Expanded Multilingual Program Targets Technical Support and Training Programs
ENGLEWOOD, CO, Jun 25, 2008 (MARKET WIRE via COMTEX News Network) -- 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 expanded its
multiyear agreement with a leading global financial services company.
The client, a Fortune 500 company, has selected TeleTech to continue
to provide BPO services in three major business areas including
product technical support, technical training, and virtual eLearning
campus. Under the terms of the agreement, TeleTech will expand its
comprehensive front- to back-office solution to continue to address
complex Tier I and Tier II technical support needs. The work requires
deep understanding of intricate client applications and all
associated hardware and ancillary equipment used to support client
operations.
TeleTech associates will handle transactions in English, Spanish,
French, Portuguese, Mandarin, Cantonese, and several other languages.
In addition to complex technical support of key client products,
TeleTech will continue providing training services for nine unique
program types. TeleTech will also support ongoing development of the
global standards for the client's eLearning campus.
TeleTech's global sourcing model supports the client's strategic
initiatives to improve the quality of service delivery, said Kenneth
Tuchman, chairman and chief executive officer at TeleTech. Our
expertise as a 26-year BPO provider, in addition to the excellent
service and technical support skills available from our worldwide
locations, makes TeleTech the ideal partner for this expanded
program.
ABOUT TELETECH
TeleTech is one of the largest and most geographically diverse global
providers of business process outsourcing solutions. We have a
26-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 100 global clients in the automotive, communications and
media, financial services, government, healthcare, retail, technology
and travel and leisure industries. Our integrated global solutions
are provided by 51,000 employees utilizing 38,000 workstations across
88 delivery centers in 18 countries.
FORWARD-LOOKING STATEMENTS
Certain statement in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, which can be identified by words such as may,
will, expect, anticipate or comparable words. These statements
include, but are not limited to, statements regarding the Company's
restatement of its historical financial statements to record
additional non-cash, stock-based compensation expense related to its
past stock-option grants, as well as the Company's expectations
regarding revenue, operating margin, capital expenditures,
workstations, demand, offshore revenue and delivery capacity, unusual
charges, and other statements in this press release. 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. Important factors that could
cause our actual results to differ materially from those expressed or
implied by such forward-looking statements, include but are not
limited to the following: all reported results are presented without
taking into account any adjustments that may be required in
connection with the review of TeleTech's accounting for equity-based
compensation plans and should be considered preliminary until
TeleTech files its Form 10-Q for the quarter ended March 31, 2008;
the effect of TeleTech's failure to timely file all of its required
reports under the Securities and Exchange Act of 1934, including the
potential of a default under its credit facility; our ability to meet
the requirements of the NASDAQ Global Select Market for continued
listing of our shares; any future decisions by the NASDAQ Global
Select Market regarding continued listing of TeleTech's common
shares; potential claims and proceedings relating to such matters,
including shareholder litigation and action by the SEC and/or other
governmental agencies; negative tax or other implications for TeleTech
resulting from any accounting adjustments or other factors; our
belief that we are continuing to see strong demand for our services;
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 markets, 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;
our ability to achieve our year-end 2008 and 2009 financial goals,
including those set forth in our Business Outlook; 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; 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; achieving continued profit improvement in our
International BPO operations; 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.
Investor Contact:
Karen Breen
Investor Relations
303-397-8592
Media Contact:
KC Higgins
Media Relations
303-434-8163
