Summary of Workshop 3 Synapsis 2022

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00:00:00 - 01:00:00

In this section of the video titled "Workshop 3 Synapsis 2022," the speaker emphasizes the significance of commercial development and marketing in order to grow and stand out in the market. They stress the need to have a competitive advantage and prioritize sales and speed. While acknowledging the importance of the technical aspect and the product, they highlight the priority of sales when there is little differentiation in the market. The speaker concludes by highlighting the importance of finding the right balance between technical expertise and effective sales strategies.

  • 00:00:00 In this section, the speaker introduces three important topics before presenting the latest workshop recommendations. Firstly, they mention their history of collaboration with Quantic Group and Morgesia Associates, working on projects and strategic recommendations. They express that the recommendation they will present is the most significant one they have made so far. They acknowledge that there is pressure to deliver a crucial recommendation, but they are confident in the process they have followed. However, they are aware of some limitations. They admit that their recommendation is abstract and may not consider the financial capacity of the company. Additionally, they confess that they are making the recommendation blind to Quantic Group's diverse investment opportunities, so it is not a comparative recommendation. Despite these limitations, they believe their specific recommendation for Synapsis is based on an understanding of the business and its potential. They also recognize that the implementation may evolve, and some elements may be adjusted based on the recovery of the business. The speaker concludes this section by mentioning a series of workshops they have conducted, with the third one focusing on the structure of the technology business.
  • 00:05:00 In this section, Alejandro discusses the topic of bipow and its participation in the technology market in Latino America, which accounts for only 3% to 4% of the global market with nothing more than 1% in terms of consumer experience (CX) in the region. The fragmentation of the market makes achieving a 1% market share a difficult but possible task, especially since some companies, such as performance and Concentrix, only have between 1% and 50% of the market share. Growth in the market is around 1 million 800, and capturing 1% of this growth would mean reaching 15 million annually. It's important to note that when speaking of the CX market, it serves as a proxy for call centers since many that call themselves CX are actually concepts, and the market involves all of these aspects. This market is highly competitive, with opportunities for providers to be profitable in the long term.
  • 00:10:00 In this section, the speaker discusses the size and potential of the Latin American market in the BPO industry. They point out that while capturing 1% of the entire market may be challenging, capturing 1% of the market's growth is relatively easier. They also emphasize that the Latin American market, comprising approximately 9% of the global market, is significant and should not be underestimated. They mention that Latin America has become an important provider of BPO services globally, alongside industries like soybean production, and that this contributes to the large size of the business. Additionally, they highlight the importance of verticals such as telecommunications, banking, finance, and retail, which offer significant opportunities for growth.
  • 00:15:00 In this section, the speaker discusses the importance of digital transformation in the context of customer experience (CX). They emphasize that CX is just the starting point for many companies, and that all processes that lead to and support CX must be optimized for effectiveness and cost-efficiency. The speaker mentions that there are various businesses within the realm of CX, including teleperformance, which provides services such as moderating content on Facebook to prevent hate speech. They also mention other companies that are targets for transformation, such as IBM, and clarify that there are both concentric businesses within the CX realm and others that are currently in different sectors but could benefit from transformation.
  • 00:20:00 In this section, the speaker discusses the potential for significant growth and the importance of being present in key market regions. They mention that a company with a market size of 45 million can achieve significant growth within 3 to 5 years. The four most attractive and important regions they highlight are North America, Central America and the Caribbean, Brazil, Colombia, and Mexico, which together make up 86% of the market. They emphasize the importance of being physically present in these regions as they are where customers are located and where they are most likely to export their services. They mention that while Brazil tends to be more closed and reliant on local providers, Colombia, Central America, and Mexico have a significant portion of their services serving the US market. They conclude that being physically present in these key regions increases visibility and the likelihood of receiving requests for services, especially for export to the US.
  • 00:25:00 In this section, the speaker discusses the internal market and international market, and the complexity of client demands. They explain that in order to meet the demands of clients and resolve complex problems, clients require a "one-top shop" partner with various technological tools and the ability to improve production processes for a seamless client experience. The speaker then discusses the importance of having a specialized consultancy with a clear understanding of the business process, process design, and incorporation of technology relevant to the industry.
  • 00:30:00 In this section, the speaker discusses the importance of improving processes for client companies in order to generate efficiencies and reduce costs. They emphasize the need for a deep understanding of different disciplines and the vertical industry, as well as the utilization of technology. They also mention the significance of low costs and high-quality agents in the last mile of operations. The speaker highlights the need to have a platform with low costs and leverage technology to create differentiation, rather than simply substituting high costs with technology.
  • 00:35:00 In this section of the video titled "Workshop 3 Synapsis 2022", the speaker discusses the relationship between business process outsourcing (BPO) and the low-cost platform that serves the needs of the clients. He explains that most of the companies in the BPO industry still prioritize selling low-cost labor instead of providing digital transformation solutions. This approach is seen as outdated, as clients now require a mix of solutions, rather than just one service provider. The speaker emphasizes the importance of understanding the principles of the BPO industry, which is based on quantity, and the shift towards a more digitized and specialized approach that focuses on quality and customer needs.
  • 00:40:00 In this section, the speaker discusses the importance of having a proprietary competitive advantage in business. They give the example of Blockbuster in the 90s, whose business was based on having video rental stores in prime locations. However, when someone introduced the concept of online movie streaming, the physical stores became irrelevant. The speaker suggests that Synapsis, the company being discussed, does not currently have a proprietary competitive advantage and needs to compete using guerrilla tactics. They also mention the need to find the right locations for their business, as customer convenience is key. The speaker ends by emphasizing the importance of having both a competitive advantage and low costs in order to succeed in the market.
  • 00:45:00 In this section, the speaker discusses the benefits of working with a smaller group of providers rather than multiple ones, as it allows for a more streamlined communication process. They also emphasize the importance of having additional processes and capabilities beyond just technology, in order to stand out and provide added value to clients. Furthermore, they mention the goal of targeting companies with higher average revenues, such as regional companies in Latin America or international companies with a presence in the region. They also highlight the need to increase their presence in Latin American countries and expand their market share in order to be seen as a trustworthy and capable player. Lastly, they mention that being larger opens up opportunities for accessing resources, cutting costs, and improving profitability.
  • 00:50:00 In this section, the speaker mentions that they have a link to the types of services they offer and an annex with detailed information. They also discuss the need for specific industry knowledge and technology expertise when dealing with vertical processes. The speaker emphasizes the importance of being able to provide tailored solutions and frameworks for different industries. They give examples of horizontal processes in the financial industry and stress the relevance of compliance and custody services. The speaker also mentions the use of blockchain technology in the insurance industry. They predict that as the company gains more clients, they will naturally gravitate towards specific verticals and develop expertise in those areas. The speaker concludes by highlighting the advantage of having existing clients in certain industries, as it can lead to more opportunities and meaningful conversations with potential clients.
  • 00:55:00 In this section, the speakers discuss the importance of focusing on commercial development and marketing in order to grow and differentiate in the market. They emphasize the need to have a competitive advantage and to prioritize sales and speed. Additionally, they acknowledge the importance of the technical aspect and the product itself. They mention that while the technical side is important, it is crucial to prioritize sales when there is little differentiation in the market.

