Based on its recent analysis of the IP surveillance software market, Frost & Sullivan recognizes Verint Systems, Inc. with the 2010 North America Frost & Sullivan Company of the Year Award for IP Video Surveillance Software. In a market in which many companies have fallen by the wayside due to weak growth strategies, Verint has pioneered IP surveillance management with its best-in-class solutions. With the influx of smaller participants and thereby, greater competition, Verint has stayed competitive by including integrated video analytics in its management platform, increasing the value of its software to both end users and systems integrators.
Verint has worked hard on building hardware products that enable seamless migration from traditional analog platforms to an IP platform. Verint's Nextiva solutions can work effectively in IP, analog, and hybrid environments. The increasing ability of IP to reduce threats and increase the effectiveness of security technology enables Verint to deliver solutions that can help end users migrate at their own pace, using hybrid solutions, without making astronomical capital investments. This makes the company the ideal partner for helping organizations maximize return on their investments (ROI).
In the case of existing installations, Verint works with systems integrators and end users to implement encoders and network video recorder (NVR) technology to convert analog signals to digital, allowing end users to take advantage of Verint's best-in-class IP video management solutions with embedded video analytics. Phased migrations from existing solutions to new technology help users understand their capabilities in advance, making the transition smoother. For new installations, the use of full IP solutions helps improve safety and security, while future-proofing the technology.
"Verint leads in various IP video surveillance market segments, including critical infrastructure, education and corporate enterprise, transportation, retail, banking, and a host of other industries," says Frost & Sullivan Industry Analyst Dilip Sarangan. "The company's solutions are essential tools in the security operations of multiple school districts, higher education institutions, critical infrastructure installations, and some of the largest retailers in the world."
The company offers a variety of IP cameras, wireless devices, NVRs, and encoders. As the undisputed leader in IP video management solutions, the company's ability to provide a wide range of quality products has positioned it to grow rapidly in the ever-evolving video security market.
Meanwhile, the market is grappling with integration issues since a bulk of the vendors provide niche solutions, some of which are built on proprietary platforms, while others are developed on an open-IT platform. Verint's ability to provide best-in-class solutions (either parts of the solution or the complete video portfolio), using IP networks, helps ensure that end users have access to the best solutions that can be integrated with other disparate security technologies.
"In addition to the high-quality portfolio of products, Verint has been responsive to customer demands in developing services around these products," notes Sarangan. "Verint has consistently outperformed its competition by delivering superior products and services that exceed customer expectations."
The total IP surveillance market (IP surveillance management software, encoders, IP cameras, and NVRs) is the fastest-growing segment in the security industry. Verint is one of the original companies in this market and has maintained a healthy market share right from the outset. Although many companies have made a mark since then, none have pervaded the market to the extent that Verint has in the past ten years.
Each year, Frost & Sullivan presents this award to the company that has demonstrated unparalleled excellence within its industry. This recognition is based on the company's business development, competitive strategy, customer satisfaction, and leadership. The recipient is perceived to exhibit outstanding management and consistent growth. The company must offer high quality products and/or services, and have positive social and economic impact on local and national communities. The company should have proven expertise in taking advantage of market changes by capturing and solidifying market presence, or through execution of innovative strategies within the existing competitive landscape.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Verint Video Intelligence Solutions
Verint® Video Intelligence Solutions™ is the leading global provider of networked video solutions designed to enhance the security of people, property and assets. Its award-winning Nextiva® portfolio features IP video management software, integrated analytics, encoders, cameras, wireless devices and intelligent DVRs for use across a variety of vertical market environments. Open, standards-based and IT friendly, Verint solutions help organizations realize the benefits of IP video leveraging their legacy video investments.
About Verint Systems, Inc.
Verint® Systems, Inc. (verint.com) is a global leader in Actionable Intelligence® solutions and value-added services. Our solutions enable organizations of all sizes to make timely and effective decisions to improve enterprise performance and make the world a safer place. More than 10,000 organizations in over 150 countries—including over 80 percent of the Fortune 100—use Verint solutions to capture, distill, and analyze complex and underused information sources, such as voice, video, and unstructured text. Headquartered in Melville, New York, we support our customers around the globe directly and with an extensive network of selling and support partners.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.