I'm particularly excited about helping our clients harness the power of AI with expanded services and data annotation and curation supported by our skilled knowledge workers. We think that's a trend that we're going to see over the next 5-plus years. 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. Thank you. Participating on today's call are Ken Tuchman, Chairman and Chief Executive Officer of TTEC; Shelly Swanback, Chief Executive Officer of TTEC Engage and President of TTEC; and Dustin Semach, Chief Financial Officer of TTEC. Good morning. And I think we're excited about the pipeline and the momentum that we have with our partners across those other platforms. And that's our value proposition. And those will - as we sell into that demand and open those geographies, we expect the pace of that - those offshore services to increase throughout the year. So jump on board, join our journey, and take your career amazing places along the way! And so we see that as a real opportunity. Just keep in mind, too, that within hyper growth, this is largely around growth services and customer care, and it's not really related to content moderation. While technology has always been fundamental to our solutions for clients, we've provided a steady hand to separate the helpful from the hype, from the earliest IVRs to today's latest developments with AI, our focus has always been delighting customers and helping our clients grow. In conclusion, we're managing for today while we continue to strengthen the foundation for our future, reviewing 2023 as a year focused on disciplined and agile execution as we continue to drive towards diversification across clients, geographies, languages and solutions to optimize our revenue mix and further strengthen our margin profile. 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. 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. As we open up the call, we ask that you limit your questions to one at a time. We're very excited about the current pipeline that we have. So not only do we have the benefit of the consolidation where they're going with fewer players, which we think is a good thing, not a bad thing. The other practices are growing 10-plus percent. And so again, that's around the stabilization. As a Talent Acquisition Specialist, working onsite in Ahmedabad, Gujarat yo u'll be a part of creating and delivering amazing customer. The attention of that statement was more going forward in Q1 and beyond. 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. So the future of AI as it will be used in the customer experience space is really with what we call vertical AI. And if so, to what extent are they baked into the 2023 outlook? And any go-to-market details beyond that would be helpful. Organic growth was 1.6% on a constant currency basis. As a. We are excited about our future, supported by our 40 year track record of delivering innovation and value-driven CX outcomes for our clients, strong executive leadership team and an unmatched CX technology and services platform. Yes. Get started with your Free Employer Profile, All Talent Acquisition Specialist Salaries, The Ultimate Job Interview Preparation Guide. By continuing to use our website and/or clicking OK, The weakening macroeconomic environment is creating a few specific short-term challenges. 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. Our full year top line growth was primarily driven by the Engage Faneuil acquisition in April of 2022 and Digital's Avtex acquisition in April of 2021, alongside increased business across our core offerings from new and existing clients. Yes. So Jonathan, just a follow-up on that point. Capital expenditures were $84 million or 3.4% of revenue for the full year of 2022 compared to 60.4 or 2.7% in the prior year. Thank you. Bringing smiles is what we do at TTEC for you and the customer. I know you added three more. Ken, Curious, are you seeing meaningful consolidation opportunities? Making others smile matters. Our two distinct but connected business segments enable us to deliver differentiated results in this new phase of AI-driven CX innovation. This will give us momentum as we exit 2023 and head into 2024. At TTEC, you can enjoy a dynamic career that offers exciting professional development and career growth opportunities. Operating income was $69.9 million or 10.6% of revenue compared to $68.3 million or 11.2% in the prior year. They spend more money and become active promoters of their favorite brands. 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? With our focused strategy, prudent investments and strengthened leadership team, we expect margins and growth to accelerate in 2024 and beyond. And so there's a lot of proof of concepts, a lot of experimentation going on, and we're really grateful that the hyperscalers have chosen to partner with us in a very significant way and that they obviously have a very large pipeline, and we're there to service that pipeline as well as our embedded base clients on Engage. And one for you, Dustin, if I can. You may disconnect at this time. This is one of the reasons I'm really excited to have Dave on the team. And today, we are as excited as ever. Additional pay could include bonus, stock, commission, profit sharing or tips. Click the link in the email we sent to to verify your email address and activate your job alert. 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. I'm more confident than ever about our path forward with Shelly Swanback and Dave Seybold, by my side. 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. 