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      An Analyst Upgrade Drove The TTEC Stock Higher On Friday

      By Fahim Awan

      Published on

      November 13, 2023

      2:01 PM UTC

      An Analyst Upgrade Drove The TTEC Stock Higher On Friday

      TTEC Holdings, Inc. (NASDAQ: TTEC) witnessed a notable surge of 8.82% in its stock value during the standard trading session on Friday, reaching $16.66. This upswing in TTEC’s market performance can be attributed to a commendation upgrade by Barrington Research. The analyst firm elevated its recommendation for TTEC stock from “Market Perform” to “Outperform” on Friday, maintaining the target price at $18.

      The subsidiary of TTEC Holdings, TTEC Government Solutions, recently secured a significant contract aimed at modernizing the customer experience across various federal agencies in collaboration with the U.S. General Services Administration (GSA). Operating through TTEC Digital, the company will deliver consulting and advisory services to federal agencies under GSA’s purview.

      The contract, named Centers of Excellence (CoE) Contact Center Support, was granted by the GSA Technology Transformation Services Office of Acquisition to facilitate the modernization of user experiences and operational efficiency. Notable agencies benefiting from this initiative include the Department of Agriculture, Department of Housing and Urban Development, and Consumer Product Safety Commission.

      Drawing upon a 40-year legacy of managing contact centers for numerous clients, TTEC Digital’s consulting practice boasts extensive expertise in CX (customer experience) strategy, operations, and technology. In addition to enhancing the CoE’s existing capabilities, the company will deliver an unparalleled customer experience for GSA and its partners.

      TTEC Digital’s approach allows GSA to tap into the company’s diverse talent pool, tailoring guidance, support, and recommendations to meet the unique needs of each partner agency. Going beyond advisory services, TTEC Digital brings proficiency in Generative AI, Chatbots, and Voicebots, applying AI advancements in Training, Knowledge Management, Talent Acquisition, and Retention to ensure experiences that align with those in commercial markets.

      In response to the White House’s December 2021 executive order mandating federal agencies to enhance customer experiences, TTEC Digital stands poised to assist GSA in achieving these objectives. Leveraging its distinctive capabilities to design, build, and deliver exceptional CX, TTEC Digital aligns with the directive to facilitate straightforward, seamless, and secure interactions between the public and the government.

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