Examine individual changes

'{{short description|Business services company headquartered in Fremont, California, US}} {{Multiple issues| {{COI |date= January 2017}} {{buzzword|date=June 2017}} }} {{Use American English|date=February 2020}} {{Use dmy dates|date=February 2020}} {{Infobox company | name = Concentrix | logo = Concentrix logo.svg | type = [[Public company|Public]] | traded_as = {{NASDAQ|CNXC}} | ISIN = US20602D1019 | predecessor = | successor = | founder = | defunct = | fate = | area_served = Worldwide | key_people = Christopher Caldwell<ref>{{cite web|title=Corporate Leadership Team|url=https://www.synnexcorp.com/corporate-leadership-team/|publisher=Synnex|date=26 November 2019}}</ref> ([[CEO]]) | industry = [[Business services]] | genre = | products = | services = | revenue = {{Increase}} $4.7 Billion(2019)<ref>https://www.prnewswire.com/news-releases/synnex-corporation-reports-fiscal-2019-fourth-quarter-and-full-year-results-300984591.html#:~:text=Concentrix%3A%20Revenue%20was%20%244.7%20billion,in%20the%20prior%20fiscal%20year.</ref> | operating_income = | net_income = | aum = | assets = | equity = | owner = [[Concentrix Corporation]] | num_employees =45,000 | parent = | divisions = | subsid = | footnotes = | foundation = {{Start date|1983}} | location_city = [[Fremont, CA]] | location_country = [[United States]] | locations = | homepage = {{URL|https://www.concentrix.com}} }} '''Concentrix''', an American [[business services]] company specializing in customer engagement and business performance. Concentrix was a subsidiary of [[SYNNEX|SYNNEX Corporation]] (NYSE: SNX) since 2006 and went public as an independent company on Dec 01 2020, trading on NASDAQ as CNXC. <ref>{{Cite web |url=http://ir.synnex.com/annuals-proxies.cfm |title=Archived copy |access-date=11 October 2016 |archive-url=https://web.archive.org/web/20161012080059/http://ir.synnex.com/annuals-proxies.cfm |archive-date=12 October 2016 |url-status=dead }}</ref> Concentrix is headquartered in [[Fremont, California]]. Concentrix provides services within 10 industries: Automotive, Banking and Financial Services, Consumer Electronics, Energy and Public Sector, Healthcare Services, Insurance, Media and Communications, Retail and eCommerce, Technology, and Travel, Transportation and Tourism.<ref>{{Cite web | url=https://www.concentrix.com/about/locations/ |title = Locations}}</ref> == History and acquisitions == Concentrix was founded in 1991, its heritage can be traced back to 1973 to its insurance administration business [[Problem solving|solutions]] and services which were acquired in 2013 by Concentrix from IBM.<ref>https://www.bloomberg.com/Research/stocks/private/snapshot.asp?privcapId=1051101</ref> Concentrix has grown through multiple acquisitions bringing on board eight companies since 2006. Two of the acquisitions that are especially notable include the IBM Worldwide Customer Care Services Business(known as IBM Daksh) and the Minacs Group Pte. In 2020 Concentrix hit an all time high in recruitment. They took on a cracking group of rapscallions called 'The A Class'. This group is best known for being BT's best assets in keeping the company together. During their short time at Concentrix The A Class have already turned the company around. Their dedication to the company is unparalleled and to be quite honest each and every one of them deserve a raise. The smoking shelter is their local hookup so if you ever need to have a chat with them you will most likely find them there. However approach with caution as they are very territorial beings and would protect their home (concentrix) with their life. On October 5, 2018, Convergys Corporation and Synnex announced that they have completed the merger.<ref>{{cite web |title=SYNNEX Corporation Completes Transaction with Convergys Corporation|url=https://newsroom.convergys.com/press-release/synnex-corporation-completes-transaction-convergys-corporation |website=convergys.com |accessdate=October 5, 2018 |language=en}}</ref> === IBM Worldwide Services Business === On September 12, 2013, SYNNEX paid a purchase price of $505 million, consisting of approximately $430 million in cash and $75 million in SYNNEX common stock. Concentrix added 45,000 employees. The acquisition included adding over 300 clients delivering services in more than 40 languages through 50 delivery centers on six continents.<ref>{{Cite web |url=http://ir.synnex.com/releasedetail.cfm?releaseid=789947 |title=Archived copy |access-date=25 October 2016 |archive-url=https://web.archive.org/web/20161026000446/http://ir.synnex.com/releasedetail.cfm?releaseid=789947 |archive-date=26 October 2016 |url-status=dead }}</ref> === Minacs Group === On August 2, 2016 SYNNEX announced completion of the acquisition of The Minacs Group Pte with closure on September 1, 2016.