Genesys PureCloud in hypergrowth with 130% jump in revenue

Genesys® (www.genesys.com), the global leader in omnichannel customer experience and contact center solutions, announced this week 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 enterprises¹.
 
While sales are up across the company’s cloud offering, the Genesys PureCloud^â platform stands out for its hypergrowth, with sales more than tripling since 2016.
 
PureCloud’s rapid expansion and impressive sales momentum 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 have benefited from over 300 new enhancements delivered in the last two years alone.  
 
Genesys strengthens customer portfolio with cloud wins
In 2018, the company’s global cloud deals valued at US$1M 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 legacy, on-premises systems from vendors including Avaya and Cisco to a modern customer experience platform by Genesys.
 
Westpac New Zealand benefits from reduced infrastructure costs and call transfers
One such customer is Westpac New Zealand, one of the nation’s largest banks, who reduced infrastructure costs and increased outbound customer care calls by 100 percent. Westpac realised a rapid time-to-value ratio, and its first customer care agents were up and running just three months after a decision to deploy Genesys PureCloud.
 
Westpac New Zealand’s Head of Contact Centres Jason Lock said,“We wanted to zig while the world was zagging, and the truth is not many banks are using true cloud hosted telephony platforms.” After switching to the Genesys PureCloud platform, Westpac New Zealand has dramatically improved customer experience and net promoter scores.
 
Strength in numbers
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. Genesys partners have been instrumental in driving this momentum accounting for 86% of new signings, as channel sales grew by more than 250% over last year.
 
Leading global brands leverage Genesys to achieve businesses outcomes
Paul Segre, chief executive officer at Genesys said: “With hundreds of migrations from on-premises to the cloud, companies are choosing Genesys because of our track record of delivering value and continuous innovation..
 
“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.”
 
Householdnames that have recently moved to Genesys offerings are realising tremendous returns, such as:

• Coca-Cola Business Services 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.

Segre further explained, “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 a 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 behavior, technology advancements or industry shifts.

Find out more about Coca-Cola Business Services North America’s journey to the cloud with Genesys.
 
¹ Genesys defines mid-market as companies with under 3,000 employees; small-and-medium sized enterprises as companies with 3,000-10,000 employees; and large enterprises as companies with 10,000 employees or more.
 
²Source: Based on publicly available financials from SEC filings (with exception of PureCloud)

1. Twilio: Total revenue from FYE Dec 2013 to FYE Dec 2015
2. Netsuite: Total revenue from FYE Dec 2004 to FYE Dec 2006
3. ServiceNow: Subscription revenue from FYE Jun 2009 to FYE Jun 2011
4. Zendesk: Total revenue from FYE Dec 2011 to FYE Dec 2013
5. Workday: Total revenue from FYE Dec 2009 to FYE Jan 2012 (37 months)
6. PureCloud: PureCloud revenue from FYE Dec 2017 to FYE Dec 2019 (budgeted)