TeleTech to Lead Organization-Wide Initiative to Create Integrated, Unified
Customer Care Infrastructure
ENGLEWOOD, Colo., March 14 /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 100 healthcare services provider has signed an expanded
agreement to provide customer management services to claims, benefits, and
eligibility customers.
This client first began working with TeleTech in July 2005 and in just
nine months is now expected to become one of TeleTech's top 10 clients during
2006. The expanded work represents an approximate 60% increase in business.
Under the multiyear contract, TeleTech will continue to provide customer
management services across four of the client's business units, supporting
customers with claims, benefits, and eligibility inquiries. TeleTech will
also offer strategic consulting services and implementation support for an
organization-wide initiative to unify the client's back-office infrastructure,
optimize its operational processes, and create more efficiency in its
technology platforms and applications. As part of this initiative, TeleTech
will partner with the client to restructure the client's many delivery
capabilities into a single common platform that dramatically increases
efficiency, volume, and service consistency.
"The healthcare insurance industry is going through a period of
significant consolidation, which brings with it inherent integration
challenges that include disparate infrastructure, technology, and business
processes," said Kenneth Tuchman, chairman and chief executive officer of
TeleTech. "TeleTech has a strong track record of solving these important
business problems for companies in the healthcare industry, and that expertise
played a significant role in securing this contract to expand our work with
this client."
The TeleTech solution will support client operations in all 50 states and
four business divisions through a blended multisite model. By supporting the
client from multiple sites with standardized processes, the client was able to
expand its program nearly tenfold over its initial engagement with TeleTech.
TeleTech, a leader 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: 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.
CONTACT:
Investors
Karen Breen
Investor Relations
+1-303-397-8592
Media
KC Higgins
Public Relations
+1-303-397-8325
Both of TeleTech
Holdings, Inc.
