Vendor Analysis
published on Nov 23, 2016
Report Overview:
This NelsonHall vendor assessment analyzes Sitel's offerings and capabilities in CMS in Retail Banking.
Who is this Report for:
NelsonHall’s CMS in retail banking industry sector profile on Sitel is a comprehensive assessment of Sitel’s retail banking sector customer management services (CMS) offerings and capabilities, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of CMS to serve the retail banking sector and identifying vendor suitability for CMS RFPs
- Vendor marketing, sales and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Sitel’s retail banking offerings, capabilities, and market and financial strength, including:
- Identification of the company’s strategy, emphasis and new developments
- Analysis of the company’s strengths, weaknesses and outlook
- Revenue estimates
- Analysis of the profile of the company’s CMS retail banking customer base, including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s retail banking sector CMS offerings and key service components
- Analysis of the company’s delivery organization including the
- geography of delivery locations used for CMS retail banking sector clients.
Key Findings & Highlights:
Sitel Worldwide (Sitel) is a pure-play customer management services (CMS) company. In 2016, it moved its headquarters from Nashville, Tennessee to Miami, Florida (U.S.). Currently, Sitel has ~75k employees supporting ~400 clients in 48 languages from 146 facilities located in 22 countries.
The former ClientLogic was founded in April 1998 by Onex Corporation, with the acquisition of a single contact center in Toronto, Canada. Between 1998 and 2006, it undertook a number of organic growth initiatives and made several acquisitions that helped build its infrastructure and develop process capabilities.
In January 2007, ClientLogic acquired Sitel Corporation which was founded in 1985, for $450m, to form Sitel Worldwide. The Sitel acquisition brought significantly increased scale.
In July 2015, the French organization Groupe Acticall acquired Sitel for $400m. Groupe Acticall is primarily invested in by the Mulliez family which is based in France.
In the mid-1980s, legacy Sitel supported the insurance and publishing sectors on the inbound side of the business, and insurance with outbound sales support. When ClientLogic acquired Sitel it had a strong global operating system that enhanced its technical support offering and provided consistency. Two years ago, Sitel became less reactive and more proactive; it built an offering to support warranty coverage and out of warranty customers.
