Five9 Strengths, Domain Expertise, and Key Differentiators
Five9 specializes in cloud-based call center applications for Sales, Marketing, and Support functions, helping providers such as telemarketers and outsourcers process more than three billion interactions annually. One of its key attributes lies in a unified product portfolio that covers inbound, outbound, and blended call-center environments. Pre-packaged integration with other CRM applications such as Salesforce.com, Oracle, and others has helped extend its reach by providing users with a single view of issues arising from their interactions with customers.
In any given year, Five9’s installed base generates more than three billion interactions with customers. Its customers represent enterprises across industry sectors—financial services, insurance, healthcare, consumer, and government. Its recent release includes new native multichannel applications that support social, mobile, chat, and email interactions. The new multichannel capabilities are powered by Five9 Connect, an intelligent technology layer that helps contact centers evaluate, prioritize, and route requests.
Five9 Connect also provides more mobility for supervisors and enables customized monitoring and reporting.
Five9 Recent Developments
In June 2021, Five9 appointed Chief Information Security Officer Hardik Parekh, an industry-recognized executive with a track record of developing and maturing world-class security programs in enterprise companies including Intuit, Amazon, and Splunk.
In June 2020 Five9 released Five9 Virtual Assistant, an Intelligent Virtual Assistant (IVA), powered by Inference, that leverages conversational AI to automate manual tasks and answer common questions in the contact center. Five9 Virtual Assistant delivers engaging conversational experiences for organizations that need both greater efficiency and a more personal, human element in their approach to customer care. In recent weeks, various organizations, from small businesses to Fortune 500 companies, have been experiencing an increase in call volumes in both inbound and outbound communication. Five9 Virtual Assistant can help alleviate this problem by enabling an AI-driven voice assistant to provide a natural conversational response to customer inquiries, such as scheduling appointments, social distancing policy, and updating mailing addresses, quickly and efficiently resolving common issues in an empathetic manner.
Five9 Virtual Assistant is the latest announcement in Five9’s AI-powered solution suite. AI, like previous generations of technology, is helping businesses accomplish their business objectives. In the contact center, that’s delivering a human experience while controlling costs. To that end, today Five9 is using AI across customer touchpoints to deliver virtual customer assistance, agent assistance, and partnering with third parties for chatbot solutions.
Five9 Appoints Industry Veteran Rowan Trollope as New CEO. Mike Burkland, who transitioned from CEO to Executive Chairman last December due to health reasons will continue as Executive Chairman.
Barry Zwarenstein, Five9’s CFO, who served as Interim CEO during the transition, will continue as Chief Financial Officer. Dan Burkland will remain President overseeing Five9 customer-facing functions which include Sales, Marketing, and Services."
Five9 Mergers and acquisitions (M&A) Activities
Over the past few years, Five9 has made three acquisitions. Most recently, in November 2020, Five9 acquired Inference Solutions (now Five9 IVA), the most widely deployed Intelligent Virtual Agent (IVA) platform. As a result of the global pandemic, customers are engaging with brands through contact centers more than ever. Typically, customers who call into a contact center must first get through frustrating touch-tone menu trees, or deal with inefficient and limited speech recognition, leaving them frustrated by the time they talk to a live agent. Consequently, to deliver a better self-service experience and relieve stress on agents, companies are increasingly looking to Intelligent Virtual Agents.
In February 2020, Five9 announced it’s acquisition of Virtual Observer (now Five9 WFO) – a provider of Worforce Optimization solutions including Workforce Management (WFM), Quality Management and Interaction Analytics.
In November 2019 Five9 acquired Wendu, a small startup based out of the San Francisco Bay Area. It offered a tool that makes it easier to integrate an organization’s contact center systems with other internal infrastructure such as analytics tools. Enabling a collection of disjointed back-office applications to exchange data with one another could historically only be achieved by coding custom integrations. Whendu’s tool (now Five9 Workflow Automation) enables users to create integrations with considerably less effort in a point-and-click interface. Five9 Workflow Automation offers more than 50 pre-packaged connectors for cloud services such as Gmail, popular databases, and other applications.
Five9 Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Five9 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 Five9 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 Five9 Cloud, customers.
Ownership: - FIVN: Nasdaq
Number of Employees: 2138
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K66, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith-Based Nonprofit, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
Five9 Key Cloud and HCM Applications
Five9 HCM and Cloud HCM Applications Revenues, $M:
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|Cloud HCM Applications Revenues, $M||Subscribe||Subscribe||Subscribe|
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** 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.
