Concentrix Stock

Concentrix Corporation operates as a global provider of Customer Experience (CX) solutions and technology that help iconic and disruptive brands drive deep understanding, full lifecycle engagement, and differentiated experiences for their end-customers around the world.

The company provides end-to-end capabilities, including CX process optimization, technology innovation, front- and back-office automation, analytics and business transformation services to clients in five primary industry verticals. Its differentiated portfolio of solutions supports Fortune Global 500, as well as high-growth companies across the globe in their efforts to deliver an optimized, consistent brand experience across all channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications. The company strives to deliver exceptional services globally supported by its deep industry knowledge, technology and security practices, talented people, and digital and analytics expertise.

The company offers its clients integrated solutions supporting the entirety of the customer lifecycle; CX and user experience (UX) strategy and design; analytics and actionable insights; and innovative new approaches to enhancing the customer experience through the latest technological advancements in its industry. The company is a leader in the shift from traditional Customer Relationship Management (CRM), which is focused on a portion of the customer lifecycle, to CX, which supports the entirety of it. Through its end-to-end capabilities, the company delivers better economic outcomes for its clients with solutions designed to meet their unique needs as they navigate a landscape characterized by discerning consumers and new market entrants.

The company’s average client tenure for its top 25 clients is approximately 17 years. As of November 30, 2022, the company served over 130 Fortune Global 500 clients, as well as more than 125 new economy clients. The company primarily supports clients in verticals with certain characteristics, such as high growth, high transaction volume, high levels of compliance and security, and steep barriers to entry. The company’s strategic verticals include technology and consumer electronics, retail, travel and ecommerce, communications and media, banking, financial services and insurance, healthcare, and other.

The company’s clients include 8 of the top 10 consumer electronics companies; 4 of the top 5 tech companies; 6 of the top 10 fintech companies; 5 of the top 5 U.S. banks; 3 of the top 5 ecommerce companies; 4 of the top 5 U.S. health insurance companies; 2 of the top 5 2022 global IPOs; and 4 of the top 5 social brands.

Through the company’s technology-infused offerings, its clients benefit from having a single resource that enables them to address the entirety of the customer journey from acquisition to support to renewal. The company’s end-to-end capabilities and broad service offerings help its clients acquire, retain, and improve the lifetime value of their customer relationships while optimizing their back-office processes.

The company combines global consistency with local expertise, enhancing the end user experience for its clients’ customers through services rendered by a team of approximately 315,000 across approximately 300 locations in more than 40 countries and 6 continents, where the company conducts business in over 70 languages.

In July 2022, the company completed its acquisition of ServiceSource International, Inc. (ServiceSource). ServiceSource is a global outsourced go-to-market services provider, delivering business-to-business (B2B) digital sales and customer success solutions that complemented its existing offerings in this area.

In December 2021, the company completed its acquisition of PK, a leading CX design engineering company with more than 5,000 staff in four countries. PK creates pioneering experiences that accelerate digital outcomes for their clients’ customers, partners and staff. The acquisition of PK expanded the company’s scale in the digital IT services market and supported its growth strategy of investing in digital transformation to deliver exceptional customer experiences. The addition of the PK staff and technology to its team further strengthened its capabilities in CX design and development, artificial intelligence (AI), intelligent automation, and customer loyalty.

CX Solutions and Technology

The company, through its strategy, talent and technology, offers solutions that help its clients enhance the experience for their customers and improve business performance. The company’s CX solutions encompass its core service offering of Customer Lifecycle Management and three complementary areas: CX/UX Strategy and Design; Digital Transformation; and VOC and Analytics. Through its integrated CX solutions offering, the company’s clients engage it to acquire, support and renew customers, leverage customer feedback and insights to constantly improve business performance, and identify and implement customer-facing and back-office process improvements.

The company helps its clients by creating tools that their customers and employees love to use, enable better customer interactions through real-time sentiment analysis, and integrate multiple customer interactions and touchpoints into one-stop smart mobile applications. The company provides these solutions and other complementary services in 70 languages, across 6 continents, from approximately 300 locations in the Americas, the Asia-Pacific and EMEA.

Customer Lifecycle Management: The company seeks to deliver next-generation customer engagement solutions and services that address the entirety of the customer lifecycle. The company offers its clients the means to acquire, support and renew customers across all channels while minimizing attrition and increasing customer lifetime value. The company’s Customer Lifecycle Management solutions include services, such as customer care, sales support, digital marketing, technical support, digital self-service, content moderation, creative design and content production, and back office services. Customer Lifecycle Management represents its core service offering and a significant majority of the services the company provides.

