2 minute read
By Dick Bucci
Posted in Customer Engagement
At Pelorus Associates we have studied the workforce management space for over a decade. During this time we have watched Verint grow to become the number one player in the industry based on market share. Verint’s success is attributable to many factors, but one that really stands out—in our view—is the broad application of its WFM software.
Verint has a WFM solution for any environment that receives high (and low) volumes of interactions at a highly variable rate. This includes both large and small contact centers, back office functions, and branch operations. Furthermore, the product can be procured through both traditional on-premise purchases as well as the cloud. It doesn’t matter which call server you choose. Verint provides the options, and customers decide what’s best for them.
Let’s consider the plight of smaller contact centers. In each of our WFM reports, dating back to 2007, we lamented the limited choices for smaller contact centers. Our research indicated that more than 80% of all contact centers have fewer than 150 agents. Granted, some of these are very small and do not require automation. However, these smaller contact centers also include young fast-growing startups, e-commerce companies, and service businesses that rely on their superior service to compete with their larger, less agile competitors.
It is a promising and attractive market for WFM vendors. With its 2019 acquisition of Monet Software, Verint now has a WFM solution sized and priced to transition smaller contact centers from Excel spreadsheets to automated solutions. As their contact centers become larger and more complex, Verint has developed a migration path to its enterprise-class Verint Workforce Management.
Now let’s consider the enterprise market. Our research indicates that while less than 10% of contact centers have more than 400 agents, these larger centers account for 50% of total agent employment. Recent enhancements to Verint Workforce Management include a refreshed user interface, leveraging AI techniques when forecasting, and new agent-centric features that appeal to today’s mobile-savvy millennial workforce and the priority they place on work-life balance.
Finally, Verint stands out for its early and steadfast commitment to the back-office/branch office market. The company has been successfully scheduling back-office and non-phone agents for years, including scheduling for tasks and project work, as well as such non-phone activities as email, chat and social media. Market research commissioned by Verint 1 revealed that WFM could be successfully applied to a wide range of occupations that shared characteristics common to contact center agents. These employees outnumber customer service agents by approximately three to one.
These environments often lack the robust set of metrics common to contact centers. Verint, through prior acquisitions, has developed ways to establish service levels and intelligently schedule employees for many routine functions, such as claims processing and accounts payable.
In an age where many organizations choose to specialize, Verint has chosen to serve a broad swath of business environments. It’s workforce management for everyone!
1“Engagement in the Always-on Era: How Humans and Technology Work Hand-in-Hand to Meet Rising Expectations” commissioned by Verint February 2019 in association with Opinium Research LLP.
Completely agree that Verint is one of the leading edge platforms. Been a partner for over 17 years.
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