New Business Process Outsourcing Contract to Provide Best Practices
and Process Improvement Services
ENGLEWOOD, Colo., July 26 /PRNewswire-FirstCall/ -- TeleTech Holdings,
Inc. (Nasdaq: TTEC), a leading global business process outsourcing (BPO)
provider, today announced that a Fortune 100 healthcare services provider has
signed an agreement to provide customer management services to benefits and
eligibility customers.
The client, one of the nation's largest health insurers, chose TeleTech
for this work based on TeleTech's expertise in healthcare BPO in addition to
its centralized infrastructure and exceptional facilities. Under the terms of
the agreement, estimated at more than $20 million in future revenue, TeleTech
will support customers with benefits and eligibility inquiries. After the
successful launch of the first phase of the program, there may be significant
opportunities available to TeleTech with the potential to expand the scope of
work.
"The healthcare industry faces challenges that include severe cost
pressure and the need for process improvement," said Kenneth Tuchman, chairman
and chief executive officer of TeleTech. "TeleTech has a proven track record
of solving these important business problems for companies in the healthcare
industry. Our expertise played a key role in securing an agreement with this
leading provider."
TeleTech, a pioneer in serving the healthcare 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 healthcare services clients, TeleTech
provides inventive solutions and results across five other industries.
About TeleTech:
TeleTech is a leading global business process outsourcing (BPO) company
that provides a full range of front-to-back office outsourced solutions
including customer management, transaction-based processing, and database
marketing services. TeleTech's comprehensive solutions include fully managed,
OnDemand services including infrastructure, software, and business
intelligence. TeleTech's ability to deliver innovative solutions globally
over a centralized and standardized delivery platform ensures a high quality,
consistent customer experience enabling clients to increase revenue, improve
profitability, and develop stronger customer relationships around the world.
TeleTech is a valued partner for clients that include Global 1000 businesses
and governments. Nearly 60 percent of TeleTech's revenue is generated
internationally with services offered in 150 languages from nearly every
continent on the globe. 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: our belief that we are continuing to see strong demand for our
services and that sales cycles are shortening; risks associated with
successfully integrating Direct Alliance Corporation and achieving anticipated
future revenue growth, profitability, and synergies; estimated revenue from
new, renewed, and expanded client business as volumes may not materialize as
forecasted or be sufficient to achieve our Business Outlook; achieving
expected profit improvement in our International BPO operations; the ability
to close and ramp new business opportunities that are currently being pursued
with existing clients and potential clients in order to achieve our Business
Outlook; our ability to execute our growth plans, including sales of new
products (such as TeleTech On Demand(TM) and TeleTech In Culture(TM); our
ability to achieve our year-end 2006 and 2007 financial goals and targeted
cost reductions set forth in our Business Outlook; the possibility of our
Database Marketing and Consulting segment not increasing revenue, lowering
costs, or returning to profitability; the possibility of lower revenue or
price pressure from our clients experiencing a downturn or merger in their
business; greater than anticipated competition in the Business Process
Outsourcing ("BPO") and customer management 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 we serve; consumers' concerns or adverse
publicity regarding our clients' products; our 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 our 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 we operate; changes in
accounting policies and practices promulgated by standard setting bodies; and
new legislation or government regulation that impacts the BPO and customer
management 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.
CONTACT:
Karen Breen
Investor Relations
+1-303-397-8592
KC
Higgins
Public Relations
+1-303-397-8325
Both of TeleTech Holdings, Inc.
