New Facility to Support Growing Need for Global Outsourcing
ENGLEWOOD, CO--(MARKET WIRE)--Jul 17, 2007 -- TeleTech Holdings, Inc. (NasdaqGS:TTEC - News), one of the largest and most geographically diverse global providers of business process outsourcing (BPO) solutions, today announced the opening of a new delivery center in San Jose, Costa Rica, to serve global clients seeking multiple levels of support. The new facility is TeleTech's first in Costa Rica.
TeleTech initially expanded operations into Latin America in 1997 and has strategically grown its footprint in the region since that time. The San Jose delivery center will initially contribute more than 700 new workstations to the existing 7,400 currently in use in Brazil, Argentina, and Mexico. The center will offer front- to back-office services to clients requiring English or bilingual business process outsourcing support. The facility is located in Zona Franca Del Este, an urban area close to the largest concentration of universities in the country and near main transportation lines.
"Expanding to Costa Rica is a logical next step in our global diversification strategy," said Brian Delaney, executive vice president of global service delivery for TeleTech. "We have a broad base of clients in Spain and North America seeking multiple levels of BPO support, and San Jose allows us to offer expanded services in a near-shore location to our rapidly growing client base."
"In my duties as President of the Republic, and moreover as a citizen of a country that untiringly fights to leave the under-development, I am extremely pleased that TeleTech has decided to initiate operations in our country; providing well remunerated, quality jobs to the Costa Rican youth," Costa Rican President and Nobel Peace Prize laureate, Oscar Arias said.
During the past few years, Costa Rica has developed a strong relationship with companies in the global services industry who have chosen to build a presence there. The country's educated labor force, stable political environment, and favorable investment climate, provides increasing opportunities for employment by multinational firms such as TeleTech.
"We hope that this relation continues to strengthen and that TeleTech finds in Costa Rica everything they expect, and much more," Arias said.
TeleTech is one of the largest and most geographically diverse global providers of business process outsourcing solutions. We have a 25-year history of designing, implementing, and managing critical business processes for Global 1000 companies to help them improve their customers' experience, expand their strategic capabilities, and increase their operating efficiencies. By delivering a high-quality customer experience through the effective integration of customer-facing front-office processes with internal back-office processes, we enable our clients to better serve, grow, and retain their customer base. We use Six Sigma-based quality methods continually to design, implement, and enhance the business processes we deliver to our clients and we also apply this methodology to our own internal operations. We have developed deep domain expertise and support approximately 300 business process outsourcing programs serving approximately 130 global clients in the automotive, communications, financial services, government, healthcare, retail, technology and travel and leisure industries. Our integrated global solutions are provided by 49,000 employees utilizing 33,200 workstations across 88 delivery centers in 18 countries.
This press release may contain certain forward-looking statements that involve risks and uncertainties. The projections and statements contained in these forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. All statements not based on historical fact are forward-looking statements that involve substantial risks and uncertainties. In accordance with the Private Securities Litigation Reform Act of 1995, following are important factors that could cause our 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; the ability to close and ramp new business opportunities that are currently being pursued or that are in the final stages with existing and/or potential clients in order to achieve our Business Outlook; estimated revenue from new, renewed, and expanded client business as volumes may not materialize as forecasted or be sufficient to achieve our Business Outlook; the possibility of lower revenue or price pressure from our clients experiencing a business downturn or merger in their business; greater than anticipated competition in the 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 execute our growth plans, including sales of new services (such as TeleTech OnDemand™); our ability to achieve our year-end 2007 and 2008 financial goals, including those set forth in our Business Outlook; achieving continued profit improvement in our International Business Process Outsourcing (BPO) operations; risks associated with attracting and retaining cost-effective labor at our delivery centers; the possibility of additional asset impairments and restructuring charges; risks associated with changes in foreign currency exchange rates; the possibility of future impairments and / or restructuring charges in our Database Marketing and Consulting segment; our ability to find cost effective delivery locations, obtain favorable lease terms, and build or retrofit facilities in a timely and economic manner; risks associated with business interruption due to weather, pandemic or terrorist-related events; 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 Quarterly Report on Form 10-Q for the quarter ended March 31, 2007 and the Annual Report on Form 10-K for the year ended December 31, 2006, 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.