In addition to the company’s Customer Lifecycle Management services, it provides the complementary services described below, which are provided to clients as integrated solutions with the company’s core service offering:

CX/UX Strategy and Design: The company strives to help its clients reimagine what great is, designing next generation CX solutions to exceed customer expectations. The company’s CX/UX Strategy and Design solutions, including CX strategy, data-driven user design, journey mapping, and multi-platform engineering, enable its clients to create effortless, personalized customer engagements and align business priorities around measurable goals. Through these services, which the company expanded with its December 2021 acquisition of PK, the company promotes a more rapid integration of digital and enabling technologies, providing transformational business services to its clients.

Digital Transformation: The company seeks to offer cutting edge solutions to reshape how brands better engage with their customers. The company’s innovative solutions and services are focused on creating disruption to help its clients stay relevant and achieve better business outcomes. The company’s Digital Transformation solutions include services, such as Robotic Process Automation (RPA) and cognitive automation that automate processes to improve efficiency and accuracy, mobile app development to solve business challenges through new channels of customer engagement, work-at-home and gig platforms that capitalize on a changing and flexible workforce, Interactive Voice Response (IVR) and natural language understanding solutions that improve outcomes and customer experience with automated responses to verbal interactions, messaging and social platforms that allow clients to engage with customers across myriad platforms, and system integration services. The company’s December 2021 acquisition of PK added breadth and scale to its digital transformation services, further strengthening its capabilities in CX design and development, AI, intelligent automation, and customer loyalty.

Voice of the Customer and Analytics: ConcentrixCX, the company’s VOC solutions platform, helps turn customer feedback into actionable insights. The company’s Analytics solutions provide businesses with insight into rapidly changing markets through data, which provides its clients with a competitive edge. The company’s VOC and Analytics solutions include offerings, such as VOC Essentials, its VOC SaaS platform, speech and text insights, sentiment analysis, advanced analytics and real-time reporting.

The company provides CX solutions for more than 1,000 clients worldwide. The company operates globally in over 40 countries across 6 continents with the ability to conduct business in 70 different languages. Its global footprint includes a strong presence in emerging markets, such as India, China, Brazil, Vietnam, Thailand and Indonesia, which provides an opportunity to grow with its clients in these regions.

Growth Strategy

The key elements to the company’s growth strategy are to expand and deepen relationships with existing clients; relentlessly innovate and develop new digital services and solutions; further expand into adjacent markets; selectively pursue strategic acquisitions; and invest in emerging markets.

Customers

In the year ended November 30, 2022, the company served more than 1,000 clients across various verticals and geographies. Its strategic verticals include technology and consumer electronics, retail, travel and e-commerce, communications and media, banking, financial services and insurance, healthcare and other. The company focuses on developing long-term, strategic relationships with clients in verticals with certain characteristics, such as high growth, high transaction volume, high levels of compliance and security, and steep barriers to entry.

Sales and Marketing

The company markets its services through a sales force organized by industry vertical and geography.

International Operations

Approximately 78% of the company’s revenue is generated by its non-U.S. operations. A key element in the company’s business strategy has been to locate its service delivery centers in markets that are strategic to its client requirements and cost beneficial. The company has significant operations in the Philippines and India, as well as throughout EMEA and the Americas.

Seasonality

The company’s revenue and margins fluctuate with the underlying trends in its clients’ businesses. As a result, its revenue and margins are typically the highest in its fourth fiscal quarter (year ended November 2022).

Competition

The company’s major competitors include core CX solutions competitors, including Majorel Group Luxembourg S.A., Sitel Group, TaskUs Inc., TDCX Inc., Teleperformance S.A., TELUS International, TTEC Holdings, Inc., and Webhelp SAS; other CX solutions competitors that primarily provide complementary services, such as consulting and design, IT services, business process services, VOC and analytics, including Accenture plc, Cognizant Technology Solutions Corporation, ExlService Holdings, Inc., Genpact Limited, Medallia, Inc., Qualtrics, LLC, and WNS (Holdings) Limited, as well as digital IT services competitors, including Endava UK Ltd., EPAM Systems, Inc., Globant S.A. and Thoughtworks Holding, Inc.

History

Concentrix Corporation was incorporated in Delaware in 2009.