MELVILLE, N.Y., February 22, 2016 — Verint® Systems Inc. (NASDAQ: VRNT) today announced its acquisition of Contact Solutions, a leading provider of real-time, contextual customer care solutions. With this acquisition, Verint is furthering its mission of being the world’s leading Actionable Intelligence® platform that enables organizations to provide crucial insights that empower decision makers to anticipate, respond and take action.
The combination of Contact Solutions advances the Verint Customer Engagement Optimization™ portfolio with the addition of cloud-based solutions that enhance voice and mobile self-service through automation and analytics-driven personalization. By joining Contact Solutions’ strong self-service capabilities with its advanced customer analytics, engagement management and workforce optimization solutions, Verint is extending omnichannel engagement across the enterprise.
In today’s market, the dramatic increase in consumer and business use of social networks, mobile devices and new digital technologies is driving the need for omnichannel customer engagement, including innovative new self-service applications. “We believe demand for these types of solutions is being driven in organizations by the need for intelligence that enables them to create more engaged workforces and more seamless, personalized customer experiences,” notes Elan Moriah, president Verint Enterprise Intelligence Solutions™, and Verint Video and Situation Intelligence Solutions™.
The combination of Contact Solutions and Verint will increase the value proposition that customers of both companies receive. Verint customers—including many of the world’s largest and fastest-growing organizations—will be able to extend their investments in omnichannel customer engagement with expanded cloud-based voice and mobileself-service options. Contact Solutions’ dynamic customer base—including many public sector and commercial organizations—will have access to new world-class actionable intelligence with the ability to leverage leading customer engagement optimization solutions to help transform their end-to-end customer engagement.
Making It Personal
Today’s forward-thinking organizations understand the value of delivering personalized and contextually relevant interactions that enhance the customer experience and heighten loyalty. Backed by a robust set of analytics, Contact Solutions’ personalization engine analyzes and adapts call flow and the pace of interactions based on caller behavior. For example, if a caller most frequently selects “account balance” from a set of menu options, the personalization engine can detect this behavior and dynamically rearrange the menu so “account balance” is always the first option presented to that caller. This reduces both time and effort, resulting in better experiences for customers, and decreasing interaction costs for the enterprise through higher automation rates and shorter calls.
Advancing Mobile Self-Service and Engagement
The rise of “digital-first” approaches to customer engagement has opened the door for consumer engagement at any point in the customer journey. Thanks to the widespread adoption of smartphones, mobile self-service is on the rise and growing in popularity. To address customer demand and market dynamics, Contact Solutions delivers My:Time™, its patented digital engagement platform. This cloud-based solution extends engagement optimization across smartphones, tablets and personal computers. With advanced, cross-channel messaging functionality, it enables customers to start a digital interaction on one device and continue it on another, allowing continuity and continued personalization of interactions. Leveraging My:Time’s App2Agent™ functionality takes mobile customer service another step forward by enabling a seamless transition from self-service to live service within a mobile app, mobile web or web application.
Combatting Contact Center Fraud
The combination with Contact Solutions also will add functionality to Verint’s solution set focused on mitigating risk, identifying fraud and reducing loss. For instance, Contact Solutions’ capabilities complement Verint Identity Authentication and Fraud Detection™, the innovative technology that delivers passive voice biometrics to profile and recognize the voiceprints of fraudulent callers—while makingcaller authentication faster, easier and more secure. Backed by advanced analytics, Contact Solutions brings advanced “upstream fraud detection” functionality that can identify suspicious caller behavior within voice self-service interactions. As potentially threatening interactions surface, red flag detection alerts users to problems and tailors appropriate responses.
About Contact Solutions
Contact Solutions is a leading provider of cloud-based voice and mobile customer care solutions. With a focus on customer engagement that’s effortless for the customer and sustainable for the enterprise, its solutions help reduce effort through highly personalized self-service and agent-assisted experiences, all provided at the convenience of the customer. Leveraging business intelligence to continually improve and optimize customer care, it helps today’s enterprises achieve superior results at sustainable cost, while adapting quickly to rapidly changing customer demands. Learn more at www.contactsolutions.com.
About Verint Systems Inc.
Verint® is a global leader in Actionable Intelligence®, which has become a necessity in a dynamic world of massive information growth. By empowering organizations with crucial insights, Verint solutions enable decision makers to anticipate, respond and take action, and make more informed, effective and timely decisions. Our solutions are designed to address three important areas of the actionable intelligence market: customer engagement optimization; security intelligence; and fraud, risk and compliance. Verint’s vision is to create A Smarter World with Actionable Intelligence®, and today, more than 10,000 organizations in over 180 countries—including over 80 percent of the Fortune 100—already benefit from this vision. Learn more at www.verint.com and NASDAQ: VRNT.
This document contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint. Forward-looking statements are often identified by future or conditional words such as “will”, “plans”, “expects”, “intends”, “believes”, “seeks”, “estimates”, or “anticipates”, or by variations of such words or by similar expressions. These forward-looking statements are not guarantees of future performance and they are based on management’s expectations that involve a number of risks, uncertainties, and assumptions, any of which could cause actual results or events to differ materially from those expressed in or implied by the forward-looking statements, including risks associated with mergers and acquisitions, such as uncertainties regarding the closing of the transaction or the ability to realize the expected benefits of the transaction, as well as risks associated with related system integrations and potential asset impairments. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the year ended January 31, 2015, our Quarterly Report on Form 10-Q for the quarter ended October 31, 2015, and other filings we make with the SEC. Verint assumes no obligation to revise or update any forward-looking statement, except as otherwise required by law.
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