Our fourth quarter year-over-year top line performance primarily reflects the contribution from the April 2022 annual asset acquisition in our Engage segment, as well as increased CX technology services in our Digital segment, driven by the increasing adoption of cloud CX technologies. As Ken mentioned in his opening statement, we delivered a strong fourth quarter. TTEC Holdings, Inc. (NASDAQ:TTEC) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET, Paul Miller - SVP, Treasurer and IR Officer, Shelly Swanback - President, TTEC and CEO-TTEC Engage, Mike Latimore - Northland Capital Markets. In the fourth quarter of 2022, bookings were $197 million compared to $206 million in the prior year period, resulting in full year bookings of $762 million, an increase from $751 million in the prior year. However, for consistency, we felt it was important to share through the end of fiscal year '22. From legacy giants to digitally native startups, these trends will be altering the face of every industry across the globe. We expect this momentum to continue to build. As we build on the trust earned from these successful client programs, we will sell new asynchronous offshore services delivered at a higher margin. Good morning, George. As a result, moving forward, we will begin giving color on each individual segment's performance rather than discussing bookings at the overall TTEC level. Elevated. Last year, we successfully grew our offshore footprint by 60%, and we have plans underway to further scale in 2023. Our fourth quarter revenue growth is a function of increased cloud and systems integration services across our Tier 1 CX tech partner platforms, slightly offset by lower year-over-year product sales and on-premise managed services as more clients move to the cloud. Moving to Engage. results to differ materially from those expected and described today. Get notified about new Talent Acquisition Specialist jobs in United States. And we were recognized as a CX leader by all four major analyst firms. We expect the growth will ramp in the second half of 2023, driven by recovery in the previously mentioned impacted Engage verticals and continued go-to-market execution throughout the year. Operating income was $16.5 million or 13.3% of revenue compared to $20.2 million or 17.1% of revenue in the prior year period. Thank you. But in addition to that, what we're also seeing is that they're peeling off more business that's internal and moving it to a partner such as TTEC. And that's where we're actually working with our clients as well as working with the AI providers, which would be in many cases - in most cases, the hyperscalers, narrowing that information so that it's put in a vertical format and consequently, when questions are asked, whether it'd be for a chatbot, a voicebot, et cetera, that you're getting every single time an accurate answer and not something that's rather in the Bizarro [ph] category as many people have been playing with ChatGPT and experiencing. We're uniquely positioned to capture the opportunity because of our combination of deep CX domain expertise, CX technology services at scale and our experience delivering frontline customer engagement. Great. This employer has claimed their Employer Profile and is engaged in the Glassdoor community. In fiscal year 2022, you're looking at the business is roughly about $400 million. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. I know you pointed out a few things in the quarter specifically, for example the DSOs. We're well positioned to capitalize on the remaining 80% of large businesses and governments still operating on outdated on-premise legacy platforms. We're very excited about the current pipeline that we have. You can unsubscribe from these emails at any time. So jump on board, join our journey, and take your career amazing places along the way! The uncertainty in this economic environment is affecting the short and midterm outlooks for some of our clients, subsequently impacting our visibility. We wanted somebody that understood digital and we wanted somebody to understood very large scale. Are you expecting a similar pace in 2023? Thank you for your questions. Yet at the same time, businesses are challenged to do more with less. The attention of that statement was more going forward in Q1 and beyond. I know your plans to expand to a much larger company. Initiatives like our Flex EX platform are offering knowledge workers more flexibility with their schedule while allowing us to better match supply with the ebbs and flows of demand. Your input helps Glassdoor refine our pay estimates over time. And just the only other point, Vince, I'll fall on to Shelley's comment. Our Engage operating margins reflect the impacts highlighted in my earlier comments. We're leaning into resilient verticals where we offer differentiated solutions, the specialized nature of the work and licensing requirements in health care, financial services and public sector provide us with a competitive advantage. [Operator Instructions] Our first question is from the line of Maggie Nolan of William Blair. Last question