February 23, 2022

Zoom Introduces Category-Redefining Contact Center Solution

Zoom Contact Center sets new standards for customer service experiences through omnichannel, video-optimized interactions

SAN JOSE, Calif., Feb. 23, 2022 (GLOBE NEWSWIRE) — Today, Zoom Video Communications, Inc. (NASDAQ: ZM) announced Zoom Contact Center, an omnichannel contact center solution that is optimized for video and integrated right into the same Zoom experience. Now available, Zoom Contact Center, previously Zoom Video Engagement Center, combines unified communications and contact center capabilities with the useability of the Zoom platform. Zoom Contact Center supports customer service use cases and workflows using channels like video and voice, with SMS and webchat currently in beta.

The Zoom platform is powering the future of communications beyond meetings with unified communications, the Zoom Developer Platform, Zoom Events, and now Zoom Contact Center. These innovations – and there are many more – were created with the same level of scalability and simplicity that has made Zoom the trusted platform for more than a half-million businesses worldwide.

Innovation Through Video
Zoom Contact Center will have over 100 agent, supervisor, and contact center administrator features at launch. Future investments will include additional channels, CRM and workforce management integrations, and AI/ML to optimize agent productivity. At launch, Zoom Contact Center will extend traditional capabilities typically optimized for voice to provide a unique end customer experience through channels like video.

“Zoom understands the importance of bringing together UC and multichannel contact center into the same experience,” said Blair Pleasant of BCStrategies. “Zoom is known for great video, which is important for high-touch customer scenarios and internal use cases like IT help desk, employee helpline, and revenue-generating activities. But the fact that Zoom Contact Center supports routing, additional channels, and the agent functionality organizations need, means that Zoom Contact Center could become the modern contact center solution of choice.”

Enabling Connected Work From Anywhere
Contact center agents are frequently tied to physical contact center locations, and if able to work remotely, often still need to navigate multiple communications tools. Zoom Contact Center streamlines inefficiencies by bringing communications into one central hub. In addition to helping end customers with a rich agent experience, agents can collaborate with peers, supervisors, or other employees right in Zoom Chat and channels. Unified communications and contact center together empowers agents to be more productive from any location while feeling connected to the larger organization.

“Previously, contact center infrastructure was complex to deploy, expensive to operate, and time-intensive to upgrade. Zoom Contact Center was carefully designed to meet the needs of the modern agent and end customer, both of which expect a personalized, digital, and effective contact center experience,” said Oded Gal, Chief Product Officer of Zoom. “I am pleased to announce the general availability of Zoom Contact Center, building upon the reliable Zoom platform model and bringing the experiences our customers know and love to yet another industry.”

Ensuring Ease of Deployment and Use
Zoom Contact Center is simple for administrators to configure and deploy, including a graphical drag-and-drop IVR designer. Contact center administrators can easily create menus, greetings, and prompts right in the same Zoom Admin portal. Zoom Contact Center can also integrate chat and video into an existing digital presence, like a website, helping organizations have conversations with customers in the right context and at the right time.

“Our members trust us with their most privileged information, so when they need support, it is our responsibility to provide them with the expertise First Federal Credit Union is known for,” said Chris Neal, Senior Vice President Operations of First Federal Credit Union. “With Zoom Contact Center, our contact center supervisors have the ability to organize service representatives based on skills, so when a member reaches out, we can now route their inquiries directly to experts that are equipped to handle their unique needs. A process that would previously require multiple service representatives can now be accelerated and streamlined into a single conversation. We’ve seen our overall call time and pick-up time improve significantly as we provide more efficient resolution and a better experience for our members.”

Customer choice is an essential value of the Zoom platform. In addition to Zoom Contact Center, Zoom intends to maintain its valued existing contact center partnerships.

Zoom Contact Center is now available in the U.S. and CA, with more international availability coming later this year. To learn more about Zoom Contact Center, please visit the Zoom Contact Center page and read our blog.

About Zoom
Zoom is for you. Zoom is a space where you can connect to others, share ideas, make plans, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

Press Relations
Farshad Hashmatulla
Product PR Manager
press@zoom.us

February 23, 2022

McKinsey & Company’s Global B2B Pulse Reveals the New Growth Equation

B2B customers want more channels, more convenience, and more personalized experiences, with 20 percent of B2B decision makers willing to spend between $500,000 and $5 million USD on a single remote or self-service transaction

NEW YORK and LONDON, Feb. 23, 2022 (GLOBE NEWSWIRE) — McKinsey & Company’s latest Global B2B Pulse shows that after two years of nearly nonstop business disruption, the consumerization of B2B commerce has arrived as companies flex their omnichannel muscle to move at the speed of their customers.

