The global outsourcing market is expected to be valued at $114 billion by 2025 * and for Duluth-based global outsourced communications company, Moneypenny, business is booming, having grown its US revenues by 45% in 2019, and by 315% in 2020.
As businesses emerge from the pandemic, and hybrid working takes shape, there has been a rise in outsourcing, from IT to sales and from recruitment to reception. This uptake allows in-house talent to focus on what matters most to them, strategic activities or projects that better suit their skill set, whilst also reducing costs and growing revenues.
Despite an initial fall in call volumes handled by Moneypenny during the first pandemic lockdown in 2020, demand for its services soared as the company took on many new clients who struggled to adapt their communications to cater for their staff working from home. In particular, Moneypenny acquired new clients in sectors that grew the quickest, such as online retail, franchise legal, financial, property, and healthcare, and new inquiries were frequently from large businesses that had to re-think their office and communication channels during lockdown. A dramatic increase in demand for Moneypenny’s services was seen in the explosion in the use of its Live Chat services, usage of which has doubled since the start of the pandemic.
Far from hunkering down during lockdown, Moneypenny also made gains by innovating and developing new products, and in fact, put a third of its technology budget into NPD in 2020. Moneypenny also provides Microsoft Teams integration with its clients and is at the forefront of developing and adapting new AI (Artificial Intelligence) and NLP (Natural Language Processing) technology to make call answering and routing even more efficient.
Moneypenny CEO (North America) Eric Schurke comments; “People and technology are at the heart of all we do at Moneypenny, and we are delighted that through our mission to support businesses of all shapes and sizes to grow, innovate and succeed, that we are growing our Duluth business.
“While the past year has been a difficult one it has forced businesses to reprioritize, focus on what they are good at, and look to the experts for support, providing flexibility and supporting business resilience. As a nation, we have also adopted technologies that we may, previously, have not considered, in order to connect at home or in business, and quality conversations are now available and on the rise. For example, demand for our Live Chat services has doubled this last quarter, combining gold standard technology with real people to deliver great customer web experiences.
“What is more, our unique culture here at Moneypenny, has provided much-needed camaraderie for our people and our clients throughout remote working, keeping morale high and productivity at exceptional levels. Happy people equal happy clients.”
Moneypenny is always on the lookout for PAs and Live Chat agents, who have a can-do attitude and the passion to wow their clients by answering their phone calls and live chats brilliantly and efficiently as though they are based in their client’s offices. For applications or inquiries please email [email protected]. Roles available are both part and full time and on-site and remote.
*Stats are from Feb 2021 https://www.statista.com/statistics/189788/global-outsourcing-market-size/