NICE has revealed a number of seven and eight-digit customer deals at its earnings call for its second quarter of 2023.
New signings included eight-digit deals with one of the largest entertainment, two major U.S. banks, and the West Coast of the U.S. government.
It also secured seven-digit deals with one of the largest hotel chains, a large global payment processor, a major communications company, a sizeable energy company, a very large consumer electronics company, a well-known retailer, and more.
While NICE has not shared the specific names of all of its new customers, Barak Eilam, Chief Executive Officer of NICE, gave his insights into what these companies were investing in, why, and how it has affected NICE’s bottom line for the past quarter: “We are winning many of these deals due to the native cloud architecture of CXone, the only platform in the market that seamlessly integrates digital and voice CX solutions.”
“Furthermore, the architecture of CXone with limitless scalability continues to fuel the expansion of our gross margin with every new deal.”
“The momentum that we are seeing at the high end of the market combined with the adoption of our fast-growing portfolio by our very large customer base will continue to fuel our profitability going forward.”
Eilam also attributed its future expansion and growth opportunities to its decisive leadership across all market segments.
The financial results of its Q2 2023 reflected the success of its CCaaS deals with its total revenue amounting to $581.1 million, which is an increase of ten percent compared to the $530.6 million achieved in the second quarter of 2022.
Cloud revenue was $381.9 million, which is an increase of 23 percent and a record of 66 percent of the company’s total revenue, compared to 59 percent last year.
New digital bookings in the quarter have also grown by 70% year-over-year.
CXone, NICE’s core product offering, is a next-generation customer experience (CX) cloud-native platform that includes AI capabilities, an integrated suite of applications, and end-to-end digital-first journeys.
As well as gaining some lucrative deals in the first quarter of the financial year, in April this year, it achieved the milestone of one million agents and supervisors.
The news arrived soon after Gartner named CXone one of three customers’ choice CCaaS platforms in its latest market study.
At NICE’s Interactions Customer Conference in June 2023, it bolstered its CCaaS offering with three new “groundbreaking” solutions that leverage both Enlighten and generative AI, which are Enlighten Copilot, Enlighten Autopilot, and Enlighten Actions.
Enlighten Copilot has been created to empower agents with AI, automation, and insights. Enlighten Autopilot provides an AI sales agent that can connect with customers on any channel. Finally, Enlighten Actions is designed to make unstructured data more accessible and efficient for businesses.
Eilam explains why Enlighten adds value for customers: “Algorithms can, of course, improve it, but having the [relevant, clean] data is really what makes an AI solution a superior one.
“We have billions and tens of billions of historical interactions, both current and historical completely labeled, completely clean, verticalized for specific use cases.
“And that’s what makes Enlighten so relevant and so unique in the CX space.”
NICE also announced the launch of Enlighten XO recently, which “gets bots in touch with reality”, according to NICE’s website, turning self-service interactions into engaging experiences. It generates insights from human conversations to create smart self-service with advanced AI.