B2B customers are adopting buying habits from the B2C space, rewarding personalization and omnichannel experiences with high-ticket remote and self-service purchases and loyalty. One in five (20 percent) B2B decision makers are now willing to spend between $500,000 and $5 million on a single interaction on remote or self-service channels. This accompanies exponential growth in sellers’ satisfaction with omnichannel sales models (i.e., face-to-face, remote, and ecommerce interactions) to reach and serve customers: 70 percent of B2B decision makers say their sales model is now more effective, up from 27 percent in April 2020.

In analysis of responses from nearly 3,500 decision makers in 12 markets across the world, clear trends have emerged. At the core is one consistent pattern: B2B customers want omnichannel all the time, with more channels, more convenience, and more personalized experiences.

Be where the customers are
B2B buyers want in-person, remote (e.g., video conference), and self-service (e.g., e-commerce) channels in equal measure. This “rule of thirds” for B2B sales is entrenched as a universal truth. But, for those who break the mold are leaving customers and sellers unhappy. In France and Japan, which have not kept pace with the omnichannel wave, sellers are far less pleased with their sales performance than their peers in other markets. Overall, only 43 percent of France’s and 44 percent of Japan’s B2B leaders say omnichannel is equally or more effective than before COVID-19, compared with 83 percent in Brazil, 82 percent in China, 80 percent in India, and 73 percent in the US.

More channels, more growth
The rise of omnichannel has redefined the customer experience as customers seamlessly engage across ten or more channels to interact with suppliers across the buying journey. This is a jump from five channels in 2016 and 7.5 channels in 2019. The more channels companies offer, the greater their market-share growth. Nearly three-quarters (72 percent) of B2B companies that sell via seven or more channels grew their market share.

With loyalty up for grabs, it’s time to act
Loyalty remains elusive, but this presents an opportunity for swift action. Nearly 80 percent of B2B customers globally say that a performance guarantee, including a full refund if a certain performance level is not met, is critical for brand loyalty. Other must-dos include showing product availability online, enabling purchases over any channel, providing real-time customer service, and offering a consistent experience as buyers toggle between channels. Although customers’ heightened openness to switching sharply escalates churn risk, it also presents B2B companies with an opportunity to acquire new customers.

A higher return on personalization
Many B2B companies say they engage in some form of personalization, but performance varies. Sellers that offer the most tailored, one-to-one outreach are 1.7 times more likely to have gained market share than those pursuing only moderate personalization efforts.

Marketplaces are the next gen for the next-gen leaders
Respondents who indicate that their companies have built their own online marketplace are almost twice as likely to report a gain in market share as those who say their companies did not build a marketplace.

Jennifer Stanley, Partner, McKinsey & Company:
“Over the last two years, B2B companies have sprinted to rewire and build new customer-centric, omnichannel capabilities. With the consumerization of B2B commerce, the bar is now even higher. B2B leaders should anticipate trends and behaviors and respond accordingly to drive customer value, reinforce loyalty, and unlock sustainable growth.”

For more insights, see the full report.

The Global B2B Pulse surveyed nearly 3,500 B2B decision makers in December 2021 across 12 markets around the globe and in major industries, from tech to industrials to finance (and 21,000+ decision makers since 2016).

About McKinsey & Company
McKinsey & Company is a global management consulting firm committed to helping organizations realize sustainable, inclusive growth. We work with clients across the private, public, and social sectors to solve complex problems and create positive change for all their stakeholders. We combine bold strategies and transformative technologies to help organizations innovate more sustainably, achieve lasting gains in performance, and build workforces that will thrive for in this generation and the next.

About Marketing & Sales, McKinsey & Company
The mission of the McKinsey Marketing & Sales Practice is to help leaders of both consumer and business-to-business clients create Growth that Matters through meaningful transformations and marketing-driven profit. The practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today’s omnichannel opportunities. Clients benefit from McKinsey’s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, pricing, e-commerce and sales and channel management.

