New Program Targets Credit Card Offering
ENGLEWOOD, Colo., March 22 /PRNewswire-FirstCall/ -- TeleTech Holdings,
Inc. (Nasdaq: TTEC), one of the largest and most geographically diverse global
providers of business process outsourcing (BPO) solutions, today announced
that it has signed a multiyear agreement with a leading financial services
firm.
The agreement will support business process services for a Fortune 200
financial services provider. TeleTech associates will provide account
management services, primarily supporting the firm's credit card business, to
enhance customer retention and loyalty efforts. Services include an integrated
BPO solution encompassing statement inquiries, credit limit increases, address
changes, finance charges, payments, billing disputes, merchant and cash
authorizations, balance transfers, enhancements, and reward programs.
"TeleTech serves 20 leading financial services providers and has developed
industry-leading best practices for those organizations," said Kenneth Tuchman,
chairman and chief executive officer of TeleTech. "We look forward to building
a long-term relationship with this new client."
TeleTech, a leader in serving the financial services industry, brings
together advanced technologies and human resources to deliver superior return
on investment to clients through high-value, innovative solutions. TeleTech
assists clients with agility and growth by transforming their infrastructure
and business processes to optimize existing assets, lower costs, and provide
new revenue streams.
ABOUT TELETECH
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 135 global clients in the
automotive, communications, financial services, government, healthcare, retail,
technology and travel and leisure industries. Our integrated global solutions
are provided by 47,000 employees utilizing 33,600 workstations across 88
business process Delivery Centers in 17 countries.
FORWARD-LOOKING STATEMENTS
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(TM)); 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 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.
CONTACT:
Investors
Karen Breen
Investor Relations
+1-303-397-8592
Media
KC Higgins
Public Relations
+1-303-434-8163
Both of TeleTech
Holdings, Inc.
