Contact Center Solutions Featured Article

Verint Award Underscores Importance of Providing Compelling Customer Experience

August 26, 2015

Based in Melville, NY, Verint Systems develops solutions that allow decision makers to take action in the areas of fraud prevention, security, risk management, compliance, and customer engagement optimization. The company recently announced that it received a 2015 Best Practices Award from research firm Frost & Sullivan. The recognition came as a result of its market domination in the Asia-Pacific (APAC) region, and the effectiveness of its customer service solutions.


Verint helps its customers succeed in customer engagement with a solution that addresses several different areas. It makes it possible for businesses to assign the right person, based on skill set, to solve a customer’s specific problems. Analytics identify trends relating to both employee and customer behavior. Service can be provided through any communications channel without missing a beat. It’s also possible to unify intelligence and other resources, uncover risks and fraud, and improve the overall experience for both employees and the customers.

The importance of Verint’s success in customer engagement illustrates not only its growth but the opportunity the entire market presents. In fact, a recent MarketsandMarkets study predicts large growth in the customer experience management market, projecting that between 2014 and 2019 it is forecasting growth from $3.77 billion to $8.39 billion, a CAGR of 17.3 percent.

Why, all of a sudden, is so much growth in customer experience management expected? Shouldn’t it have always been this way?

Commoditization plays a large part in the recent emphasis on the customer. A consumer who wants to buy an iPhone can purchase the device from numerous outlets and get mobile service from a variety of providers. At first glance, there is nothing special about one retailer over another or one service provider over another. Consumers know that no matter where they buy the iPhone and no matter who they get service from, in the end, they will have a working iPhone that lets them make calls, take selfies, browse the web, text with their friends and post cat videos on Facebook. Hence, knowing that when concerns arise that inquiries will be handled promptly and correctly has made customer experience a critical area for providing differentiated value.

Amazon, which many see as a prime driver of retailer commoditization, has also pioneered the importance of putting the customer first. This is reflected not just in making the sales process easy but also the holistic approach it takes to the details of the entire customer journey from suggestions, reviews and providing rapid and knowledgeable help.  “The fastest path to commoditization is inversely proportional to the fastest path to consumer satisfaction,” said Patrick Gauthier, vice president of external payments for Amazon. 

Verint’s award is illustrative of the importance in investments being made in having the right people, with the right information, and best tools for creating customer experiences that are compelling. And, the fact that APAC is the region for which it was recognized should not be over-looked.  Enhancing customer experiences in a connected world after all is a global requirement.  In fact, the trick is to act be global but appear local/intimate to the customer as a demonstrated way to showcase differentiated value. 




Edited by Peter Bernstein



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