Welcome to our dedicated page for TTEC Holdings news (Ticker: TTEC), a resource for investors and traders seeking the latest updates and insights on TTEC Holdings stock.
TTEC Holdings, Inc. (NASDAQ:TTEC) is a prominent global player in the customer experience (CX) technology and services sector. Established in 1982, TTEC has been at the forefront of delivering innovative AI-enabled CX solutions that cater to both iconic and disruptive brands. The company operates through two main segments: TTEC Digital and TTEC Engage.
TTEC Digital focuses on creating and implementing cloud-based and on-premises customer experience tools that help clients develop comprehensive customer engagement strategies. This segment leverages next-gen digital and cognitive technology to design, build, and operate omnichannel contact center technology, CRM, automation (AI/ML and RPA), and analytics solutions.
TTEC Engage is dedicated to delivering sales and marketing solutions aimed at boosting client revenue. It manages customer front-to-back office processes to enhance the overall customer experience. This segment provides digital customer engagement, customer acquisition and growth, content moderation, fraud prevention, and data annotation solutions.
Serving a diverse clientele across the United States, Canada, Asia-Pacific, and India, TTEC has earned high client NPS scores globally. Its 64,400 employees operate on six continents, merging technology with human expertise to deliver exceptional customer outcomes.
Recently, TTEC has received several accolades, including being named the Cisco Partner Summit 2023 Collaboration Partner of the Year for the U.S. West Region. The company has also been certified as a Great Place to Work® in 14 countries, highlighting its commitment to fostering a positive workplace culture.
Latest news from TTEC includes the results of its inaugural AI Readiness Assessment, which indicates a shift from AI hype to practical implementation demands. Additionally, the company announced the appointment of Kenneth R. Wagers III as the new Chief Financial Officer, effective March 1, 2024.
TTEC continues to make strides in the digital transformation of customer interactions, driving revenue growth and improving customer loyalty through its innovative solutions and strategic partnerships. The company’s financial health remains robust, with a focus on sustainable growth initiatives and debt reduction.
TTEC Holdings (NASDAQ: TTEC) has achieved Silver Certification in Management Leadership for Tomorrow's (MLT) Black Equity at Work program, demonstrating progress in advancing racial equity. The certification recognizes TTEC's commitment across core business functions including hiring, promotion, compensation, and workplace inclusion.
The certification followed a rigorous evaluation process assessing the company's progress in key areas: Black representation at all levels, inclusive workplace culture, fair compensation practices, and employee development opportunities. TTEC's employee resource group, Champions of Color, has been instrumental in fostering an inclusive environment through various initiatives and cultural celebrations.
TTEC Digital, a division of TTEC Holdings (NASDAQ: TTEC), has been named Cisco Reimagine Customer Experiences Partner of the Year for the Americas. The company achieved 44% year-over-year growth in bookings with Cisco in FY24. TTEC Digital has expanded its services with new offerings including WxCC Jet and InteractionSync for Cisco Webex Contact Center, while focusing on the commercial space with Webex Enterprise Contact Center solutions.
As a 20-year Cisco partner and five-time partner of the year winner, TTEC Digital was the first to implement Cisco Contact Center in the cloud. The company serves various sectors including banking, healthcare, insurance, and government services, combining CX strategy with technology solutions.
TTEC Holdings (NASDAQ: TTEC) has released its top five Customer Experience (CX) trends for 2025, highlighting the convergence of AI, data, and global connectivity. The trends include: Borderless CX utilizing AI-powered translation tools; Advanced Data Insights for improved omnichannel strategies; AI in Self-Service combining autonomous agents with human support; Redefining the CX Workforce through AI-enhanced training; and Unlocking Customer Value through integrated sales efforts and data-driven insights.
The company emphasizes 2025 as a pivotal year where practical execution will supersede technological hype, focusing on building robust foundations for seamless customer experiences and operational readiness.
