DENVER, July 20 /PRNewswire/ -- TeleTech Holdings, Inc. (Nasdaq: TTEC),
the leading global provider of outsourced e-commerce-enabling customer
management solutions (eCRM), today announced the availability of its
world-class eCRM solutions to businesses that internally manage their customer
relationship management function. TeleTech will leverage its industry-leading
methodology in building, staffing, managing and Internet-enabling
multi-channel customer interaction centers to provide professional services
and technology solutions to this expansive marketplace, which TeleTech has
classified as the "insource" market.
The Insource Market
International Data Corporation estimates TeleTech's traditional market,
worldwide customer relationship management services, is $49 billion, growing
at 22 percent per year. Industry experts attest that the insource market is
more than ten times larger than the traditional outsource market. Today,
TeleTech is the first company to actively address this market with a highly
scalable, global solution.
"In the traditional environment, our clients were faced with a make versus
buy decision, often struggling with whether to outsource their customer
management function, or retain full ownership of it," commented Scott
Thompson, TeleTech chief executive officer and president. "Historically,
insourcing has been our number one competitor. Going forward, we will be
embracing this marketplace rather than fighting it. We have set up an entire
enterprise that is focused on this market, turning what was once our
competition into a significant revenue and profit opportunity."
Insource Solutions(TM)
TeleTech has created a new business unit, Insource Solutions(TM), that is
focused exclusively on the insource market. This unit offers various
professional services designed to assist companies to enhance or build their
own customer interaction environments, as well as customized, remote-hosted
technology solutions. Willy Walker, senior vice president, strategy and
business development for TeleTech, leads this new division.
"Insource Solutions enables companies whose core competency is not
customer relationship management to leverage TeleTech's world-class eCRM
solutions whether or not they decide to outsource," commented Walker.
"TeleTech's mission is to build lifetime customer relationships through
360 degree customer care, and we now have the capability to offer our
Internet-integrated infrastructure and expertise to a broader marketplace."
Walker's organization has capitalized off of TeleTech's eighteen years of
experience providing end-to-end, scalable solutions to Global 1000 companies
to develop a suite of global, industry-leading insource solutions.
Professional services encompass TeleTech's competencies in CRM strategy
development, site selection, facilities build-out, agent hiring and training,
procurement, workforce management, systems integration, quality assurance
monitoring and disaster recovery services.
Additionally, TeleTech now offers CyberCare(TM), its comprehensive, multi-
channel eCRM technology, on a remote-hosted basis. A combination of
proprietary and best-of-breed technologies, CyberCare blends all channels of
customer communication, including voice, e-mail, Web chat, Web co-browsing,
fax and intelligent voice response, in a single platform.
Tapping these resources from a single, experienced vendor will enable
TeleTech's insource clients to reap the benefits of faster time to market,
high quality e-commerce deployment, a single common platform, economies of
scale and a single point of accountability, as compared with building an eCRM
capability internally.
"Our ability to offer one common platform and best-of-breed technologies
across the entire enterprise presents a very compelling value proposition to
clients," commented Ken Tuchman, TeleTech chairman of the board. "We have
been fine-tuning our strategy over the past eighteen months, and are now in a
position to aggressively attack the insource market. Unlike the competition,
we have the ability to leverage our existing relationships with leading Global
1000 companies and unleash the huge opportunity within their in-house
operations. We also will broaden our addressable market to smaller-scale
businesses that historically we turned away."
"TeleTech has prided itself on offering the best and fastest end-to-end
solution in the market, and we have grown dramatically as a result," concluded
Thompson. "TeleTech has been growing at nearly twice the rate of the
outsource CRM market, winning the majority of the large outsource contracts.
We are confident that this move into the insource arena will accelerate our
growth going forward, as well as further solidify our position at the
forefront of the eCRM industry."
TELETECH PROFILE
Founded in 1982, TeleTech is the leading provider of integrated,
e-commerce-enabling customer management solutions (eCRM) for global
organizations predominantly in the telecommunications, financial services,
technology, government and transportation industries. Its innovative customer
interaction platform, CyberCare(TM), integrates the full spectrum of voice and
Internet communications, including custom e-mail response, "chat" and
extensive Web co-browsing capabilities. TeleTech operates
15,300 state-of-the-art customer interaction center workstations and employs
19,300 people in nine countries. Through 35 customer interaction centers in
the Americas, Europe and Asia, TeleTech couples high-velocity e-infrastructure
service deployment with premier quality e-customer relationship management to
assure our clients/partners unparalleled success in acquiring, retaining and
growing customer relationships.
Information regarding TeleTech Holdings can be found on the Worldwide Web
at http://www.teletech.com.
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements
that involve substantial risks and uncertainties. In accordance with the
Private Securities Litigation Reform Act of 1995, following are important
factors that could cause TeleTech's actual results to differ materially from
those expressed or implied by such forward-looking statements: lower than
anticipated customer interaction center capacity utilization; the loss or
delay in implementation of a customer management program; TeleTech's ability
to build-out facilities in a timely and economic manner; greater than
anticipated competition from new entrants into the customer care market,
causing increased price competition or loss of clients; the loss of one or
more significant clients; higher than anticipated start-up costs associated
with new business opportunities; TeleTech's ability to predict the potential
volume or profitability of any future technology or consulting sales;
TeleTech's agreements with clients may be canceled on relatively short notice;
and TeleTech's ability to generate a specific level of revenue is dependent
upon customer interest in and use of the Company's clients' products and
services. Readers are encouraged to review TeleTech's 1999 Annual Report on
Form 10-K and quarterly report on form 10-Q for the first quarter 2000, which
describe other important factors that may impact TeleTech's business, results
of operations and financial condition.
SOURCE TeleTech Holdings, Inc.
Web site:
http://www.teletech.com
Company News On-Call:
http://www.prnewswire.com/comp/107907.htmlor fax, 800-758-5804, ext. 107907
CONTACT: Emily Eikelberner, Investor Relations of TeleTech
Holdings, 303-894-7360,
emilyeikelberner@teletech.com
