DENVER, Nov. 10 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a global provider of customer solutions, today announced a
contract with Circuit City Stores, Inc., an industry-leading retailer of
consumer electronics, personal computers, software, movies, music and games.
Under terms of the agreement, TeleTech will utilize its state-of-the-art
customer management centers in the Philippines and India to provide customer
service, sales, warranty and private label credit card support for Circuit
City. As part of Circuit City's strategic initiative to gain consumer
insight, TeleTech will also provide Circuit City with a consolidated report
that will identify and analyze consumer trends to improve communication and
profitability.
"This agreement represents the next step for Circuit City in both
improving our customer service and reducing our operating costs," said Dennis
Bowman, Circuit City's chief information officer. "We were impressed by
TeleTech's flexibility in responding to our business changes and its strong
reputation in customer care."
"The dynamic nature of the retail industry required TeleTech to create a
solution that improves the customer experience, while simultaneously
streamlining Circuit City's operations to enhance cost savings," said Kenneth
Tuchman, TeleTech's chairman and chief executive officer. "Our solution for
Circuit City leverages our presence in the Asia-Pacific region to
strategically utilize our world-class technology infrastructure and customer
service professionals to ensure that Circuit City's customers can always
expect superior service."
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.
