Nice
NICE
shares have lost 36.8% year to date due to macroeconomic challenges like rising inflation and recession due to rising interest rate hikes.
However, NICE shares have outperformed the Zacks
Internet Software
industry’s decline of 61.3% over the same period. The outperformance can be attributed to the strong demand for its cloud-based and AI solutions.
Nice has recently been awarded the Customer Experience Innovation award by TMC, a global, integrated media company, and the CUSTOMER Magazine for its Enlighten AI for customer satisfaction (CSAT) solution.
NICE’s CSAT solution is a machine learning and AI solution that automates scoring the agent behaviors, positively impacting customer satisfaction in real-time, reducing the time-consuming methods used during manual assessment of agents and poorly reflecting on client management.
NICE recently won the “Anti-Fraud Product of the Year” award for its Actimize product by Risk.net. Actimize has been winning customers frequently. Its advanced cloud SURVEIL-X Markets Surveillance solution was recently selected by Olivetree Financial to enhance its financial crime strategy, monitor market abuse and keep pace with regulatory changes.
NICE’s recent accolades reflect how its robust portfolio is driving revenue growth for the coming quarters.
NICE’s Portfolio Strength Driving Top-Line Growth
NICE’s various platforms like CXone, Evidencentral, Inform Elite, Robotic Process Automation and Investigate have been gaining traction in recent times.
CXone has become an important solution for NICE. NICE partnered with
Alphabet
GOOGL
and
BCE
BCE
, aiding in the growing adoption of CXone.
NICE entered a partnership with Google. Per the agreement, NICE’s AI-powered CXone was integrated with Google Cloud’s Contact Center Artificial Intelligence applications to make self-service bots and agent-facing virtual assistants more effective.
Previously, BCE, Canada’s largest communications company, entered an agreement with NICE to expand access to its CXone for Contact Center as a Service in the country.
NICE’s Evidencentral has been gaining traction in recent times. Recently, Evidencentral’s Justice was chosen by the Lancaster and Yolo County District Attorney’s Offices.
In July, NICE announced that selected solutions from the Evidencentral platform were chosen by multiple agencies from Washington state, including a county Sheriff’s Department, Prosecutor and Assigned Council Offices, and Superior Court.
Nice currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
In March, NICE announced that its next-generation NTR-X solution is available for compliance recording capture for communications via
Zoom
ZM
, including Zoom Meetings and Zoom Phone.
NICE collaborated with Zoom to create and utilize new APIs for financial markets’ compliance recording.
The expanding availability of NICE products on different platforms is helping the company win customers frequently, which will drive its top-line growth in the coming quarters.
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