is from the line of James Faucette of Morgan Stanley. That is all the time we have today. Adjusted EBITDA was $326.6 million or 13.4% of revenue. Additional pay could include bonus, stock, commission, profit sharing or tips. Now, more than ever, how we connect is everything. Our focus for 2023 goes without saying it's all about execution. It's a great question. Hey, guys. #40yearsofsmiles. Looking to hire great talent and contribute to . Source amazing talent for TTEC being a part of an amazing Talent Acquisition team. That said, being through now five recessions I want to be realistic about will we see the same level of conversions that we were seeing, let's just say, same time last year? The services that sort of surround that part of their platform. I mean I think one thing important to note is that the practices outside of Cisco, Dustin has been talking about Cisco for a while in terms of growing through that business there and getting that back to growth. - And if so, to what extent are they baked into the 2023 outlook? But as we open up and expand our locations and really capitalize on the great performance, particularly in health care that we had over the open enrollment season last fall, we're seeing good demand in new interest from our clients in some of those new offshore locations. The estimated base pay is $28 per hour. Other relevant guidance metrics include capital expenditures between 3.4% and 3.6% of revenue, of which 65% is growth-oriented, a full year effective tax rate between 22% and 24% and a diluted share count between $47.3 million and $47.5 million. On a consolidated basis for the full year 2022, revenue was $2.44 billion, an increase of 7.5% and 8.3% on a like-for-like basis, excluding the impact of pandemic-related volumes. They spend more money and become active promoters of their favorite brands. We would rather guide conservatively and have the potential to exceed then let our investors down. Full year revenue primarily benefited from the Avtex acquisition. Making others smile matters. So to answer your question, there will be more offshore business coming on, as a matter of fact, our pipeline has a significant amount of offshore business. We brought Shelly in, we brought Dave in, and we actually brought in a myriad of other very senior leaders that have all come on board over the last, let's just say, 12 months. I'll start with a review of our fourth quarter and full year 2022 results before providing you context on our 2023 guidance. This concludes TTEC's fourth quarter and full year 2022 earnings conference call. Operating income was $63.5 million or 13.5% of revenue compared to $59.6 million or 14.4% in the prior year period. And as they began to modernize their technology platforms in the CX arena, those are opportunities for us. We're responding to their needs by remaining agile. And as Dustin said, we're also expecting our clients outside the hyper growth sector to grow in the mid-single digits. It's the only pure play CX technology partner that also manages millions of customer interactions every day, we deliver value and customer insight that no one else can. So the truth of the matter is we have a solid pipeline of potential M&A. Your input helps Glassdoor refine our pay estimates over time. The average salary for a Talent Acquisition Specialist is $53,013 per year in United States, which is 38% lower than the average TTEC salary of $85,944 per year for this job. Decline in operating margins reflect incremental investment in CX leadership and engineering talent sales and marketing and product and technology developments. A full reconciliation of our GAAP to non-GAAP results is included in the tables attached to our earnings press release. So the future of AI as it will be used in the customer experience space is really with what we call vertical AI. Cash flow from operations was $137 million in 2022 compared to $251.3 million in the prior year. - Thanks, Dustin. But what I would just simply say to you is that we're going to - right now, our team is very focused on execution and on organic growth. And so we see that as a real opportunity. I just wanted to ask, what are you guys baking in for your 2023 outlook in terms of your onshore and offshore delivery mix, as well as some attrition metrics around that. While we have continued strength of resilient verticals like public sector, financial services and health care, we are experiencing weakness in our hyper growth sector. And one for you, Dustin, if I can. You may disconnect at this time. TTEC is proud to be an equal opportunity employer where all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender . So in the assumptions that we have right now relative to what will get us to the high end of that range, is how this hyper growth sector performs in the full year. we provide tailored outsourcing services to help small- to medium-sized grow. And then just as a follow-on, Cassie, the question. The reduction in cash flow from operations was primarily a function of lower profitability, higher interest payments and a DSO of 58 days in the fourth quarter compared to 