Industry news

The company recently signed multiple new clients across the technology and manufacturing industries. TTEC also added 50 new employees to its Sofia location providing multi-lingual on-Call support with SLA compliance, service desk response, customer care and growth services across nine languages, including English, Danish, Finnish, German, Italian, Portuguese, Spanish, Japanese and Russian. A successful Q1 2018 for TTEC in EMEA was concluded with news of being shortlisted as a finalist for the Best Nearshore Team Award at the Global Sourcing Association (GSA) Professional Awards. This industry association and professional body for the global sourcing industry serves to share best practice, trends and connections across the globe through the annual awards program recognising service excellence.

“As an industry innovator and leader within the customer experience industry, it’s great to receive recognition that reflects our strong customer and partner relationships,” said Iain Banks, VP of International Markets, TTEC. “We have tremendous momentum at present, evidenced by our new client programs and team growth, strengthening our footprint in Europe and our leadership in transformative customer experience and engagement solutions.”

The company also confirmed three key appointments of seasoned industry players for Business Development, Solutions and Human Capital roles in the region.

• Nameer Rattansi joins TTEC as Head of Solutions EMEA. With over 15 years of experience leading customer care services and support for global brands, Rattansi will expand his solution consulting leadership and project manage cross-functional CX teams throughout the sales cycle to conclusion on UK, pan-EMEA and global offshore deals.

• An influential leader, Joanne Regan-Iles joins as Head of Human Capital EMEA where she will spearhead TTEC’s talent acquisition and human capital strategy. With 14 years of experience in leading Human Capital teams, Regan-Iles will be responsible for continued efforts in hiring, retaining and developing world-class people that serve as brand ambassadors for TTEC clients.

• Clare Lomax, VP Sales for EMEA, will be responsible for accelerating the company’s regional go-to-market strategies and local market expansion. With an impressive track record of personally winning more than £1B of outsourcing contracts globally, Lomax is a motivated professional with 25 years of experience in strategic outsourcing sales.

For more information on how TTEC is driving digital transformation and omnichannel customer experiences in EMEA, visit www.ttec.com/emea/

About TTEC:

TTEC (NASDAQ: TTEC) is a leading global customer experience technology and services provider focused exclusively on the design, implementation and delivery of transformative solutions for many of the world's most iconic and disruptive brands. The Company delivers outcome-based customer engagement solutions through TTEC Digital, its digital consultancy that designs and builds human centric, tech-enabled, insight-driven customer experience solutions for clients and TTEC Engage, its delivery centre of excellence, that operates customer acquisition, care, growth and digital trust and safety services. Founded in 1982, the Company's 50,500 employees operate on six continents across the globe and live by a set of customer-focused values that guide relationships with clients, their customers, and each other. To learn more about how TTEC is bringing humanity to the customer experience, visit www.ttec.com.

The cyber threat landscape can be a bemusing place for a business executive. A fast-moving, jargon-filled world of shadowy hackers, nation-state spies and bedroom-bound hacktivists, cyber is nonetheless a vital contributor to business risk. As such, whether you’re a global sourcing buyer or supplier, you must be able to understand where the online threats to your business lie, how they might impact risk, and how you can mitigate that risk.

The chances are you’re familiar by now with ransomware. Well, increasingly, the hackers are eschewing this money-making scheme in favour of another, far more insidious and covert strategy: mining crypto-currency using your own enterprise computing resources. It’s time to get familiar with a new trend in cybercrime: crypto-jacking.

Mining for money

Like every new cybercrime story, this one is based on a simple financial narrative. Unless they’re sponsored by nation states, or driven by notoriety or revenge, hackers will always go where the money is. And today there is a lot of it to be had from the burgeoning crypto-currency markets. The astronomical rise in value of digital currencies like Bitcoin, Monero, Ripple and Ethereum over the past year or so has led to a kind of modern-day gold rush, with technology at its heart.

There are various legitimate ways to make money from crypto-currencies — perhaps by investing in and trading Bitcoin, for example. One other way is to “mine” currencies. Crypto-mining is carried out today by computers which make complex calculations to ensure virtual transactions are entered onto the public blockchain-based ledger. In return for their efforts, the owners of these machines are rewarded with a small amount of virtual currency.

As the finite number of Bitcoins etc left to mine slowly reduces, these calculations get more difficult and require more and more electricity to power. It’s said that the energy used to power global Bitcoin mining efforts alone is equivalent to that of a small country: around 30 TWh per year.

Now this is where the hackers come in. They’ve found that by hijacking large numbers of consumer and business machines, they can tap the collective computing power to mine their own virtual coins. Mobile devices, PCs, Macs, servers, IoT endpoints: no internet-connected system is safe from this emerging crypto-jacking menace.

