions, we still need to remain proactive and vigilant against those who are looking to commit fraud. That’s why innovation in security remains at the forefront for Arise.”
Kotzev adds, “In an environment of increasingly unpredictable volume patterns in CX services and rapidly changing customer behavior, the flexible delivery model and variable commercial terms available on the Arise® Platform address growing BFSI demand. The company’s significant experience and technology investment to support distributed work, work-at-home, and gig work offer scalability and immediacy to support BFSI market needs.”
About the NEAT Report
The NelsonHall Vendor Evaluation and Assessment Tool (NEAT) for strategic sourcing managers are part of NelsonHall’s “Speed-to-Source” initiative. The NEAT tool analyzes the performance of vendors offering CX services in the Banking, Financial Services, and Insurance industries. It allows strategic sourcing managers to assess the capability of vendors across a range of criteria and business situations and identify the best performing vendors overall and with specific capability in cost optimization, revenue generation, and CX improvement. Evaluating vendors on both their “ability to deliver immediate benefit” and their “ability to meet client future requirements,” vendors are identified in one of four categories: Leaders, High Achievers, Innovators, and Major Players.
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