Genesys Cloud Business Achieves Solid Growth in First Half of Fiscal 2022

Genesys Cloud subscriptions grow more than 100% year-over-year as more companies embrace Experience as a ServiceSM

Beijing, September 1, 2021 - Recently, Genesys®, the global leader in cloud customer experience, announced its dazzling performance in the first half of fiscal year 2022 (February 1, 2021 to July 31, 2021). This is another fruitful result after the company achieved record performance in fiscal year 2021. Now halfway through fiscal year 2022, Genesys Cloud CX™ subscriptions have increased by more than 100% year-on-year compared with the previous fiscal year, and Genesys Multicloud CX™ subscriptions have also increased by more than 100% year-on-year.

Just two years after taking over as CEO Tony Bates, Genesys has largely completed its business model transformation. Driven by Genesys Cloud CX and Genesys Multicloud CX solutions, the proportion of new cloud business subscriptions in new subscriptions for all businesses has increased from nearly 75% in fiscal 2021 and 53% in 2019 (calendar year) to more than 90%.

In today's experience economy, consumers have higher expectations for the kind of relationships they want to have with companies that are closely related to their daily lives. Consumers seek services more online and are eager to be listened to and understood, which has formed new rules of interaction. However, traditional customer contact centers focus more on transaction efficiency and lack empathy. Forrester's "US Customer Experience Index" released in June 2021 found that nearly 80% of consumers rated the brand experience as "unsatisfactory." All companies are beginning to re-examine customer relationships to provide empathetic experiences to win customer loyalty. 

“Experience as a Service is the next step in the evolution of customer interactions. Companies are looking to Genesys as a leader in executing this vision, delivering empathy at scale through innovations in artificial intelligence and customer journey orchestration,” said Tony Bates, CEO and chairman of Genesys. “Genesys is the logical choice for companies that need to meet today’s digital demands and deliver exceptional customer experiences across all customer touchpoints.”

More and more businesses around the world are adopting Genesys solutions to deliver coordinated customer experiences at transactional consumer touchpoints. In the first half of fiscal 2022, driven by Genesys Cloud CX and Genesys Multicloud CX, transactions with annual recurring revenue of more than $2.5 million increased 125% compared to the same period in fiscal 2021. These include an iconic U.S. fashion retailer, a popular vacation rental company, a global auto loan finance company and a national healthcare company. As a result, 18,000 seats were added to Genesys Cloud CX, bringing the total number of platform seats to more than 400,000.

In addition, based on its strong cloud solution portfolio, Genesys continued to replace traditional suppliers with its leading position during this period, with an average of more than 3 customers transferred from Avaya and Cisco every day. Among them, Genesys has reached an 8-figure annual deal with a Fortune 100 telecommunications company, with more than 20,000 seats using Genesys Multicloud CX.

Genesys continued its momentum in innovative solutions and ecosystem in the first half of fiscal 2022, including the following achievements:

● Introduced advances in artificial intelligence with new capabilities in Genesys Cloud CX, including Genesys Predictive Routing, Genesys Web Messaging and Intent Miner for Bots. These new capabilities enable businesses to place greater emphasis on the customer experience, delivering seamless and personalized experiences on consumers’ preferred channels.

● Launched Genesys DX™ solution, with innovative capabilities to help companies go beyond transaction-oriented conversations to deliver intuitive digital experiences, understand customer needs and predict customer intent. Genesys DX leverages Genesys customer experience expertise and Genesys AI and Predictive Interaction Management, and strengthens the conversational AI and dynamic knowledge base capabilities of the acquisition of Bold360.

● Introducing Genesys Choice. A flexible consumption model that provides access to all voice, AI, workforce engagement/optimization and digital capabilities – all for a one-time annual subscription. The offering enables businesses to use any Genesys capabilities as needed, without having to change contracts. This includes quickly scaling up or down Genesys Cloud CX or Genesys Multicloud CX to meet business needs.

● Launched Genesys Multicloud CX™ on Azure – the first cloud contact center service on Microsoft Azure cloud platform. With this omnichannel service, businesses have the security and scalability they need to connect every customer touchpoint and enable rapid innovation with all the capabilities required by large enterprises. Genesys also delivered its first private cloud solution, Genesys Multicloud CX™, which businesses can deploy on their own or through partners and run on any cloud platform.

● Launched the Messenger API for Instagram, enabling businesses to engage with consumers through private messaging on Instagram for more personalized interactions.

● Partner with Qualtrics to combine Genesys interaction data and Qualtrics experience data, allowing companies to understand every factor that affects customer satisfaction through a single view.

● Partnered with Limitless to expand contact center teams with a team of brand experts to create more authentic, human connections between companies and consumers.

The number of partners and cloud solutions on the Genesys application marketplace AppFoundry® increased by 24% and 22%, respectively. Many cloud solutions in AppFoundry are pre-integrated with Genesys Cloud CX and can be deployed and used immediately, giving businesses more options to customize and deliver exceptional customer experiences based on their needs.

Genesys' business momentum and cloud leadership have been recognized by industry analysts over the past year, most notably being named a Leader in Gartner's 2021 Magic Quadrant for Contact Center as a Service and a Visionary in Gartner's 2021 Magic Quadrant for Workforce Interaction Management. Most recently, Genesys was ranked No. 1 in the 2020 Global Contact Center Application Software Market Share by IDC. In addition, Genesys was named a Leader in Frost Radar™: North American Enterprise Cloud Contact Center Market 2021 by Frost & Sullivan and a Leader in Conversational Intelligence by Opus Research.

About Genesys  

Every year, Genesys® creates more than 70 billion extraordinary customer experiences for organizations in more than 100 countries. Using cloud and AI, Genesys helps marketing, sales and service connect with customers across all channels while delivering a better employee experience. Genesys pioneered Experience as a ServiceSM, helping organizations of all sizes deliver true personalization, connect with empathy, and build customer trust and loyalty. Experience as a ServiceSM is powered by Genesys CloudTM, the world's leading all-in-one solution and public cloud contact center platform, designed for rapid innovation, scalability and flexibility. Visit www.genesys.com/en-us. 

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