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Freshworks named in fourth Magic Quadrant this year

Wed 14 Oct 2020
FYI, this story is more than a year old

Freshworks’ Freshservice offering has been included as a Niche Player in the 2020 Gartner Magic Quadrant for IT Service Management Tools 

This year, Gartner has also recognised Freshworks for its Freshsales offering in the Magic Quadrant for CRM Lead Management and the Magic Quadrant for Sales Force Automation and for its Freshdesk offering in the Magic Quadrant for the CRM Customer Engagement Center, where it was named a Visionary – this means inclusion across four Gartner Magic Quadrants in a single year. 

The inclusion in this fourth analyst based research comes on the heels of Freshworks recognition in Gartner’s research based on their user-generated content. 

Freshworks was recognised in three Gartner ‘Voice of the Customer’ reports, in 2019 for CRM Customer Engagement Center, Sales Force Automation and IT Service Management Tool, the latter which aggregated the findings across hundreds of customer reviews. 

According to the 2020 Gartner Magic Quadrant for IT Service Management Tools, “the COVID-19 pandemic has highlighted the need for robust ITSM tooling to enable I&O to effectively respond to significant disruption in several ways”. 

“We believe that Gartner’s continued recognition of Freshworks reflects our drive to build powerful software that delivers great outcomes across our portfolio of employee and customer engagement products,” says Freshworks chief product officer Prakash Ramamurthy. 

“Notably, when the pandemic hit in March, businesses turned to Freshworks to help them quickly shift to digital and remote solutions that enabled superb experience for their employees and great service for their customers.” 

Gartner predicts that global IT spending is “projected to total $3.9 trillion in 2020, an increase of 3.4% from 2019. Software will be the fastest-growing major market this year, reaching double-digit growth at 10.5%.” 

Freshworks continues to see impressive growth across its portfolio with over 40,000 companies using Freshworks’ SaaS products to better engage and serve employees and their customers.  

To fuel further demand and offer increased utility to businesses, Freshworks acquired AnswerIQ earlier this year, bolstering its AI capabilities. 

The company also acquired IT orchestration and cloud management platform Flint to provide more visibility and automation for Freshservice.

“When the pandemic hit, our IT team was inundated with a 250% increase in inquiries from employees suddenly forced to navigate computer issues from their home office. Employing Freshservice enabled us to decrease response and resolution times by half while our employee satisfaction ratings went up from 60 to 70% to the high 90%,” says TaylorMade global client experience head Ali Chitsaz.

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