54 days in the prior year period. We're accelerating our efforts to expand our delivery and language footprint. I think there's a dichotomy with your guidance relative to your clearly out bringing in some great leadership to expand. Now let me share our Engage initiatives that will add velocity to our growth engine, improve our margin profile and set the company up for long-term success. I would like to remind all parties that you will be in a listen-only mode until the question-and-answer session. Gold for Best Multilingual Contact Centre for TTEC Poland And that's our value proposition. Are you looking for a new job? And so we are fast tracking bringing online Asian languages, fast tracking, bringing on more European languages, et cetera, in the markets that we're entering. Bronze for Best Diversity and Inclusion Guaranteed. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Bringing smiles is what we do at TTEC for you and the customer. With our investments in predictive digital capabilities, that enable customer acquisition, growth and retention, we're delivering strong results for our clients in multiple industries, including health care, financial services and automotive. Your line is now open. Our domain expertise and proven best practices in these verticals are enabling us to attract new companies as well as expand our embedded base. It's quite a heavy lift. Join our Talent Network! In the fourth quarter of 2022, TTEC paid a $0.52 per share dividend or $24.6 million. As a Recruiting Specialist work onsite in GateWay Center, Araneta City, Philippines, you'll be a part of creating and delivering amazing customer experiences while you also #experienceTTEC, an award-winning employment experience and company culture.. What You'll Be Doing. Adjusted EBITDA was $84.8 million or 12.9% of revenue compared to $84.1 million or 13.7% in the prior year. What are you thinking? So our free cash flow was impacted by onetime items that we discussed earlier. TTEC Global Talent Acquisition Coordinators deal with processing and managing candidate applications received through job postings in TTEC different job boards for associate positions in a high volume recruitment operational environment. I would say that it is going to be predominantly organic. Could you elaborate on some of your assumptions there? Founded in 1982, our 62,000 employees operate on six continents across the globe. Organic growth was 1.6% on a constant currency basis. And so we're starting to see - we're starting to do some work and expand those services within that practice. This represents an increase of 13% over the prior year full period. And then your comment coming back to your point on attrition, while we're not giving out specific attrition metrics, partly due to the efforts across 2022, as well as I would say improving labor markets, we do expect attrition to improve within 2023 across both our offshore and domestic footprints. We appreciate everyone taking the time to join us today. Our solid performance was possible due to our trusted and long-standing partnerships with our clients and the passion, hard work and contributions of our amazing 69,000 teammates across the globe. Worldwide digital leader in CX | TTEC Customer experience delivered with humanity CX Optimized Outsourced customer experience and technology services that improve customer satisfaction and reduce cost to serve. The estimated additional pay is $25,775 per year. I attend conference calls daily. Training is wonderful and very good job, Bringing smiles is what we do at TTEC for you and the customer. We're dedicated to fostering and nurturing a welcoming culture where.css-epvm6{white-space:nowrap;}.css-epvm6{white-space:nowrap;} More, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. I have a great leadership team that I can reach out to at anytime. Thank you. Okay. So I would say, going back to right now, what we're at this point, talking about as you look at hyper growth, I said roughly $400 million to specific numbers, roughly 380 is coming down to roughly $300 million in fiscal year 2023 and then the rest of the remaining verticals are growing at 7%. The estimated base pay is $59,442 per year. Can you just give us a sense of how that growth is going to come? Do you expect it to stabilize in the second half or further deteriorate? As a Talent Acquisition Specialist, working onsite in Ahmedabad, Gujarat yo u'll be a part of creating and delivering amazing customer experiences while you also #ExperienceTTEC, an award-winning employment experience and company culture.. What You'll Be Doing. With our focused strategy, prudent investments and strengthened leadership team, we expect margins and growth to accelerate in 2024 and beyond. Pull back the curtain of some of the world's most iconic brands and you'll find the people and technology of TTEC. It's an honor to be recognized among the best in Europe. And then when you think about those large deals that might be building, is there any kind of incremental demand for maybe more of an offshore component within those deals. Are these onetime in nature? And so we just