Freshworks Announces Strategic Collaboration Agreement with AWS to Increase the Reach of its AI-boosted Software-as-a-Service
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Insights
The Strategic Collaboration Agreement between Freshworks Inc. and Amazon Web Services (AWS) signifies a substantial development in the SaaS industry. By integrating Freshworks' suite of business applications into the AWS Marketplace, both entities are broadening their market reach and enhancing their service offerings. This move is expected to streamline the procurement process for AWS customers, potentially leading to an increase in subscription revenue for Freshworks. The integration of AI-powered applications could also position Freshworks more competitively in the market, as businesses increasingly seek out intelligent solutions to drive efficiency and customer engagement.
From a market perspective, this collaboration could attract new customers within AWS's extensive user base, while also solidifying Freshworks' standing as a key player in the SaaS space. It is important to monitor customer adoption rates following the commencement of this agreement, as they will be indicative of the partnership's success and its impact on Freshworks' financial performance.
The partnership underscores a strategic move towards cloud-based service models and the significance of AI in modern business operations. Freshworks achieving AWS Retail Competency status and other competencies demonstrates a recognition of technical proficiency and customer success. This expertise in leveraging AWS technology could lead to enhanced product offerings, potentially resulting in increased market share and a stronger competitive edge.
For AWS, this agreement enriches their ecosystem with specialized business software, which may improve customer stickiness and drive usage of AWS's own services. As businesses continue to prioritize digital transformation, partnerships like these are crucial in providing comprehensive solutions that cater to evolving technological needs.
The financial implications of the Freshworks and AWS partnership could be significant, as the availability of Freshworks' solutions on AWS Marketplace may lead to a broader customer base and recurring revenue through the SaaS model. The market will be looking at key performance indicators such as customer acquisition cost, lifetime value of customers and churn rate post-implementation of the SCA to assess its financial impact.
Investors should also consider the potential for cost synergies as Freshworks leverages AWS's infrastructure, which may lead to improved margins over time. However, it is essential to evaluate the terms of the SCA and the investment required for integration and marketing to understand the full financial implications for both Freshworks and AWS.
The collaboration will provide AWS customers an easy way to access Freshworks’ modern business software built for customer support, IT, sales, marketing departments and other business teams
SAN MATEO, Calif., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH) announced today that it has signed a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to develop and expand Freshworks’ capabilities on AWS. The agreement is set to commence in early 2024, with Freshworks’ platform and full suite of solutions becoming available as Software-as-a-Service (SaaS) offerings in AWS Marketplace, a digital catalog with thousands of software listings from independent software vendors (ISV) that make it easy to find, test, buy, and deploy software that runs on AWS.
This SCA aims to provide AWS customers with new ways to purchase and use Freshworks’ solutions, including industry-specific, artificial intelligence (AI)-powered business applications to be hosted on AWS. The collaboration brings together the benefits of Freshworks and AWS, to help businesses deliver better, faster, and easier customer and employee experiences.
“We are delighted to build upon our long-standing relationship with Freshworks. With this latest enhancement to our collaboration, we are able to accelerate initiatives focused on enabling customers to be more innovative, productive and successful in this new AI era,” said Chris Casey, General Manager, AWS Partners Asia Pacific & Japan.
AWS and Freshworks have built multiple integrations to provide customers a better experience in managing and using AWS resources with the power and flexibility of Freshworks solutions. There are over 500 shared customers that are actively using Freshworks products with AWS services like Amazon Connect, Amazon CloudWatch, Amazon EventBridge, AWS Lambda, and more. Freshworks has achieved AWS Retail Competency status, Small and Medium Business Software Competency status and AWS Cloud Operations Competency status. In addition to being a member of the AWS Partner Network (APN) and an AWS Public Sector Partner, Freshworks is a participant in the AWS ISV Accelerate program and AWS Global Startup program, while also offering solutions in AWS Marketplace.
“Freshworks has a vision to deliver modern and innovative AI-enabled customer and employee service solutions that enable companies of all sizes to deliver personalized experiences and increase productivity,” said Doug Farber, Senior Vice President of Channels and Alliances at Freshworks. “This SCA with AWS allows us to assist our customers in making easy-to-use information technology (IT), customer service (CS) and customer relationship management (CRM) solutions available and achieving tangible business efficiencies.”
“As a provider of a complete digital mailbox solution, we understand the importance of seamless operations and exceptional customer experiences. Freshworks’ customer service solutions have revolutionized our operations, empowering our team to create delightful moments for our customers that help drive our growth,” said Dan Medina, Director of Customer Service Operations, iPostal1. “We feel especially secure knowing Freshworks’ foundation on AWS provides unmatched reliability. In fact, Freshworks is more than just a software provider; they are a crucial link in delivering outstanding customer service and operational excellence.”
About Freshworks
Freshworks Inc. (NASDAQ: FRSH) creates AI-boosted business software anyone can use. Purpose-built for IT, customer support, and sales and marketing teams, our products are designed to let everyone work more efficiently and deliver more value for immediate business impact. Headquartered in San Mateo, California, Freshworks operates around the world to serve more than 66,000 customers, including American Express, Blue Nile, Bridgestone, Databricks, Fila, and OfficeMax. For the freshest company news, visit www.freshworks.com and follow us on Facebook, LinkedIn, and X.
© 2024 Freshworks Inc. All Rights Reserved. Freshworks and its associated logo is a trademark of Freshworks Inc. All other company, brand and product names may be trademarks or registered trademarks of their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Freshworks Inc. or any aspect of this press release.
Contact:
Abigail Watts
PR@Freshworks.com
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