It’s claimed that crypto-jacking attacks soared by a staggering 8,500% in 2017. More recent stats have the number of malware detections in businesses increasing by a more modest 27% from Q4 2017 to Q1 2018. At NTT Security, we’ve also noticed a spike in activity in recent months. After collecting 12,000 samples of Monero mining malware dating back to March 2015, we discovered the vast majority (66%) dated from November and December 2017.

Firms under fire

With some security researchers claiming that hackers could make as much as $100m per year, it’s no surprise why this new trend has become so popular among the black hats. It’s much easier for them to run these botnets of compromised machines than it is to co-ordinate a ransomware campaign, for example, which requires interaction with the victim and the possibility of not being paid. With crypto-jacking, you simply infect a bunch of computers, sit back and let the money start flowing in.

The bad news, however, is that they’re increasingly likely to target business computer systems to assist in their covert mining activity, as there’s more computing power to hijack than consumer devices can offer. Crypto-mining malware affected 42% of organisations globally in February 2018, according to one vendor.

Contrary to popular belief, the potential impact on businesses extends beyond the costs associated with extra electricity usage. Crypto-jacking could also impair the performance of your systems, leading to wear and tear and potential downtime that could affect customer service and staff productivity. Infection could also be both indicative of deeper security problems in your networks and lead to additional cyber-attacks designed to spread ransomware, or harvest sensitive IP and customer data. One report claimed that of 4,000 Bitcoin mining detections spotted in 1H 2017, 20% triggered web and network-based attacks.

How to fight back

As long as there’s a financial incentive to do so, and corporate systems are exposed to attack, cyber-criminals will continue to target them with crypto-mining malware. So where are the key risks for global sourcing buyers and suppliers? NTT Security research indicates that malicious email campaigns are the primary means via which hackers are likely to access your systems. This can be difficult to defend against, as the tactic takes advantage of the credulity of your users to trick them into clicking on a malicious link or opening a malware-laden attachment. With Verizon claiming that 4% of users targeted by any given phishing campaign click through, improved security training is an essential complement to investments in security technology.

It’s not all about malicious email, however. The National Cyber Security Centre has warned in a new report that a new tactic could dominate over the coming year. “Popular websites are likely to continue to be targets for compromise, serving crypto-mining malware to visitors, and software is available that, when run in a webpage, uses the visiting computer's spare computer processing power to mine the digital currency Monero,” it claimed. Such an attack was spotted in February, with legitimate tool Coinhive found to be running on 4,000 websites including those of the Information Commissioner’s Office, United States Courts, and the General Medical Council.

So how can global sourcing stakeholders hope to mitigate this new cyber-risk? It will require a layered approach to security focused on people, process and technology and comprising best practices of the sort outlined by the NCSC. On the technology side this means investments in IDS/IPS, network monitoring, ad blocking, anti-malware and more. Combine this with regular risk assessments, user education and comprehensive patch management, and you’ll stand a good chance of success.

Cybersecurity is ultimately about making you a harder target. With crypto-jacking, the hackers are looking for the path of least resistance, so put enough barriers in the way and they’re likely to look for easier targets.

(Click here for the full NTT Security report...)

About the Author

Terrance DeJesus is a Threat Research Analyst at NTT Security.

A third of UK workers believe that their jobs will be automated within the next decade – and almost ten per cent think it’s likely to happen within two years - according to research by payroll firm ADP – and of those, over half think their employers are not doing enough to reskill them ahead of time.

Fears over automation are distributed unevenly amongst different demographics, according to the research cited by The Independent newspaper and others: just under 50% of employees aged between 16 and 35 see their jobs falling to automation within ten years, whilst workers in London are more fearful than those anywhere else: 46% of those surveyed in the capital worry about losing their jobs to automation over the next decade.

“Automation may seem like an issue for future generations, but our findings show that machines could replace thousands of employees in as few as five years… By starting to upskill and retrain workers now, employers can ensure they and their employees are as ready as possible to work side-by-side with the machines,” Jeff Phipps, managing director at ADP UK, told The Independent.

The global business process outsourcing (BPO) industry added fewer jobs last year than at any time since 2010, according to a report by India’s outsourcing trade body Nasscom. Net job growth in the $28bn BPO exports business stood at 36,000, with a global total in the region of 1.2 million, according to the Nasscom study. The annual average since 2011 has been in excess of 50,000 net new jobs.

While hiring growth has slowed, however, revenues are still strong, indicating that the shift to more automated work is accelerating. Earlier this year Cognizant became the first outsourcing major to hit 10% annualised growth whilst decreasing headcount, and several other leading players are expected to follow suit when their results are announced this month.

