As we enter a new year, here is the 2020 perspective of VXI in which we highlight VXI’s remarkable 2020 in CX outsourcing and what we may expect in 2021.
VXI was able to weather the 2020 COVID-19 crisis through teamwork, adaptation, client responsiveness, and fiscal responsibility. Because VXI was able to remain strong and focused, we move into the new year with confidence.
Yet a pandemic is still upon us as 2021 begins. Vaccines are available, but it will be months before many of us have access to them. Uncertainty remains. As we start the new year, let us celebrate the fruits of our struggles over the last 12 months and appreciate the remarkable accomplishments of a historic 2020 for
SETTING THE STAGE
A lifetime ago, back in 2019, VXI enjoyed the best year in its two-decade history. Our
Business Process Outsourcing (BPO) company set revenue records, hit an all-time high in employee headcount (35,000 global teammates), and enjoyed a multi-year 12% Compound Annual Growth Rate (CAGR) that was significantly better than the industry average. In short, we were (and still are) one of the most successful, most efficient, and best-run BPOs in the marketplace.
2020 promised a continued global growth trajectory. Three new sites opened, bringing our total to 43 locations. VXI’s Customer Experience advisory services launched to support enterprise clients by co-creating their five-year innovation roadmaps. The award-winning VXI agent learning platform entered full commercialization, and much more; and then, 2020 happened.
SAFETY AND BUSINESS CONTINUITY
No BPO company was spared over the dramatic impact of the COVID-19 pandemic. According to the Call Centre Management Association (CCMA), BPO companies were compelled to jump forward five years into the future within three months to cope with the pandemic. Although BPO operations were already going down the path, according to Frost & Sullivan, the health crisis required entities to focus and accelerate decision making.
When the global health crisis hit in January 2020, VXI was among the first outsourcing organizations to move into action. Thanks to our strong presence throughout China (10 locations), we early on
recognized the significance of the coronavirus threat. VXI executives formed emergency taskforces and began building contingency plans for what we realized was a crisis facing the modern world of epic proportions.
We developed a singular mission to focus on just two priorities:
Employee Safety and Business Continuity. Our goal was to ensure employee health and wellness and maintain their source of income. One way VXI made safety and business continuity possible was by housing 11,300 Philippine employees in hotels for nearly three months so they could continue working in office environments while operating a “bubble” environment. We deployed 325 vans to shuttle them to and from work every day, therefore reducing the likelihood of VXI personnel infecting their families. This was just one of VXI’s unprecedented moves to maintain people’s source of income.
During this time, client accounts experienced significant changes with categories like hospitality and ride-sharing suffering the most from pandemic lockdowns while areas like telecommunications and government services seemed to almost double in volume overnight. VXI balanced these extraordinary disruptions expertly by maintaining a constant focus on employee safety.
As employees felt the sincere need to help each other, heroes were made. Employees pulled extra effort into ensuring safety by giving their extra time and energy, and some even shared their private vehicles to transport co-workers to and from work for free.
In another unprecedented move, in less than 90 days VXI’s IT and Operations teams shifted 50% of VXI employees to Work-At-Home (WAH) or hybrid remote working environments. This maintained social distancing in the office while providing ongoing business continuity and nonstop services for our clients. In a grand show of genuine concern and cooperation, VXI employees from the Facilities Team, Operations Managers, and Team Leaders worked together to make WAH possible.
This extraordinary feat allowed VXI to nimbly adapt to a new way of doing business across our global footprint without sacrificing business continuity. For example, the new WAH model in the United States has enabled the company to expand its talent acquisition into 20 new cities where it recruited 1,200 new remote employees in the second half of 2020 alone.
Line-of-Business (LOB) was impacted by the health crisis and most simultaneously experienced a once-in-a-lifetime business disruption. They needed business continuity and confidence in operations. Many began reassessing their geographic risks across their portfolios of offshore, nearshore, and domestic outsourcing hubs. This prompted VXI’s rapid development of WAH offerings – and today the company offers one-third of its workforce as WAH agents. Like most BPOs, the VXI business pipeline radically changed from the beginning to the end of 2020. For us, it was one of our most successful years ever capturing new logos, with VXI forging robust partnerships with more than 20 new clients worldwide. This roster includes many beloved global brands, including several near the top of Fortune Magazine’s 2020 list of the World’s Valuable Brands.
2020 also allowed VXI to showcase its strength in areas where we can prove our expertise. Through effective sales campaigns, upsell & cross-sell, marketing programs, and customer retention, VXI was able to leverage capabilities to drive revenue generation for our customers. The company was able to generate significant enhancement in its overall revenue generation for an integrated subscription platform company.
Despite China being the center of the COVID-19 pandemic,
VXI China remarkably did not lose a single day of business. Out of 10,000 workers in 10 sites, they were able to transition almost half of the count to WAH within less than 48 hours, and operations were virtually uninterrupted. During the opening salvo of the health crisis, the strategic expertise of VXI leaders—beginning in the highest ranks—ensured that safety and business continuity were still the primary objectives. VXI China experienced a strong year with substantial revenue growth and many notable new-client wins, including several of the world’s most well-known retail, luxury, and dining brands.
VXI’s 2021 forecast is optimistic. Revenue, operations, and new growth are stable with numerous improvements over 2020. New training models and recruitment strategies for WAH employees are delivering strong results and our CX advisory services is a notable growing business category. Securing client partnerships will be done over video conferences instead of actual site visits, and employee health will take on a new level of focus.
VXI will continue to efficiently run its global operation with 43 delivery locations all over the world with a balanced mix of onshore (US), nearshore (Jamaica and Guatemala), and offshore (Philippines) delivery options. Expansion is possible, as VXI continues to demonstrate a strong financial foundation. Similarly, VXI’s R&D development subsidiary,
Symbio, continues its growth with new executive leadership and a robust pipeline.
A company’s survival in 2020 depended on how it reacted to the global crisis that is the COVID-19 pandemic. The world was caught unawares and unprepared, but because of quick response and decisive thinking, VXI was able to establish our sites as providers of essential services due to the support of critical infrastructure for telecommunications, utilities, government support, and food delivery. VXI was able to weather the worst of the pandemic and achieve business continuity because of its turnkey approach that includes all the tools, software systems, and people necessary to achieve our goals. Best of all, VXI responded to the challenges
as a team. No one ever worked by themselves, and employees showed tremendous concern, resilience, and creativity to remain working and to support their coworkers.
Passion for people is the centerpiece of who we are, and our customers and clients recognize that as an essential characteristic. By overcoming the adversities of 2020 as one VXI, together we can face 2021 with much positivity, gladness, and hope.