Strong Performance Leads to Multiyear Renewal of Business
ENGLEWOOD, CO, Jan 08, 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 renewed a
multiyear agreement with a current broadband communications client.
The client, a Fortune 500 broadband communications provider, first
began working with TeleTech in 2002 and the business has continued to
grow since that time. Under the renewed agreement, TeleTech will
continue to provide multilingual care and technical support from
multiple global locations for the client's many product offerings.
Support includes repair troubleshooting, inbound inquiries, and
service and installation booking and will operate in channels that
include phone, email, and Web chat.
"TeleTech's global sourcing model supports the client's strategic
initiatives to maximize quality and cost savings," said Kenneth
Tuchman, chairman and chief executive officer at TeleTech. "Our
expertise and our broad array of front- to back-office capabilities
make us a natural partner for this well known brand."
TeleTech, a leader in serving the communications 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 more than 52,000 employees utilizing 37,700
workstations across 90 delivery centers in 18 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: all reported results are presented without taking into
account any adjustments that may be required in connection with the
ongoing review of TeleTech's accounting for equity-based compensation
plans and should be considered preliminary until TeleTech files its
Form 10-Q for the third quarter ended September 30, 2007; the review
and possible conclusions may have an impact on the amount and timing
of previously awarded non-cash equity-based compensation expense for
current and previous financial periods; 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 Stock Market for continued listing of our
shares; potential claims and proceedings relating to such matters,
including shareholder litigation and action by the SEC and/or other
governmental agencies; and 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 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; our
ability to achieve our year-end 2007 and 2008 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 Contacts:
Karen Breen
Investor Relations
303-397-8592
Jennifer Martin
Investor Relations
303-397-8634
Media Contact:
KC Higgins
Media Relations
303-434-8163
