- BY SHEDRACH UBA with agency report•
Genesys® the global leader in omnichannel customer experience and contact center solutions, on Tuesday said that its cloud sales have risen 32% year-over-year. The cloud business growth spans all market segments with 70% gains in the mid-market, 50% in small-and-medium sized enterprises, and 30% in large enterprises.
While sales are up across the company’s cloud offers, the Genesys PureCloud® platform stands out for its hypergrowth with sales more than tripling since 2016. PureCloud’s rapid expansion and impressive sales momentum blows peers away. In fact, PureCloud has accelerated beyond the fastest growing SaaS platforms including Workday, Zendesk, ServiceNow and others2, with a projected annual revenue growth rate of nearly 130% since 2017. In addition, PureCloud’s customers benefit from continuous innovation and the fastest feature velocity in the industry with over 300 new enhancements delivered in the last two years alone.
In 2018, cloud deals valued at $1 million or more increased by 110% over the previous year. Many of these resulted from the Genesys PureBridge program, which has helped nearly 1,200 companies smoothly transition off of legacy systems from vendors including Avaya, Cisco and others to a modern customer experience platform by Genesys.
One such customer is Alberta Treasury Branches (dba ATB Financial), the largest financial institution in Alberta, Canada. “For ATB Financial, the migration to a Genesys cloud solution is part of our customer-centered approach,” said David Bradshaw vice president, ATB Financial Client Care and Sales. “It allows us to connect better with our customers, as well as improve employee communication, workplace planning and cost management.”
An additional example is a major consumer credit reporting agency that selected a Genesys cloud offering to replace an archaic Avaya environment.
In a multi-million dollar deal, its move to Genesys provides the foundation for this company to support all communication channels and rapidly transform its customer experience leveraging artificial intelligence (AI).
In addition, it expects to improve digital self-service capabilities and reduce servicing costs.
For the last two years, Genesys has closed more than three deals per day to replace an antiquated system from a competitor, with more than 700 coming from Avaya alone.
Notably, more than half of all displacements moved to a Genesys cloud solution in 2018. The company’s partners have been instrumental in driving this momentum. In fact, 86% of new logos were booked through a partner as channel sales grew by more than 250% over last year.
“With hundreds of migrations from on-premises to the cloud, companies are flocking to Genesys because of our track record of delivering value and continuous innovation,” said Paul Segre, chief executive officer at Genesys.
“Our customers understand how intertwined digital channels, AI and the cloud have become – and they want to work with a strategic partner that can solve these needs holistically.”
Companies that have moved to Genesys offerings are realizing tremendous return such as:
- Coca-Cola Business Service North America, the world’s leading beverage company, reduced its total cost of ownership by 50%.
- Heineken Mexico improved call effectiveness by over 40%, sales success by 6% and agent efficiency resulting in a 1.5 hour per agent reduction in the workday.
- Westpac New Zealand reduced infrastructure costs, increased outbound customer care calls by 100 percent and realized rapid time-to-value. Its first customer care agents were up and running in just three months.
Segre explained, “First and foremost, we understand that for our customers to excel in their markets, they need faster time-to-value. That means they need to innovate and adopt AI along with other new technologies, deliver better customer experiences, make their employees’ jobs easier, increase sales, and reduce costs. With the cloud, we’re enabling them to meet these goals faster and more cost effectively than ever.”
In the last year, Genesys has made significant strides to facilitate its customers’ success including:
- Faster deployments and migrations: With more than 100 prescriptive use cases, both on-premises and cloud, Genesys has cut customer deployment time in half. Genesys cloud customers with highly complex requirements are now typically live in less than six months.
- Enhanced speed-to-market: The Genesys shift to DevOps and microservices architecture enables customers to adopt innovation faster and achieve business results sooner.
- Investment in innovation: Genesys commits more than $250 million annually in research and development (R&D) so customers can access innovative solutions that address the next wave of change – whether in consumer behaviour, technology advancements or industry shifts.