NEW YORK, Nov. 5, 2020 /PRNewswire/ -- Atento S.A. (NYSE: ATTO, "Atento" or "Company"), one of the world's five largest providers of customer relationship management and business process outsourcing (CRM/BPO) services, announced today that Frost&Sullivan confirmed the Company's leading position in Latin America's customer experience outsourcing (CX) services market, based on the research and consulting firm's annual analysis of this $10.5 billion market.
In 2019, Atento maintained its position as the clear pan-regional leader, with 15.2% of market share, 4.5 percentage points ahead of the second-largest CX provider in Latin America. When considering the domestic-only segment of the region's CX market (aggregated domestic demand), which excludes nearshore services, Atento's market share is even higher, at 22.1%, nearly three times the share of its closest competitor. On an individual country basis, Atento led in Brazil, Argentina and Chile, and in the domestic-only segments in Mexico, Peru and Central America and the Caribbean. In Brazil, the region's largest market, Atento's share reached 27.9%, 19.4 pp ahead of the country's number two CX outsourcing player.
Carlos López-Abadía, Atento's Chief Executive Officer, said, "The growing CX outsourcing market in Latin America has been evolving and transitioning to higher-value solutions. Atento has been leading this evolution and sustaining a dominant leadership position in the region. While the market grew half a percent in 2019, we grew 2.6%, driven by Brazil, our flagship operation and innovation hub."
Although the sector was hit hard by the COVID-19 crisis this year, demanding a rapid transition to a Work-at-Home (WAHA) model, the dynamics of the crisis also accelerated positive trends, mainly in the digital space, as consumers shifted more of their purchases online. According to Frost&Sullivan, the growth opportunities for the next few years will be driven by intensive use of AI and automation tools, leveraging digital to drive sales and developing a secured WAHA practice for a competitive edge.
Mr. López-Abadía added, "The way brands relate to their customers has evolved with the emergence of new digital channels, even more so because of the health pandemic this year. In this regard, Atento has been the Partner of Choice for its clients, helping them service better, engage better and sell better. There are still many untapped growth opportunities in the region, for both domestic and nearshore services. As we continue introducing more advanced and innovative next-generation services that create distinct competitive advantages for our clients, we expect to extend our CX leadership in Latin America even further."
You can read Frost&Sullivan´s abridged report here.
Atento is one of the world's five largest providers of customer relationship management and business process outsourcing (CRM/BPO) services and a leader in Latin America. Atento is also a leading provider of Nearshoring CRM/BPO services for companies operating in the United States. Since 1999, the company has developed its business model in 13 countries and has a presence in Spain and a workforce of 150,000 employees. Atento has more than 400 customers to which it provides a wide range of CRM/BPO services through multiple channels. Its clients are leading multinational companies in sectors such as technology, new digital enterprises, telecommunications, finance, healthcare, consumer consumption and public administration, among others. Atento shares are traded under the symbol ATTO on the New York Stock Exchange. In 2019, Atento was recognized by Great Place to Work® as one of the 25 Best Multinationals to Work in the World and as one of the 25 Best Multinationals to work in Latin America. For more information www.atento.com
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This press release contains forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "intends," "continue" or similar terminology. These statements reflect only Atento's current expectations and are not guarantees of future performance or results. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. In particular, the COVID-19 pandemic, and governments' extraordinary measures to limit the spread of the virus, are disrupting the global economy and Atento's industry, and consequently adversely affecting the Company's business, results of operation and cash flows and, as conditions are recent, uncertain and changing rapidly, it is difficult to predict the full extent of the impact that the pandemic will have. Risks and uncertainties include, but are not limited to, competition in Atento's highly competitive industries; increases in the cost of voice and data services or significant interruptions in these services; Atento's ability to keep pace with its clients' needs for rapid technological change and systems availability; the continued deployment and adoption of emerging technologies; the loss, financial difficulties or bankruptcy of any key clients; the effects of global economic trends on the businesses of Atento's clients; the non-exclusive nature of Atento's client contracts and the absence of revenue commitments; security and privacy breaches of the systems Atento uses to protect personal data; the cost of pending and future litigation; the cost of defending Atento against intellectual property infringement claims; extensive regulation affecting many of Atento's businesses; Atento's ability to protect its proprietary information or technology; service interruptions to Atento's data and operation centers; Atento's ability to retain key personnel and attract a sufficient number of qualified employees; increases in labor costs and turnover rates; the political, economic and other conditions in the countries where Atento operates; changes in foreign exchange rates; Atento's ability to complete future acquisitions and integrate or achieve the objectives of its recent and future acquisitions; future impairments of our substantial goodwill, intangible assets, or other long-lived assets; and Atento's ability to recover consumer receivables on behalf of its clients. In addition, Atento is subject to risks related to its level of indebtedness. Such risks include Atento's ability to generate sufficient cash to service its indebtedness and fund its other liquidity needs; Atento's ability to comply with covenants contained in its debt instruments; the ability to obtain additional financing; the incurrence of significant additional indebtedness by Atento and its subsidiaries; and the ability of Atento's lenders to fulfill their lending commitments. Atento is also subject to other risk factors described in documents filed by the company with the United States Securities and Exchange Commission.
These forward-looking statements speak only as of the date on which the statements were made. Atento undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Atento S.A.