Business and financial services quarterly update: Q1 2022

As billing models are disrupted due to competition and pricing concerns, firms will likely implement cost-effective solutions over expensive diagnoses centered on actual billing hours.

Business and financial services trends

  • Business process outsourcing
    As the world becomes more globalized, there is an increasingly growing demand for bilingual (English/Spanish) virtual assistants within the BPO industry.1
  • Consulting
    As billing models are disrupted due to competition and pricing concerns, firms will likely implement cost-effective solutions over expensive diagnoses centered on actual billing hours.
  • Education and training
    As the prevalence of technology has grown, students’ attention spans have significantly decreased. As a result, educational content has grown more interactive and multimedia-intensive in recent years to garner and hold students’ interest.2
  • Financial services
    The customer digital experience is ranked as the number one business challenge and investment focus for banks as institutions look to adjust to recent remote notary laws that allow new types of documents to be notarized digitally.3
  • Insurance, legal, and risk services
    More than 40% of Insur Techs are focused on the marketing and distribution segments of the insurance value chain, helping to enable them to solve customer pain points through a digitally enhanced client experience.4
  • Staffing and recruiting
    As starting salaries for professional occupations are expected to increase by 3.8% in 2022, a larger mark-up potential for recruiters will make the staffing market an even more attractive destination for growth.5

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