Freshworks nets $100m in revenue - ITREALMS Online

ITREALMS:

Acclaimed global leader in customer engagement software, Freshworks, has said it reached a revenue milestone by crossing $100 million in annual recurring revenue, reports ITRealms.

This development, ITRealms gathered, was led by its flagship support product for Customer Support Software, Freshdesk and continued rapid growth with its Freshservice (IT Service Management Software) and Freshsales (CRM Software) products over the last several quarters.

ITRealms also gathered that this achievement was fueled by Freshworks’ ever-expanding user-base of more than 150,000 businesses and organizations world-wide, including both larger enterprises such as Honda, Bridgestone, Hugo Boss, University of Pennsylvania, Toshiba, Cisco, Veeva, OfficeMax, M&C Saatchi and thousands of global SMB customers. 

In addition, the company reports that over the past year, it has expanded portfolio of products to include Freshchat, Freshcaller, Freshmarketer and Freshteam, a set of products designed to work together to help marketers, human resources and support professionals engage with customers and work together more effectively. 

On the heels of this milestone, Freshworks also announced the immediate availability of Freshworks 360, a fully integrated cloud bundle that brings together sales, marketing, and support applications to provide users with a full, easy-to-use customer engagement experience. 

Products contained within Freshworks 360 include Freshdesk, Freshsales, Freshmarketer, Freshcaller (call center software) and Freshchat (customer messaging software), providing an easy way for users to access the entire history of customer conversations, data and marketing touchpoints such as chats and social media mentions. Current users of any Freshworks application can now access free trials of all the platform’s offerings from their existing Freshworks login using the Freshworks Switcher.

Chuks Egbune/ED, Ops

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Freshworks delivers Artificial Intelligence-powered experiences

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Against a background where market disruption is key to creating new opportunities, Freshworks has embraced Artificial Intelligence (AI) to help keep their clients relevant, competitive and profitable, reports ITRealms. Having identified Twitter as a key channel through which customers often engage companies, Freshworks has developed a social AI entity called Social Signals. This AI tool helps filter relevant and important messages from the volume of Twitter messages that may be directed at any one company. Social Signals works by going through a company’s entire feed, where it understands and filters out tweets asking for help. These tweets are then converted to a task for a customer support agent to remedy, while disregarding all other tweets. By filtering tweets, the Social signals AI seamlessly enhances Freshworks’ cloud-based engagement platform, Freshdesk. This integration empowers businesses of all sizes with the kind of next-generation customer experience and innovation that modern society demands. To further refine the effectiveness of Social Signals, support agents can train the AI to recognize new types of communication thus improving its learning, resolution and decision-making skills. In an extensive research, Freshworks found that smart automated programs called chatbots, responded to a significant 40% of questions asked through Freshdesk. Furthermore, chatbots could dramatically improve the quality of exchanges between customers and support agents. This was achieved by the chatbots requesting basic information first to collect necessary customer data. Significant benefits from time and cost savings were also recorded with increases of 15% to 20% more customers being helped. Arihant Jain, Business Head - Middle East & Africa at Freshworks commented, “AI has immense potential to add real value to the customer experience journey irrespective of the industry. However, AI must be viewed as a complement rather than as a replacement for people. This is something we are passionate about at Freshworks, where we look to technology to combine the ingenuity and efficiency of automated solutions with the irreplaceable empathy of the human touch. Freshworks prides itself in offering its growing number of customers and partners, solutions that enhance their service offering without negatively impacting the bottom line.”

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