Customer Relationship Management
The customer relationship management (CRM) industry, otherwise known as the outsourced call center industry, is a global, multi ten billion dollar outsourced business services industry that is comprised of outbound and inbound call center services designed to help clients generate revenue and maintain customer satisfaction.
Once a cottage industry that provided only telephone answering services, the CRM industry has expanded to include outbound telemarketing, inbound customer service, help desk technology support and direct response services. This service expansion was achieved through the introduction of new call center technologies in the early 1990s, which made it more cost effective for large corporations and financial institutions to outsource their call center needs to smaller, independently owned CRM companies.
This cheaper solution started a massive outsourcing movement that caused the CRM industry to explode between the early to mid 1990s and early 2000s. Near-shore and offshore call center companies emerged in the late 1990s to compete with domestic call center companies for market share, but this was met with mixed results as U.S. customers reacted negatively to thick accents and communication challenges. There was also concern that the emergence of the Internet would destroy the CRM industry, however the opposite was true as online shopping generated an expansion in the Direct Response market.
The CRM industry did experience a negative shock in the mid 2000s, when the federal government enacted the Do Not Call (DNC) legislation. Designed to enable consumers to opt out of receiving telemarketing calls, this legislation became an administrative nightmare for CRM companies and their clients. In some instances, CRM companies shut down their telemarketing business altogether! Still the industry survived and continued to thrive as more resources were put toward new inbound and outbound call center solutions, including work-at-home agent (WAHA), Hispanic focused call centers and remote help desk technology support, among others.
Today, the CRM industry continues to evolve and become more global. It continues to offer new growth opportunities for those who understand how to leverage people, process and technology. Kaulkin Ginsberg has enjoyed a successful history of helping CRM companies to grow and sell, and looks forward to continuing this trend well into the future.
Western Wats Center, Inc. (WWC), the largest independent quantitative market research firm in the US, sale to American Capital Strategies, Ltd. (NASDAQ: ACAS).
- A letter from Western Wats (PDF – 150k)
Teleperformance (Euronext: FR 0000051807), the world’s co-leading provider of outsourced CRM and contact center services, acquired AllianceOne, a leading U.S. Accounts Receivable Management (ARM) company.
- A letter from Teleperformance
(PDF – 252k)
Kaulkin Ginsberg is pleased to announce the sale of O’Currance Teleservices, Inc., a portfolio company of Riverlake Partners. O’Currance is one of the leading providers of direct response marketing telesales services in the U.S. ...
The Consumer Credit Market
March 25, 2015
Since the Great Recession, the road to recovery for the accounts receivable management (ARM) industry has been particularly bumpy. Adjusting to economic fluctuations has been challenging for service providers and big business clients alike, especially when state and federal government agencies continuously impose stronger regulations in an effort to shift blame and find their scapegoat.
ARM firms who adapted their business practices are capitalizing on... ....
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Moving Forward with Debt Financing
March 19, 2015
In January, we discussed the three main options available for financing an acquisition. Most of us don't have an extra $1 million on hand, so it's important to understand debt financing and the impact of interest rates - above and beyond making you pay more.
How do interest rates work?
The interest rate you pay on loans is the product of the real and nominal interest rates. Banks like to use the 10-year treasury rate as their benchmark metric for the.......
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Why aren't Businesses Saleable?
March 18, 2015
Is your business saleable?
Business owners spend years - in some cases, generations - operating their businesses as successfully as possible. However, many fail to properly plan when it comes time to sell. Instead of making certain their companies are well-positioned to receive the best price, they respond prematurely to a potential buyer's direct solicitation. Planning for a sale can mean the difference between selling for top dollar and not completing a... ....
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Hyatt Regency Washington on Capital Hill
April 14th-16th, 2015
Why is right now so important? The beginning of the 114th Congress is upon us. As a result of the November elections, Republicans now control both the Senate and House, and there is a new determination to get things done. New congressional members are now learning what they need to know about the issues and concerns.......
FHI360 Conference Center
April 23rd, 2015
insideARM.com and the iA Institute host the third annual Larger Market Participant Summit.
This exclusive event caters to the unique interests of the larger firms in the ARM industry, with unparalleled peer networking, best practice discussion, panels focused on the latest issues... and no exhibit hall.
For senior executives only,.......
Four Seasons Hotel
Las Vegas, NV
May 6th-8th, 2015
This content rich educational conference gives the techniques, strategies and resources for maximizing collection and recovery outcomes. Our goal is to enrich the intensity of the conference for the exhibitor, attendee and sponsor alike with an unparalleled learning experience. This is an exclusive gathering of industry professionals like none.......