Stefan Karagyaurov, Executive Director Operations (Europe) and Country Director Bulgaria, on the importance of excellent customer experience
For almost 40 years now, TTEC has been a leader in a crucial part of modern economy and life: making customer experience better and more effective. The company provides businesses holistic solutions that combine AI, modern associate desktops and cloud-based CX technology for unique digital experience, agility and stability. This is of immense value for any brand that wants to stay relevant on the local and global market, expanding its operation and gaining new, satisfied customers.
TTEC arrived in Bulgaria in 2004. Its offices now employ more than 800 people and specialize in customers' service and technical maintenance.
We talked to Stefan Karagyaurov, Executive Director Operations (Europe) and Country Director Bulgaria, to learn more.
What is the recapitulation of TTEC for 2020 and 2021?
The revenue for 2020 was $1.949 billion and the operating income was $204.7 million, or 10.5 percent of the revenue (Non-GAAP was $242.4 million, or 12.4 percent of the revenue). The net income was $118.6 million ($179.7 million Non-GAAP). The adjusted EBITDA was $304.0 million or 15.6 percent of the revenue and the Fully Diluted EPS was $2.52 ($3.82 Non-GAAP).
TTEC achieved record performance across our 2020 booking, revenue, and profitability metrics. The full year 19 percent revenue growth, including the fourth quarter's 24 percent revenue growth and our full year 58 percent Non-GAAP operating income growth are the result of a growing market demand for partners who can with quality and reliability deliver virtual, digital and outcome-based customer experience solutions.
Our ability to swiftly and safely bring the technology and human talent to unprecedented levels of customer and citizen interaction has resulted in a significant increase in our overall client momentum. This increased market share, our strong revenue backlog, and growing sales pipeline, alongside our continued execution of strategic and accretive acquisitions, including Avtex, confidently sets us up to continue to deliver industry leading solutions and financial results into 2021 and beyond.
• TTEC in EMEA won 3 top awards as Employer of the Year, Business Services Project of the Year and Excellence in Partnership/Collaboration with Volkswagen Group UK at the "2021 Global Sourcing Association (GSA) UK Awards";
Customers' experience is more important for companies than ever. How TTEC can help in that matter globally?
TTEC Holdings, Inc. (NASDAQ: TTEC) is one of the largest, global CX (customer experience) technology and services innovators for end-to-end, digital CX solutions. The Company delivers leading CX technology and operational CX orchestration at scale through its proprietary cloud-based CXaaS (Customer Experience as a Service) platform. Serving iconic and disruptive brands, TTEC's outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next generation digital and cognitive technology, the Company's Digital business designs, builds, and operates omnichannel contact centre technology, conversational messaging, CRM, automation (AI/ML and RPA), and analytics solutions. The Company's Engage business delivers digital customer engagement, customer acquisition and growth, content moderation, fraud prevention, and data annotation solutions. Founded in 1982, the Company's singular obsession with CX excellence has earned it leading client NPS scores across the globe. The company's 58,000+ employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results.
Learn more about our company values, our Environmental, Social, and Governance (ESG), and how we support gender diversity, including through a leadership program that empowers the women of TTEC, on www.ttec.com.
For almost 40 years, our business has been helping companies make their customers happy.
In 2020 and 2021, TTEC continues to grow extremely well globally, regionally, and locally. Despite the difficult times of the pandemic in which we live, the company shows a sustainable growth of its business operations combined with a very high level of customer service.
What is the outsourcing industry in Bulgaria in 2020-2021?
Despite the Covid-19 pandemic, the industry in Bulgaria is moving in an upward direction. Bulgaria continues to be an attractive destination due to the presence of many specialists fluent in different languages, and it is also an attractive location for foreign investment. The combination of the geostrategic location of the country and the attractive tax policy, determine the interest in the location. In both 2020 and 2021, market dynamics remained the same, even increasing in some segments, with more and more new companies opening offices in the country.
What were the main challenges that TTEC faced in 2020 and 2021? How did it overcome them?
The main challenge, as in many other companies, was the onset of the pandemic, for which, of course, the world had no preparation. For us at TTEC, the main priority was to quickly move to work from home environment, and of course to ensure the continuity of the operations related to our daily work with our clients. I can proudly say that the team in Bulgaria coped with this task extremely quickly, and I dare say that we were one of the first companies in the country that managed to relocate their employees in a very short time, without any interruptions in our operations.
In addition to maintaining business continuity, we were also able to win recognized industry awards for our response to and management of the crisis. Award wins included categories such as Responding in a Crisis and Supporting Colleagues, Best Crisis Management Strategy and Most Effective Employee Engagement Programme (Culture CX).
What is the general profile of your customers?
Our clients operate in various industries, all of which are well-established names in their respective segments with a global presence.
Why do they choose TTEC services?
The high quality of the services we provide is of paramount importance. We are an extremely flexible partner in our solutions, which gives great added value to the services offered by our clients. TTEC is an innovator in the world of digital services, and in today's world of global digitalization, this is a huge advantage for us and of course for our customers.
What is the role of TTEC Bulgarian branch?
TTEC Bulgaria, with its branches in Sofia and Plovdiv, is part of the large global family of TTEC. Our role is to continue to provide very high-quality service to our customers and of course to continue to establish Bulgaria as one of the largest and proven over time Centers of Excellence for South-East Europe.
How do you choose the professionals who work there?
The majority of TTEC employees speak several foreign languages. The selection process is in several steps, at different stages we are assessing the professional skills and the level of proficiency in the language/s of the candidate. In addition to the HR team, colleagues from the respective departments in which the position has been announced also participate in the selection process. In this way, the candidate gets a complete picture of the new job and the responsibilities it will require.
The selection process is extremely transparent, and providing feedback to all candidates who have gone through the relevant stages is a mandatory part of the process.
Often the company has so-called "assessment centers," which can include current employees who want to take the next step in their careers within the company.
TTEC Bulgaria also relies on many of its own training programs, through which we invest in the people working in the company and in upgrading their knowledge and skills.
The language academies we organize for our current and new colleagues are part of our employee development policies.
What are your plans for future development?
Our plans, of course, are related to the continuation of our sustainable growth, as well as to the continuous improvement of the services we are providing to our customers. In today's world of digitalization, the company continues to be an innovator in the field, through the many products and services in our global portfolio.
What is the greatest thing for you, as a manager, of being a part of TTEC team?
The values and vision of the company are the things that make me extremely motivated in my work at TTEC. It is an honor for me to be part of a company for which the people are of paramount importance and of course to lead this amazing award-winning team in Bulgaria.