Verint Details its Business Impact Solution Initiative


Verint Details its Business Impact Solution Initiative

By Paula Bernier, Executive Editor, TMC  |  October 02, 2013

Verint (News - Alert) Systems Inc. has introduced what it calls a robust set of products to address specific business needs. Under the Business Impact Solution umbrella, Verint now offers High-Efficiency Performance Management, Regulatory Compliance, Personalized Guidance, and Operational Excellence offerings. And it has an offering called Voice of the Employee in the Business Impact Solution pipeline.

High-Efficiency Performance Management, which was unveiled in mid July, is aimed at helping organizations drive efficiency and increase performance across contact center, back-office and retail branch operations. It does that by delivering scorecards, coaching, and desktop and process analytics and workforce management.

“Enterprises’ increased willingness to spend on contact center technology has been met with a wider array of contact center performance management offerings, and improved solutions or delivery platforms,” says Donna Fluss, principal, DMG Consulting LLC. “Investments are focused on making contact center performance management solutions more actionable, to facilitate their use in consolidating findings from other workforce optimization modules, and to identify the right actions to effect positive change in agents, contact centers and other operating groups.”

As for the other solutions, Verint unveiled Business Impact Solution Regulatory Compliance early this summer at its Driving Innovation 2013 Global User Conference in Baltimore, which had some 1,000 attendees. Ryan Hollenbeck, Verint’s senior vice president of global marketing, explains that Business Impact Solution Regulatory Compliance helps businesses, such as financial and health care organizations, leverage customer complaints coming into their contact centers to detect potential compliance issues within their organizations. It does this by using Verint’s desktop and process analytics and recording solutions to look for words that convey confusion or frustration. Such words could potentially signal that a customer doesn’t understand what’s going on, which could indicate a possible compliance problem, explains Hollenbeck.

Some of Verint’s customers record millions of calls, but its tools can correlate words of complaint or frustration so just a few hundred calls are flagged for review, Hollenbeck says. The organizations can then share those calls with their compliance departments, which can assess whether there are compliance issues. If there are compliane issues, the organizations can then elect to use the Verint system’s e-learning component to adapt agent interactions so they comply with regulations going forward.

As for Verint’s Business Impact Solution for Personalized Guidance, that enables managers to help agents in real time as needed, even if those agents are in the middle of a call.

Another Business Impact Solution, this one addressing Operational Excellence, addresses three things: Cost-to-Serve, Call Avoidance, and Service Recovery. Cost-to-Serve employs Verint’s recording and speech analytics solutions to help businesses understand how much it costs to serve each one of their customers, the value of each customer, and the value of specific programs within those businesses. Call Avoidance, meanwhile, helps organizations prevent contact center calls by identifying and addressing problems before customers reach out to companies for a solution. It does that by using workforce optimization tools within the back office to do quality checks and manage workloads, for example. And Service Recovery helps organizations reduce customer churn and recapture lost customers by assessing the sentiment of contact center calls so businesses can get a supervisor involved, or take other steps, to prevent churn. Service Recovery also can facilitate post-call outreach, and can mine customer surveys for information that could signal dissatisfaction.

Verint also expects to add a Voice of the Employee component to its Business Impact Solution line in short order. Hollenbeck says that will enable organizations to survey their employees to get their input on how to improve their businesses. There’s a lot of talk about voice of the customer, he says, yet little about voice of the employee. But the two are clearly linked, says Hollenbeck, who adds that there’s a lot of research indicating employee engagement can help with customer satisfaction.

Edited by Alisen Downey
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