For more information, please contact
US media contact: MaryLiz Ghanem, Digennaro Communications, McKinsey-DiGennaro@digennaro-usa.com, +1 917 518 8422

UK media contact: Ruth Jones/Becca Ross, 3THINKRS, mckinsey@3thinkrs.com, +44 0208 0872843

February 23, 2022

ibex Celebrates 5-Year Anniversary of ibex Cares with More Than $250,000 in Donations Earmarked for Local Charities in 2022

Philanthropic program gives back to local communities worldwide

ibex Celebrates 5-Year Anniversary of ibex Cares.

WASHINGTON, Feb. 23, 2022 (GLOBE NEWSWIRE) — ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, is celebrating the 5-year anniversary of ibex Cares, the company’s global philanthropic program that supports local communities where the company operates. This year, the program will be responsible for giving more than $250,000 in donations to local charities and causes.

ibex is committed to meaningfully investing in its employees and the communities where they live and work. Employees themselves choose the local charities they want to support and strive to make a difference in the lives of the people closest to them—including friends, family members and co-workers.

ibex and its employees are also there to help their own when disaster strikes in local communities. Most recently, employees came together to raise more than $100,000 in support of storm victims affected by Super Typhoon Odette. ibex is matching that donation, providing an additional $100,000 to aid in the recovery. These funds will go to ibex team members in Bohol, Philippines who bore the brunt of Odette, suffering catastrophic losses to their homes and personal belongings.

Other ibex Cares initiatives around the globe include:

USA: ibex is actively investing in 10 charity outreach programs across the country, including Ronald McDonald House, the Humane society, Central Oregon Veteran Outreach, Relay for Life, and Sojourners Women’s and Children’s Shelter. This year, ibex is also working alongside the Make-A-Wish Foundation to support the effort of giving hope for the new year.

Pakistan: ibex is working with the Citizens Foundation in Pakistan to support their mission of creating low-cost schools. In the past they have worked with Akhuwat Foundation to support water conservation and are responsible for helping to educate 200 deaf children in Pakistan through Deaf Reach.

Nicaragua: ibex is supporting the Hogar de Ancianos San Antonio nursing home and employees are giving back through meaningful volunteer work for the elderly community.

Philippines: From helping underprivileged children with schooling to assisting employees when they face tragedy, ibex is focused on bolstering Filipino communities in need. Their annual contributions to schools in metro Manila and their internal outreach programs are unmatched.

Jamaica: ibex is partnering with the Jamaica Cancer Society to join the fight against breast cancer. They’re committed to supporting local Children’s Homes and have worked with Habitat for Humanity in recent times. Local teams are currently raising funds that will directly assist several of our own, as they walk the road to recovery.

Honduras: ibex is supporting Casa Hogar, a home for marginalized and vulnerable children and youth rescued from the urban streets of Honduras.

“At ibex we believe that each and every one of us is responsible for the footprint we make on the world,” said Paul Inson, Chief People Officer at ibex. “ibex Cares represents our commitment to adopting and maintaining business practices that hold us accountable, while leaving our operating areas better than we found them. These programs are actively managed and aligned with our goal to do things the R.I.T.E. Way—with Respect, Integrity, Transparency, and Excellence.”

About ibex
ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of 34 operations facilities around the world, while deploying next-generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthcare, fintech, utilities and logistics.

ibex leverages its diverse global team of over 35,000 employees together with industry-leading technology, including its Wave X platform, to manage nearly 200 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn and Facebook.

Media Contact:
Dan Burris
ibex
daniel.burris@ibex.co

Investor Contact
Daniel Bellehsen
ibex
Dan.bellehsen@ibex.co

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3c3ebf43-a1bf-4a48-8998-d70d1e9bb9ee

February 23, 2022

What Russian aggression in Ukraine means for Southeast Asia

Russia is attacking Ukraine, an act of aggression that could upend the global order. This is a clear violation of the sovereignty of a state, a central principle of international law.

Yet the response from across the capitals of Southeast Asia has been muted, despite the extremely dangerous precedent that it sets.

President Vladimir Putin’s goal is not to take over Ukraine. He wants a compliant government, like Belarus, that does Moscow’s bidding. He wants the political and diplomatic assets of having vassal states, without any of the liabilities of their underperforming economies.

In short, Putin is reviving the old Soviet concept of “limited sovereignty”: Great powers are sovereign, and weaker states have just a little less sovereignty. Should they not comply with the demands of great powers, they open themselves up to military and political intervention.

Where’s the concern in Southeast Asia?

