SANTA CLARA, California, Jan. 30, 2019 -- Based on its recent analysis of the North American hosted/cloud contact center market, Frost & Sullivan recognizes Genesys with the 2018 North American Market Leadership Award. With cloud market share of 10.7 percent in 2017, and one of the broadest solution portfolios in the industry, Genesys is leading the market. The company continues to strengthen its position by identifying emerging areas of customer contact and developing innovative solutions to help businesses address those needs. For instance, it was one of the early movers to add cloud functionality to its product set and maturing technologies such as artificial intelligence and machine learning to complement its contact center systems offerings.
Genesys orchestrates over 25 billion contact center interactions per year in the cloud and on-premises for its 11,000 customers in 120 countries. It generated $1.4 billion in revenue in 2017, and has attracted a large ecoystem of 1,200 partners worldwide. Keys to its success include continual infusion of capital into research and development to fuel innovation, along with a series of strategic acquisitions to quickly add capabilities to its portfolio. One of its most significant acquisitions, for example, was Interactive Intelligence, a key competitor and a market leader in its own right. This acquisition broadened its technology and cloud offerings to cover the entire market.
"The multi-pronged approach to growth that Genesys takes has helped it streamline the way products are acquired, implemented, and used. For instance, in 2016, it announced that Hellman & Friedman LLC, a leading private equity investment firm, acquired a substantial minority equity stake in the company. This partnership positioned Genesys as one of the most valuable private software companies in the world," said Nancy Jamison, Principal Analyst at Frost & Sullivan. "In addition to its robust M&A strategy, the company has gradually built a vast and advanced portfolio that caters to customers' changing needs. It has also simplified its go-to-market and implementation strategy to drive adoption and invested in emerging technology areas to adapt to a dynamic marketplace."
The company now has three diverse offerings in its customer experience (CX) platform: PureCloud, an all-in-one cloud contact center and employee collaboration solution; PureConnect, an all-in-one multichannel customer engagement solution for both premises and (private) cloud deployments; and PureEngage, an omnichannel customer engagement suite. Its feature-rich solutions are backed by exceptional levels of support and attractive business models. For existing premise customers, the availability of subscription-based pricing as an alternative to perpetual licenses underscores the company's understanding of its customers' business needs. This pricing model provides numerous benefits to clients, including the ability to flex in capacity rather than overpay for peaks and valleys of usage.
"The company has demonstrated visionary innovation in incorporating Artificial Intelligence (AI) across every area of its portfolio to assist with customer service, sales, and marketing," noted Ms. Jamison. "The frequent product innovations Genesys delivers are often ahead of the curve, but introduced in a way that allow customer adoption at a pace they are comfortable with. Overall, its advanced, rapidly deployable, and risk-free solutions, along with novel pricing models and maintenance, have positioned it for further growth in a highly competitive market."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. Attaining loyal customers who became brand advocates allows the company to grow and achieve a market leadership position. By committing to the customer at each stage of the buying cycle and continuing to nurture the relationship, this award recognizes a company's increased market share over time.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
Genesys® powers more than 25 billion of the world's best customer experiences each year. Our success comes from connecting employee and customer conversations on any channel. Every day, 11,000 companies in more than 100 countries trust our #1 customer experience platform to drive great business outcomes and create lasting relationships. Combining the best of technology and human ingenuity, we build solutions that mirror natural communication and work the way you think. Our industry-leading solutions foster true omnichannel engagement because they perform equally well across channels, on-premises and in the cloud. Experience communication as it should be: fluid, instinctive and profoundly empowering. Visit genesys.com on Twitter, Facebook, YouTube, LinkedIn and the Genesys blog.
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