“This is, absolutely, not just a sign of things to come but of things that are already here,” said Jamie Liddell, Head of Content for the Global Sourcing Association (GSA). “Outsourcers of all shapes and sizes are scrambling to leverage the full power of automation and AI as quickly as possible to move away from the FTE-based model on which they’ve relied for many years. I’d be very surprised if we don’t see negative job growth this time next year, while revenues continue to rise.”

The Trades Union Congress (TUC) has called for a “beefing up” of labour laws affecting employees of outsourcing firms, saying that current legislation is insufficient to support subcontracted workers. The organisation has suggested that the government bring in legislation to allow such workers to challenge their “parent companies” to ensure full access to benefits such as holiday pay and even the national minimum wage.

According to TUC estimates, up to five million workers – 3.3 million employed through outsourced providers, at least 1 million by recruitment agencies and similar firms, and 615,000 by franchised operations - in the UK cannot enforce their basic rights.

TUC general secretary Frances O’Grady said: “This is an issue that affects millions, from fast food workers to people working on building sites. Employers have a duty of care to workers in their supply chains. They shouldn’t be allowed to wash their hands of their responsibilities… Joint liability must be extended to parent employers. Without it they can shrug their shoulders over minimum wage and holiday pay abuses… Our labour enforcement laws urgently need beefing up.”

A spokesperson for the Department for Business, Energy and Industrial Strategy said: “The government recently set out plans to ensure millions of workers, including agency workers, will benefit from enhanced rights and protections. We are also considering repealing laws allowing agencies to employ workers on cheaper rates.”

A report by the OECD on the impact of artificial intelligence and automation suggests many fewer jobs in the UK and USA will be lost than previously thought – though the revised figures still represent many millions of positions at risk.

According to the report, some 10% of US jobs and 12% of UK roles will be lost to automation over the next decade – significantly lower than the 47% and 35% respectively predicted by a highly influential Oxford University study released in 2013. Nevertheless, the figure for the UK represents around three million employees, and that for the USA at least 13 million, the report claims.

The research suggests that while fears of the impact of automation and AI have been to some extent overblown, the consequences will still be significant, with “further polarisation of the labour market” potentially leading to greater wealth inequality, and with countries not sufficiently prepared for the retraining burden which will result from such widespread job losses.

“The large share of workers whose jobs are likely to change quite significantly as a result of automation calls for countries to strengthen their adult learning policies to prepare their workforce for the changes in job requirements they are likely to face,” the report warns.

A report by the OECD on the impact of artificial intelligence and automation suggests many fewer jobs in the UK and USA will be lost than previously thought – though the revised figures still represent many millions of positions at risk.

According to the report, some 10% of US jobs and 12% of UK roles will be lost to automation over the next decade – significantly lower than the 47% and 35% respectively predicted by a highly influential Oxford University study released in 2013. Nevertheless, the figure for the UK represents around three million employees, and that for the USA at least 13 million, the report claims.

The research suggests that while fears of the impact of automation and AI have been to some extent overblown, the consequences will still be significant, with “further polarisation of the labour market” potentially leading to greater wealth inequality, and with countries not sufficiently prepared for the retraining burden which will result from such widespread job losses.

“The large share of workers whose jobs are likely to change quite significantly as a result of automation calls for countries to strengthen their adult learning policies to prepare their workforce for the changes in job requirements they are likely to face,” the report warns.

LONDON, 28/3/18: The Global Sourcing Association (GSA), the industry association for strategic sourcing and outsourcing professionals, has launched its new #ReshapingOutsourcing campaign intended to improve and futureproof the outsourcing model. At an extraordinary meeting held in London on March 26th, over 80 senior professionals from across the industry convened to discuss the challenges facing outsourcing – including a welter of media and political criticism, a wave of disruptive technologies and the emergence of new partnership and contractual models – and possible solutions designed to improve service quality and outcomes and to shore up the reputation of this critical sector.

Prior to the event, a GSA survey of the community showed that over 80% of respondents desired change in the industry (with only six per cent believing no change at all is necessary), and breakout sessions on Monday showed a clear desire for fundamental improvements in areas as diverse as communications, hiring, public relations, upskilling sourcing professionals, preparing for the future working landscape and more.

The discussions generated at the event will now be used as the basis for working groups, to meet regularly over the course of the next few months, designed to formulate a series of actions which will combine to form a coherent programme of work to be unveiled at the GSA UK Symposium & Awards, to be held in London on November 22, 2018. Kerry Hallard also informed the conference of a range of new GSA activities to run alongside these working groups under the broad remit of ‘Reshaping Outsourcing’, as well as an expansion of the GSA’s workshop programme to provide an immediate boost to the upskilling imperative expressed by the group.

