LogMeIn LOGM launched Bold360 suite of products, which will help organizations improve customer experiences (CX).
The new offerings — Bold360 Service, Bold360 Advise and Bold360 Acquire — built on AI-powered Bold360 customer engagement platform, are designed to help businesses deliver an impactful CX from the first engagement and throughout the customer lifecycle.
Notably, the company is expanding Bold360 to provide conversational AI to all customer touchpoints starting from sales to service to post-sale support.
Reportedly, the new suite of solutions will deliver more simplified collaborations amid proactive sales, customer service and agent aid to cushion both customers and employees whether online or in person.
Bold360 AI — A Key Driver
LogMeIn is looking to accelerate its Customer Engagement and Support (CES) business by helping companies transform the way they engage with their customers.
To this end, CES segment is favored by Bold360 AI, which is further driven by the digital evolution and the growing adoption of artificial intelligence-based solutions to deliver an enhanced CX.
Bold360 AI offering is the company’s first product to feature AI, which per management, has proven to have a solid competitive differentiation.
In the last reported quarter, Bold360 continued to gain traction in both net new wins and cross-selling into the company’s installed base. The company is also benefiting from burgeoned channel partnerships for Bold360 AI. Notably, it signed the largest partner-driven pact with a large global systems integrator for Bold360 AI in the quarter.
Per LogMeIn, Bold360 has a competitive edge as the benefit it provides to the agent is as sturdy as the benefit to the end consumer. The agent’s ability to be super-powered by the AI capabilities of Bold360 leads to effecient work management. Moreover, availability of self-learning on the platform and the introduction of advanced features are making Bold360 more agent-friendly.
The expansion of Bold360 portfolio is therefore expected to boost the company’s CES business segment, which was flat on a year-over-year basis in the first-quarter.
LogMein, Inc. Revenue (TTM)
LogMein, Inc. revenue-ttm | LogMein, Inc. Quote
Zacks Rank and Stocks to Consider
Currently, LogMeIn has a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader technology sector are eGain Corporation EGAN, Rosetta Stone RST and j2 Global, Inc. JCOM, each flaunting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth rate for eGain, Rosetta Stone and j2 Global is currently predicted at 30%, 12.5% and 8%, each.
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