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Verint Showcases Breakthroughs in Speech Analytics at Engage 2015 Customer Conference

Tue Jun 9, 2015

Cutting-Edge Advancements in Speech Analytics Automate Smarter Insights from Customer Calls at Twice the Speed and with High Accuracy

MELVILLE, N.Y. and LAS VEGAS, NV., June 9, 2015Verint® Systems Inc.(NASDAQ: VRNT) today showcased cutting-edge advancements to the Verint Speech Analytics solution from its Engage 2015 customer conference taking place in Las Vegas this week.

Part of the Verint Customer Engagement Optimization portfolio, the next-generation speech analytics solution includes several breakthroughs in technology and a modern, intuitive user interface. With a more intelligent, faster and accurate way to analyze customer calls, the software arms users with new levels of insights out-of-the-box, and provides even richer context of spoken phrases and the root causes prompting customer calls, behaviors and actions.

Backed by these advanced capabilities, Verint Speech Analytics helps reduce the potential for missed insights by automatically surfacing uncategorized context and themes within calls, enabling organizations to proactively identify, analyze and act on emerging trends, issues and opportunities. It also provides vital insights to drive faster, more informed decision making; apply deeper insights into quality management, performance management and overall employee engagement; and foster an enterprise that’s better connected to customer needs and expectations.

In analysis conducted by Gartner in the report Getting Value from Speech Analytics in the Contact Center, the research firm noted "there is a broad range of use cases to consider, each of which can provide measureable business value."1 Among those it included were the ability to impact "operational efficiency, quality management, revenue generation, collections, compliance, customer satisfaction/churn and fraud prevention," along with other applications as it relates to "campaign insight, competitive intelligence, pricing sensitivity and product feedback."2

Among the key advancements in Verint Speech Analytics are the:

  • Brand New Advanced Speech Engine. Capitalizing on learnings from a decade-plus of speech analytics experience, Verint Speech Analytics features a new speech engine that combines the best of both worlds. It incorporates phonetic and transcription combined with natural language processing (NLP) to enable the analysis of calls in real time and to build a complete semantic index of the big data in recorded calls. This helps organizations gain deep insights and double-digit improvement in accuracy on average across a multitude of languages, resulting in higher categorization and recall accuracy. Software speaker separation is another key enhancement that adds richer insights and enables better organizational understanding of how customer interactions and experiences unfold. The solution’s accuracy has been further complemented by a doubling of the speed of transcription, allowing organizations to process more calls with the same hardware, thereby lowering their total cost of ownership (TCO).
  • Sophisticated Semantic Intelligence and Machine Learning for Automated Theme Discovery. Taking analytics beyond the basics of identifying and trending words and phrases, the Verint solution capitalizes on semantic intelligence to provide a deeper understanding of the meaning and context behind the words used in conversations, along with resulting behaviors and actions. It can automatically correlate the relationship between spoken terms and phrases to identify the relationship and significance between them. By clustering these topics and relationships, users can gain a broader picture of emerging trends and themes, and in a single click, transform them into meaningful categories, vastly accelerating speed to insight. Using machine learning, the solution offers further value through its ability to "self-train" as new topics are added, and proactively identify and emerge rapidly surfacing conversations for analysis.
  • Redesigned User Interface. Verint Speech Analytics features a new, modern, intuitive user interface designed from the ground up. It presents rich visual context of conversations that makes it easy for users across the organization to understand customers and take action on critical insights. In association with the new user interface, speech analytics insights are now embedded into the workflows of the company’s broader customer engagement optimization platform. This enables users to benefit from context that stems from conversations, and for those findings to be quickly applied to search and replay, used in quality management and to further automate overall quality processes, and leveraged to help streamline performance management and employee engagement.

"The cutting-edge enhancements within Verint Speech Analytics are designed to surface rising trends and hidden insights at double the speed and with the utmost accuracy. With the insight derived from the solution, organizations have a powerful tool that can help them better plan, anticipate, analyze and act on customer and employee behaviors and engagement," says Oren Stern, senior vice president, product strategy, Verint Enterprise Intelligence Solutions.

Customers attending the Engage 2015 conference this week can experience Verint Speech Analytics in action at the event’s Solutions Lounge, June 8-10. To learn more about the speech analytics solution, which became available in January 2015, and the company’s other customer analytics solutions, click here.

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 www.verint.com and NASDAQ: VRNT.

Source: 1, 2 Gartner, Getting Value From Speech Analytics in the Contact Center, Jim Davies, January 6, 2014

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, 2015, our Quarterly Report on Form 10-Q for the quarter ended April 30, 2015, 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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Contacts:

Media Relations

Candace Flynn
Verint Systems Inc.
(303) 254-7152
candace.flynn@verint.com

Media Relations

Susan Merriman
Verint Systems Inc.
(303) 254-7231
susan.merriman@verint.com

Investor Relations

Alan Roden
Verint Systems Inc.
(631) 962-9304
alan.roden@verint.com