Medallia, Inc., a global customer and employee experience provider, announced the acquisition of Mexico-based customer experience consultancy CXTeam on Apr. 21, 2022.
This move will allow Medallia to continue the expansion of its Latin American presence. Throughout their partnership, CXTeam has been instrumental in dozens of Medallia deployments across the Americas.
Related Article: Zoom Announces Customer Experience Platform Innovations
Identifying Insights, Influencing Performance
Medallia provides solutions for customer, employee, citizen and patient experience management. The company's award-winning SaaS platform, Medallia Experience Cloud, is becoming the experience system of record that influences all other applications.
The platform captures billions of signals from various contact points, including audio, video, digital, Internet of Things (IoT), social media and business communications.
Medallia uses AI and machine learning to automatically identify expected insights that may have a significant influence on an organization's performance. One of Medallia's key aims for its clients is to reduce customer attrition, as well as to convert detractors into promoters, provide cross-sell/upsell opportunities and drive revenue-impacting business decisions.
Related Article: How to Optimize CX Strategies for Different Generations
Expanding an Existing Partnership
“CXTeam provides world class companies operating in Latin America with customer experience training, strategy design, native language services and implementation, as well as numerous business consulting services," said Alex Glanz, SVP, Growth Strategy and Insights at Medallia. He added that its depth of expertise across Medallia's suite of solutions pairs well with its customer-centric approach to advertising and consulting customers.
"Acquiring CXTeam is an excellent opportunity for Medallia to bring in a really seasoned leadership team and accelerate the adoption of our platform in a vital area," said Leslie Stretch, CEO and President of Medallia. "CXTeam has been a fantastic partner throughout the years, and I am excited to take this next step with them."
Previous to this acquisition, Medallia had a long and strong partnership with CXTeam. Medallia clients and employees will be able to reap the advantages of the merger immediately.
Stretch added that "with CXTeam's extensive knowledge and experience, we can assist more firms in using Medallia Experience Cloud to achieve quicker ROI."
Medallia released the Medallia Experience Cloud in 2019, a software-as-a-service platform that uses proprietary AI technology to capture experience signals generated from in-person, digital and IoT engagements. The platform:
- Provides data (80% of which is non-survey data) to get a full perspective of customer and employee experiences
- Uses AI to find and prioritize the most critical customer and staff problems via the analysis of comments and feedback, allowing brands to select the best action for each touchpoint and journey
- Can integrate with other digital marketing tools, allowing for a cohesive and consistent experience across channels
Before the acquisition of CXTeam, Medallia's most recent (and biggest) purchase was Thunderhead, a business technology for real-time interaction management and journey orchestration. Thunderhead improves Medallia's capacity to enable personalized experiences and dialogues at scale across all online and offline channels, assisting thousands of clients in increasing brand loyalty, revenue and growth.