Contact Center Applications Market Trends in Vietnam

Contact Center Applications Market Trends in Vietnam Dao Thi Minh “Thao”Information & Telecommunications Technology PracticeFrost & Sullivan Asia-Pacific5th April 201223Major Market Trends Customers’ Challenges1Introduction – Market Condition and Situation4Key Drivers for Growth675Top 3 Applications in Vietnam & Future OutlookKey Takeaways/ ConclusionSuggestions for CC apps VendorsAgendaVietnam’s Market Condition and Situation“Vietnam is one of the fastest-growing countries in the region, with annual GDP in recent years at 7-8.5%. Information and Communications Technology happens to be one of the strongest economic sectors that contributes to the significant development of Vietnam’s economy in few years back and towards the future. In 2011, the contact center applications market in Vietnam was estimated to be worth $ 5.1 million, growing at 19% over the previous year.” Vietnam’s Contact Center Market TrendsCustomers' ChallengesPrice sensitivity: While consumers want quality and understand that quality comes at a premium, most buying decisions are highly price-sensitive.IT Infrastructure: Though ICT industry in Vietnam is growing at the healthy rate with much improvement in IT infrastructure and bigger bandwidth. IT infrastructure is not at the very good level for IP adoption and unified communications solutions yet.Low awareness: Many enterprises still have not seen how important contact centers are for their businesses’ operations. Key drivers for growthGlobalization: Vietnam opens the economy door for foreign investement. More international companies enter the domestic market and creates a fierce competition with local businesses. It leads to a focus on Customer Relationship Managerment and one of its tools – Contact Center.Certain verticals have requirement for Contact Centers to serve customers like Telco and BFSI especially with more branches are opened with an ever expanding customer base. Telemarketing: starts catching up with the global trends.Social Networking is booming! Along with the explosion of Internet and transparent information. Social networking gains popularity as ever and becomes one of the tools for contact center to serve customers better. Low cost of employment: Vietnam with a strong workforce and lower labour cost comparing to many other countries in the region and in the world. Top 3 Applications and Future OutlookTop three applications in the market are ACD (Automatic Call Distributor), CTI (Computer Telephony Integration) and IVR (Interactive Voice Response).ACD is the biggest contributor and still growing at a fast rate as majority of contact centers’ primary purpose is to support incoming voice calls.For the near future outlook, Outbound, Multimedia, Call Monitoring and WFM (Workforce Management) are taking trends to increase popularity. Suggestions for CC Apps VendorHave better marketing, promotion campaigns.Focus on other potential verticals such as Government, Travel & Hospitality, Manufacturing, Education and Healthcare.Have more competitive and flexible pricing schemes. Embedding more value to products and solutions. *Picture from GoogleKey Takeaways/ ConclusionVendors keep recognizing Vietnam as a good prospect.Contact Center Apps continue to grow in the country on the back of an expanded presence.Future of Outsourcing, Social Media and other Contact Center Apps. Frost & Sullivan on Facebook, LinkedIn, SlideShare, and Twitter