TTEC Strengths, Domain Expertise, and Key Differentiators
TTEC is a global customer experience company that designs, builds and operates captivating omnichannel customer experiences on behalf of the world’s most innovative brands. The Company provides its outcome-based customer engagement solutions through TTEC Digital which designs and builds customer experience consulting and technology solutions and TTEC Engage which operates customer care, growth and trust and safety services.
Founded in 1982, TTEC partners with business leadership across marketing, sales and customer care to design and deliver a simple, more human customer experience across every interaction channel. The Company’s 49,500 employees operate on six continents across the globe and live by a set of customer-focused values that guide relationships with clients, their customers, and each other.
TTEC Recent Developments
In June 2020, TTEC has significantly strengthened its FedRAMP-authorized cloud contact center solution to include best-in-class WFO, CRM and AI applications.
TTEC's government contact center-as-a-service (CCaaS) solution is already authorized by the Federal Risk and Authorization Management Program (FedRAMP) and is the only Cisco-powered omnichannel platform listed on the FedRAMP Marketplace. The company's expanded security authorization includes capabilities from best-of-breed CX technology partners including:
Verint workforce optimization (WFO) Nuance for voice and conversational IVR Google AI integration capabilities to deliver a frictionless citizen experience CRM integration adaptors that include Microsoft Dynamics, Salesforce and ServiceNOW through a partnership with Bucher + Suter In addition, TTEC announced it has pending IL4 (FedRAMP+) authorization to offer clients an even deeper level of security and data protection.
TTEC Mergers and Acquisitions (M&A) Activities
In August 2020, TTEC has acquired VoiceFoundry, a global partner of Amazon Web Services, creating an end-to-end CX delivery solution for Amazon Connect.
The acquisition not only adds Amazon Connect to TTEC's Humanify CX Marketplace, but it also extends TTEC Digital's Humanify Cloud Integration and API platform to AWS, providing TTEC customers and prospects with cloud contact center optionality and a unified per user per month (PUPM) offering for access to over 50 enhanced CX applications to complement AWS's services.
In February 2020, TTEC has acquired a majority interest in Serendebyte, an intelligent automation CX solutions provider. Serendebyte helps companies transform their customer and employee experiences by improving sales process automation, customer service, marketing automation and operations/compliance for large enterprises. Serendebyte strengthens TTEC's ability to deliver intelligent automation solutions globally. The acquisition also expands TTEC's network of engineers and developers to provide a combination of robotics-powered case management, AI and analytics.
In 2019, TTEC acquired FCR, a U.S.-based digitally-enabled customer experience provider focused on the direct to consumer, e-commerce and hypergrowth markets. FCR is a provider of innovative customer care, social media community management, content moderation, technical support and business process solutions for emerging and digitally native hypergrowth clients. FCR will retain its name and become a stand-alone entity inside TTEC's Engage business.
TTEC Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying TTEC 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 TTEC 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 TTEC Humanify customers.
Ownership: - NASDAQ : TTEC
Number of Employees: 62300
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Consumer Packaged Goods, K395, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
TTEC Key Enterprise and Cloud Applications
TTEC Revenues, $M:
|Type/Year||2020||2021||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.
TTEC 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%|
TTEC Enterprise Applications Revenues By Functional Markets, $M:
TTEC Enterprise Applications Revenues By Verticals, $M:
TTEC Revenues By Region, $M
|Region||% of Total Revenues||2021 Total Revenues, $M||2021 Enterprise Applications Revenues, $M||2021 Cloud Applications Revenues, $M|
TTEC Direct vs Indirect sales
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TTEC Customers - Breakdown by Geo, Size, Vertical and Product
No. of TTEC Customers: 300
No. of TTEC Enterprise Applications Customers: x
No. of TTEC Cloud Customers: x
No. of TTEC Cloud Subscribers: x
TTEC serves more than 300 diverse clients globally, including many iconic blue-chip brands, Fortune 1000 companies, and disruptive growth companies.
TTEC Market Opportunities, M&A and Geo Expansions
Through its Cisco channel partnership, TTEC is expanding its addressable market to Cisco’s millions of on-premises users. These on-premises users are eager to migrate to the cloud, adopt more Intelligent Automation, and accelerate their digital transformation with TTEC Digital.
TTEC Risks and Challenges
TTEC investments in technologies and integrated solution development may not lead to increased revenue and profitability. If TTEC is not successful in creating value from these investments, there could be a negative impact on TTEC's operating results and financial condition.
In 2019, their top five and ten clients represented 37% and 50% of total revenue.
TTEC Ecosystem, Partners, Resellers and SI
Both existing and future technology partnerships — such as Cisco, LivePerson, and Pegasystems — keeps TTEC at the epicenter of a massive market opportunity, facilitating large enterprise migration to cloud-based CX technology.
TTEC Cloud Infrastructure Insights
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- TTEC Public Cloud and Infrastructure (IaaS)
- TTEC Platform (PaaS)
- TTEC Application Delivery
- TTEC 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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