Genesys Reports 200% YoY Surge in AI Bookings and 40% YoY Growth in CCaaS Business

The Rise of Genesys: A Look at Their Recent Success

Genesys, a leading provider of customer experience solutions, has been making waves in the industry with their recent surge in new bookings for standalone AI products. Last quarter, they experienced a remarkable 200+ percent year-over-year increase in new bookings, including their largest ever AI win with a seven-figure annual contract value.

While details about the specific deal were limited, Genesys did mention that it is part of a significant customer experience transformation within a community service and well-being organization. This success comes as more of Genesys’ 6,000 CCaaS customers are starting to leverage AI, with over 40 percent now utilizing the native AI capabilities included in the Genesys Cloud CX.

Genesys attributes their rising AI success to delivering conversational, generative, and predictive capabilities that address real problems within CX operations. They have recently released an AI-driven agent copilot, a next-gen virtual agent, and new journey orchestration features, aiming to improve service experiences in contact centers.

Tony Bates, Chairman & CEO of Genesys, emphasized the importance of AI and journey orchestration in shaping the future of customer and employee experiences. With a clear vision forward, Genesys is investing heavily in research and development, with over $300 million allocated to Genesys Cloud research over a 12-month period.

In addition to their AI successes, Genesys has also seen substantial growth in their CCaaS business, with a 40 percent year-over-year increase. They have surpassed the $1.5 billion annual recurring revenue milestone for CCaaS revenues, solidifying their position in the market.

With impressive statistics such as almost 10,500 unique agents across their top 50 CCaaS customers and nearly five billion conversations on Genesys Cloud CX last quarter, Genesys is clearly making strides in migrating large enterprises to the cloud. Their commitment to sustainability practices and strong profitability further highlight their success in the industry.

While Genesys may not face the same revenue scrutiny as some of their competitors, their numbers speak for themselves. The growth and innovation they have demonstrated in both AI and CCaaS are setting them apart as a leader in the customer experience space. As they continue to invest in research and development and expand their offerings, Genesys is paving the way for a new era of AI-driven customer experiences.