01:00:00 - 02:00:00

In this section of the YouTube video "Workshop 3 Synapsis 2022," the speaker highlights the importance of having a sales team focused on generating more sales and becoming a sales machine. They emphasize the need for flexibility, adaptability, and efficient internal processes to succeed in sales and remote agent management. The participants also discuss the challenges and considerations of remote work, cost reduction, and expanding into new markets. The speaker presents different strategies for growth, including organic and inorganic approaches, and discusses the potential benefits of chatbots and virtual assistants. They explore different execution strategies for the business plan, analyze the financial implications of different strategies, and discuss the complexities of building capabilities and acquiring businesses. The participants share their initial reflections on the presented alternatives and proposals, highlighting the importance of hiring people from anywhere in the world, go-to-market strategies, and specialized processes within the Synapsis framework.

  • 01:00:00 In this section, the speaker emphasizes the importance of having a sales team focused on generating more sales and becoming a sales machine. They highlight the need to be flexible and adaptable, especially in markets with fragmented competition and little differentiation. They also discuss the development of low-cost centers and the ability to provide high-quality services at a low price through a platform that allows sourcing, recruiting, training, and managing remote agents. Additionally, the speaker emphasizes the importance of internal processes for recruitment and work management, as well as the efficient use of technology for managing remote agents. Overall, a strong emphasis is placed on the need for flexibility, speed, and efficient internal processes to succeed in sales and remote agent management.
  • 01:05:00 In this section, the participants discuss the challenges and considerations of remote work in the context of the pandemic. They mention the importance of having a good internet connection and the ability to hire people from anywhere in the world. They also talk about the need for platforms to monitor and control remote work to ensure productivity and accountability. The participants share their experiences with different solutions and emphasize the importance of finding the right balance between control and trust when managing remote teams. Additionally, they discuss the risks and considerations associated with hiring remote workers, especially in terms of seniority and expertise. The conversation highlights the need for careful implementation and consideration of different modalities of remote work.
  • 01:10:00 In this section, the participants discuss the topic of cost reduction and the different forms of contracting used in their industry. While there were no specific modalities of contracting discussed, the issue of rising costs was highlighted. Additionally, the creation and development of a center of excellence in processes and technology were mentioned as part of the ongoing transformation. The participants discussed examples of technologies and processes that could be combined to improve efficiency and implemented through a framework. The goal is to optimize processes and integrate technologies to better serve clients in the future.
  • 01:15:00 In this section, the speaker discusses the creation of a framework by the Centro desde Excelencia en Tecnología, which will allow Jorge and his sales team to approach different businesses related to their field. The framework includes automated processes that can be applied to vertical or horizontal processes, enabling Jorge to sell with differentiation based on the existence of these frameworks. The goal is to solve operational issues through technology and eventually outsource operations to low-cost agents. The speaker also mentions the importance of storytelling and the possibility of first sending consultants to assess processes before implementing technology and people. Additionally, they highlight the need for a sophisticated service that encompasses managing technological processes, indicators, and integrations, which may be provided by the client or the workshop itself, but at a higher cost than simply employing people. The speaker suggests that Colombia or Mexico could be potential locations for the low-cost center.
  • 01:20:00 In this section, the speaker discusses the challenges and considerations that the company needs to address in order to expand and thrive in the market. They highlight the importance of considering both external and local markets, as well as the need to grow beyond operating solely in Uruguay. The speaker emphasizes the crucial aspects of increasing sales and expanding the customer base, cautioning that relying solely on local clients may limit growth potential. They also touch upon the topics of technology, processes, and excellence in recruitment, emphasizing the need for high-quality service and efficient operations. The speaker presents different execution strategies, including organic growth and financial considerations, and suggests that a combination of approaches may be necessary to achieve success.
