WASHINGTON - ibex (NASDAQ: IBEX), a prominent provider of business process outsourcing (BPO) and customer engagement technology, announced today that Jim Ferrato, the company's Chief Information Officer (CIO), will retire on June 30, 2024. Ferrato has been a key figure at ibex since 2015, playing a pivotal role in the company's technological advancements and infrastructure.
Under Ferrato's leadership, ibex has seen significant growth and recognition, particularly in the development of its business technology platform and the adaptation of its workforce to remote operations during the COVID-19 pandemic. His notable contribution includes leading the creation of the Wave iX solutions suite, a Generative AI-powered platform designed to enhance customer experience by providing hyper-personalized and intelligent interactions.
The suite has been a cornerstone of ibex's service offerings, contributing to the company's recent accolades such as the 2024 Artificial Intelligence Excellence Award, consecutive Customer Experience Innovation Awards for 2023 and 2024, and Contact Center Technology Awards from 2022 to 2024. CEO Bob Dechant praised Ferrato's vision and leadership, which have been integral to establishing ibex's reputation for delivering top-tier customer experience (CX) solutions.
Ferrato's career spans over three and a half decades in the IT sector, with senior roles at various companies including ACCENT Marketing and Aspect Communications. As ibex begins the search for a new CIO, Ferrato leaves behind a legacy of innovation and a roadmap for future technological developments at the company.
ibex operates 31 global CX delivery centers and employs over 30,000 individuals worldwide. The company focuses on leveraging its AI-powered technology to manage nearly 200 million customer interactions annually, which contributes over $2.2 billion in lifetime customer revenue each year.
This announcement is based on a press release statement from ibex.
InvestingPro Insights
As ibex (NASDAQ: IBEX) prepares for a leadership transition with the retirement of its Chief Information Officer, investors and stakeholders are closely eyeing the company's financial health and market performance. According to InvestingPro data, ibex is currently trading at a low P/E ratio of 8.23, which suggests the stock may be undervalued relative to its near-term earnings growth. This could be an attractive point for investors considering the company's technological advancements and market presence.
While the company's revenue has seen a slight decline of 1.15% over the last twelve months as of Q2 2024, ibex maintains a robust gross profit margin of 29.25%, indicating efficient cost management and a strong competitive position in the BPO industry. Moreover, ibex's management has been actively engaged in share buybacks, signaling confidence in the company's future prospects. An InvestingPro Tip highlights the high shareholder yield, which could be a result of these buybacks, despite the company not paying dividends.
It's also noteworthy that while analysts have revised their earnings expectations downwards for the upcoming period, ibex's liquid assets exceed its short-term obligations, providing financial stability as it navigates through the retirement of a key executive. For investors seeking further insights and additional InvestingPro Tips, such as the company's operating with a moderate level of debt and its profitability over the last twelve months, more information can be found on InvestingPro's detailed analysis at https://www.investing.com/pro/IBEX. Additionally, use the coupon code PRONEWS24 to get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, where 10 more InvestingPro Tips are available to enrich your investment strategy.
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