Genesys Acquires Altocloud to Empower All Businesses with Improved Sales and Service Results Through AI and Journey Analytics
Genesys customers gain rich real-time engagement capability to deliver a hyper-personalised experience, resulting in higher lead conversion and customer satisfaction
Genesys has completed the acquisition of privately held Altocloud Ltd, an industry-leading cloud-based customer journey analytics provider. By adding the Altocloud solution to its portfolio, Genesys strengthens its capability in artificial intelligence (AI) and machine learning to help organisations deliver a highly responsive, predictive, and fully-contextual experience throughout all stages of the customer journey – from marketing to sales to service.
Paul Segre, chief executive officer of Genesys said,
“The acquisition of Altocloud bolsters our ability to optimise and connect the entire customer journey to ensure the best business outcomes,”
“We are particularly excited by applications, like Altocloud, which give organisations a live look into the behaviour of consumers and their potential as customers. By empowering employees with this depth of actionable insight, organisations are better positioned than ever to convert shoppers into buyers, leads into customers, and consumers into brand advocates.”
With this acquisition, Genesys increases its capability to engage and intervene in a customer’s journey at the right moment to drive a desired action, such as buying a product, registering for an event, or booking a trip. Current Altocloud customers have seen significant improvements to key business metrics including:
• A global provider of voice, video and content sharing solutions reduced cost-per-lead by 62 percent and cost-per-chat by 72 percent.
• A leading provider of wearable wireless sensor products and solutions increased customer engagement rates by nearly 80 percent without additional sales or marketing staff.
• A leading online retailer realised a 30 percent reduction in cart abandonment rates.
Nancy Jamison, principal analyst, ICT at Frost and Sullivan commented,
“Every company today is wrestling with one immense challenge: how to dramatically increase the infinite potential of digital channels to engage customers in a way that produces more meaningful business results,”
“Adding the innovative, field-proven Altocloud technology to the Genesys offering will exponentially drive businesses ability to gain insight into how and when to interact with customers. Collectively, these are attractive differentiators that further solidify the Genesys leadership position within the customer experience industry.”
The combination of Genesys and Altocloud will enable businesses to score and predict a consumer’s journey in real time across channels, while they are live on a website, using a mobile app or in a conversation with an employee. This is achieved through AI and machine learning, which use pre-defined personas and past behaviour analysis to automatically predict consumer outcomes and give context to the customer’s journey. As a result, organisations can deliver the next-best action by the right employee for improved success rates.
Barry O’Sullivan, Altocloud chief executive officer said,
“We built Altocloud because we saw a more dynamic way to drive better business results by taking advantage of the power and potential of AI,” “We are excited to join a proven customer experience innovator and AI leader like Genesys, so we can extend the reach of our revolutionary journey management technology even further to help thousands of companies across the globe through hyper-personalised, digitally-connected experiences.”
Altocloud is headquartered in Galway, Ireland, with a small U.S. presence in the San Francisco Bay Area.
The Altocloud customer journey management solution is a perfect complement to the Blended AI strategy of Genesys, which combines AI with the power of the human touch. This is furthered by Kate, the personification of Genesys AI, automation and machine learning, who helps customers and live agents solve problems faster and more efficiently.
Genesys® powers more than 25 billion of the world’s best customer experiences each year. Our success comes from connecting employee and customer conversations on any channel, every day. Over 10,000 companies in more than 100 countries trust our #1 customer experience platform to drive great business outcomes and create lasting relationships. Combining the best of technology and human ingenuity, we build solutions that mirror natural communication and work the way you think. Our industry-leading solutions foster true omnichannel engagement because they perform equally well across channels, on-premises and in the cloud. Experience communication as it should be: fluid, instinctive and profoundly empowering.