  • 01:25:00 In this section, the speaker discusses the different options for growth, both organic and inorganic. They highlight the importance of making strategic decisions rather than relying solely on tactical ones. They give the example of a Brazilian company, Mustang Mutante, which experienced tremendous growth by acquiring 13 companies and raising $200 million from external investors. The speaker also mentions the importance of acquiring capabilities and mentions various acquisitions made by other companies in the industry. Overall, the speaker encourages considering both organic and inorganic growth strategies and emphasizes the need to buy capabilities to drive digital transformation.
  • 01:30:00 In this section of the Workshop 3 Synapsis 2022, the speaker discusses the potential benefits of chatbots and virtual assistants in the i4u2021 environment. They highlight the option to purchase skills and capabilities, as well as markets, to demonstrate how companies can grow and transform through acquisitions. The speaker then presents a scenario involving various investments and openings in different countries, with each location starting with different sales figures but ultimately contributing to overall growth. The section concludes by mentioning the importance of considering the average return on investment when analyzing the numbers.
  • 01:35:00 In this section, the speaker discusses two possible strategies for executing the business plan. The first strategy is bootstraples, which involves a lower investment but a longer time to recover the investment, potentially taking up to six years. The second strategy is pure acquisition, which requires a higher investment but has a faster recovery time, potentially reaching a return on investment by the seventh year. The speaker expresses a preference for the pure acquisition strategy due to factors such as the need for mindset change, the speed of capturing opportunities, and the lower risk associated with acquiring established businesses. However, they acknowledge that both strategies carry their own risks and uncertainties. They also highlight the challenges of making significant purchases in different markets, as it may be difficult to achieve the desired market presence and acquire the necessary capabilities and talents with smaller acquisitions.
  • 01:40:00 In this section, the speaker discusses the financial implications of different business strategies. They explain that by implementing the bootstrapping approach, one can accumulate more money over time compared to making traditional purchases. However, they caution that these numbers are based on assumptions and that there is a higher level of risk and delay associated with bootstrapping. They also highlight the importance of building capabilities and finding the right people to support the business. Ultimately, the speaker emphasizes the need to consider both the financial and strategic implications when making business decisions.
  • 01:45:00 In this section, the speaker discusses the differences between a truck and other investments, expressing confusion about how to compare and equate them. They mention the difficulty and risk involved in the first model, which could take longer than expected. The speaker also mentions a company called Mutan that raised less than $200 million in funding and purchased 13 stars. They express the need to verify the details of this information. The speaker then discusses the idea of being acquired by Mutan or another company, questioning what value they would bring to the ecosystem and if the Uruguayan market is attractive enough. They conclude by considering the possibility of becoming more attractive in a few years if they expand to different countries and increase their revenue.
  • 01:50:00 In this section of the video, the participants are discussing their initial reflections and thoughts on the various alternatives and proposals presented. One participant finds the idea of hiring people from anywhere in the world interesting and believes they will have to move towards that model. Another participant shares their interest in two growth strategies presented, relating it to a previous discussion about an Uber-like platform for Beavers. They also mention the collision between Synapsis and Hey Now in terms of value proposition. Another participant brings up the concept of training AI models and the need for specific use cases. They highlight the different approaches of Hey Now and Synapsis in terms of go-to-market strategies.
  • 01:55:00 In this section, the speaker discusses the importance of specialized processes within the Synapsis framework. They highlight the need to incorporate different providers for specific tasks and how this complex ecosystem makes it difficult for clients to replace Synapsis once they have integrated multiple services. The speaker also raises questions about migrating current clients to higher billing volumes and the challenges of managing clients with different sizes. They mention the case of Mutan, a company that grew by acquiring other businesses and consolidating their various centers. The speaker suggests that consolidating capabilities into one location, such as Uruguay or Argentina, could be a strategic decision for Synapsis. However, they admit they do not have a clear idea of the best practices for this consolidation process.

