NICE Named Undisputed Leader for Second Consecutive Year in Metrigy’s 2024 CCaaS Provider Ranking

Rhea-AI Summary

NICE has been named the undisputed leader in Metrigy's CCaaS MetriRank 2024 report for the second consecutive year. The company earned top scores in market share, financial strength, product mix, and customer business success. NICE's CXone Mpower, combining the CXone platform with the Enlighten suite, was highlighted as an ultimate CX-aware AI solution. Metrigy emphasized NICE's strong financial position and its ability to maintain market leadership. The report also noted NICE's high ratings in AI capabilities and service value, as well as impressive metrics in first contact resolution (65.6%) and low agent attrition rates.

Positive

• Named undisputed leader in Metrigy's CCaaS MetriRank 2024 report
• Highest possible scores in market share, financial strength, and product mix
• Top score for customer business success, including 65.6% first contact resolution
• Lowest agent attrition rate among evaluated vendors
• Strong financial position with profitability, unlike many peers
• High ratings for AI capabilities and value of service

Negative

• None.

Insights

Market Research Analyst

NICE's undisputed leadership in Metrigy's CCaaS MetriRank 2024 report signifies its dominant market position in the rapidly growing Contact Center as a Service (CCaaS) sector. The company's top scores in market share, financial strength and product mix underscore its competitive advantage. Notably, NICE's customer business success metrics are impressive, with a 65.6% first contact resolution rate and the lowest agent attrition rate among competitors.

The report highlights NICE's CXone Mpower as a comprehensive CX transformation solution, particularly suited for businesses aiming to enhance automation and digital engagement. This positioning aligns well with the industry trend towards more flexible, feature-rich and cost-effective contact center solutions. NICE's financial stability, emphasized in the report, provides a significant edge in a market where many competitors struggle with profitability.

Financial Analyst

NICE's financial strength, as highlighted in the Metrigy report, is a important differentiator in the competitive CCaaS market. The company's positive operating margins and profitability stand out against peers who are either unprofitable or barely breaking even. This financial stability provides NICE with the resources to invest in product development and market expansion, potentially widening its lead in market share.

The report's emphasis on NICE's commanding market share and product development prowess suggests a strong revenue growth potential. For investors, this could translate to sustained long-term value creation. However, it's important to note that the CCaaS market is highly competitive and rapidly evolving, which may require continued significant investments to maintain NICE's leadership position.

Tech Expert

NICE's top ratings for AI capabilities and service value in the Metrigy report indicate its technological edge in the CCaaS market. The CXone Mpower solution, combining the CXone platform with the Enlighten suite, represents a comprehensive AI-driven approach to customer experience transformation. This aligns with the industry's shift towards more sophisticated, AI-enhanced contact center solutions.

The high scores in first contact resolution and low agent attrition rates suggest that NICE's technology is effectively improving operational efficiency and employee satisfaction. These factors are important in the contact center industry, where customer satisfaction and cost management are paramount. NICE's ability to deliver on these fronts through its AI-powered solutions positions it well for continued market leadership as the demand for intelligent, automated customer service solutions grows.

NICE earned the highest possible scores in market share, financial strength, product mix, and customer business success

HOBOKEN, N.J.--(BUSINESS WIRE)-- NICE (Nasdaq: NICE) today announced that it has been named the undisputed leader in Metrigy’s CCaaS MetriRank 2024 report, out of the top 10 vendors ranked. NICE was also named the top leader last year in Metrigy’s inaugural CCaaS MetriRank 2023 report. In addition to earning the highest possible scores in market share, financial strength, and product mix, NICE received the highest possible score for customer business success including the highest scores for first contact resolution, at 65.6%, and the lowest agent attrition rate. Across the eight customer sentiment categories, NICE received two notably higher ratings relative to the other report leaders, for AI capabilities and value of the service.

Read the full report here.

Metrigy stated in the report, “CCaaS is the fastest-growing contact center platform option, delivering cost-effective services with sophisticated product features for small, midsize, and large companies. Businesses of all sizes are evaluating a migration to more flexible, feature-rich, and cost-effective solutions. Although contact center managers seek modern solutions, they also need highly reliable and secure services, which are ultimately reflected in customer satisfaction.”

NICE’s CXone Mpower is the ultimate CX-aware AI solution bringing together NICE’s award-winning CXone platform with the full Enlighten suite. Metrigy stated, “Mpower is positioned for those companies undergoing a complete CX transformation or looking to increase automation and digital engagement capabilities.” Metrigy also highlighted NICE’s strong financial position among the vendors evaluated stating, “This financial strength places NICE in a unique position among many of its peers, which either are not profitable, or are teetering on the edge of profit and loss with negative operating margins.”

"Given its commanding market share lead, prowess in product development, and financial strength to get it to the next levels, NICE is positioned to maintain its No. 1 position in the CCaaS market," said Metrigy Principal Analyst Diane Myers.

Barry Cooper, President, CX Division, NICE, said, "NICE’s positioning as the undisputed CCaaS market leader for the second consecutive year is a testament to the power of CXone and Enlighten. Together, CXone’s interaction centric platform combined with Enlighten’s native purpose-built AI capabilities are driving businesses of all sizes to deliver exceptional employee and customer experience in the AI era."

About NICE
With NICE (Nasdaq: NICE), it’s never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world’s #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. www.nice.com

Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.

Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Cooper, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the “Company”). In some cases, such forward-looking statements can be identified by terms such as “believe,” “expect,” “seek,” “may,” “will,” “intend,” “should,” “project,” “anticipate,” “plan,” “estimate,” or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions; competition; successful execution of the Company’s growth strategy; success and growth of the Company’s cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company’s dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, such as the impact of conflicts in the Middle East that may disrupt our business and the global economy; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the “SEC”). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company’s Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240905232629/en/

Corporate Media Contact

Christopher Irwin-Dudek, +1 201 561 4442, media@nice.com, ET

Investors

Marty Cohen, +1 551 256 5354, ir@nice.com , ET

Omri Arens, +972 3 763 0127, ir@nice.com, CET

Source: NICE

FAQ

What recognition did NICE (NICE) receive in Metrigy's 2024 CCaaS Provider Ranking?

NICE was named the undisputed leader in Metrigy's CCaaS MetriRank 2024 report for the second consecutive year, earning top scores in market share, financial strength, product mix, and customer business success.

How did NICE (NICE) perform in customer business success metrics?

NICE received the highest possible score for customer business success, including the highest score for first contact resolution at 65.6% and the lowest agent attrition rate among evaluated vendors.

What is NICE's (NICE) CXone Mpower and how was it described in the Metrigy report?

CXone Mpower is described as the ultimate CX-aware AI solution, combining NICE's CXone platform with the Enlighten suite. Metrigy positioned it for companies undergoing complete CX transformation or looking to increase automation and digital engagement capabilities.

How did Metrigy assess NICE's (NICE) financial position in the 2024 CCaaS report?

Metrigy highlighted NICE's strong financial position, stating that its financial strength places NICE in a unique position among peers, many of which are not profitable or have negative operating margins.