On occasion, things that have been around for some time can run obsolete, while others prove the value of investment. Think a Delorean versus a Lamborghini.
In the context of the American nearshore, one destination that emerged nearly two decades back in the form of Honduras falls into this latter category. Among those locations in Central America, Honduras CX has been a showcase of resiliency, moving itself up the front-office value chain. To that end, global BPO player ibex has managed to embrace the Honduras CX opportunity, and (in proper American football parlance) run with it following recently-announced expansion plans.
It is important to consider some context around the evolution of Honduras’ CX value proposition. And what a journey it has been from a nearshore outsourcing perspective. Consider that at the end of 2009, Honduras was seen as an unlikely destination for any type of BPO; the country had at the time gone through political upheaval, and there was limited uncertainty whether Honduras could move beyond agriculture and textile manufacturing.
Shifting into the end of 2024, Honduras has since morphed into one of the most dynamic outsourcing locations in Central America, fueled by investment in infrastructure and education, alongside private sector commercial property development. Combined, these have been instrumental for luring outsourcers, which have peppered Honduras’ BPO landscape. Superb English language skills and scalability across multiple urban centers have led some of the most dynamic third-party CX service operators to this nearshore powerhouse.
This sets up the ibex Honduras CX advantage. It is noted that among the outsourcers found on the ground in Honduras, ibex is a relatively recent entrant into the market, having set up shop in 2021. Since its inception, it has managed to grow its Honduras footprint north of 1,000 employees, a significant ramp-up by all accounts in a short amount of time. To a large degree ibex was able to manage this feat through its choice of Tegucigalpa as its base of operations.
During the course of BPO’s evolution in Honduras, initially investors seemed to prefer San Pedro Sula as the city of choice for international third-party entrants. However, ibex was among those players that decided to take advantage of the capital city, establishing its beachhead in Tegucigalpa. There are a number of immediate strong points that ibex was able to leverage with this move.
At nearly 2 million people, Tegucigalpa is scalable in its own right; but, being the seat of government, it affords the chance to recruit an agent pool that has a strong reputation for sophistication, education and cultural affinity with the American end-user. Not only has this meant the chance for ibex to onboard clients in more complex sectors, it also has afforded access to an agent pool that is equipped to perform functions that are more value-add in nature. These elements, coupled with a saturation factor in Tegucigalpa that is less than that of San Pedro Sula (as well as many other BPO hubs in Central America) are all contributors the decision to grow ibex in the Honduran capital.
More broadly, what the ibex expansion brings to the table is a validation of Honduras CX as a core part of the American nearshore. This region is a literal patchwork of options for both outsourcers and their clients. And to be clear, there are competitive factors that operators will face in this territory. With more ongoing BPO investment in Tegucigalpa, there is no avoiding wage creep to recruit / retain multilingual, educated talent. Equally, buyer favorability tracked in the annual Ryan Strategic Advisory Front Office CX Omnibus Survey indicates that as a national brand, Honduras has still work to do (as does nearly every Central American nearshore destination).
That said, if there is one lesson that CX delivery from Honduras has validated over the past nearly two decades, it is that the country has proven itself a key point of diversification within the American nearshore, ensuring effective risk mitigation and quality-driven skill sets. The choice of ibex to grow its presence in Honduras CX is confirmation of this.
ibex Expansion Validates Honduras CX Value Proposition
By Ryan Strategic Advisory
On occasion, things that have been around for some time can run obsolete, while others prove the value of investment. Think a Delorean versus a Lamborghini.
In the context of the American nearshore, one destination that emerged nearly two decades back in the form of Honduras falls into this latter category. Among those locations in Central America, Honduras CX has been a showcase of resiliency, moving itself up the front-office value chain. To that end, global BPO player ibex has managed to embrace the Honduras CX opportunity, and (in proper American football parlance) run with it following recently-announced expansion plans.
It is important to consider some context around the evolution of Honduras’ CX value proposition. And what a journey it has been from a nearshore outsourcing perspective. Consider that at the end of 2009, Honduras was seen as an unlikely destination for any type of BPO; the country had at the time gone through political upheaval, and there was limited uncertainty whether Honduras could move beyond agriculture and textile manufacturing.
Shifting into the end of 2024, Honduras has since morphed into one of the most dynamic outsourcing locations in Central America, fueled by investment in infrastructure and education, alongside private sector commercial property development. Combined, these have been instrumental for luring outsourcers, which have peppered Honduras’ BPO landscape. Superb English language skills and scalability across multiple urban centers have led some of the most dynamic third-party CX service operators to this nearshore powerhouse.
This sets up the ibex Honduras CX advantage. It is noted that among the outsourcers found on the ground in Honduras, ibex is a relatively recent entrant into the market, having set up shop in 2021. Since its inception, it has managed to grow its Honduras footprint north of 1,000 employees, a significant ramp-up by all accounts in a short amount of time. To a large degree ibex was able to manage this feat through its choice of Tegucigalpa as its base of operations.
During the course of BPO’s evolution in Honduras, initially investors seemed to prefer San Pedro Sula as the city of choice for international third-party entrants. However, ibex was among those players that decided to take advantage of the capital city, establishing its beachhead in Tegucigalpa. There are a number of immediate strong points that ibex was able to leverage with this move.
At nearly 2 million people, Tegucigalpa is scalable in its own right; but, being the seat of government, it affords the chance to recruit an agent pool that has a strong reputation for sophistication, education and cultural affinity with the American end-user. Not only has this meant the chance for ibex to onboard clients in more complex sectors, it also has afforded access to an agent pool that is equipped to perform functions that are more value-add in nature. These elements, coupled with a saturation factor in Tegucigalpa that is less than that of San Pedro Sula (as well as many other BPO hubs in Central America) are all contributors the decision to grow ibex in the Honduran capital.
More broadly, what the ibex expansion brings to the table is a validation of Honduras CX as a core part of the American nearshore. This region is a literal patchwork of options for both outsourcers and their clients. And to be clear, there are competitive factors that operators will face in this territory. With more ongoing BPO investment in Tegucigalpa, there is no avoiding wage creep to recruit / retain multilingual, educated talent. Equally, buyer favorability tracked in the annual Ryan Strategic Advisory Front Office CX Omnibus Survey indicates that as a national brand, Honduras has still work to do (as does nearly every Central American nearshore destination).
That said, if there is one lesson that CX delivery from Honduras has validated over the past nearly two decades, it is that the country has proven itself a key point of diversification within the American nearshore, ensuring effective risk mitigation and quality-driven skill sets. The choice of ibex to grow its presence in Honduras CX is confirmation of this.