Genesys has achieved its largest-ever new bookings quarter for its Genesys Cloud CX platform.
Thanks – in part - to this impressive Q4 performance, the contact center vendor earned $800MN in annual revenues through the platform, up 50 percent (YoY).
These results took Genesys’s total annual revenues past $2BN for the first time.
Commenting on the results, Tony Bates, CEO and Chairman of Genesys, said:
As an all-in-one platform, it's unmatched in its ability to transform and modernize how organizations connect with people, integrate real-time data, optimize proactive, personalized engagement, and deliver a true loyalty differentiator.
Indeed, the platform often performs well in analyst reports, with Genesys considered one of just three market leaders in the latest Gartner Magic Quadrant for CCaaS report.
Yet, other factors are at play here besides Genesys offering an acclaimed CCaaS platform.
For instance, the vendor decided to ditch its Multicloud CX solution in October last year. This likely contributed significantly to the impressive Q4 results of its Genesys Cloud CX platform.
At the time, Bates noted that the vendor was engaging with Multicloud CX customers and helping them find "the best available path to migrate to Genesys Cloud CX."
In the same blog post, Bates also announced the end of its legacy innovation – despite noting that the vendor will continue supporting its deep on-premise base. He wrote:
Going forward, we’re making a strategic pivot as a company and focusing all of our innovation, investment, and resources on accelerating the market leadership of Genesys Cloud CX.
In making this statement, Genesys made its aim to migrate customers to its one remaining cloud platform much more explicit – which may have also encouraged a wave of CCaaS migrations.
Ultimately, this will have bolstered its cloud business, which – over time - is much more profitable than continued licensing for its on-premises customers.