NICE is an Israeli based company and the world’s leading provider of both cloud and on-premises enterprise software solutions. Their software empowers organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens. The company operates in two segments, Customer Engagement, and Financial Crime and Compliance. It offers CXone, a cloud native open platform that supports contact centres ranging from small single sites to distributed remote agents and enterprises, and a digital-first omni-channel customer engagement platform that supports various digital and self-service channels, which allows organizations to add and integrate new and emerging channels. The company also provides AI driven smarter processes and adaptive workforce engagement solutions. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, are using NICE solutions.
NICE offers the most complete software and infrastructure package in the industry and we believe that it will continue to take market share in the next few years. The company released financial reports in May showing strong first quarter results driven by an accelerated 27% growth in cloud revenue. The company delivered double-digit growth in operating income and earnings per share with further expansion of their operating margins.
We believe that organizations are preparing for the next phase – the transformation to cloud and digital – and have now witnessed NICE’s ability to rapidly respond and manage changes that they thought would take years instead of days. As the clear leader in both cloud and digital technologies in its markets, along with a strong balance sheet, strong cash generation and a keen focus on execution and profitability, NICE is in the best competitive position to provide the platforms that these organizations need to transform their operations.
Get monthly insights and market commentary direct to your inbox