TTEC Digital has successfully implemented initial phases of a global sales process optimization (SPO) program for Westcon-Comstor, a global technology distributor. The program, active in 62 countries, has achieved notable results including: over 1,700 users with 92% adoption rate for daily sales activities and 158,000 new sales leads. The implementation began with a pilot in 2023 followed by a global rollout in 2024, focusing on streamlining sales processes, unifying data, and empowering teams with modern tools through Microsoft Dynamics 365 Sales platform.
TTEC Digital, a division of TTEC Holdings Inc. (NASDAQ: TTEC), has been named a Major Contender in the 2024 Everest Group PEAK Matrix® Assessment for Digital Transformation Services for Mid-market Enterprises. The recognition follows TTEC's earlier designation as a Leader in Everest Group's 2024 Customer Experience Management Services assessment. The evaluation highlights TTEC Digital's strengths in delivering value through digital services, client relationships, and strategic market approach. The company's focus includes leveraging AI, data analytics, and automation to enhance customer experience for mid-market enterprises.
TTEC Holdings celebrates significant growth in India, marking one-year anniversaries of its Mumbai Customer Experience Center and Hyderabad Digital Innovation Studio. With 24 years of operations in India, TTEC has added 800 positions over the past year, bringing total employment to approximately 3,500 across locations including Ahmedabad and Chennai.
The Mumbai center delivers customer support and operational efficiency for global clients across healthcare, banking, financial services, insurance, and tech support. The Hyderabad studio serves as a hub for CX hyperscaler platforms, focusing on Contact Center, CRM, and AI & Analytics solutions.
TTEC's Indian workforce features 32% women, 82% degree holders, and 21% engineers. The company is recognized as a Great Place to Work® in India and among the Best Companies to Work for in Asia.
TTEC announced its third quarter 2024 financial results, reporting a 12.2% decline in revenue to $529.4 million compared to the prior year. The company posted a GAAP net loss of $19.0 million and a negative $0.40 fully diluted net loss per share. Adjusted EBITDA was $50.3 million, or 9.5% of revenue. Cash flow from operations was a negative $91.4 million, primarily impacted by the discontinuation of the accounts receivable factoring facility. TTEC's net debt increased to $931.5 million. Segment-wise, TTEC Digital revenue fell 13.2% to $115.7 million, while TTEC Engage revenue decreased 11.9% to $413.8 million. The company sold a real estate asset for $45.5 million to reduce debt and suspended its semi-annual cash dividend. Full-year 2024 guidance projects revenue of $2,210M-$2,260M and Non-GAAP EPS of $0.64-$0.83.
TTEC Holdings announced that its Special Committee has retained Rothschild & Co as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor. These appointments are to evaluate the unsolicited proposal from CEO Kenneth Tuchman to acquire remaining shares at $6.85 per share, received on September 27, 2024. The Special Committee is reviewing the proposal and potential alternatives, with no decision made yet. No immediate action is required from stockholders, and there's no guarantee of a definitive agreement or transaction completion.
TTEC Holdings has been named a Leader in Everest Group's 2024 Customer Experience Management (CXM) Services PEAK Matrix® Assessment for the Americas for the fourth consecutive year, while maintaining its Major Contender status in APAC and EMEA regions. The recognition highlights TTEC's excellence in delivering AI-enhanced CX solutions through its extensive delivery footprint and strategic partnerships with major tech providers.
The company's strengths include its workforce of over 50,000 agents, advanced AI-driven tools like RealSkill and LetMeKnow, and innovative engagement models such as SandCastleCX and SurroundCX. TTEC's global expansion into Colombia, Egypt, Malaysia, South Africa, and Rwanda, combined with its focus on digital transformation and AI-powered solutions, reinforces its position as a trusted global CXM partner.
TTEC Holdings, Inc. (NASDAQ:TTEC), a leading global CX technology and services innovator for AI-enabled CX solutions, has announced its schedule for the release of third quarter 2024 earnings. The company will release its earnings results after market close on Wednesday, November 6, 2024, followed by a press release. TTEC will then host a live webcast and conference call at 8:30 a.m. ET on Thursday, November 7, 2024.
Investors and interested parties are invited to join the live webcast by visiting the "Investors Relations" section of the TTEC website at www.ttec.com. For those unable to participate during the live webcast, a replay will be available on the TTEC website.
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