The CX Cloud from Genesys and Salesforce is generally available, and its first customers are now up and running on the platform.
That first batch includes almost 20 enterprises, with Colruyt Group, the European retail corporation, one of the most recognizable new names.
However, more Salesforce-centric businesses are in the pipeline, looking to leverage an offering that pulls Genesys’s contact center, journey orchestration, and workforce engagement management (WEM) solutions into Service Cloud.
In doing so, these businesses may access more mature CCaaS solutions while pulling new data into the Salesforce ecosystem (as CX Today previously reported).
Not only will that firehouse of data support deployments of AI in CX, but it may also help to connect the service, sales, and marketing ecosystem.
Yet, the CX Cloud announcement is just one of many, as Genesys released its fiscal year 2024 business results.
Most notably, its revenues rose by more than ten percent year-over-year (YoY), with the Genesys Cloud CCaaS platform generating the lion’s share.
Indeed, the offering helped the Magic Quadrant leader rake in $1.2BN over the full year, which represents an impressive growth of 45 percent (YoY) in subscription revenue across the platform.
NICE is the only other market player to generate over $1BN in CCaaS revenues.
The hike in CCaaS revenue comes as Genesys booked over 85 deals valued at $1MN+ in annual contract value (ACV) for the platform over the 12-month period.
Meanwhile, the number of deals with an ACV of $5MN grew by more than 65 percent (YoY).
Celebrating the vendor’s CCaaS bookings growth – alongside the launch of the CX Cloud from Genesys and Salesforce – Tony Bates, CEO and Chairman of Genesys, stated:
Our record-setting bookings are evidence that our vision to ensure every customer and employee interaction is personalized and continually optimized is resonating with the industry.
“Our customers are looking to us to lead them into that future, which happens in the cloud with Genesys AI-powered experience orchestration.”
While the Genesys numbers appear promising, it’s critical to note that the vendor is a private company. As such, it can pick and choose the financial results it puts into the public domain.
Therefore, its numbers do not come under the same scrutiny as other contact center stalwarts, such as Cisco, Five9, and NICE.
That said, the vendor did share many more impressive statistics while celebrating its recent acquisition of Radarr Technologies and the launch of a new R&D center in Budapest.
More FY2024 Highlights from Genesys
Alongside a hike in $5MN+ ACV deals, Genesys revealed that the average number of unique agents for each of its top 50 Genesys Cloud customers surpassed 10,000. That’s up almost 30 percent YoY.
The statistic reiterates Genesys’s success in moving large enterprises across to its CCaaS platform – many of which transitioned from its legacy base.
Indeed, 950 customers – out of the 5,700+ that leverage the Genesys Cloud – have migrated from Engage, Genesys’s legacy platform.
Such migration success perhaps derives from the vendor’s strength in sharing helpful processes and solutions that support businesses as they move from legacy environments, as Gartner underlined in its latest Magic Quadrant report.
However, Genesys also suggests that AI has played a role, highlighting that the use of digital bots on the platform surged by four times (YoY) and voice bots rose by three times (YoY).
In addition, platform users have already automated over 1.2MN contact summaries via Genesys’ Auto Summarization for Agent Assist, since its launch in Q3 of the last financial year.
Alongside auto-summarization, Genesys released 400 new features over the 12 months, including 100+ new workforce engagement management (WEM) capabilities and almost 70 AI-powered tools.
In terms of the types of businesses leveraging these tools within its Cloud, Genesys revealed it had achieved significant growth in sectors such as healthcare, retail, and business services. There, revenues have risen by 75, 65, and 65 percent, respectively.
Finally, Genesys noted that it won $200+MN in new and sustained business thanks to its sustainability practices – underlining the value for CX vendors in uplevelling their ESG practices.
