DENVER, July 20 /PRNewswire/ -- TeleTech Holdings, Inc. (Nasdaq: TTEC), the leading global provider of outsourced e-commerce-enabling customer management solutions (eCRM), today announced the availability of its world-class eCRM solutions to businesses that internally manage their customer relationship management function. TeleTech will leverage its industry-leading methodology in building, staffing, managing and Internet-enabling multi-channel customer interaction centers to provide professional services and technology solutions to this expansive marketplace, which TeleTech has classified as the "insource" market.
The Insource Market
International Data Corporation estimates TeleTech's traditional market, worldwide customer relationship management services, is $49 billion, growing at 22 percent per year. Industry experts attest that the insource market is more than ten times larger than the traditional outsource market. Today, TeleTech is the first company to actively address this market with a highly scalable, global solution.
"In the traditional environment, our clients were faced with a make versus buy decision, often struggling with whether to outsource their customer management function, or retain full ownership of it," commented Scott Thompson, TeleTech chief executive officer and president. "Historically, insourcing has been our number one competitor. Going forward, we will be embracing this marketplace rather than fighting it. We have set up an entire enterprise that is focused on this market, turning what was once our competition into a significant revenue and profit opportunity."
Insource Solutions(TM)
TeleTech has created a new business unit, Insource Solutions(TM), that is focused exclusively on the insource market. This unit offers various professional services designed to assist companies to enhance or build their own customer interaction environments, as well as customized, remote-hosted technology solutions. Willy Walker, senior vice president, strategy and business development for TeleTech, leads this new division.
"Insource Solutions enables companies whose core competency is not customer relationship management to leverage TeleTech's world-class eCRM solutions whether or not they decide to outsource," commented Walker. "TeleTech's mission is to build lifetime customer relationships through 360 degree customer care, and we now have the capability to offer our Internet-integrated infrastructure and expertise to a broader marketplace."
Walker's organization has capitalized off of TeleTech's eighteen years of experience providing end-to-end, scalable solutions to Global 1000 companies to develop a suite of global, industry-leading insource solutions. Professional services encompass TeleTech's competencies in CRM strategy development, site selection, facilities build-out, agent hiring and training, procurement, workforce management, systems integration, quality assurance monitoring and disaster recovery services.
Additionally, TeleTech now offers CyberCare(TM), its comprehensive, multi- channel eCRM technology, on a remote-hosted basis. A combination of proprietary and best-of-breed technologies, CyberCare blends all channels of customer communication, including voice, e-mail, Web chat, Web co-browsing, fax and intelligent voice response, in a single platform.
Tapping these resources from a single, experienced vendor will enable TeleTech's insource clients to reap the benefits of faster time to market, high quality e-commerce deployment, a single common platform, economies of scale and a single point of accountability, as compared with building an eCRM capability internally.
"Our ability to offer one common platform and best-of-breed technologies across the entire enterprise presents a very compelling value proposition to clients," commented Ken Tuchman, TeleTech chairman of the board. "We have been fine-tuning our strategy over the past eighteen months, and are now in a position to aggressively attack the insource market. Unlike the competition, we have the ability to leverage our existing relationships with leading Global 1000 companies and unleash the huge opportunity within their in-house operations. We also will broaden our addressable market to smaller-scale businesses that historically we turned away."
"TeleTech has prided itself on offering the best and fastest end-to-end solution in the market, and we have grown dramatically as a result," concluded Thompson. "TeleTech has been growing at nearly twice the rate of the outsource CRM market, winning the majority of the large outsource contracts. We are confident that this move into the insource arena will accelerate our growth going forward, as well as further solidify our position at the forefront of the eCRM industry."
TELETECH PROFILE
Founded in 1982, TeleTech is the leading provider of integrated, e-commerce-enabling customer management solutions (eCRM) for global organizations predominantly in the telecommunications, financial services, technology, government and transportation industries. Its innovative customer interaction platform, CyberCare(TM), integrates the full spectrum of voice and Internet communications, including custom e-mail response, "chat" and extensive Web co-browsing capabilities. TeleTech operates 15,300 state-of-the-art customer interaction center workstations and employs 19,300 people in nine countries. Through 35 customer interaction centers in the Americas, Europe and Asia, TeleTech couples high-velocity e-infrastructure service deployment with premier quality e-customer relationship management to assure our clients/partners unparalleled success in acquiring, retaining and growing customer relationships.
Information regarding TeleTech Holdings can be found on the Worldwide Web at http://www.teletech.com.
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 TeleTech's actual results to differ materially from those expressed or implied by such forward-looking statements: lower than anticipated customer interaction center capacity utilization; the loss or delay in implementation of a customer management program; TeleTech's ability to build-out facilities in a timely and economic manner; greater than anticipated competition from new entrants into the customer care market, causing increased price competition or loss of clients; the loss of one or more significant clients; higher than anticipated start-up costs associated with new business opportunities; TeleTech's ability to predict the potential volume or profitability of any future technology or consulting sales; TeleTech's agreements with clients may be canceled on relatively short notice; and TeleTech's ability to generate a specific level of revenue is dependent upon customer interest in and use of the Company's clients' products and services. Readers are encouraged to review TeleTech's 1999 Annual Report on Form 10-K and quarterly report on form 10-Q for the first quarter 2000, which describe other important factors that may impact TeleTech's business, results of operations and financial condition. SOURCE TeleTech Holdings, Inc.
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CONTACT: Emily Eikelberner, Investor Relations of TeleTech
Holdings, 303-894-7360, emilyeikelberner@teletech.com