MELVILLE, N.Y., May 11, 2016 — Verint® Systems Inc. (Nasdaq: VRNT) today announced its inclusion in the newly published Magic Quadrant for the CRM Customer Engagement Center report by research and advisory firm Gartner, Inc. This marks the fourth year the company's solutions have been recognized in this evaluation for ability to execute and completeness of vision. The report evaluated Verint's Engagement Management™ solutions.*
In addition to appearing in this new research, Gartner also positioned Verint the highest and furthest in the Leaders quadrant of the latest Magic Quadrant for Customer Engagement Center Workforce Optimization1 (WFO) report based on its completeness of vision and ability to execute—making it the only vendor in the market to appear in both Magic Quadrants.
Engagement management and workforce optimization solutions—along with customer analytics—are part of Verint's comprehensive Customer Engagement Optimization™ portfolio.
On an annual basis, Gartner evaluates the CRM Customer Engagement Center and Customer Engagement Center WFO technology landscape and places providers of the technologies in one of four quadrants. Vendors are evaluated across two key areas—"ability to execute" and "completeness of vision"—that cover 15 distinct criteria.
Ability to execute includes an evaluation on product or service, overall viability, sales execution/pricing, market responsiveness/record, marketing execution, customer experience and operations. Completeness of vision criteria covers market understanding, market strategy, sales strategy, offering (product) strategy, business model, vertical/industry strategy, innovation and geographic strategy.2
The CRM Customer Engagement Center Defined
In the new Magic Quadrant for the CRM Customer Engagement Center research published May 4, 2016, Gartner "examines the global market for customer service and support applications designed to engage customers through whichever channel they are using when they require assistance."3
As noted by report authors Michael Maoz, VP distinguished analyst, and Brian Manusama, research director, "Vendors' positions in this Magic Quadrant reflect the growing demand for cloud-based customer service applications to support agents who engage with customers through multiple channels."4
Functionality evaluated in the Magic Quadrant includes knowledge-enabled service resolution, and social media/community management and offer management, along with interaction assistance tools and service analytics dashboards. Gartner notes that these applications should have tools for both agents and customers, designed on a common platform."5 Critical capabilities that the firm cites cover case management/problem/service resolution; knowledge management; a full customer self-service suite that supports web and mobile channels; real-time decision-making and predictive analytics support for agents; an adaptive business rule engine; and enterprise feedback management.6
Customer Engagement Center WFO Defined
In Gartner's most recent Magic Quadrant for Customer Engagement Center Workforce Optimization research, published December 8, 2015, the firm states that "Workforce optimization (WFO) solutions contain complementary functions designed to improve the performance of customer engagement centers by means of [the] optimized deployment of appropriately trained and motivated agents."7
In the report, the firm "recommends that WFO solutions be embraced strategically within customer engagement centers as they provide benefits ranging from lower [total cost of ownership] TCO to improved operational performance"8 and, that "multichannel-interaction analytics capabilities have matured to the point where their adoption should now be considered, due to the insights and business value that can be obtained from them. They should be viewed as an integral part of a WFO solution, not as stand-alone luxuries."9
About Verint Systems Inc.
Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization, security intelligence, and fraud, risk and compliance. Today, more than 10,000 organizations in 180 countries—including over 80 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we're creating A Smarter World with Actionable Intelligence® at www.verint.com.
Sources: Gartner, Inc. 2-6 Magic Quadrant for the CRM Customer Engagement Center by Michael Maoz & Brian Manusama, May 4, 2016. 1, 7-9 Magic Quadrant for Customer Engagement Center Workforce Optimization by Jim Davies & Sorell Slaymaker, December 8, 2015. *Verint acquired KANA Software in 2014.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
This press release contains "forward-looking statements," including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. 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 to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2016 and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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