Why have almost all states to date been so reticent on Russia’s buildup of up to 190,000 troops on the Ukrainian border; Foreign Minister Sergei Lavrov’s statement that “Ukraine has no claim to sovereignty”; Putin’s announcement that two breakaway regions of Ukraine are independent states; his preposterous deployment of “peace keepers”; and the waiting for a Ukrainian “provocation” as a pretext for a full-scale invasion?

A reliable weapons supplier

Unlike other countries where Russian dominance of energy markets can often buy diplomatic acquiescence, Russia provides little energy to Southeast Asia. Its economic ties to the region are paltry.

Russia’s total two-way trade with Southeast Asia is an estimated U.S. $25 billion. Russia barely ranks as a top-tier trading partner for any country in the region.

Vietnam – Russia’s largest regional trading partner in absolute value – still trades more annually with Cambodia. Russia has almost no foreign direct investment in the region, the largest being an offshore oilfield in Vietnam.

Moscow’s main source of leverage is the fact that it dominates the region’s arms markets with reliable and relatively cheap weapons systems that it will sell to any regime, no matter how odious or repressive their policies are.

Russia remains a key supplier to its traditional clients: Laos, Cambodia, and Vietnam. Russia has been central to Vietnam’s military modernization and has sold advanced submarines, warships, jet-fighters anti-ship and surface-to-air missiles. Vietnam produces a range of Russian equipment under license.

And of course, Russia remains a key supplier of weapons to Myanmar.

According to a new report by the United Nations, Russia has been the largest supplier of weapons to the junta since the Feb. 1, 2021 coup d’etat, exporting SU-30MK jets, YAK-130 light-attack jets, armored personnel carriers, and mobile air-defense systems. And they show no signs of letting up, despite the daily human rights abuses and intentional targeting of civilians.

In the early 2000s, Russia began selling fighter-jets to Indonesia and Malaysia, but it was unable to grow those markets. Indeed, perhaps from fear of sanctions, and perhaps because Moscow refused any barter agreement, the Indonesians recently announced two new arms packages worth over $20 billion, including jet imports, from France and the United States.

While Russia promised new weapons factories to the Philippines, which saw a 2016 U.S. Senate hold on weapons exports due to President Rodrigo Duterte’s war on drugs, little has been delivered. Beyond the purchase of a squadron of helicopters, the promise of other weapons sales has not materialized either.

Attempts to enter the Thai arms market, in the midst of two coup d’etats since 2006, have garnered only limited success. Since 2008, Thai imports from Russia have mainly been helicopters.

Russia has leverage over some Southeast Asian states, but certainly not all.

The MH-17 shootdown

The reticence is not new. Most countries in the region said little during Moscow’s 2014 invasion of Crimea and later aggression in the Donbas region of eastern Ukraine.

The only reason that Southeast Asia was at all pulled into the situation was the July 17, 2014 downing of Malaysia Airlines flight 17 by a Russian-made BUK surface-to-air missile that killed all 298 passengers and crew.

It defied any plausibility that irregular forces in Donbas had access to advanced missiles. Dutch investigators concluded that the missile was launched by Russian-led forces in rebel-controlled territory.

Russia continues to deny the allegations, spewing unfounded and baseless accusations that the plane was shot down by Ukrainian government forces. It has never accepted culpability or paid any restitution.

Tellingly, few in Southeast Asia showed any will to confront Russia over MH-17 or over its aggression against a state that all but Brunei had recognized since between January 1991 and June 1992.

ukraine ap.jpg Rules-based order under threat

The lack of a full-throated response from Southeast Asian capitals is striking.

At a G-20 meeting, President Jokowi spoke of the situation in Ukraine only in terms of something that could threaten the economic recovery caused by two years of a global pandemic. Indonesian Foreign Minister Retno Marsudi has spoken to Russian and Ukrainian counterparts in the past week, but has not said anything about the conversations.

Singapore issued perhaps the most forceful statement, demanding that “the sovereignty, independence, and territorial integrity of Ukraine must be respected.” Vietnam, a close partner of Russia, has said nothing.

With limited economic ties, limited political engagement, and geographical distance, Russia poses little in the way of an immediate threat to Southeast Asian nations.

Indeed, for the second year in a row, Russia wasn’t even mentioned in the well-respected annual ISEAS-Yusof Ishak Center survey of Southeast Asian elites, even as a potential threat to the rules-based order.

Yet, all the countries of Southeast Asia depend on international law, which is based on the concept of sovereign equality. Every country is threatened by a great power adopting a worldview based on a unilateral interpretation of shared history, language and culture.