“This industry is on a burning platform,” Hallard said. “Don’t get me wrong – in most cases outsourcing works – but we seem too unwilling to share those successes. I propose that we come together as an industry like never before, to celebrate our successes, acknowledge our shortcomings, agree that we want to make some changes – and agree what those changes are, and develop and deliver a targeted plan.”

The GSA is now calling for members of the strategic sourcing and outsourcing space who were unable to attend Monday’s meeting to throw their support behind the campaign, including by joining the nascent working groups to help shape the future of the industry. Those interested should contact Kerry Hallard, CEO, GSA UK, at kerryh@gsa-uk.com or on +44 (0)7774 690447.

For more information on the GSA UK Symposium & Awards 2018, see https://www.gsauksymposium.com/ or contact Natalie Milsom at nataliem@gsa-uk.com or on +44 (0)7817 040202.

For information on the GSA’s workshop programme – including forthcoming sessions on design thinking and intelligent automation – please contact Debbie Mackay at debbiem@gsa-uk.com or on +44 (0)7398 262548.

About the GSA:

The Global Sourcing Association is the industry association and professional body for the global sourcing industry, and the home of the Global Sourcing Standard, a world first for the provision of a portfolio of best practice methodologies and accreditation programmes supported by both buyers and suppliers of sourcing. The GSA is a not-for-profit membership association with fully licensed, affiliate and associate members, and serves to share best practice, trends and connections across the globe. The Global Sourcing Association has a presence across the globe and provides guidance in economies such as the United Kingdom, France, Germany, Italy, Belgium, the Netherlands, Spain, Norway, Poland, Romania, Bulgaria, Russia, Egypt, China, India and the United States.

British Airways (BA) has cancelled plans to outsource hundreds of call centre jobs in the north of the UK and committed to investing millions of pounds in new technology, according to reports this week. Over 750 staff in Manchester and Newcastle will remain in place after BA and provider Capita failed to agree a deal “after nine months of talks” over taking on the airline’s global customer contact set-up, according to the Manchester Evening News.

BA’s chairman and chief exec, Alex Cruz, told the press that he was “pleased that following a very detailed review, we are planning to retain both of our long-standing UK call centres in Newcastle and Manchester… We have highly experienced and knowledgeable teams in both cities, and by modernising how we work as well as introducing new technology we can ensure we offer the very best service to our customers.”

The news was greeted with delight by trade union Unite, which referenced the current anti-outsourcing backlash in its response: “I think there is a new mood across business and other organisations in the UK that, following the recent Carillion debacle, outsourcing is not necessarily the best option if you wish to develop your business successfully,” said Unite officer Oliver Richardson.

BA also announced that it will keep 900 more staff in-house in centres in Germany, Hong Kong and India, but is also looking at setting up another centre in Cape Town which would be run by a third-party supplier.

“Capita is continuing to work with British Airways about elements of global customer contact transformation and support. This includes discussing a potential new contact centre site in Cape Town,” a Capita spokesperson said.

With less than two months before the new European General Data Protection Regulation (GDPR) comes into force, concerns are growing that India’s leading IT firms are underprepared for the changes involved, with press reports this week claiming that “only a third” of the country’s providers are in line to be compliant by the May 25th deadline.

“Only 30%-35% of all IT/ITeS companies have started their journey to work towards GDPR compliance,” Jaspreet Singh, Cyber Security Partner at EY, told the Economic Times on Tuesday.

With fines for breaches of the new regulation potentially reaching four per cent of global turnover (and with data protection in the public eye as never before thanks to the ongoing Facebook/Cambridge Analytica scandal) the consequences of failure to observe GDPR are enormous – yet analysts are concerned that some Indian firms may not be taking their obligations seriously enough. Some observers are also highlighting the extra cost burden and its possible impact on current and future deals: NASSCOM chairman Raman Roy suggested Monday that “IT services providers will have to rework the contracts and they will see a cost increase. But the cost impact depends on the incremental work (due to GDPR compliance) that needs to be done.”

In an interview with the GSA, DLA Piper partner Kit Burden said that “there remains a huge amount of work to be done on GDPR; in fact, there is too much work now than could possibly be done in the time available. There are still organisations amazingly enough which are only now waking up to what needs to be done. Equally there are more savvy organisations which did realise that they needed to do something, who are still coming to terms with the sheer scale of how much that ‘something’ actually is, and are therefore still running up against the deadline in terms of completing all their remediation activities in time to be ready by May.”