The emerging Back Office Workforce Optimisation (BOWFO) market is being viewed as an attractive, emerging category with high growth potential, according to the latest report into the Back Office conducted and launched by analyst house Frost & Sullivan.
The Report – Back Office Workforce Optimization (BOWFO): Driving Enhanced Customer Experience with Real-Time Back Office Intelligence – is now available for download on its website and will be co-promoted by eg solutions, the pioneer and pacesetter in enterprise workforce optimisation software for the back office.
Frost & Sullivan defines BOWFO as a software solution that helps manage people, processes and workflow in the Back Office to improve operational effectiveness, customer service and compliance.
The Report – one of the first of its kind into this emerging market, states "...the Back Office represents a vast and largely untapped reservoir of the type of performance improvement that the contact center has enjoyed for years. Operating an array of customer related operations processes the Back Office may rightfully claim to be the engine that drives organizational performance from behind the scenes. Back Office Workforce Optimization (BOWFO) provides a way to tap that reservoir."
"All customer-centric companies agree that a well-managed customer experience is a key differentiator," says Alexander Michael, Director of Consulting at Frost & Sullivan. "What few people realise is that most activities that ensure a consistent customer experience actually take place in the back office. For this reason, optimising the performance of the back office directly influences profitability."
The Frost & Sullivan report is the most detailed into the emerging BOWFO market from a globally recognised analyst house, defining what it is and how it works, as well as detailing the benefits of improved performance, better customer experience, evidencing compliance, targeted professional development, and employee empowerment. It goes on to share key considerations in BOWFO vendor selection, profiles how one company, The Life & Pensions Servicing Division of Capita benefited by deploying a BOWFO Suite and gives its view on this emerging market.
Elizabeth Gooch, CEO, eg solutions, stated: "This welcome Report highlights those market drivers pushing the sector to the forefront of the enterprise's mindset, not least the need to control processes through transparency, BOWFO's increased ability to provide a quick return on investment and greater efficiency, as well as the increasing recognition of the importance of customer service improvement."
"We have known for many years that the Back Office is a major contributor to the success of an enterprise and given the potential for impacting the customer experience, efficiency and compliance, it plays a vital and increasingly strategic role. This Report is the most comprehensive available today on what is driving the market, as well as what companies should be looking for in BOWFO solutions and vendors as they seek to optimise their Back Office, " concluded Elizabeth Gooch.
The Report can be found at: http://info.egoptimize.com/fsreport/