DENVER, Nov. 18 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a global provider of customer solutions, today announced a
multi-year agreement with Best Buy Co., Inc., North America's leading
specialty retailer of consumer electronics, personal computers, entertainment
software and appliances, with more than 500 retail stores in 48 states.
Under terms of the agreement, TeleTech will manage product inquiry and
availability, order tracking and placement, and warranty and delivery
information for BestBuy.com, the second largest online retailer in the world.
Additionally, TeleTech will utilize its state-of-the-art technology platform,
reengineering processes and operational best practices to enable Best Buy's
strategic consolidation and cost improvement initiatives, and to further
solidify its position as one of the world's premier online retailers.
"Best Buy serves more than 300 million consumers each year," said Julie
Owen, Best Buy's vice president of business operations/integration
advertising. "As our largest store, BestBuy.com reaches more customers than
any physical Best Buy store, and we needed a partner that could grow with us
as we continue to expand our customer base. We are confident that TeleTech's
global operating model, scalability and cost improvement strategies will
enable us to reach our strategic goals, while providing exceptional support to
our customers."
"Best Buy is one of the most recognized brands in the retail industry,"
said James Kaufman, TeleTech's president and general manager of commercial,
financial services and government markets. "TeleTech's goal is to provide
clients with tailored customer solutions that improve costs and revenue while
enhancing customer experiences. Our global enterprise enables us to deliver
an integrated service offering that provides a customized and cost-effective
solution for Best Buy."
ABOUT TELETECH
TeleTech, a leading provider of integrated customer solutions, partners
with global clients to develop and execute relevant solutions that enable them
to build and grow profitable relationships with their customers. TeleTech has
built a global capability supported by 62 customer management centers that
employ more than 31,000 professionals spanning North America, Latin America,
Asia-Pacific and Europe. For additional information, visit 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 and its subsidiaries' actual results to
differ materially from those expressed or implied by such forward-looking
statements, including: economic or political changes affecting the countries
in which the company operates; greater than anticipated competition in the
customer care market, causing increased price competition or loss of clients;
the reliance on a few major clients; the risks associated with losing one or
more significant client relationships; the renewal of client or vendor
relationships on favorable terms; the risks associated with client
concentration; the company's ability to develop and successfully manage new
technology or Database Marketing and Consulting sales; the company's ability
to collect monies owed from clients per contract terms and conditions in a
timely manner; higher than anticipated start-up costs associated with new
business opportunities and ventures; the company's ability to find cost
effective locations, obtain favorable lease terms and build or retrofit
facilities in a timely and economic manner; lower than anticipated customer
management center capacity utilization; consumers' concerns or adverse
publicity regarding the products of the company's clients; the company's
ability to close new business in 2003 and fill excess capacity; execution
risks associated with achieving the targeted $40 million in annualized cost
savings; the possibility of additional asset impairments and restructuring
charges; the ultimate liability associated with the amount of past sales or
use tax obligations for its Database Marketing and Consulting and North
American Outsourcing segments; changes in workers' compensation and general
liability premiums; increases in healthcare costs; risks associated with
changes in foreign currency exchange rates; changes in accounting policies and
practices pronounced by standard setting bodies; and, new legislation or
government regulation that impacts the customer care industry. Readers should
review the company's Form 10-K for the year ended December 31, 2002, Forms
10-Q for the first, second and third quarters of 2003 and other documents
filed with the Securities and Exchange Commission, which describe in greater
detail these and other important factors that may impact the company's
business, results of operations, financial condition and cash flows. The
company assumes no obligation to update its forward-looking statements to
reflect actual results or changes in factors affecting such forward-looking
statements.
SOURCE TeleTech Holdings, Inc.
