Freshworks Recognized in Fourth Gartner Magic Quadrant Report for 2020
Freshworks Inc., the customer engagement software company, announced its Freshservice offering was included in the 2020 Gartner Magic Quadrant for IT Service Management Tools, with Gartner recognizing the company for its completeness of vision and ability to execute. In 2020 Gartner also recognized Freshworks for its Freshsales offering in the Magic Quadrant for CRM Lead Management and the Magic Quadrant for Sales Force Automation and for its Freshdesk offering in the Magic Quadrant for the CRM Customer Engagement Center, where it was named a Visionary, which means an inclusion across four Gartner Magic Quadrants in a single year.
The inclusion in this fourth analyst based research comes on the heels of Freshworks recognition in Gartner’s research based on their user-generated content. Freshworks was recognized in three Gartner ‘Voice of the Customer’ reports in 2019 for CRM Customer Engagement Center, Sales Force Automation, and IT Service Management Tool7, the latter which aggregated the findings across hundreds of customer reviews.
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According to the 2020 Gartner Magic Quadrant for IT Service Management Tools, “the COVID-19 pandemic has highlighted the need for robust ITSM tooling to enable I&O to effectively respond to significant disruption in several ways”.
“Freshservice has been a lifesaver for TaylorMade,” said Ali Chitsaz, global head of client experience at TaylorMade. “When the pandemic hit, our IT team was inundated with a 250% increase in inquiries from employees suddenly forced to navigate computer issues from their home office. Employing Freshservice enabled us to decrease response and resolution times by half while our employee satisfaction ratings went up from 60 to 70% to high 90%.”
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“We believe that Gartner’s continued recognition of Freshworks reflects our drive to build powerful software that delivers great outcomes across our portfolio of employee and customer engagement products,” said Prakash Ramamurthy, Chief Product Officer at Freshworks. “Notably, when the pandemic hit in March, businesses turned to Freshworks to help them quickly shift to digital and remote solutions that enabled superb experience for their employees and great service for their customers.”
Gartner predicts that global IT spending is “projected to total $3.9 trillion in 2020, an increase of 3.4% from 2019. Software will be the fastest growing major market this year, reaching double-digit growth at 10.5% .” Freshworks continues to see impressive growth across its portfolio with over 40,000 companies using Freshworks’ SaaS products to better engage and serve employees and their customers. To fuel further demand and offer increased utility to businesses, Freshworks acquired AnswerIQ earlier this year—bolstering its AI capabilities to enhance customer self-service and free up agent time to handle more complex requests. The company also acquired IT orchestration and cloud management platform Flint to provide more visibility and automation for Freshservice.
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