Five9 Revenue Breakdown by Type:
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Five9 HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2021 HCM Revenues, By Sub-Functional Markets, $M
Five9 HCM Applications Revenues By Verticals, $M:
Five9 Total and HCM Applications Revenues by Region:
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Five9 Direct vs Indirect sales
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Five9 Customers - Breakdown by Geo, Size, Vertical and Product
No. of Five9 Customers: 2164
No. of Five9 HCM Applications Customers: 2000
No. of Five9 Cloud HCM Customers: x
No. of Five9 Cloud HCM Subscribers: 3 million
Five9 has more than 2,000 customers with subscriptions ranging in size from fewer than 10 agent seats to approximately 1,000 agent seats facilitating approximately 3 billion customer interactions annually.
Its customers include Citrix, One on One Marketing, TMone, DirectBuy, NexRep, Medical Alert, OnBrand24, NJ 2-1-1, USCB America, Weed Man Roswell, Siemens, firstStreet, Phone.com, American Support, Gateway One, Open English, Olympus, Citrix, Netsuite, Greenwood Hall, Invenio Solutions, Senior Health Solutions, Turnstyles Ticketing, Englishtown, Fast Fix 123, NexRep, Medical Alert, The Shipyard, Innovative Vision, OnBrand24, NJ 2-1-1, Sentinel, RJR Technology, USCB America, Straight Forward and others.
Five9 Market Opportunities, M&A and Geo Expansions
In August 2021, Five9 joined the Gartner Peer Insights Customer First Program for Contact Center as a Service. Gartner defines ‘Contact Center as a Service’ as “a SaaS-based application that enables customer service organizations to manage multichannel customer interactions holistically (using self- and assisted-service) from both customer experience and an employee experience perspective. CCaaS solutions are large systems of differentiation, enabling an adaptive, flexible delivery model with both native capabilities across the four pillars of great customer service, as well as productized integrations to partner solutions, through application marketplaces. Contact Center-as-a-Service providers enable platform standardization across the customer service organization.
In May 2019, Five9 reports a quarter revenue growth of 27% to a record $74.5 Million.
In July 2018 Five9 has partnered with Fuze, a cloud communications platform provider for the modern global enterprise. This partnership includes integration into the Fuze Unified Communications as a Service (UCaaS) and Five9 Contact Center as a Service (CCaaS) providing an end-to-end communication experience for sales and support teams. Five9 and Fuze deliver cloud solutions to meet the variety of business needs, based on the size and nature of each enterprise. Together, Five9 and Fuze provide the right solution for a variety of customer needs.
Recognized as leaders in the CCaaS and UCaaS markets, the collaboration is designed to give joint customers the best of both worlds. Joint customers benefit in a number of ways. Five9 banks on the replacement cycle of legacy contact center applications still commonly deployed among a large swath of users in different verticals. These users are now eager to become more competitive by adopting Cloud applications that compress implementation time while boosting the agility and productivity of call agents when they respond to customer requests coming from all channels."
Five9 Risks and Challenges
By focusing on the contact center agent system segment of the CRM market, Five9 is counting on a steady stream of replacement activities among telcos, financial institutions, retailers, and other companies.
Incumbents of such legacy computer telephony systems such as Avaya, Cisco, Genesys, and others are expected to become vigilant in their customer retention efforts through Cloud migration, potentially derailing Five9’s growth strategy. A more pressing concern is whether the trend toward customer self-service may also diminish the growth potential of inbound call-center automation opportunities.
In the end, Five9 may have no choice but to parlay its successes on the customer service and support to adjacent CRM segments such as sales and marketing automation, all of which will become more integrated than ever preferably from fewer vendors.
Five9 Ecosystem, Partners, Resellers and SI
"Five9 cultivated a robust ecosystem of partners including a variety of leading CRM software vendors such as Salesforce, Oracle, Microsoft, Zendesk, and NetSuite; system integrators such as Bluewolf, Deloitte Consulting LLP, and PwC LLP; analytics, workforce management, and performance management software vendors such as NICE Systems, Inc., and Authority Software; telephony providers such as AT&T Inc., Verizon Communications Inc., and Level3; and cloud private branch exchange phone systems, vendors. Altura Communication Solutions, a nationwide provider of communication-enabled solutions and managed services today partnered with Five9.
With extensive experience delivering successful complex call center solutions, Altura partners with best-of-breed technology vendors to offer to their customers a full range of solutions.
Five9 primarily sells direct and it partners with vendors such as Salesforce.com, NetSuite, Microsoft, Oracle, Birst, KomBea, LiveHelpNow, Plantronics, Contact Center Compliance, Velocify, NICE Systems, Bluewolf, and Snap Recordings."
Five9 Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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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