Genesys acquisition focuses on AI capabilities and the Customer Journey
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.
“The acquisition of Altocloud bolsters our ability to optimise and connect the entire customer journey to ensure the best business outcomes,” said Paul Segre, chief executive officer of Genesys. “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.
“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,” said Nancy Jamison, principal analyst, ICT at Frost and Sullivan. “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.
“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,” said Barry O’Sullivan, Altocloud chief executive officer. “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.”