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Verint Witness Actionable Solutions Releases Two New Industry-Specific Versions of Impact 360

October 30, 2007

Verint Systems Inc. -- also known as Verint Witness Actionable Solutions, as per Verint’s recent acquisition and subsequent absorption of Witness Systems -- has released two new flavors of its workforce optimization software, Impact 360, which are specifically designed for branch banking and back-office operations.


Verint Witness Actionable Solutions’ Impact 360 for Retail Financial Services, which is designed for customer-facing bank branch stores, reportedly offers new strategic planning functionality that enables banks to create “what if” scenarios to predict more accurately the impact on staffing and customer service levels prior to implementing changes. With this new flavor of Verint’s Impact 360, banks can determine the training requirements for staff and account for the amount of time it will take so that customer service levels stay good. Similarly, the solution can recommend optimal times for conducting training when it will least affect service and costs, based on “low peak” periods. Interestingly, the software “considers” the amount of time it will take to train new employees, as opposed to established employees, and then incorporates that information into the model to ensure enough employees are available to meet customer service demands. This lets bank managers look at different scenarios, based on, for example, whether most of the staff is new, or, on the other hand, has years of experience.

This new version of Impact 360 also features new scorecards with performance alerts that can notify managers of less than satisfactory performance in real-time, enabling timely coaching or the assignment of eLearning lessons. It also sports new customer feedback survey functionality which enables customers to give real-time input based on their recent experiences. With this important feature in place, banks can respond quickly to customer complaints and build (or at least maintain) customer loyalty.

“Previously, the only metrics by which banks could measure performance in the branch were through customer wait times, transaction volumes and periodic, post-visit surveys conducted by phone or by mail,” said Darryl Demos, senior vice president and general manager of the Enterprise Solutions Group of Verint Witness Actionable Solutions, in a press release. “Now, with Impact 360’s expanded capabilities – such as application analysis, performance management, eLearning and customer feedback – banks can evaluate the effectiveness of employee performance by capturing transaction types, timing and steps taken to complete tasks, and then evaluating those metrics against targets, best practices and peer performance.”

Demos added that “by extending proven workforce optimization capabilities that have been successful in the customer-facing contact center market, for example, banks can now benefit from among the same functionality to deliver a superior and consistent customer experience across their enterprises.”

Meanwhile, Impact 360 for Back-Office Operations -- the other new flavor of Impact 360 -- offers a range of new capabilities to assist all kinds of back-office departments in the enterprise -- from claims processing, to order fulfillment, to customer administration, to billing, to retail and commercial banking, to mortgage banking, to lending, to insurance, to securities, to bank card servicing and transaction processing, you name it, chances are it will help. Among its key features are its ability to evaluate operational effectiveness, determine system and process efficiencies, monitor workflow, reduce errors, identify trends, and implement changes that enhance productivity and drive profitability. With it, organizations can gain real-time, automatic capture of activity and performance data from disparate systems across multiple functional groups, as well as the more traditional functionality enabling organizations to automatically forecast capacity and workload, and then align staff accordingly. With it, managers can develop well-conceptualized capacity plans stemming from the software’s ability highlight over/under staffing instances. Hence it uncovers opportunities for improved processes and capacity management to predict and meet demand and service level agreements (SLAs) more effectively. Additionally, Impact 360 for Back-Office Operations features a new Web-based scheduler which integrates with the solution’s forecasting functionality.

“We are now not only offering an integrated solution for the retail bank branch, but also a workforce optimization solution that addresses the unique needs of back-office operations, enabling banks and other verticals to have one provider and solution for enterprise-wide resource management and optimization,” Demos said. “As we build upon our market leadership position, our ongoing focus continues to be partnering with our customers to help deliver strong ROI, along with heightened employee and customer satisfaction.”

For more information about these industry-specific versions of Impact 360, visit www.verint.com.

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Patrick Barnard is Associate Editor for Customer Interaction Solutions magazine and Assignment Editor for ContactCenterSolutions. To see more of his articles, please visit Patrick Barnard’s columnist page.



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