TTEC Holdings Profile
TTEC Holdings, Inc. (TTEC) is a leading global customer experience (CX) as a service (CXaaS) partner for many of the world’s most iconic companies, disruptive hypergrowth brands, and large public sector agencies.
TTEC designs, builds, orchestrates, and delivers seamless digitally enabled customer experiences that increase brand value, customer loyalty, revenue, and profitability through personalized, outcome-based interactions.
Segments
The company operates through two segments, TTEC Digital and TTEC Engage.
TTEC Digital
TTEC Digital is one of the largest pure-play CX technology service providers with expertise in CX strategy, digitization, analytics, process optimization, system integration, cloud-based technology solutions, and transformation enabled by the company’s proprietary CX applications and technology partnerships. TTEC Digital designs, builds, and operates robust digital experiences for clients and their customers through the contextual integration and orchestration of customer relationship management (CRM), data, analytics, CXaaS technology, and intelligent automation to ensure high-quality, scalable CX outcomes.
Technology Services: The company’s technology services design, build, and operate highly scalable, digital omnichannel technology solutions in the cloud, on premise, or hybrid environment, including journey orchestration, automation and AI, knowledge management, and workforce productivity, among others.
Professional Services: The company’s management consulting practices deliver customer experience strategy, analytics, process optimization, and systems integration, among others.
TTEC Engage
TTEC Engage provides the digitally enabled CX managed services to support the company’s clients’ end-to-end customer interaction delivery at scale. The segment delivers omnichannel customer care, technology support, order fulfillment, customer acquisition, growth, and retention services with industry specialization and distinctive CX capabilities for hypergrowth brands. TTEC Engage also delivers digitally enabled back office and industry specific specialty services, including artificial intelligence (AI) operations, and fraud management services.
Customer Acquisition, Growth, and Retention Services: The company’s customer growth and acquisition services optimize the buying journeys for acquiring new customers by leveraging technology and analytics to deliver personal experiences that increase the quantity and quality of leads and customers.
Customer Care, Technology Support, and Order Fulfillment Services: The company’s customer care, technology support, and order fulfillment services provide turnkey contact center solutions, including digital omnichannel technologies, associate recruiting and training, facilities, and operational expertise to create exceptional customer experiences across all touchpoints.
Digitally Enabled Back Office and Specialty Services: The company’s digital AI operations and fraud detection and prevention services provide clients with data tagging and annotation capabilities to train and enable AI platforms, community content moderation, and compliance to meet client content standards, and proactive fraud solutions to assist its clients in the detection and prevention of fraud.
Based on the company’s clients’ preferences, it provides its services on an integrated cross-business segment and/or on a discrete basis. In April 2022, the company acquired certain public sector assets of Faneuil, Inc.
TTEC Digital and TTEC Engage strategically come together under the company’s unified offering, Humanify CXaaS, which drives measurable customer results for clients through the delivery of personalized and seamless omnichannel experiences. The company’s Humanify cloud platform provides a fully integrated ecosystem of CX offerings, including messaging, AI, machine learning, robotic process automation, analytics, cybersecurity, CRM, knowledge management, journey orchestration, and traditional voice solutions.
During 2022, the TTEC global operating platform delivered onshore, nearshore and offshore services in 21 countries on six continents -- the United States, Australia, Belgium, Brazil, Bulgaria, Canada, Colombia, Costa Rica, Germany, Greece, India, Ireland, Mexico, the Netherlands, New Zealand, the Philippines, Poland, Singapore, South Africa, Thailand, and the United Kingdom – with the help of 69,400 consultants, technologists, and CX professionals.
The company has extensive expertise in the healthcare, automotive, national/federal and state and local government, financial services, communications, technology, travel and logistics, media and entertainment, e-tail/retail, and transportation industries. The company serve more than 775 diverse clients globally, including many of the world’s iconic brands, Fortune 1000 companies, public sector agencies, and disruptive hypergrowth companies.
Strategy
The key elements of the company’s strategy are to build deeper, more strategic relationships with existing global clients to drive enduring, transformational change within their organizations; pursue new clients who lead their respective industries and who are committed to value driven customer engagement as a differentiator; invest in its global sales and marketing leadership team at both the segment level to improve collaboration and speed-to-market, and consultative sales level to deliver more integrated, strategic, and transformational solutions; expand into new geographic markets that give it access to new customers, partners, and delivery center capabilities; execute strategic acquisitions that further complement and expand its integrated solutions; invest in technology-enabled platforms and innovation through technology advancements, broader and globally protected intellectual property, and process optimization; and work within its technology partner ecosystem to deliver best-in-class solutions with expanding intellectual property through value-add applications, integrations, services, and solutions.
The company’s strategy in maintaining market leadership is to invest, innovate, and provide integrated value-driven services, all centered around customer engagement management. The company is executing on a more expansive, holistic strategy by transforming its business into higher-value offerings through organic investments and strategic acquisitions.
Clients
The company develops long-term relationships with clients globally, including many of the worlds’ iconic brands, Fortune 1000 companies, public sector agencies, and hypergrowth companies.
Intellectual Property
As of December 31, 2022, the company had 11 patent applications pending; and also held 96 U.S. and non-U.S. patents in 9 jurisdictions that it leverages in its operations and as marketplace differentiation for its service offerings. The company’s trade name, logos, and names of its proprietary solution offerings are protected by their historic use and, in addition, by trademarks and service marks registered in 32 jurisdictions.
Competition
In the company’s TTEC Digital segment, it primarily competes with smaller pure-play technology and service providers and divisions of multinational companies, including Five9, InContact, Twilio, EPAM, Endava, Globant, Accenture Plc, Cognizant Technology Solutions Corp., and Infosys, among others.
In the company’s TTEC Engage segment, it primarily competes with in-house customer management operations, as well as other companies that provide customer care services, including Teleperformance, Telus International, Concentrix, TaskUs, Intouch CX, Webhelp, Accenture Plc, Genpact, and Exl, among others.
Regulations
The company is subject to data protection and privacy regulations in many of the countries where it operates, including the European General Data Protection Regulation (GDPR), the California Consumer Protection Act (CCPA) and other similar the U.S. state-level data protection legislation, and the Philippine Data Privacy Act (Republic Act No. 10173). Certain of the company’s systems, that support clients with special regulatory requirements, also require compliance with Health Information Trust Alliance (HITRUST) requirements and Health Insurance Portability and Accountability Act (HIPAA) regulations for clients in the healthcare industry; the Payment Card Industry Data Security Standard (PCI-DSS) for financial services clients and other clients where it has access to their customers’ payment card information; Federal Information Security Management Act GSA (FISMA) and Federal Risk and Authorization Management Program (FedRamp) requirements for the U.S. federal government clients; and other similar requirements.
TTEC is a labor-intensive business that is subject to complex labor and employment laws established by the U.S. Department of Labor, state and local regulatory bodies, and similar regulators in jurisdictions outside of the U.S.
The company’s global operations are subject to various domestic and foreign anti-corruption mandates, such as the U.S. Foreign Corrupt Practices Act, the U.K. Bribery Act, and similar anti-bribery laws in other jurisdictions where it does business.
History
The company was founded in 1982. It was incorporated in 1994. The company was formerly known as TeleTech Holdings, Inc. and changed its name to TTEC Holdings, Inc. in 2018.