felt that it was prudent to take this conservative approach. On a full year basis, revenue increased 6.1% to $1.97 billion, 9.7% on a like-for-like basis, excluding the impact of pandemic-related volumes. Ken, I'm wondering if you could address the AI opportunity as you see it and where you're involved, specifically relative to AI? This concludes our call. Together, we are actively navigating the current environment and doubling down on our priorities that will build momentum as we progress through the year. Attend Job Fairs. As mentioned, we are pleased with our fourth quarter financial performance, especially when considering the headwinds that both Ken and Shelly highlighted earlier. Hey, guys. I think also we're very focused in those resilient sectors that Ken mentioned, particularly financial services and health care in terms of helping those clients that haven't outsourced before and that typically ends up being kind of a mix of onshore and offshore services. TTEC I think there's a big misconception in the marketplace with all the hype around ChatGPT that it's going to be - have a real positive impact on areas like customer service when, in fact, it actually is going to have very little impact because it's a horizontal AI product, which means that it grabs its information from crawling the web reading edit - reading Wikipedia et cetera. Thank you, Ken, and good morning, everyone. I know you added three more. Yes. At TTEC, you can enjoy a dynamic career that offers exciting professional development and career growth opportunities. Compensation is not the best and there seems to be a disconnect within the departments that are supposed to collaborate. Turning to our 2023 outlook. Thank you to our #TTECemea team for all your hard work. And I think we're excited about the pipeline and the momentum that we have with our partners across those other platforms. Hey, guys. So it's really about we need to continue to execute in the resilient verticals that we've discussed. And I have absolutely no doubt that we have the right team. So it's more of a statement around the rebase lining of the economy in 2023, the post-pandemic normalization and then having a platform to grow off of, expecting that, again, the macroeconomic weakness will alleviate in the second half. I guess, can you just provide a little bit more detail on kind of what would drive that improvement? As we talked about before, this year was a little bit impacted our mix relative to just the acquisition of Faneuil, which was all within the U.S. in the public sector. By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. If you have an ad-blocker enabled you may be blocked from proceeding. Organic growth was 1.6% on a constant currency basis. Our outcomes-based solutions are more critical than ever in this environment. The expectation is that it will be stabilized kind of second half is going to come down in the first half, stabilized in the second half. Next, continuing to scale our offshore delivery platform to strengthen our margin profile. And then ideally, going back to Maggie's original question, but momentum and then as we go into 2024. Thank you, sir. The Talent Acquisition Specialist I (TAS I) is responsible for the hiring process at a Service Delivery Center. And there's a variety of outcomes within them. Thanks, Ken. Our teams of knowledge workers, conversational designers, data curators and analytic experts deliver experiences that consistently delight our clients and wow their customers. Revenue increased 9.4% to $2.44 billion on a constant currency basis. Additionally, we're moving quickly and have a qualified pipeline for offshore delivery that has increased over the same - this same time last year. Like Ken, I'm very enthusiastic about the relevance of our CX solutions and the market demand for the outcomes we deliver. And unfortunately, during a cloudy time like this from a macroeconomic standpoint, sometimes clients take a bit longer to make a decision, sometimes they change the overall commitment of how large they're going to commit to in some of these large new deals, et cetera. And finally, continuing to build and scale our IP-based software that we directly embed in our solutions and also sell across the hyperscalers marketplaces. Talent Networks enhance your job search and application process. And we're being very thoughtful about those opportunities. But can you give us a sense or some more insight on the growth assumptions for the other key vertical cohorts embedded within the calendar '23 outlook? Thank you. The strengthening of the U.S. dollar in 2022 at a $42.4 million negative impact on revenue, while positively impacting operating income by $13.9 million, primarily within our Engage segment. Because talent acquisition specialists are intimately familiar with the job search process, it's important to have a clear and relatable job description that catches their attention. Today TeleTech (TTEC) operates in 19 countries with an estimated 48,000 employees. In 2022, we added three new geographies to our operational footprint that now spans more than 20 countries. We expanded