Verint Solutions Enhance Workforce Productivity and Performance in Back-Office Operations
MELVILLE, N.Y., May 21, 2014 – Verint® Systems Inc. (NASDAQ: VRNT) today announced that customers are finding innovative techniques to optimize customer engagement using the company’s software and services for back-office operations. For example, in the insurance, banking and healthcare industries, greater insight into employee activity is helping balance workloads and optimize resources to increase processing and throughput. These organizations are also benefitting from simplified and centralized administration and maintenance, as well as lower total cost of ownership.
Verint uses the term “back-office” to represent the part of a company that performs non-customer facing administrative, processing and operations activities that impact customer engagement. These areas include payment processing, new account set up, claims, research, order fulfillment and more. Errors and inefficiencies in these types of transactions can result in additional calls in a company’s contact center, repeat work for back-office departments and dissatisfied customers—all of which translate into added costs to an organization.
A Pelorus Associates report1 cites that “Verint was the first of the WFO [workforce optimization] suite vendors to specifically target back-office and vertical market opportunities. What’s special about Verint’s workforce management solution is it addresses all contact center markets as well as back office and retail bank branch opportunities. The advanced version incorporates performance management and eLearning to optimize schedule adherence and time utilization.”
As forward-thinking companies focus on back-office operations as part of their broader customer engagement initiatives, Verint is seeing workforce optimization and other customer service solutions—including volume and data capture, capacity modeling, case management, work item tracking, knowledge management, forecasting and scheduling, strategic planning, application analysis, process analysis, eLearning/lesson management, and performance management—more prevalent in these departments. A DMG Consulting report reveals that “Workforce Management software remains the most important productivity tool in many contact centers, and is expected to find a similar position in the back office.”2
“Back-office managers are under tremendous pressure to improve productivity, cut costs, optimize employee utilization, and reduce risk, while at the same time, improving the customer experience,” says Donna Fluss, president, DMG Consulting.3
For example, a leading international insurance organization serving millions of customers across commercial and institutional organizations, as well as individuals, recently deployed Verint Back-Office Operations—including workforce management, performance management and advanced desktop analytics—across multiple sites and thousands of seats as part of a corporate-wide operational excellence and cost reduction program. The aim was to create a global, standardized framework to unify the insurance company’s businesses and take advantage of economies of scale via one shared services support group.
“Companies are finding that by leveraging Verint’s technology in back-office environments, they are able to help eliminate inefficiencies that can cost millions of dollars in the first year alone, while at the same time improving customer engagement,” says Nancy Treaster, senior vice president and general manager, strategic operations, Verint Enterprise Intelligence Solutions™.
To learn more about Verint workforce optimization and other customer engagement optimization solutions, visit www.verint.com.
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, over 10,000 organizations in more than 180 countries—including over 85 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.
1 Accenture Consulting, “Compliance: Dare to be Different, 2017 Compliance Risk Study”
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, 2018, our Quarterly Report on Form 10-Q for the quarter ended July 31, 2018, 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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