Earlier this year, the organization also received the Frost & Sullivan 2010 North American IP Surveillance Software Company of the Year Award. These dual honors across Verint's enterprise workforce optimization (WFO) and security intelligence businesses reinforce the leading technology company's overall actionable intelligence vision.
The truly successful technology organizations are those whose visions move beyond core commoditized tools to become full-strength solution providers. With the downturn taking a heavy toll and many contact centers cutting back on spending in 2009, Verint was actively engaged in product enhancements. Verint's primary technology offering for contact centers is Impact 360®, a unified, analytics-driven, enterprise WFO solution. It incorporates call recording, quality monitoring (QM), workforce management (WFM), customer interaction analytics, desktop and process analytics, performance management, eLearning and coaching into a single suite.
Throughout 2009 and into 2010, Verint made many software advancements, including new capabilities to its quality QM, WFM and speech analytics solutions, as well as enhanced PCI-supporting features. Also in this timeframe, Verint bought Iontas, a privately-held company that develops desktop and process analytics solutions. Further, the company's Impact 360 Workforce Management included a host of new capabilities for enterprise operations, enhancing workflow and extending Verint's leadership in the back-office WFO market.
"While Verint has taken several serious steps to put itself on a strong growth trajectory, among the most important forward-looking developments involves its partnership with Avaya, which selected and named Verint as its sole OEM provider for WFO technology. Bundling a version of Verint's WFO suite into its own contact center offering as an Avaya-branded, sold and supported solution, this gives Verint even broader reach and a partnership channel that takes it well beyond its installed base using the largest technology vendor in the industry," says Frost & Sullivan Principal Analyst Keith Dawson.
Verint has also forged an important partnership with SAP to make the company's flagship Impact 360 solution the only WFO and WFM endorsed business solution for SAP, with integrations into SAP's CRM and BCM solutions. In addition, Iontas' applications strengthen Verint's enterprise push by melding contact center performance analytics with visibility into what processes are at work in managing customer interactions.
Verint has shown exceptional dexterity in tackling volatile market conditions and following through on the opportunities that the marketplace and changing circumstances have presented it. Over the past year, the company has further expanded its reach across the call center and into the enterprise, specifically by offering WFO tools to branch and remote offices, and in back-office operations. Verint has experienced success selling back-office WFM seats to companies in the financial services and insurance sectorswith some companies looking to deploy many of the same kinds of work- and productivity-tracking tools they have in the contact center out to similar departments and workers whose functions impact the customer experience. The company also extended its footprint in the SMB contact center market with Impact 360 Express, a channel-only solution that offers the components of APO in more easily affordable modular form. In addition, Verint recently launched Impact 360 Express for Retail Financial Services, a subscription service tailored for branch banking environments.
"Market share penetration in both of the tracked APO sectors has been dramatically affected by consolidation in recent years, and Verint is one of three tier one companies vying for the lion's share of the market," notes Keith Dawson. "Market positioning relies heavily on customer satisfaction with the tools they have deployed and the ability of vendors to up sell customers, adding on software that perpetuates loyalty."
The company has not only unified its tools into a coherent suite, but expanded he reach of the suite through customer interaction analytics.
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 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 85 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. Verint is listed on the NASDAQ Stock Market under the symbol "VRNT."
About Frost & Sullivan
Frost & Sullivan (frost.com), 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.