NICE Claims to Have the CCaaS Industry’s “Highest” Win Rate

CEO Barak Eilam says the company has achieved the “ultimate” trifecta: “industry-leading” win rates, digital convergence, and AI

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NICE Claims to Have the CCaaS Industry’s “Highest
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Published: May 20, 2024

Charlie Mitchell

NICE has posted another successful quarter, with the CCaaS giant asserting its industry leadership in winning new business.

Barak Eilam, CEO of NICE, made the claim while recounting numerous seven-figure CCaaS wins, which pushed its Q1 revenues up 15 percent year-over-year (YoY).

Now, the vendor has reached a record $650MN in quarterly revenue after achieving consistent double-digital earnings growth in a crowded CCaaS market.

Celebrating the figures during the earnings call, Eilam praised the efforts of everyone at NICE in delivering the “ultimate trifecta”:

The industry’s highest cloud win rate, trailblazing digital convergence, and fully leveraging the tremendous CX AI opportunity.

While NICE has since confirmed that the win rate is “based on internal estimates”, the vendor is often at the forefront of analyst reports into the CCaaS space – alongside AWS, Five9, and Genesys.

Yet, it is a burgeoning market, with the likes of Microsoft, Google, and Zoom all throwing their hats into the ring in recent years.

Meanwhile, “smaller” providers also prove popular in specific geographies, sectors, or with unique designs. Think Odigo in Europe or UJET with its smartphone-first CCaaS architecture.

Given that diverse mix, the consistent growth of NICE and its CXone CCaaS platform is impressive, and Eilam discussed the differentiator.

“CXone stands out as the most complete… with its ease and speed to migration, best-in-class portfolio of solutions, [and] unparalleled scalability,” he said.

[The offering] is the most enterprise-ready cloud platform and is fueling NICE’s unmatched win rates in every evaluation or RFP.

While other vendors may contest this, NICE’s revenues speak for themselves, with Five9 perhaps the only publicly traded provider to regularly achieve double-digit growth.

Now, NICE hopes its AI and “trailblazing” digital convergence will continue to support its self-proclaimed industry-leading win rates.

In Q1, that proved the case, with the vendor reporting that all its CX deals – which came in at above $1 million in annual contract value (ACV) – included AI.

Meanwhile, on digital convergence, eight of every ten new enterprise customers that select CXone now manage “all customer interactions” within the platform.

NICE: The Biggest Deals of the Quarter

During the earnings call, NICE also shared many examples of seven-figure deals it had won over the past quarter.

Each aimed to exemplify the strengths Eilam laid out above. For instance, it won a megadeal with a large state credit union largely due to its promise to consolidate several siloed digital solutions into one unified system.

Elsewhere, NICE secured a contract with a “well-known” consumer loan company, which will leverage its digital and AI portfolio to improve self-service and customer experience.

As a final example, one of “the world’s largest” healthcare companies is now working with NICE to displace multiple legacy vendors, citing CXone’s scalability.

After sharing these examples, Eilam summarized: “We’re operating in a market that is still nascent in the areas of cloud, digital, and AI.

These areas still hold considerable growth potential and, coupled with the power of the CXone platform, we see significant long-term opportunities for sustained growth and profitability.

Yet, despite that promise, Eilam also announced last week that he will step down as NICE CEO, effective December 31, 2024.

A successor is yet to be appointed, with the CCaaS juggernaut considering internal and external candidates as part of a recruitment process that Eilam will help steer.

 

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