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CHELMSFORD, MA - Harte Hanks, Inc. (NASDAQ:HHS), a global customer experience company, has announced a partnership with Outreach, a sales execution platform known for intelligent revenue workflows. The collaboration aims to enhance customer relationship management and end-user experiences by integrating the strengths of both companies.
Harte Hanks plans to incorporate Outreach's platform into its new product, Demand Generation in a Box, to help clients improve their sales processes. The partnership is expected to provide a competitive edge by combining strategic expertise with advanced technology.
Varsha Tomar, Vice President of Partnerships at Harte Hanks, expressed enthusiasm about the collaboration, stating, "Together, we can offer our clients an unmatched combination of strategic expertise and cutting-edge technology to drive their sales success."
Outreach, utilized by companies such as Cisco (NASDAQ:CSCO) and Verizon (NYSE:VZ), employs AI to optimize sales workflows and is recognized for its extensive foundation of customer interactions and go-to-market team data. The platform is designed to assist sales, RevOps, and Account Management leaders in creating and refining revenue strategies.
Dick O'Hara, Senior Director of Global Channel Sales at Outreach, highlighted the shared goal of delivering premium experiences to customers and empowering sales professionals to achieve success.
The partnership is part of a broader initiative by Harte Hanks to leverage joint marketing efforts and co-branded campaigns to expand their reach. The company, with a history spanning over a century, continues to focus on providing CX strategy, data analytics, and program execution to major brands worldwide.
This collaboration is based on a press release statement and reflects the companies' current plans and expectations. As with any business venture, outcomes may vary, and the companies caution that forward-looking statements involve risks and uncertainties.
In other recent news, Harte Hanks, a global customer experience firm, reported its Q1 2024 earnings, which showed a 3.5% decline in same-store revenue, yet indicates an improvement over the last five quarters. The company remains hopeful for future growth, driven by new customer acquisitions, strategic partnerships, and a concentrated effort to expand its presence in Europe. Additionally, Harte Hanks announced the appointment of Sharona Sankar-King as Chief Customer and Data Officer, a strategic move to bolster its data analytics and customer engagement capabilities. Sankar-King, formerly of Bain & Company, will join the senior leadership team in New York. The company's Elevate program, in partnership with Amazon (NASDAQ:AMZN) Web Services, is enhancing AI and machine learning capabilities, especially in customer care. Furthermore, Harte Hanks is making a strategic push into the European market and the SMB segment, with early successes noted in the Fulfillment & Logistics and Customer Care segments. The firm maintains cash reserves of $11.5 million and carries no debt, indicating a stable financial position. These are among the recent developments at Harte Hanks.
InvestingPro Insights
Harte Hanks, Inc. (NASDAQ:HHS), while forging new partnerships to enhance its customer experience offerings, shows a mixed financial canvas according to recent data from InvestingPro. The company's market capitalization stands at a modest $53.65 million, indicating a smaller player in the industry. Despite a challenging financial performance in the past, with a negative P/E ratio of -1.73 for the last twelve months as of Q2 2024, analysts are optimistic about Harte Hanks' future profitability.
InvestingPro Tips suggest that Harte Hanks is expected to see net income growth this year, which could be a sign of a turnaround from its previous performance. Additionally, the company has demonstrated a significant return over the last week, hinting at investor confidence in its strategic moves, including the recent partnership with Outreach.
On the liquidity front, Harte Hanks appears to be in a stable position, with liquid assets surpassing short-term obligations. This could provide the necessary financial flexibility to support its new initiatives. However, it's worth noting that the company operates with a moderate level of debt, which is an important factor for potential investors to consider.
For those interested in a deeper dive into Harte Hanks' financial health and future prospects, InvestingPro offers additional insights, including a total of 9 InvestingPro Tips available at https://www.investing.com/pro/HHS.
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