{"id":395802,"date":"2021-08-31T17:55:50","date_gmt":"2021-09-01T00:55:50","guid":{"rendered":"https:\/\/www.genesys.com\/?post_type=announcements&p=395802"},"modified":"2021-08-31T17:55:20","modified_gmt":"2021-09-01T00:55:20","slug":"genesys-announces-first-half-fiscal-year-2022-cloud-business-growth","status":"publish","type":"announcements","link":"https:\/\/www.genesys.com\/en-sg\/company\/newsroom\/announcements\/genesys-announces-first-half-fiscal-year-2022-cloud-business-growth","title":{"rendered":"Genesys Announces First Half Fiscal Year 2022 Cloud Business Growth"},"content":{"rendered":"

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Genesys Announces First Half Fiscal Year 2022 Cloud Business Growth<\/strong><\/h1>\n

Genesys grows new booking and subscriptions more than 100% year-over-year as companies adopt its Experience as a Service SM<\/sup> Vision<\/em>[\/vc_column_text][\/vc_column][\/vc_row][\/vc_section][vc_section css=”.vc_custom_1572297878492{padding-top: 0px !important;}”][vc_row][vc_column][vc_column_text]<\/p>\n

Genesys<\/a>\u00ae<\/sup>, a global cloud leader in customer experience orchestration, announced results for the company\u2019s first six months of the fiscal year 2022 (February 1, 2021 to July 31, 2021). This significant momentum comes after the company\u2019s record-setting<\/a> fiscal year 2021. Halfway through fiscal year 2022, the Genesys Cloud\u2122 platform achieved more than 100% year-over-year growth in new cloud bookings, compared to the first six months of fiscal 2021. In the same period, the Genesys Multicloud CX\u2122 solution also achieved more than 100% year-over-year growth in cloud and subscription bookings.<\/p>\n

After just two years under the helm of CEO Tony Bates, the company has nearly completed its business model transition with cloud and subscription bookings making up more than 90% of total new bookings, up from nearly 75% in fiscal year 2021 and 53% in calendar year 2019, driven by Genesys Cloud and Genesys Multicloud CX success.<\/p>\n

In today\u2019s experience economy, consumers have high expectations for their relationships with the companies ingrained in their daily lives. Consumers are defining new rules for engagement as they are always-on, looking for what they need\u2014when they need it\u2014and expecting to be heard and understood. Yet, customer contact centres have traditionally been built for transactional efficiency and effectiveness. What has been missing is the critical element of empathy at scale. It\u2019s no surprise that a June 2021 study by Forrester1<\/sup> found that nearly 80% of consumers rated brand experiences as \u201cok\u201d or \u201cpoor.\u201d Companies everywhere are reevaluating how they connect with their customers to provide empathetic experiences to earn customer loyalty.<\/p>\n

\u201cExperience as a Service is the next step in the evolution of customer engagement,\u201d said Tony Bates, CEO and Chairman of Genesys. \u201cBusinesses look to Genesys as the leader in executing this vision and enabling them to deliver empathy at scale through innovations in AI and journey orchestration. For companies that need to meet the needs of today\u2019s digital environment and provide rewarding experiences across all customer touchpoints, Genesys is the natural choice.\u201d<\/p>\n

Organisations around the world are turning to Genesys to transform transactional consumer touchpoints into orchestrated customer experiences. In the first six months of fiscal year 2022, Genesys Cloud and Genesys Multicloud CX drove a combined growth of 125% in the number of deals over $2.5 million annual recurring revenue compared to the first half of fiscal year 2021. Notable Genesys deals include one of the most iconic US fashion retailers, a popular vacation rental company, a global auto loan financer and a national healthcare company that added 18,000 agents to Genesys Cloud, contributing to the more than 400,000 agents that are now on that platform.<\/p>\n

Additionally, based on this powerful cloud solution portfolio, Genesys continued to displace legacy vendors during the period \u2014 more than three per day from Avaya and Cisco alone, including 20,000 agents on Genesys Multicloud CX in an eight-figure annual deal with a Fortune 100 telecom company.<\/p>\n

During the first half of the fiscal year, Genesys continued its momentum on delivering innovative solutions and growing its ecosystem, including the following milestones.<\/p>\n