New InCulture(TM) Business Unit to Deliver Marketing Solutions to Growing
Multicultural Markets
DENVER, Jan. 18 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), a leading global provider of customer management and business
process outsourcing (BPO) solutions, today announced the launch of its new
InCulture(TM) service offering.
TeleTech's InCulture service offering will initially focus on providing
real time language translation services, also known as over the phone
interpretation (OPI), for its client's customers in multiple languages.
Studies have shown when customers are able to converse in their primary
language, customer satisfaction and retention levels increase, enabling
companies to benefit from previously untapped revenue opportunities. With
TeleTech's InCulture offering, clients can now cost effectively provide their
customers with
24-hour service, seven days a week, regardless of what language they speak.
With a multicultural population that has reached over 95 million in the
United States alone, and a combined buying power estimated at over
$1.3 trillion, multicultural markets represent a significant global revenue
opportunity for both TeleTech and its clients.
Unlike traditional services that provide basic translation capabilities,
TeleTech's InCulture is an entire suite of products designed to help clients
acquire, grow, and maintain customers in the customers' preferred language.
InCulture is a natural extension of TeleTech's core business capabilities and
leverages its existing infrastructure -- allowing TeleTech to offer more than
150 languages from its presence in 16 countries that span the Americas,
Europe, and Asia Pacific.
In addition to OPI services, TeleTech InCulture plans to offer additional
multicultural marketing solutions that will enable clients proactively to
serve customers within their targeted markets.
"TeleTech's language translation services enables clients to personalize
their marketing efforts and provide a higher level of service to multicultural
markets," said Kenneth Tuchman, chairman and chief executive officer of
TeleTech. "OPI provides clients a significant return on investment, given it
offers meaningful revenue opportunities while also providing a cost effective
solution. In addition, they also benefit from TeleTech's global delivery
platform to ensure flexibility, scalability, and timely execution worldwide."
ABOUT TELETECH
TeleTech is a leading global provider of innovative strategies,
technology-enabled services, and outsourced solutions that measurably enhance
the value of client's core business processes. TeleTech's strategies,
services, and solutions help clients increase revenue, lower costs, and
delight and retain their customers. TeleTech's proven process methodology,
standardized global technology platform, and flawless execution of complex
global projects enable the company to demonstrate and deliver measurable
results that enhance the value of their clients' brands. TeleTech pioneered
"customer management outsourcing" 23 years ago and has led industry change by
broadening its services to encompass measurable value creation across core
business processes for clients that include the Global 1000. Today TeleTech
continues to innovate and redefine value creation globally, supporting
customers in 23 languages, through its more than 33,000 employees, in
16 countries. For additional information, visit www.TeleTech.com.
FORWARD-LOOKING STATEMENTS
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: the ability to successfully launch and generate revenue from
new product introductions; the estimated revenues associated with new or
renewed client agreements; 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 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 business interruption due to weather-
related events; 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
forward-looking statements.
SOURCE TeleTech Holdings, Inc.
CONTACT: Investors, Karen Breen or Dan Campbell, Investor Relations,
+1-303-397-8592, or Media, Julie Lucas, Public Relations, +1-303-397-8555,
all of TeleTech Holdings, Inc.
