Genesys Announces Record-Setting Cloud Business Growth
– New bookings growth up nearly 130 percent for Genesys Cloud and more than 70 percent for Genesys Engage Cloud and Subscription year over year; company adds 800+ new customers during fiscal year 2021
SAN FRANCISCO, March 2, 2021 /PRNewswire/ — Genesys®, a global leader in cloud customer experience and contact center solutions, reported fiscal year 2021(1) was a record-setting period for its cloud business. New bookings increased nearly 130 percent for Genesys Cloud™ and more than 70 percent for Genesys Engage™ cloud and subscription year over year. The company also announced Chief Executive Officer (CEO) Tony Bates has been appointed chair of the Genesys operating committee, which has corporate oversight responsibility equivalent to a board of directors.
In his first full year as CEO, Bates led Genesys through a period of significant transformation, growing the company's new cloud and subscription bookings in fiscal year 2021 to nearly 75 percent of total new bookings from 53 percent in 2019. This was driven by new and expanded customer deals, as well as cloud bookings growth in all regions, with a nearly 40 percent increase in North America, 35 percent in Europe and the Middle East, and nearly 25 percent in Asia Pacific.
"Businesses all over the world are choosing Genesys because we have the right technology, innovation strategy, team and ecosystem to help them address consumers' preferences for differentiated and delightful customer experiences and the changing nature of work," said Bates. "It's a privilege to lead the company as we redefine the market by enabling fluid, digital experiences that connect a customer's entire journey with a business."
Today, Genesys offers one of the industry's broadest portfolios of cloud customer experience solutions to fit the requirements and scale of diverse global enterprise contact centers anywhere. With more than a 320 percent year over year increase in enterprise bookings, Genesys Cloud is experiencing accelerated demand from larger customers. In fact, nearly 60 percent of total Genesys Cloud bookings in fiscal year 2021 were from enterprises, with a 10x increase in the number of deals with annual recurring revenue (ARR) of $2.5 million or more. In addition, last year the company launched Genesys Engage Multicloud, the industry's first native architecture to give complex global enterprises the ultimate flexibility in cloud infrastructure, deployment and management models so they can design unique service experiences for their customers in today's digital world.
For many consumers, customer service departments have become a lifeline, helping them to manage uncertainty brought on by the pandemic about their finances, health, travel and more. As the world shifted rapidly toward digital offerings last year, more than 800 new customers turned to Genesys during fiscal year 2021 for its cloud and multicloud solutions to provide consumers with mission-critical support and to transition employees to remote work. This helped drive the company's most successful period in its history, with sales growth and leading market share(2). Genesys also was recognized for its cloud leadership from industry analyst firms Gartner(3), Forrester(4), Frost & Sullivan(5) and Omdia(6).
The close of a record year resulted in Genesys increasing its footprint in key industries including financial services, government, education, healthcare, telecommunications and retail. Notably, the company closed an eight-figure deal for Genesys Engage Multicloud with a Fortune 500 financial holding company. Overall, the company experienced significant momentum in large enterprise cloud and subscription bookings with 45 new deals of over $1 million in ARR in fiscal year 2021, including a global hardware and software company; one of the largest investment management companies; a private regional healthcare system in the United States; a S&P 500 Index telecommunications provider; and a global workplace and digital solutions company with a presence in more than 150 countries.
As a result of the flexibility and scale of its cloud solutions, the company increased its traction over legacy vendors, driving three displacements per day from Avaya and Cisco alone. Other milestones the company achieved include:
New and expanded strategic alliances with cloud leaders including Adobe, Microsoft, Amazon Web Services, Google Cloud and Zoom;
The company also launched Genesys Digital and AI, a new business unit charged with delivering digital-based innovations driven by artificial intelligence (AI), that can be deployed independently or consumed alongside the company's other products;
More than 100 percent year over year growth to more than 300,000 users on Genesys Cloud;
Genesys delivered more than 250 cloud-based innovations to customers adding capabilities in AI, digital, WEM and more;
Strong channel ecosystem and global reach with more than 50 percent of new bookings driven by partners; and
Nearly 50 percent of total Genesys new bookings were outside of North America, demonstrating the company's global strength.
Learn more about Genesys and opportunities to join its growing team.
(1) In May 2020, Genesys transitioned its fiscal year from a calendar year to a fiscal year ending on January 31, 2021. (2) Worldwide Contact Center Applications Software Market Shares, 2019: Before Everything Changed, IDC, July 2020, DOC #US46734020. (3)Gartner Magic Quadrant for Contact Center as a Service, November 2020.
Gartner Disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. (4) The Forrester Wave™: Contact-Center-as-a-Service (CCaaS) Providers, Q3 2020. (5) 2020 Frost Radar Best Practices Award for Innovation Excellence in Workforce Optimization, May 2020. (6) 2020 OMDIA Decision Matrix report, July 2020.
About Genesys Every year, Genesys® delivers more than 70 billion remarkable customer experiences for organizations in over 100 countries. Through the power of the cloud and AI, our technology connects every customer moment across marketing, sales and service on any channel, while also improving employee experiences. Genesys pioneered Experience as a ServiceSM so organizations of any size can provide true personalization at scale, interact with empathy, and foster customer trust and loyalty. This is enabled by Genesys CloudTM, an all-in-one solution and the world's leading public cloud contact center platform, designed for rapid innovation, scalability and flexibility. Visit www.genesys.com.
Genesys empowers more than 7,500 organizations in over 100 countries to improve loyalty and business outcomes by creating the best experiences for customers and employees. Through Genesys Cloud, the #1 AI-powered experience orchestration platform, Genesys delivers the future of CX to organizations of all sizes so they can provide empathetic, personalized experience at scale. As the trusted, all-in-one platform born in the cloud, Genesys Cloud accelerates growth for organizations by enabling them to differentiate with the right customer experience at the right time, while driving stronger workforce engagement, efficiency and operational improvements.