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. From legacy giants to digitally native startups, these trends will be altering the face of every industry across the globe. Organic growth was 1.3% on a constant currency basis. Thank you, Shelly, and good morning. Smart brands no longer are waiting for their customers to reach out when something goes wrong. Human discernment and compassion will play a key role in building trust as these new AI functions are integrated into CX solutions. So hopefully, that's helpful. And their entire focus is execution to double the business and double it in the shortest period of time possible while significantly increasing our margins. You can unsubscribe from these emails at any time. Sign in to save Talent Acquisition Specialist 1 - GTAS at TTEC. In addition, we were named by Forbes as one of America's best large employers for the third consecutive year. Dave and his team are accelerating progress on our digital priorities. Now I'd like to share our thoughts on 2023. Good morning. In health care, in 2022, we implemented 14 open enrollment programs for 10 clients, and we were consistently the top performer. These capabilities accelerate speed to proficiency, create new career pathways, deliver the best possible business outcomes and will create higher margin opportunities for TTEC. Could you elaborate on some of your assumptions there? 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. I will now share other 2022 measures before moving to our outlook. And of course, we're, as Ken said, very focused on this and not just with our embedded base, but for new client prospects as well. For example, our work with New York Metro tolling and transportation authorities is well underway with an anticipated go-live date in 2024. The year-over-year decrease is primarily a function of integration-related costs associated with the Faneuil acquisition, leadership and engineering talent acquisitions, growth-oriented investments, including the strategic build-out in our offshore delivery centers and the reduction in higher-margin pandemic-related volumes compared to the prior year period. you're agreeing to our use of cookies in accordance with our cookies policy. Next question is from the line of George Sutton of Craig-Hallum. Operating income was $63.5 million or 13.5% of revenue compared to $59.6 million or 14.4% in the prior year period. Join our Talent Network! So I don't want to speak for Shelley, but what I would just tell you is the following. Together, we are actively navigating the current environment and doubling down on our priorities that will build momentum as we progress through the year. The uncertainty in this economic environment is affecting the short and midterm outlooks for some of our clients, subsequently impacting our visibility. On a full year basis, Digital's 2022 revenue increased 13.9% to $471.5 million over the prior year period, of which 1.7% was organic on a constant currency basis. Yes. the company was formed to provide reasonably priced high quality medicines to help to. What's different now is that practical business benefits are within reach. If you have an ad-blocker enabled you may be blocked from proceeding. Operating income was $248.5 million or 10.2% of revenue compared to $286.2 million or 12.6% in the prior year. 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. And just the only other point, Vince, I'll fall on to Shelley's comment. Digital's growth will accelerate in fiscal year '23 driven by increased adoption of CX Cloud Technologies muted by a continued turnaround within our Cisco practice and macro-driven LinkedIn sales cycles. So again, if you think about the metrics that we touched on back to Cassie's question, when you think about the 70-30 mix, and you think about our guidance next year or this year and for fiscal year '23 and you think of it as a 73.67 [ph] and 10 points of margin differential in the gross margin, that's kind of up the puts and takes, if you will, in terms of ups and downs relative to it because the expectation is still net expand, right, relative to it. Thank you to our #TTECemea team for all your hard work. Our purpose is to deliver humanity to business - and it's more relevant than ever before in today's environment. I would now like to turn the call over to Paul Miller, TTEC's Senior Vice President, Treasurer and Investor Relations Officer. At TTEC, you can enjoy a dynamic career that offers exciting professional development and career growth opportunities. We added 22 new client relationships in the fourth quarter and 93 for the full year 2022. Our full year normalized tax rate was 23% in 2022 versus 21.3% in the prior year, increase is primarily related to the change in tax regulation related to PSA [ph] a special economic zone within the Philippines, jurisdictional mix of income and a reduction in select international tax benefits. Pull back the curtain of some of the world's most iconic brands and you'll find the people and technology of TTEC. Like Ken, I'm very enthusiastic about the relevance of our CX solutions and the market demand for the outcomes we deliver. Digital segment revenue increased 4.2% to $123.4 million in the fourth quarter of 2022 of the prior year period, all organic. Just how are you looking at that overall dynamic here this year? Going forward, I would say the one major impact is going to continue as the step up. We're accelerating our efforts to expand our delivery and language footprint. 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 know you pointed out a few things in the quarter specifically, for example the DSOs. Our dynamic and inclusive culture is based on a set of values that guide our relationships with clients, their customers, and each other. 