Ford and TeleTech Form Joint Venture to Unite Ford's Global Customer Contacts
16 November 1999
Ford and TeleTech Form Joint Venture to Unite Ford's Global Customer Contacts
DENVER, and DEARBORN, Mich., Nov. 16 -- Ford Motor Company
and TeleTech Holdings, Inc. today announced they
intend to form a joint venture to consolidate Ford's customer contact services
around the globe. The announcement was made today by Ford CEO Jac Nasser and
TeleTech Chairman Ken Tuchman.
The joint venture will help Ford develop a strong consumer memory and meet
rising consumer expectations by allowing customers to contact Ford at their
convenience, around the clock -- whether by telephone, e-mail or other
Internet access options. The new company will consolidate Ford's current
worldwide network of customer-contact centers under a single partner with an
integrated central database that ultimately will enhance customers' total
relationship with Ford Motor Company.
TeleTech is a global provider of e-commerce-enabled customer relationship
management services that utilize the full spectrum of communication options
from voice to Internet under a common platform.
Ford will hold a minority share of the new venture but will have equal
representation on the venture's board of directors.
"We'll be establishing a whole new standard for customer service that is
based on building long-term customer relationships," said Brian Kelley, vice
president of Ford Motor Company and president of Ford ConsumerConnect, the
global e-commerce group that will oversee the new venture. "Through lasting
relationships with our customers, we expect to learn more about their wants
and needs. As Ford continues to provide a wider array of products and
services, we're determined that our customer services will stay ahead in
speed, quality, and responsiveness."
"We're especially excited to be undertaking this joint venture with
TeleTech because it has a proven global record and is best in class in its
core competency -- customer relationships," said Robert L. Rewey, Ford Motor
Company's group vice president of marketing, sales and service. "This is
another step in implementing our global plan for connecting consumers to Ford
Motor Company."
"This is an exciting opportunity for our company to work with the most
forward-thinking automotive company in the world," said Scott Thompson,
TeleTech president and chief executive officer. "In the next millennium,
companies will succeed by creating lifetime customer relationships and
loyalties. This is TeleTech's business.
"We believe that this joint venture with Ford will break new ground in
building customer relationships and insight. Our expertise is fulfilling
customer-interaction needs for our corporate partners, which includes
providing 'live' customer care over any media. Our Cybercare technology
platform is designed to provide real-time access to information and support
through a variety of channels -- just what today's customer is demanding."
"We believe our new joint venture is unique, not only to the automotive
industry, but to the customer-contact industry as well," Kelley said. "Most
importantly, consumers will be the big winner with this new venture. Once the
venture is up and running consumers will be able to contact Ford Motor Company
24 hours a day, seven days a week by e-mail, phone, fax and, of course by
letter. Our system will permit collaborative browsing -- with both customer
and the company representative simultaneously viewing the same screen. All
company data relating to the customer's total sales, service and ownership
experience will be available and can be discussed with a single contact. For
example, a customer could expect to get information about both a new vehicle
purchase and a lease payment with a single interaction. Ultimately, the
system will provide consumers a direct method of connecting with Ford
engineers and other company personnel," Kelley added.
The new joint venture is expected to be formed during the first quarter of
2000.
Founded in 1982, TeleTech is a leading provider of integrated, e-commerce-
enabled customer management solutions for global organizations predominantly
in the telecommunications, financial services, technology, government and
transportation industries. Its innovative customer interaction platform,
Cybercare, integrates the full spectrum of voice and Internet communications,
including custom e-mail response, "chat" and extensive Web co-browsing
capabilities. Through 29 customer interaction centers in the Americas, Europe
and Asia, TeleTech couples a high-velocity electronic infrastructure with
premier customer relationship management to assure its clients and partners
unparalleled success in acquiring, retaining and building customer
relationships.
Ford Motor Co. is the world's largest producer of trucks and the second-
largest producer of cars and trucks combined, marketing and selling
approximately 7 million vehicles globally through its seven brands last year.
Ford Motor Co. employs approximately 354,000 people in plants, offices and
laboratories to serve consumers in more than 200 countries and territories.
Ford Motor Co. is also one of the largest providers of financial services
worldwide through 2,400 branches in 33 countries.
DISCLAIMER -- FORWARD LOOKING STATEMENTS
Statements in this press release that are not historical facts constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are inherently
subject to risks and uncertainties that could cause actual results to differ
materially from expectations. Factors that could cause actual results to
differ from expectations include:
Although Ford and TeleTech have entered into a preliminary agreement and
are negotiating definitive agreements, there can be no assurance that they
will reach such definitive agreements; and there can be no assurance that the
joint venture's service offering will be accepted by its customer base; and
costs associated with the joint venture may be higher than anticipated.
In light of these risks, uncertainties and assumptions, the forward-
looking events discussed herein might not occur.