This is not some remote conflict that has little bearing on Southeast Asian security. Attempts to upend the world order cut to the core of Southeast Asian security and prosperity. It is not a European security problem or part of Washington’s Great Power Competition.

On the contrary, this is something that creates a very dangerous legal precedent, especially for an assertive country like China that has repeatedly pushed for its own interpretations of international law, most clearly in the South China Sea.

China could easily apply the logic Putin that used to annul Ukrainian sovereignty to make sweeping claims to swaths of Southeast Asia; northern Vietnam was a Chinese province for 1,000 years, and parts of Myanmar, such as the Kokang region, are dominated by ethnic Chinese – just two examples.

We have already seen China publicly warn Southeast Asian states that “there are big states and there are small states,” as they threatened at a 2010 ASEAN meeting in Hanoi. There is clearly a parallel between the doctrine of limited sovereignty and China’s traditional “All Under Heaven” worldview and system of tributary states.

China will deny this. But while Putin’s actions may ultimately work against China’s long-term diplomatic and economic interests, for now, Beijing has clearly tied itself to Russian revisionism.

Sadly, most Southeast Asian states are likely to not take sides, avoiding another conflict that they fear could cause them marginal economic harm. Most of them will not join the European Union, the United States, Australia or Japan in imposing sanctions. They do so at their own peril.

Zachary Abuza is a professor at the National War College in Washington and an adjunct at Georgetown University. The views expressed here are his own and do not reflect the position of the U.S. Department of Defense, the National War College, Georgetown University or BenarNews.

February 23, 2022

Belgian Professional Football Club KMSK Deinze Enters Into a Strategic Partnership With DEA

The world’s first case of Web3 utilization by professional sports club management

Featured Image for Digital Entertainment Asset Pte. Ltd

SINGAPORE, Feb. 23, 2022 (GLOBE NEWSWIRE) — Digital Entertainment Asset Pte. Ltd. (DEA), a Singapore-based global GameFi platform company, announced today that it has entered into a strategic partnership with Deinze Football Club NV (KMSK Deinze), the group company of ACA Football Partners Pte Ltd (ACAFP). KMSK Deinze belongs to the second division in the Belgian Pro League.

The new initiative will allow KMSK Deinze to attract new sponsorship, which will be used to purchase NFTs, digital assets, and game items on DEA’s PlayMining gaming platform. It will also participate in DEA’s Play to Earn games as a gaming guild.

Gaming guilds are organizations that generate revenue from games by investing in and organizing NFTs for Play to Earn games. They are growing rapidly, especially in Southeast Asia, and are attracting attention as a new means of job creation and employment.

This partnership will allow KMSK Deinze to generate new sponsorship revenue and guild business revenue. DEA will also work together with KMSK Deinze to increase awareness of the game and its proprietary token DEAPcoin (DEP) in the European region.

The guild business is an attractive ESG investment for club sponsors, given its focus on creating new jobs and new forms of employment. Supporters who earn rewards through Play to Earn games are expected to channel those funds into club-related consumption, which could lead to the revitalization of the sports club economic sphere.

DEA plans to sponsor KMSK Deinze for the next season. As a strategic partner, it will work together with the club to create more comprehensive Web3 initiatives in the future. This will include the creation of an economic zone using Watch to Earn and fan tokens.
◆Comment from Mr. Hiroyuki Ono, CEO of ACAFP and Vice Chairman, Board of Director, KMSK Deinze
The city of Deinze, led by Mayor Jan Vermeulen, has been working on various measures to revitalize the city. When we thought about contributing to the community through football as a member of the community, we wanted to release the potential of football following the most cutting-edge trend of the times. We endorsed the mission of DEA, which advocates social contribution through GameFi. We look forward to working with Mr. Yoshida and the rest of the creative team at DEA.
◆Comment from Naoto Yoshida, CEO of DEA
I respect KMSK Deinze, a football club with a long history, for their bold challenge in the Web3 space. I am convinced that building an economic zone using Play to Earn will be a sustainable and effective approach to promoting sports culture. We look forward to working with Deinze to set a great precedent.
About KMSK Deinze
Founded in 1926, KMSK Deinze is a historic football club belonging to the second division of the Belgian Pro League/First Division B. The city of Deinze, the hometown of KMSK, is located in the East Flanders region and is known as a place where many wealthy people live.