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. Do Not Sell or Share My Personal Information, We use cookies to help us offer you the best online experince. 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. In the short term, the decline in this sector is putting pressure on our margins. There's quite a bit of - we're very early days with not only where the technology is, but also where clients are. AI has the potential to turn these frontline knowledge workers into super agents by augmenting their skills with real-time insights and next best actions. 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. 69 TTEC reviews. Thank you, sir. That's great. There is a reason why we brought Shelly in intentionally did not bring in a BPO type person. Our TTEC Digital business has implemented some of the most complex enterprise CX cloud migrations at scale across every major platform. Is it predominantly organic and the team you're building sort of what - just give us some sense of that dichotomy that I don't think the market appreciates. And we've really been very intentional on focusing on verticals that we think are going to have the least amount of impact as the economy potentially slows down. The estimated additional pay is $12 per hour. This represents an increase of 13% over the prior year full period. Together, our two divisions (TTEC Digital and TTEC Engage) help brands make every interaction they have with a customerwhether its face-to-face, online, over the phone, on social media, or via a mobile appsimple, personal and exceptional! We're obviously very focused on the opportunities that Digital this idea of the distinct opportunities inside Digital and Engage as well. And as Dustin said, we're also expecting our clients outside the hyper growth sector to grow in the mid-single digits. I would say that it is going to be predominantly organic. Thanks for that clarity, Dustin. Currently, only about 20% of large enterprises have completed their CX migration to the cloud. I think that any of the M&A that we would be doing would be much more geared towards the strategic side in areas that would be benefiting more of the Digital business. The annual asset acquisition was the primary contributor to growth in the quarter and the full year, alongside increased volumes across our virtual and digital delivery capabilities, contribution from our EMEA region and select verticals, including health care and financial services, excluding the pandemic-related volumes. This call is being recorded at the request of TTEC. And absolutely, we have enterprise clients that we serve from an Engage perspective. Thank you. 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. Thank you, Paul. Thank you. He's already making an impact with our people, our clients and our partners. 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? 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. And then when we couple that with technology capabilities, that adds even more capability to turbo charge the relationship and to offer something that we think is unique in the marketplace. I don't want to suck up all the oxygen on the call. Turning now to our fourth quarter and full year 2022 segment results. 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. As a Permanent Talent Acquisition Specialist in Cebu City, you'll be a part of our team to deliver amazing talent in TTEC while you also #ExperienceTTEC, an award-winning employment experience and company culture.. What You'll be Doing. In this highly competitive marketplace, we're partnering with insurers to use analytics as a differentiator with just-in-time estimates and hyper personalized offers. Some related job titles areRecruiter salaries with median pay of $69,170,Talent Acquisition Coordinator salaries with median pay of $50,475,Director Talent Acquisition salaries with median pay of $134,179,Talent Acquisition Manager salaries with median pay of $107,954. Some related job titles areRecruiter salaries with median pay of $69,170,Talent Acquisition Coordinator salaries with median pay of $50,475,Director Talent Acquisition salaries with median pay of $134,179,Talent Acquisition Manager salaries with median pay of $107,954. How accurate is this most likely Total Pay range (base + additional) of $70K-$107K/yr? By creating this job alert, you agree to the LinkedIn User Agreement and Privacy Policy. In 2022, we added three new geographies to our operational footprint that now spans more than 20 countries. 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. I think that what - one of the things that is really important for the Street to understand is that we saw this self-made if you want to call it, recession coming quite some time ago. We feel really comfortable with where we are in the marketplace and the amount of business. Thank you, Ken, and good morning, everyone. Net debt increased $171.3 million to $810.2 million year-over-year primarily related to acquisition-related investments associated with the Fannie asset acquisition and capital distributions, partially offset by cash flow generation. Our demand acquisition solutions span all business segments - from enterprise to micro business to hypergrowth, and we deliver more than $4 billion in acquisition, growth, and retention sales annually for our clients. It seems like the revenue guidance is perhaps a wider band than we've seen in the past. We publicly launched our strategic partnership with Google, deepened our partnership with each of our core strategic CX technology partners, including the largest hyperscalers, we strengthened our first-mover advantage in AI with strategic investments in new offerings and several new client wins.

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