Genesys Announces Record-Setting Cloud Business Growth
– New bookings growth up nearly 130 percent for Genesys Cloud and more than 70 percent for Genesys Engage Cloud and Subscription year over year; company adds 800+ new customers during fiscal year 2021
– CEO Tony Bates appointed Chair of Genesys Operating Committee to propel company’s Experience as a Service strategy
Genesys, a global leader in cloud customer experience and contact center solutions, reported fiscal year 2021 was a record-setting period for its cloud business. New bookings increased nearly 130 percent for Genesys Cloud and more than 70 percent for Genesys Engage cloud and subscription year over year. The company also announced Chief Executive Officer (CEO) Tony Bates has been appointed chair of the Genesys operating committee, which has corporate oversight responsibility equivalent to a board of directors.
In his first full year as CEO, Bates led Genesys through a period of significant transformation, growing the company’s new cloud and subscription bookings in fiscal year 2021 to nearly 75 percent of total new bookings from 53 percent in 2019. This was driven by new and expanded customer deals, as well as cloud bookings growth in all regions, with a nearly 40 percent increase in North America, 35 percent in Europe and the Middle East, and nearly 25 percent in Asia Pacific.
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“Businesses all over the world are choosing Genesys because we have the right technology, innovation strategy, team and ecosystem to help them address consumers’ preferences for differentiated and delightful customer experiences and the changing nature of work,” said Bates. “It’s a privilege to lead the company as we redefine the market by enabling fluid, digital experiences that connect a customer’s entire journey with a business.”
Today, Genesys offers one of the industry’s broadest portfolios of cloud customer experience solutions to fit the requirements and scale of diverse global enterprise contact centers anywhere. With more than a 320 percent year over year increase in enterprise bookings, Genesys Cloud is experiencing accelerated demand from larger customers. In fact, nearly 60 percent of total Genesys Cloud bookings in fiscal year 2021 were from enterprises, with a 10x increase in the number of deals with annual recurring revenue (ARR) of $2.5 million or more. In addition, last year the company launched Genesys Engage Multicloud, the industry’s first native architecture to give complex global enterprises the ultimate flexibility in cloud infrastructure, deployment and management models so they can design unique service experiences for their customers in today’s digital world.
For many consumers, customer service departments have become a lifeline, helping them to manage uncertainty brought on by the pandemic about their finances, health, travel and more. As the world shifted rapidly toward digital offerings last year, more than 800 new customers turned to Genesys during fiscal year 2021 for its cloud and multicloud solutions to provide consumers with mission-critical support and to transition employees to remote work. This helped drive the company’s most successful period in its history, with sales growth and leading market share(2). Genesys also was recognized for its cloud leadership from industry analyst firms Gartner(3), Forrester(4), Frost & Sullivan(5) and Omdia(6).
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The close of a record year resulted in Genesys increasing its footprint in key industries including financial services, government, education, healthcare, telecommunications and retail. Notably, the company closed an eight-figure deal for Genesys Engage Multicloud with a Fortune 500 financial holding company. Overall, the company experienced significant momentum in large enterprise cloud and subscription bookings with 45 new deals of over $1 million in ARR in fiscal year 2021, including a global hardware and software company; one of the largest investment management companies; a private regional healthcare system in the United States; a S&P 500 Index telecommunications provider; and a global workplace and digital solutions company with a presence in more than 150 countries.
As a result of the flexibility and scale of its cloud solutions, the company increased its traction over legacy vendors, driving three displacements per day from Avaya and Cisco alone. Other milestones the company achieved include:
- New and expanded strategic alliances with cloud leaders including Adobe, Microsoft, Amazon Web Services, Google Cloud and Zoom;
- The company also launched Genesys Digital and AI, a new business unit charged with delivering digital-based innovations driven by artificial intelligence (AI), that can be deployed independently or consumed alongside the company’s other products;
- More than 100 percent year over year growth to more than 300,000 users on Genesys Cloud;
- Genesys delivered more than 250 cloud-based innovations to customers adding capabilities in AI, digital, WEM and more;
- Strong channel ecosystem and global reach with more than 50 percent of new bookings driven by partners; and
- Nearly 50 percent of total Genesys new bookings were outside of North America, demonstrating the company’s global strength.
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