02:00:00 - 02:10:00

The speaker in this section discussed potential strategies for expanding beyond Uruguay. They admired Mutant's focus on volume over specialization but expressed concerns about the challenges of growing organically in new territories and potential cultural clashes. The speaker also emphasized the importance of having a minimum size to strategically plan for the medium-term and developing tailored strategies for each market. They expressed gratitude for the participants and suggested a need for internal discussion and determination of the next steps.

  • 02:00:00 In this section, the speaker discusses the possibility of acquiring an Argentinean company and keeping the Argentinean center of excellence, even if the company ends up billing from Uruguay. The speaker admits to not having all the information about whether Mutant has consolidated the different areas of excellence. They mention being surprised by Mutant's strategic implementation, which prioritizes volume over specialization. They expected the opposite, with a focus on specializing in specific areas. The speaker also mentions the example of Mutante and how it sparked the discussion about finding strategies within the group to change the mindset and integrate vertically. The speaker raises concerns about the risks of bootstrapping and the challenges of growing organically outside of Uruguay, considering potential cultural clashes. They express uncertainty about the impact on the success of the intense financial growth in the first few years. However, they suggest that expanding beyond Uruguay could enable the company to have a larger scale and longer-term success.
  • 02:05:00 In this section, the speaker discusses the importance of having a minimum size in order to strategically plan for the medium term. They mention the need for centers of excellence, process centers, sales team specializations, and more, emphasizing that these factors are crucial for success. The speaker also brings up the idea of niche strategies and the potential problems they may present. They discuss the risk involved in expanding into new territories and acquiring companies, highlighting the need for careful consideration and avoiding cultural clashes. They also mention different strategies used in different countries, such as opening their own delivery center in Uruguay, making a joint venture in Brazil, and acquiring companies in Ecuador, emphasizing the importance of tailoring strategies to each specific market. Overall, the speaker reflects on the rich material generated from the workshops and expresses the intention to continue supporting Marcel and Alex in their endeavors.
  • 02:10:00 In this section, the speaker mentions that although there is no clear guarantee of a relative week to address questions, they feel that the mission was accomplished. They understand that there is now a clearer understanding of what needs to be done and have suggestions on how to proceed. They express gratitude for the time and kindness of the participants and mention the need to internally discuss and determine the path they will take.

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