In the 2019-20 season, the club was promoted to the second division of the Belgian Pro League. In the 2020-21 season, their first year of promotion, they finished a respectable fifth (out of eight clubs). The club is growing rapidly and has announced plans to build a new stadium.

For more information about KMSK Deinze, please visit the official website.
About ACAFP
ACAFP is a Singapore-based football business company that plans to create multi-club ownership from Asia, and is a member of the ACA Group, whose core business is the private equity fund management. Distinguished football industry experts active in Europe have joined the team as founding members in support of ACAFP’s mission to “Release the value of Sports & Evolve”. In the future, ACAFP will further expand its network by executing capital and business alliances with partner clubs that support this mission, and will play a role in accelerating the global development of European football.

For more information about ACAFP, please visit the official website.
About DEA
DEA is a Singaporean company founded in August 2018. On April 8, 2020, the company’s first developed cryptocurrency – DEAPcoin – got listed on the OKX cryptocurrency exchange. DEA also released its first game, JobTribes, a NFT card trading battle game, as well as the “PlayMining NFT” a marketplace for trading NFTs.

Co-CEO: Naoto Yoshida, Kozo Yamada
Location: 7 Straits View, Marina One East Tower,#05-01,Singapore 018936
Establishment: August 2018
Business description: GameFi Platform Business
Contact Information
Digital Entertainment Asset Pte. Ltd
Hideaki Kurihara：kurihara@dea.sg
Honami Soeda：soeda@dea.sg
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February 23, 2022

CNH Industrial presents updated 2024 Strategic Business Plan

Strategic priorities center on Customer-Inspired Innovation; Technology Leadership; Brand and Dealer Strength; Operational Excellence; and Sustainability Stewardship
Launch of Company Purpose: Breaking New Ground. Innovation Sustainability Productivity
Updated Sustainability Targets, including commitment to Science Based Targets initiative (SBTi)
Presentation of three-year financial targets, including:
- Net sales of Industrial Activities projected to grow to $20 – $22 billion by 2024 with CAGR of ~6%
- Adjusted 2024 EBIT Margin of Industrial Activities of ~12% to 13%, more than 200bps increase from 2021
  - Agriculture EBIT Margin to reach 14.5% to 15.5% by 2024
- Adjusted EPS of above $1.70 by 2024
- ROIC of Industrial Activities projected to achieve ~19%, with a 3% growth during the plan period
- Cumulative 2022-2024 free cash flow of Industrial Activities projected over $4.4 billion

London, February 22, 2022

CNH Industrial (NYSE: CNHI / MI: CNHI) today announced its updated 2024 strategic plan at its Capital Markets Day event in Miami, Florida.

Scott W. Wine, CNH Industrial Chief Executive Officer, introduced the new Company and set forth its strategic priorities, including Customer-Inspired Innovation; Technology Leadership; Brand and Dealer Strength; Operational Excellence; and Sustainability Stewardship.

Other senior members of the leadership team presented on topics including Precision Technology, Agriculture, Construction, Electrification and Alternative Fuels, Sustainability and three-year Financial targets.

“Today, my colleagues and I had the privilege of unveiling the new CNH Industrial and our long-term strategy for enhanced customer inspired growth and improving financial performance. We are confident that the plan we detailed today gives us a strong foundation to advance with purpose and pace,” said Scott W. Wine, Chief Executive Officer, CNH Industrial. “The enhanced capabilities of our focused Agriculture and Construction businesses will leverage our competitive strengths and acquired assets. These are backed by a deeply experienced team, united by common goals, which will deliver bold actions across the organization for our stakeholders. Guided every step of the way by our customers, our plan will enable CNH Industrial to deliver world-class products with leading technology to the world’s farmers and construction professionals.”

Breaking New Ground – Innovation Sustainability Productivity
Underpinning this updated 2024 strategic plan is the new company purpose: Breaking New Ground, which evokes CNH Industrial’s drive to move first to a place where others follow and continually search for better solutions and breakthrough ideas. The new company purpose is centered on Innovation, Sustainability and Productivity to accelerate CNH Industrial’s ability to help the global farming and construction communities meet the enormous challenge of feeding and sheltering a growing population.

A disciplined financial strategy
Oddone Incisa, Chief Financial Officer, presented the Company’s updated 2024 Financial Plan. Through disciplined investment in the organization, CNH Industrial will continue to deliver organic growth, while pursuing inorganic growth opportunities that build capability and accelerate profitable growth. The latter will be complemented by investments performed by the newly formed CNH Industrial Ventures, which envelops existing partnerships and explores further collaboration with promising digital and technology start-ups operating in the agriculture or construction space. Capex will increase during the plan period to accelerate organic growth, improve customer experiences and prepare for a sustainable future.