<ref>{{Cite web | url=https://www.concentrix.com/concentrix-acquires-minacs/ | title=SYNNEX to acquire the Minacs Group Pte LTD. And integrate with Concentrix| date=2016-07-11}}</ref> === Advanced analytics capabilities === Includes Voice of the Customer Analytics (VOCA) for unstructured content analysis, performance scorecards, call centre analytics, call volume forecasting, operational analytics, agent optimization; IVR analytics; Text Analytics; web analytics customer life time value, revenue enhancement, and other analytics capabilities. === "Digital First" and multi-channel enablement === Voice, self-service, Interactive Voice Response (IVR), SMS, chat, mobile & smartphone support, web & social media, mail, fax and face-to-face integration (branch/store/office) === Technical and product support === Technical support, help desk, product activation, warranty service, service scheduling, and field support. === Collections === Axis Bank Collections portfolio at Mumbai, Bangalore and Noida in India. Responsible for collections of loan and credit card delinquent customers. === Sales === Lead generation, customer inquiry, promotions, multi-channel sales, product inquiry and demonstration, up-sell and cross-sell, negotiate and close, win-backs business-to-business sales support.{{citation needed|date=June 2017}} === Service === Account management, customer care, problem and dispute resolution, correspondence management, and billing management. === Marketing === Lead management, campaign management, list generation, customer segmentation, customer profitability, market segmentation, product profitability, channel performance, prospect analysis, market analysis, and business unit analysis Concentrix runs these services as part of an integrated global delivery network with centers located on six continents. Concentrix supports multiple communication channels that include voice, chat, email, SMS, and social media. Concentrix provides systems for administration of life and health insurance products, tools for front-office engagement and process and operations enhancement through analytics, consulting for transformation, market optimization tools for enhancing the end-to-end customer life cycle, and focus on market optimization tools, digitalization and automation that includes Internet of Things (IoT), and Telematics business [[solution]]s.{{citation needed|date=June 2017}} == Controversies == In 2014, Concentrix won a £75 million contract from the UK's tax authority, the [[HMRC]], to review two million tax credit claims for fraud and incorrect tax credit awards.<ref>{{cite news|title=HMRC chief Jon Thompson confirms US firm Concentrix won't have tax credits contract renewed |url= http://www.civilserviceworld.com/articles/news/hmrc-chief-jon-thompson-confirms-us-firm-concentrix-wont-have-tax-credits-contract|accessdate=30 September 2016|date=14 September 2016|publisher=Civil Service World}}</ref> [[Working tax credit|Tax credits]] are a form of UK social welfare benefit paid out to parents and workers on low incomes. In 2016, Concentrix was receiving heavy criticism from the cross-party parliamentary committee on welfare for incorrectly closing the claims of tens of thousands of claimants, leaving them without money for essentials.<ref>{{cite news|title='Reign of terror' tax credit company loses HMRC|url= https://www.theguardian.com/money/2016/sep/13/reign-of-terror-tax-credit-company-loses-hmrc-contract|accessdate=27 September 2016|date=13 September 2016|publisher=The Guardian}}</ref> A government report disclosed that of 36,000 appeals against Concentrix, 87% were upheld.<ref>{{Cite news|url=https://www.bbc.co.uk/news/business-38873311|title=Concentrix tax credit cases to be reviewed, government says|date=2017-02-06|newspaper=BBC News|access-date=2017-02-06|language=en-GB}}</ref> In September 2016, the HMRC announced that it would not renew the contract, due to expire in 2017, although the Treasury has resisted calls for a full inquiry thus far.<ref>{{cite news|title=Treasury refuses to hold inquiry into Concentrix tax credits contract |url= https://www.theguardian.com/politics/2016/sep/14/treasury-refuses-to-hold-inquiry-into-concentrix-tax-credits-contract|accessdate=27 September 2016|date=14 September 2016|publisher=The Guardian}}</ref> As a result of Concentrix's failings, thousands of claimants are also due to receive back-payments for incorrectly stopped claims.<ref>{{cite news|title=Thousands due back-dated tax credit payments after HMRC contractor blunders|url= https://www.independent.co.uk/news/business/news/tax-credit-back-payments-hmrc-concentrix-mistakes-a7309746.html|accessdate=27 September 2016|date=15 September 2016|publisher=The Independent}}</ref> Processing the resultant case reviews cost HMRC £43 million.<ref name=publictechnology-20171112>{{cite news |url=http://www.publictechnology.net/articles/news/calamitous-concentrix-cost-hmrc-%C2%A338m-treasury-documents-reveal |title=Calamitous Concentrix cost HMRC £38m, Treasury documents reveal |last=Dunton |first=Jim |newspaper=Public Technology |date=12 November 2017 |accessdate=9 April 2018}}</ref><ref>[https://www.abc.net.au/news/2018-12-06/centrelink-contractor-concentrix-cut-thousands-off-welfare-in-uk/10586274 Centrelink contractor Concentrix wrongly cut thousands off welfare in the UK] ''ABC News'', 6 December 2018. Retrieved 6 December 2018.</ref> ==References== {{Reflist}} ==External links== * {{Official|https://www.concentrix.com}} {{Finance links | name = Concentrix | symbol = CNXC | reuters = CNXC.O | bloomberg = CNXC:US | sec_cik = CNXC | yahoo = CNXC | google = CNXC | nasdaq = CNXC }} {{authority control}} [[Category:Business services companies of the United States]] [[Category:Companies based in Fremont, California]] [[Category:Companies established in 1991]] [[Category:1983 establishments in California]] [[Category:Companies listed on NASDAQ]] [[Category:Corporate spin-offs]]'