Total Revenue of over $1.9 Billion
Cloud and Multicloud Revenue of over $825 Million, up over 60% Year-over-Year
More than 90% of New Bookings were Recurring in the Fiscal Year
Genesys, a global cloud leader in customer experience orchestration, announced preliminary results for the company’s fiscal year 2022 (February 1, 2021–January 31, 2022).
“This past fiscal year was record-setting for Genesys and evidence that our customers see our experience orchestration and thriving ecosystem as how they can deliver unique experiences at scale,” said Tony Bates, CEO and Chairman of Genesys. “While products and services are important, research shows that more than 80% of consumers see personalized experiences as the key to their brand loyalty and advocacy. That’s why many of the most forward-looking organizations in the world have already turned to us to help them rethink how they build lifelong relationships with their employees and customers.”
Organizations have turned to Genesys to navigate the loyalty-reckoning they’re facing in today’s experience economy. Just one bad experience can lead a customer to a new brand — and cultures in which employees don’t feel valued or set up to thrive are contributing to the “Great Resignation.” The common thread behind this decline in loyalty is a lack of empathy. Too many organizations have yet to focus on people-centric experiences.
As the leader of Experience as a Service SM, Genesys is enabling organizations to transcend business centricity and scale empathy across their organizations to deliver positive experiences to customers, partners and employees — and to drive the trust and loyalty that sets them apart.
Marketing Technology News: MarTech Interview with Laura Taylor, CMO at Crayon
Fiscal Year 2022 Financial and Business Highlights
- Total revenue of greater than $1.9 billion with year-over-year growth more than double the 9% rate in the prior year, as the company completed its transition to a cloud company.
- Cloud and multicloud revenue of greater than $825 million, up more than 60% year-over-year, driven by strong customer adoption of the company’s Genesys Cloud CXTM and Genesys Multicloud CXTM products in the fiscal year.
- More than 40% of the company’s revenues came from outside North America.
- Cloud net revenue retention of greater than 120% in the fiscal fourth quarter, a level achieved for more than eight consecutive quarters.
- Closed more than 15 deals over $5 million new ARR, including six over $10 million new ARR.
- Signed the largest deal in company history, a nine-figure total contract value (TCV) multiyear agreement with a leading North American financial services institution to transform its global contact center operations.
- Displaced legacy vendors Avaya and Cisco by more than three per day, on average, throughout fiscal year 2022, consistent with fiscal year 2021.
- Expanded Genesys relationships with partners, with more than 50% of new bookings influenced by partners in the fiscal year, and an increase in the number of partners in the AppFoundry® Marketplace by more than 35% year-over-year. During fiscal year 2022, more than 70% of Genesys customers used the company’s public APIs to customize the customer experience to meet their unique needs.
Marketing Technology News: Madwire® and Agfinity Land First Place NAMA Award for Internet Website Serving Agribusiness
In fiscal year 2022, Genesys also expanded its capabilities in digital, artificial intelligence (AI) and experience orchestration, with the acquisitions of Bold360, Exceed.ai and Pointillist. Through these acquisitions, the company expanded its industry leadership with journey analytics and conversational AI for marketing and sales — unifying the customer experience across all touchpoints. Additional milestones include:
- In December 2022, announced that the company raised $580 million in equity funding to accelerate its leadership in the Experience as a Service market globally.
- Released enhancements to Genesys Cloud CX, with new AI-based call routing, intent-aware bots and asynchronous web messaging. Organizations have seen success with these improved capabilities; Probe Group, an Australian Business Process Outsourcing consultancy, for example used Genesys Predictive Routing to reduce average handle time by 14%.
- Launched the Genesys DXTM product, an all-digital customer engagement solution that enables organizations to move the customer experience beyond transitional chat interactions.
- Formed a partnership with Qualtrics to help companies deliver world-class customer service experiences at scale. Bringing together Genesys engagement data and Qualtrics experience data, the alliance helps organizations understand every factor impacting customer satisfaction in a single view.
- Extended the power of Genesys Multicloud with availability on Microsoft Azure and an expanded partnership with Google Cloud to help organizations connect customer support and experiences in a more distributed, digital world. The partnership brings the Genesys Multicloud CX platform to Google Cloud, enabling organizations to deploy and deliver exceptional customer experiences on their infrastructure of choice.
- Created a collaboration with Thrive Global to help organizations counter the employee burnout crisis. Thrive Reset for Genesys, a first-of-its-kind employer-initiated stress intervention solution will launch on the Genesys AppFoundry, which we announced in Q1 FY23.
- Earned certification as a Great Place to Work® in Australia, Brazil, Canada, India, Ireland, Japan, New Zealand, Philippines, United Kingdom and the United States.
Recognition of Genesys leadership by industry analysts was significant over the fiscal year, including being named a Leader in Workforce Optimization Platforms by Forresteri, North American Enterprise Cloud Contact Center Market by Frost and Sullivanii, and a Leader in Conversational Intelligence by Opus Researchiii. Genesys was named a Leader in 2021 Gartner®iv Magic Quadrant™ for Contact Center as a Service.
“As much as CEOs and others talk about the importance of the customer experience, too few realize it isn’t merely a check-the-box static outcome; rather, it’s a dynamic relationship that changes and morphs over time,” said Alan Webber, VP for CX research at IDC. “The result is that experiences that were good enough yesterday are unlikely to meet today’s customer standards. Genesys is working with organizations to see how they can meet these heightened expectations and orchestrate experiences based on the context of each interaction across the enterprise. By adopting the foundation for a dynamic personalized experience, those companies are enabled to deliver the best experiences to their customers.”
Marketing Technology News: Digital Collectibles Platform Blockparty Partners With Warner Music Group