CNH Industrial is maintaining its commitment to a strong balance sheet and liquidity and upholding its investment-grade credit rating. The Company confirms its intention to be net-debt free by 2023. Additional financial plan highlights include:

Gross Margin in excess of 24% by 2024, more than 300bps increase by the end of the plan period
R&D of ~$2.6 billion, a step up to ~4.5% of Net Sales focusing on new products and new precision technology

The updated 2024 financial plan also commits to a consistent dividend policy and confirms the Company’s ability to exercise appropriate share buybacks.

Precision Technology: Targeting digital leadership
Core to the new CNH Industrial strategy is its focus on technology leadership in automation and its commitment to delivering a fully autonomous farming cycle, while increasingly extending this expertise to enhance the capabilities of the Construction segment.

Parag Garg, Chief Digital Officer, illustrated how the Company is working to enable and enhance farm productivity and yield. By leveraging the great precision technology from the Raven acquisition and championing plug and play automation and autonomy and a full suite of digital services, the Company is increasingly delivering smarter equipment solving customer challenges and making their work easier. CNH Industrial’s strong capabilities are significantly enhanced by Raven Industries, allowing for the swift scaling up of best-in-class solutions to meet evolving customer needs.

Supporting the above efforts are the pillars of the Company’s Precision Technology strategy:

Customer Obsession, where technology solutions are designed with a heightened awareness of customer needs;
Tech Culture, a streamlined and trend-adopting approach to work and delivery that optimizes execution;
Tech Stack, a flexible and robust technological infrastructure that drives this path to automation and autonomy; and,
A healthy and conducive Partners Ecosystem that fosters open collaboration and removes obstacles.

Agriculture Segment: Industry-leading products (Great Iron) with cutting-edge technology (Great Tech)
Derek Neilson, President Agriculture, discussed the Company’s Agriculture Segment. Present in some 200 countries, it supplies a full range of equipment through tailored brands, products and distribution networks. During the plan period, R&D and Capex investments will almost double to $4bn, focusing on customer-centric innovations in terms of automation and autonomy, connected machine ecosystems and alternative fuels. Agriculture margins are projected to reach 14.5 – 15.5% by 2024.

CNH Industrial will invest in a path to excellence in customer and dealer satisfaction, fundamental to the Company’s future success. The state-of-the-art and productivity-boosting agricultural product portfolio will undergo significant expansion, with 150 product launches expected over the plan period, supporting the differentiated positioning of the Case IH and New Holland Agriculture brands.

Construction Segment: Delivering profitability
Stefano Pampalone, President Construction, demonstrated how the transformation of this business has laid the foundations for future profitable growth. The acquisition of the Sampierana business is a key enabling factor, bringing further in-house technology capabilities and an extended mini and midi excavator product portfolio, including electric models. CNH Industrial’s Construction Segment will offer new customer-facing solutions for enhanced productivity, safety, and sustainability. The segment will continue to pursue a multi-brand strategy via CASE, New Holland Construction (leveraging its agriculture dealer network and applications) and Eurocomach (the newly acquired brand within the Sampierana SpA portfolio).

Further investment in Electrification & Alternative Fuels
With increasing global demand for zero emissions, CNH Industrial will continue to build upon its leading position in alternative propulsion (thanks to 15+ years of R&D and products in commercial production). This will enable its customers to achieve unrivalled results and increased productivity with an enhanced user experience, simultaneously opening new use cases and applications, while also doing good for the planet.

Selin Tur, Vice President of Advanced Technologies and Innovations, presented the Company’s Electrification & Alternative Fuels strategy. It is characterized by a robust product pipeline with innovation synergies foreseen across all product lines for both segments. The Company adds to its existing capabilities with strategic partnerships and extends product platform learnings to its own supply chain operations.

