Concentrix is an American
business services
Corporate services or business services are activities which combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) ...
company specializing in customer engagement and business performance. Concentrix was a subsidiary of
SYNNEX Corporation (NYSE: SNX) since 2006 and went public as an independent company on December 1, 2020. Concentrix is headquartered in
Fremont, California
Fremont is a city in Alameda County, California, United States. Located in the East Bay region of the San Francisco Bay Area, Bay Area, Fremont has a population of 230,504 as of 2020, making it the fourth List of cities and towns in the San Fra ...
.
History and acquisitions
Concentrix was founded in 1983, its heritage can be traced back to 1973 to its insurance administration business
solutions
Solution may refer to:
* Solution (chemistry), a mixture where one substance is dissolved in another
* Solution (equation), in mathematics
** Numerical solution, in numerical analysis, approximate solutions within specified error bounds
* Soluti ...
and services which were acquired in 2013 by Concentrix from IBM. Concentrix has grown through multiple acquisitions bringing on board eight companies since 2006. Two of the acquisitions that are especially notable include the IBM Worldwide Customer Care Services Business(known as IBM Daksh) and the Minacs Group Pte.
On June 28, 2018,
Convergys
Convergys Corporation was a corporation based in Cincinnati, Ohio, that sold customer management and information management products, primarily to large corporations. Customer management products included agent assisted, self-service and care sof ...
and
Synnex announced they have reached a definitive agreement in which SYNNEX would acquire Convergys for $2.43 billion in combined stock and cash, and integrate it with Concentrix.
On October 5, 2018, Convergys Corporation and Synnex announced that they have completed the merger.
In May 2022, Concentrix announced the organisation has a definitive agreement to acquire U.S based B2B customer experience technology and solutions company, ServiceSource International, Inc. (NASDAQ: SREV). The deal was worth $131 million.
Controversies
In 2014, Concentrix won a £75 million contract from the UK's tax authority, the
HMRC
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, to review two million tax credit claims for fraud and incorrect tax credit awards.
Tax credits
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or a form of state "disc ...
are a form of UK social welfare benefit paid out to parents and workers on low incomes.
In 2016, Concentrix was receiving heavy criticism from the cross-party parliamentary committee on welfare for incorrectly closing the claims of tens of thousands of claimants, leaving them without money for essentials. A government report disclosed that of 36,000 appeals against Concentrix, 87% were upheld. In September 2016, the HMRC announced that it would not renew the contract, due to expire in 2017, although the Treasury has resisted calls for a full inquiry thus far. As a result of Concentrix's failings, thousands of claimants are also due to receive back-payments for incorrectly stopped claims. Processing the resultant case reviews cost HMRC £43 million.
''ABC News'', 6 December 2018. Retrieved 6 December 2018.
References
External links
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Business services companies of the United States
Companies based in Fremont, California
Business services companies established in 1983
1983 establishments in California
Companies listed on the Nasdaq
Corporate spin-offs