Advanced System Integrates Accounts Receivable Management With Exceptional
DENVER, Aug. 12 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a leading global provider of customer management and business
process outsourcing solutions, today unveiled its enhanced suite of accounts
receivable management (ARM) services further building upon the company's
strategy to deliver innovative solutions to its clients through all stages of
the customer experience.
"We saw the need to develop these services because our clients have
increasingly turned to us for collections management expertise to improve
their cash flows," said Jim Greene, TeleTech's President of Global Financial
Services. "The number of variables that our clients must address to both
improve their financial performance and satisfy customer needs, are numerous
and difficult to consistently manage. Converting the accounts receivable and
collections management processes into a win-win for both the client and their
customer is a unique capability of ours, given our twenty year history of
managing complex customer relationships."
TeleTech launched ARM in its expanding global financial services vertical
and plans to integrate this new offering across its other divisions in 2004.
TeleTech is currently performing accounts receivable and collections
management solutions for five leading financial services clients across the
globe, and understands the direct correlation between a customer's
satisfaction level and their willingness to pay. TeleTech's ability to
seamlessly manage a client's customer interactions and accounts receivable
management needs is a distinct advantage for TeleTech and its clients.
"We believe integrating accounts receivable management with exceptional
customer service can make a meaningful difference in the financial performance
of our clients," said Kenneth Tuchman, chairman and chief executive officer.
"TeleTech has demonstrated its ability to jointly define and resolve clients'
business challenges and to create integrated solutions that improve their
accounts receivable turnover and ultimately their cash flows. Our clients can
now leverage TeleTech's expertise, flexible technology, and capital resources
to also benefit from our accounts receivable management solutions."
TeleTech is a global leader of integrated customer solutions and business
process outsourcing designed to help clients acquire, grow, and retain
profitable relationships with their customers. TeleTech strengthens customer
relationships for its clients by providing a combination of technologies,
processes, and professional services. Headquartered in Denver, Colo.,
TeleTech's worldwide capabilities are supported by more than 33,000
professionals in North America, Latin America, Asia-Pacific, and Europe. For
additional information, visit www.TeleTech.com.
This press release may contain certain forward-looking statements relating
to future results. The Private Securities Litigation Reform Act of 1995
provides a safe harbor for forward-looking statements. These forward-looking
statements are subject to risks and uncertainties that may cause TeleTech's
and its subsidiaries' actual results to differ materially from those expressed
or implied by such forward-looking statements, including but not limited to
the following: under U.S. generally accepted accounting principles, the
revenues, expenses, and profits associated with the launch of new client
agreements may be expensed up front or deferred over the life of the client
contract, and, accordingly, the profitability of these agreements may be
disproportionately skewed toward later periods; the possibility of the
company's Database Marketing and Consulting segment not returning to historic
levels of profitability; greater than anticipated competition in the customer
care market, causing adverse pricing and more stringent contractual terms;
risks associated with losing or not renewing significant client relationships,
or early termination of a client agreement; the company's ability to close new
business in 2004 and fill excess capacity; consumers' concerns or adverse
publicity regarding the products of the company's clients; higher than
anticipated start-up costs or lead times associated with new ventures or
business in new markets; execution risks associated with performance-based
pricing metrics in certain client agreements; execution risks associated with
achieving targeted annualized cost reductions; the company's ability to find
cost effective locations, obtain favorable lease terms, and build or retrofit
facilities in a timely and economic manner; risks associated with attracting
and retaining cost-effective labor at the company's customer management
centers; the possibility of additional asset impairments and restructuring
charges; risks associated with changes in foreign currency exchange rates;
economic or political changes affecting the countries in which the company
operates; changes in accounting policies and practices promulgated by standard
setting bodies; and, new legislation or government regulation that impacts the
customer care industry.
Please refer to the company's filings with the Securities and Exchange
Commission, including the company's Annual Report on Form 10-K for the year
ended 2003 and other more recent SEC filings, for a detailed discussion of
factors discussed above 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
SOURCE TeleTech Holdings, Inc.
/CONTACT: Investors, Karen Breen, +1-303-397-8592, or Dan Campbell,
+1-303-397-8634, or Media, Julie Lucas, +1-303-397-8555, all of TeleTech
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010130/TELETECHLOGO
PRN Photo Desk, firstname.lastname@example.org/
/Web site: http://www.teletech.com /
CO: TeleTech Holdings, Inc.
IN: CPR MLM
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7521 08/12/2004 09:15 EDT http://www.prnewswire.com