MELVILLE, N.Y.--(BUSINESS WIRE)--Verint Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company, today announced it has been named a leader by industry analyst firm Ovum in Intelligent Virtual Assistant (IVA) solutions in a comparison report, Ovum Decision Matrix: Selecting an Intelligent Virtual Assistant Solution, 2020-21*. Reviewing IVAs that leverage artificial intelligence (AI) to provide natural, human-like interactions with consumers, the report concludes the new tools "make a massive difference to customer engagements" compared with legacy, non-intelligent IVAs. Verint Intelligent Virtual AssistantTM--part of Verint Customer Engagement Cloud portfolio--is among the best, according to the report. "The strides that leading vendors have made in IVAs in recent years are impressive," says Ovum Distinguished Analyst, Michael Azoff, author of the report. "In the vendors' customer use cases we studied, for example, it was typical to hear of million-dollar range cost savings by introducing IVAs (calculated as cost per call), bringing ROI within the first year."
Successful businesses today are driven by enhanced collaboration capabilities and insights that drive operational improvements. Verint (News - Alert) Systems, a company that calls itself the, "Customer Engagement Company," is focused specifically on delivering Actionable Intelligence solutions that help organizations keep customers happy and their employees working together efficiently. The combination of these capabilities have allowed Verint to become recognized for excellence in the industries it serves. It's most recent accolade is inclusion in the Magic Quadrant for Workforce Engagement Management (WEM) from advisory firm Gartner (News - Alert). Leaders are selected based on the offerings ability to deliver benefits to enterprises of all sizes with global support as well as revenue and references.
Conversations about workforce optimization (WFO) have heated up in the past couple of months. Following several passionate discussions about its future – as the transition to the cloud accelerates – I was inspired to write about the category and its evolution. My first surprise was the broad range of definitions for WFO. I was struck by the number of people equating the three-letter acronym to recording and quality management (QM). Industry analysts concur on a much broader definition including workforce management (WFM), performance management (PM), and more advanced applications like speech, interaction analytics, and gamification.
Customer service is evolving, with innovation in areas like artificial intelligence, analytics and the Voice of the Customer we are on the precipice of wholesale change. The complex concert that is contact center operations is sounding quite sweet. Per recent reports from Frost & Sullivan (News - Alert) and DMG Consulting LLC, Verint has increased its market leadership in the Asia Pacific region. Echoing these sentiments, Frost & Sullivan named The Customer Engagement Company as the Contact Centre Optimization Solution of the Year. Krishna Baidya, Head – Customer Contact Research at Frost & Sullivan noted, "Verint's (News - Alert) strategy enables organizations to simplify, modernize, and automate their customer engagement operations and gain a sustainable competitive advantage, while balancing customer experience and cost in customer operations. The company has continuously expanded its analytics capabilities, strengthening all aspects of customer contact from agent performance optimization to customer and employee engagement."
Knowledge management has become an essential solution to the contact center industry given its important role in both the customer experience and the employee experience. Providing a fast and efficient way to connect employees and customers to the knowledge they need is no longer a customer service luxury--it is a customer experience necessity. Proprietary 2019 Saddletree Research data indicates that 62 percent of the industry is currently using knowledge management software and an additional 25 percent will be acquiring a knowledge management solution within a year. The industry clearly understands the value of knowledge management in the contact center. With the announcement of the Verint Knowledge Management Professional solution, Verint is pushing the knowledge management envelope by introducing artificial intelligence (AI) into the knowledge management mix.