TeleTech to Provide Strategic Business Process Services Through 2009
DENVER, Feb. 2 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc.
(Nasdaq: TTEC), the leading global provider of customer management and
transaction-based business process outsourcing (BPO) services, today announced
that a Fortune 20 company in the financial services industry has renewed its
relationship with TeleTech to provide customer management services to its
retail banking customers through 2009.
Under the multiyear agreement, TeleTech will continue to support the
client's customer management processes for all of its retail banking customers
using standard practices across multiple sites to support the expanded scope
of services. Additionally, TeleTech will restructure the client's many
delivery capabilities into a single common platform that dramatically
increases efficiency, volume, and service consistency.
"This global banking institution has made a strategic commitment to
customer service as a powerful competitive differentiator, and the expanded
agreement is a validation of our effectiveness in supporting that corporate
goal," said Kenneth Tuchman, chairman and chief executive officer of TeleTech.
"Our proprietary technology and patented business processes support in-depth
customer analytics and segmentation that enable the client to target and serve
its customers proactively and efficiently."
During the past four years, TeleTech has provided the client comprehensive
strategies and streamlined processes to promote an integrated service
environment. TeleTech deployed sophisticated analytics and dispositioning
tools, enabling the client to identify root causes that drive customer
inquiries.
By establishing an integrated service model that utilizes a unified
customer management platform, TeleTech enables clients to reduce the
inefficiencies that increase expenses, which has a measurable impact on their
earnings per share. TeleTech has a proven approach for addressing challenges
that help clients achieve truly synchronized operations across their entire
organizations.
TeleTech, a leader in serving the financial services industry, brings
together advanced technologies and human capital to deliver superior return on
investment to clients through high value innovative solutions. TeleTech
assists clients in becoming agile by transforming their infrastructure and
business processes to optimize existing assets, control costs, and produce new
revenue streams. In addition to financial services clients, TeleTech provides
inventive solutions and results across five other industries.
About TeleTech:
TeleTech is the leading global business services company that provides a
full range of front-to-back office outsourced solutions including customer
management, BPO, and database marketing services to measurably enhance
clients' core customer management processes. TeleTech's comprehensive
solutions include fully managed, technology-based services including
infrastructure, software applications, and business intelligence. TeleTech's
ability to create innovative strategies, combined with its global technology
platform and delivery infrastructure, helps clients increase revenue, lower
costs, and retain their customers around the world. TeleTech's products and
services, standardized processes, and recognized capabilities to implement
complex global projects make the Company a valued partner for clients that
include Global 1000 businesses and governments. TeleTech partners with
clients to offer 150 languages, through its 36,000 employees, in 17 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 Company's estimates and or beliefs regarding certain fourth
quarter 2005 and 2006 financial results; estimated revenue from new, renewed
or expanded client business; achieving the Company's expected profit
improvement in its International operations; the ability to close, ramp and/or
grow new business opportunities within its Embedded Client Base, with New
Client Logo agreements or with potential clients; the ability for the Company
to execute its growth plans, including sales of new products (such as TeleTech
On Demand(TM) and TeleTech In Culture(TM)); to increase profitability via the
globalization of its North American best operating practices; to achieve its
year-end 2007 financial goals and targeted cost reductions; the possibility of
the Company's Database Marketing and Consulting not returning to historic
levels of profitability; the possibility of lower revenue or price pressure
from clients experiencing a downturn or merger in their business; greater than
anticipated competition in the customer care market, causing adverse pricing
and more stringent contractual terms; risks associated with losing or not
renewing client relationships, particularly large client agreements, or early
termination of a client agreement; the risk of losing clients due to
consolidation in the industries the Company serves; 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; 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 or terrorist-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 December 31, 2004 and Quarterly Report on Form 10-Q for the three months
ended September 30, 2005, 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, Investor Relations, +1-303-397-8592, or
Media, KC Higgins, Public Relations, +1-303-397-8325, both of TeleTech
Holdings, Inc.
