Concentrix Strengths, Domain Expertise, and Key Differentiators
Concentrix is a technology-enabled global business services company specializing in customer engagement and improving business performance for some of the world's best brands. Concentrix create better business outcomes and help differentiate clients through technology, design, data, process, and people. Concentrix provides services to clients in ten industry verticals: automotive; banking and financial services; insurance; healthcare; technology; consumer electronics; media and communications; retail and e-commerce; travel and transportation; energy and public sector.
Concentrix Recent Developments
In May 2021, Concentrix Corporation reached a definitive agreement to sell its insurance third-party administration operations and software platform (“Concentrix Insurance Solutions” or “CIS”) to Abry Partners, a Boston-based private equity firm, and Hoplon Capital, an asset manager focused on digital disruption of end markets including insurance. This will create a new company which will operate as a standalone business bringing innovation to the insurance marketplace.
In July 2017, Concentrix acquired Tigerspike, a global digital products company specializing in strategy, experience design, development, and systems integration. This transaction is intended to enhance Concentrix's digital competencies and drive further differentiation and growth in the market place through Tigerspike's digital domain expertise. The transaction aligns with Concentrix's stated strategy to further invest in digital and enabling technologies to create effortless, personalized customer engagements and improved business intelligence and performance for its clients.
Concentrix Mergers and Acquisitions (M&A) Activities
In January 2020, SYNNEX and Concentrix separated into two industry-leading, publicly traded companies. This key decision was made possible as a result of Concentrix’ global scale and speed in which Convergys and Concentrix were integrated. Also, due to the strong and independent leadership teams and financial capabilities of both companies. The separation will allow both SYNNEX and Concentrix to turn their full attention to the markets they serve, drive higher returns, and address the rapidly changing market dynamics in the nimblest way.
In October 2018, Concentrix confirmed the previously launched acquisition of Convergys has officially closed, and the integration with Concentrix has begun. This transaction accelerates Concentrixs leadership position in the industry and creates a premier global customer engagement services company providing next-generation customer experience and business improvements to market-leading brands.
Concentrix reinforces its profile in the delivery of high-value services to a strong, diverse, client portfolio that includes high growth market-disruptor companies, and a strong representation of Fortune 1000 clients. The acquisition brings together a skilled global talent pool, both credentialed in operational excellence and highly experienced in strategic verticals and digital transformation services. The geographic reach combined will be one of the most robust global steps in the industry.
Concentrix Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Concentrix applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Concentrix and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Concentrix GIAS, ConcentrixCX, Concentrix Factorin, Concentrix TradeFree, Concentrix’ Solv customers.
Ownership: - NYSE: SNX
Number of Employees: 270000
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Consumer Packaged Goods, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Professional Services, Retail, Transportation, Utilites,
Concentrix Key Enterprise and Cloud Applications
Concentrix GIAS, ConcentrixCX, Concentrix Factorin, Concentrix TradeFree, Concentrix’ Solv
Concentrix Revenues, $M:
|Type/Year||2019||2020||YoY Growth, %|
|Total Revenues, $M||Subscribe||Subscribe||Subscribe|
|Enterprise Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
|Cloud Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* Enterprise Applications Revenues = License + Support & Maintenance + SaaS
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Concentrix Revenue Breakdown By Type, $M:
|Type||License||Prof. Services||Hardware||Support & Maintenance||SaaS||PaaS||IaaS||Other (Non Enterprise Application Revenues)||Total|
|% of Total Revenues||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||Subscribe||100%|
Concentrix Enterprise Applications Revenues By Functional Markets, $M:
Concentrix Enterprise Applications Revenues By Verticals, $M:
Concentrix Revenues By Region, $M
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Concentrix Direct vs Indirect sales
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Concentrix Customers - Breakdown by Geo, Size, Vertical and Product
No. of Concentrix Customers: 650
No. of Concentrix Enterprise Applications Customers: 650
No. of Concentrix Cloud Customers: x
No. of Concentrix Cloud Subscribers: x
The Concentrix serves over 650 clients in eight industry verticals: automotive; banking, financial services and insurance; energy and public-sector; healthcare; media and communications; retail and e-commerce; technology and consumer electronics; and travel and transportation. They focus on developing long-term, strategic relationships with large companies in these customer-intensive industry verticals to benefit from the complexity of services required, the anticipated growth of their market segments and their increasing need for more cost-effective customer experience services.
Concentrix Market Opportunities, M&A and Geo Expansions
Concentrix expands digital services with the acquisition of Tigerspike. This transaction is intended to enhance Concentrixs digital competencies and drive further differentiation and growth in the market place through Tigerspike's digital domain expertise.
This acquisition is intended to increase Tigerspike's speed to market of these solutions and provide them with new opportunities for expansion. Tigerspike's approach of blending technology, human expertise, and the use of data and digital to enhance value to clients through analytics and business success metrics, is both needed and extremely exciting to clients.
Concentrix Risks and Challenges
A government report disclosed that of 36,000 appeals against Concentrix, 87% were upheld. In September 2016 the HMRC published that it would not renew the contract, due to expire in 2017, although the Treasury has resisted calls for a full inquiry thus far. As a result of Concentrix' failings, thousands of claimants are also due to receive back-payments for incorrectly stopped claims.
By 2016, however, Concentrix was receiving heavy criticism from the cross-party parliamentary committee on welfare for incorrectly closing the claims of thousands of claimants, leaving them without money for essentials.
In 2014, Concentrix won a £75 million contract from the UK's tax authority, the HMRC, to review two million tax credits claims for fraud and incorrect tax credit awards. Tax credits are a form of UK social welfare benefit paid out to parents and workers on low incomes.
Concentrix Ecosystem, Partners, Resellers and SI
Concentrix has significant operations in North and South America, Asia-Pacific, Europe and Africa. Concentrix partners with its clients to deliver end-to-end customer engagement services, technology innovations, analytics, process optimization, and business improvements.
Concentrix Cloud Infrastructure Insights
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- Concentrix Public Cloud and Infrastructure (IaaS)
- Concentrix Platform (PaaS)
- Concentrix Application Delivery
- Concentrix Private Cloud and Data Centers
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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