Sustainability Stewardship
The new CNH Industrial continues on its longstanding path of excellence in sustainability, which is recognized by the foremost authorities. Kelly Manley, Chief Diversity & Inclusion, Sustainability and Transformation Officer, discussed the Company’s Sustainability strategy, which includes:

Carbon Footprint, a full commitment to science-based target initiatives (SBTi) as a natural continuation of CNH Industrial’s sustained efforts on climate and the environment;
Circularity & Eco Efficiency, to ensure the sustainable lifecycle of its products together with optimizing water usage and waste management at Company plants;
Inclusion, Equity and Engagement, where the Company is committed to building equitable human capital, transforming its culture, and engaging meaningfully with the communities in which operates; and,
Governance and Commitment where CNH Industrial is implementing enhanced metrics to measure its sustainability performance. All of these efforts are focused on securing CNH Industrial’s continued sustainability leadership in its sectors and reinforcing its identity as an employer of choice.

“This plan is a resonant demonstration of the significant transformation that CNH Industrial is undertaking. We are living in a dynamic world and compete in competitive industries, but I am confident in our team and our strategy,” said Suzanne Heywood, Chair of CNH Industrial. “The Board of Directors and I fully endorse the plan presented here today and are supportive of the Senior Leadership Team’s commitment to customer-inspired growth, sustainability and continuously improving the company culture, which will drive results for all stakeholders.”

The materials presented today are available through the CNH Industrial corporate website.

CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its five core Brands: Case IH, New Holland Agriculture and STEYR, supplying 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment delivering a full lineup of construction products that make the industry more productive. Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success, driven by its purpose of Breaking New Ground. As a truly global company, CNH Industrial’s 35,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.

For more information and the latest financial and sustainability reports visit: cnhindustrial.com

For news from CNH Industrial and its Brands visit: media.cnhindustrial.com

Media contacts:

Laura Overall
CNH Industrial Communications
Tel. +44 207 925 1964

Rebecca Fabian
CNH Industrial Communications
Tel. +1 312 515 2249

Email: mediarelations@cnhind.com

Forward-looking statements

All statements other than statements of historical fact contained in this press release, including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. Forward looking statements also include statements regarding the future performance of CNH Industrial and its subsidiaries on a standalone basis. These statements may include terminology such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “outlook”, “continue”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “prospects”, “plan”, or similar terminology. Forward-looking statements, including those related to the COVID-19 pandemic, are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize (or they occur with a degree of severity that the Company is unable to predict) or other assumptions underlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: the continued uncertainties related to the unknown duration and economic, operational and financial impacts of the global COVID-19 pandemic and the actions taken or contemplated by governmental authorities or others in connection with the pandemic on our business, our employees, customers and suppliers; supply chain disruptions, including delays caused by mandated shutdowns, industry capacity constraints, material availability, and global logistics delays and constraints; disruption caused by business responses to COVID-19, including remote working arrangements, which may create increased vulnerability to cybersecurity or data privacy incidents; our ability to execute business continuity plans as a result of COVID-19; the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods-related products, including demand uncertainty caused by COVID-19; general economic conditions in each of our markets, including the significant economic uncertainty and volatility caused by COVID-19; travel bans, border closures, other free movement restrictions, and the introduction of social distancing measures in our facilities may affect in the future our ability to operate as well as the ability of our suppliers and distributors to operate; changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods-related issues such as agriculture, the environment, debt relief and subsidy program policies, trade and commerce and infrastructure development; government policies on international trade and investment, including sanctions, import quotas, capital controls and tariffs; volatility in international trade caused by the imposition of tariffs, sanctions, embargoes, and trade wars; actions of competitors in the various industries in which we compete; development and use of new technologies and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety or other aspects of our products; production difficulties, including capacity and supply constraints and excess inventory levels; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities; housing starts and other construction activity; our ability to obtain financing or to refinance existing debt; price pressure on new and used vehicles; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, follow-on private litigation in various jurisdictions after the settlement of the EU antitrust investigation of the Iveco Group announced on July 19, 2016, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH Industrial and its suppliers and dealers; security breaches with respect to our products; our pension plans and other post-employment obligations; further developments of the COVID-19 pandemic on our operations, supply chains, distribution network, as well as negative evolutions of the economic and financial conditions at global and regional levels; political and civil unrest; volatility and deterioration of capital and financial markets, including other pandemics, terrorist attacks in Europe and elsewhere; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing.

Forward-looking statements are based upon assumptions relating to the factors described in this earnings release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH Industrial’s control. CNH Industrial expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning CNH Industrial, including factors that potentially could materially affect CNH Industrial’s financial results, is included in CNH Industrial’s reports and filings with the U.S. Securities and Exchange Commission (“SEC”), the Autoriteit Financiële Markten (“AFM”) and Commissione Nazionale per le Società e la Borsa (“CONSOB”).

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