our client base by winning 93 new logos and we grew our delivery footprint with three new offshore geographies. I'm pleased with our accomplishments in 2022, despite the fact that our financial performance was tempered by the increased macroeconomic headwinds that emerged in the second half of last year. If not using TTEC Active Directory (AD) credentials: Non-SSO Log In . It's an honor to be recognized among the best in Europe. Talent Acquisition Specialist this is a remote position. In any economy, an exceptional customer experience sets the most admired brands apart. Founded in 1982 and with more than 50,000 employees operating across six continents, we use a blend of technology and humanity to help clients provide a great experience to their customers, build customer loyalty, and grow their business. Thank you. And so this year is roughly obviously, this year being fiscal year '22 or last year was roughly 70-30, and we plan to shift the mix by about three points this year, and they continue to accelerate in 2021 and beyond. I think that right now we're really focused on execution and really trying to understand where values are going to be. These digital transformation initiatives are complicated and will provide us with technology and managed service opportunities for many years to come. Thank you. IT Services and IT Consulting, Telecommunications, and Outsourcing and Offshoring Consulting, Be a brand ambassador throughout the applicants journey and deliver a positive candidate experience, Meet daily, weekly and monthly recruiting tasks, Review applications and update applicant data in application tracking system, Call outs to candidates to complete pending steps in their application process, Foster an inclusive team and environment through your recruitment efforts, Minimum 2 years of recruitment experience, Bring your attention for structure and accuracy to hit goals and meet targets, Articulate, interact and understand client needs and expectations, Lead by example and mentor with your ethical judgement, Knowledgeable, encouraging, supporting and present leadership, Career growth and a lot of learning opportunities for aspiring minds, Ask us about our paid time off (PTO) and wellness and healthcare benefits. Bronze for Best Place To Work - Large Get started with your Free Employer Profile, All Talent Acquisition Specialist Salaries, average salary for a Talent Acquisition Specialist is $53,013 per year in United States, The Ultimate Job Interview Preparation Guide. I would now like to turn the call over to Paul Miller, TTEC's Senior Vice President, Treasurer and Investor Relations Officer. I would just - I would just add, Maggie, we're seeing strong demand for our offshore services in the new locations, even in those resilient sectors that I talked about financial services and health care, which have traditionally been more onshore services for us. And so I do think that will be an opportunity. For a more detailed description of our risk factors, please review our annual report on Form 10-K. A replay of this conference call will be available on our website under the Investor Relations section. Gold for Best Multilingual Contact Centre for TTEC Poland What I would add to that is the following is that our pipeline is actually quite a bit stronger this year, same period than it was last year at the same time. So we have a pipeline of opportunities with some of the clients in that hyper growth sector. That makes sense. Please note that these forward-looking statements reflect our opinion as of the date of this call, and we undertake no obligation to revise this information as a result of new developments that may occur. AI-based tools are enabling us to find, train and onboard these knowledge workers with speed. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause our actual. Know Your Worth. Saving searches You can search for jobs in more than one job field, location and organization. I will now turn the call back to Paul Miller. And lastly, EPS was $0.89 compared to $1.08 in the prior year. You may begin. Yes. We feel really comfortable with where we are in the marketplace and the amount of business. You can also use a job number or a keyword. And is this like replacing some of your onshore delivery centers? Non-GAAP earnings per share of $2.54, a decrease of 31% over the prior year. He/she works closely with site TA team to coordinate recruiting efforts as needed. Our combined recurring cloud and managed services revenue grew 4.5% in the fourth quarter of 2022 over the prior year period, representing 54% of Digital's total revenue and our reoccurring systems integration revenue grew 18%, representing 27% of total revenue. In an uncertain economy, keeping these loyal customers is paramount. Welcome to TTEC's Fourth Quarter and Full Year 2022 Earnings Conference Call. On the remaining 80 % of revenue question is from the Avtex Acquisition uncertainties and other factors could. Gaap to non-GAAP results is included in the mid-single digits James Faucette of Morgan Stanley 59.6 million 12.9! 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