Verint Systems Inc - VRNT STOCK NEWS

Research by Verint (NASDAQ: VRNT) reveals that only 50% of business leaders feel prepared for future customer engagement challenges, while 82% expect these challenges to grow in 2021. A survey involving over 2,000 global leaders highlighted a widening Engagement Capacity Gap, exacerbated by COVID-19. Key concerns include understanding changing customer behaviors (94%) and managing increased interaction volumes (88%). Despite recognition of the importance of cloud-based solutions, 30% of leaders cut investments in related technologies last year. Verint introduces new resources to address these urgent needs.

Verint Systems Inc. (NASDAQ: VRNT) announces a series of webinars addressing evolving customer engagement challenges in 2021. The discussions will focus on bridging the resource gap organizations face in meeting growing customer expectations. Key speakers include Ryan Hollenbeck and Jen Snell, who will explore new AI tools and strategies for enhancing customer retention and satisfaction. Verint aims to help organizations navigate the digital transformation landscape and improve their customer engagement strategies, emphasizing the importance of effective tools in contact centers.

Verint Systems Inc. (Nasdaq: VRNT) and 8x8, Inc. (NYSE: EGHT) announced a partnership to integrate cloud workforce management applications and cloud contact center solutions aimed at mid-market and enterprise businesses globally. The collaboration will allow customers to optimize contact center operations and enhance customer engagement through deep integrations of their platforms. Urban Outfitters highlighted the benefits of the integration, emphasizing improved real-time data access for better customer experience management.

Verint Systems Inc. (Nasdaq: VRNT) announced the upcoming spin-off of its Cognyte business, distributing 100% of Cognyte shares to Verint shareholders. On February 1, 2021, Verint will distribute one Cognyte share for each Verint share held as of the record date, January 25, 2021. Cognyte shares will start trading on NASDAQ under the symbol 'CGNT' on February 2, 2021. The spin-off is subject to customary closing conditions and is expected to be tax-free for shareholders under U.S. federal and Israeli laws.

Verint Systems Inc. and Cognyte Software Ltd. are hosting virtual investor days and management roadshows ahead of their planned separation, set to finalize after the fiscal year ending January 31, 2021. Verint's Investor Day is scheduled for January 21, 2021, at 10:00 AM ET, while Cognyte's Investor Day occurs on January 11, 2021, also at 10:00 AM ET. The management roadshows for both companies will take place shortly after their respective investor days. Live webcasts and replays will be available on their websites.

Verint Systems Inc. (Nasdaq: VRNT) has been recognized as the leading vendor in Contact Centre Workforce Management (WFM), Quality Monitoring (QM), and Analytics in the APAC region by Frost & Sullivan. The report highlights Verint's market share—37.1% in QM, 26.4% in WFM, and 38.8% in Analytics—surpassing competitors. Verint has also achieved double-digit growth in 2019, with a notable emphasis on cloud-based solutions. The firm was awarded the Contact Centre Optimization Solution of the Year, showcasing its commitment to customer engagement and technological innovations.

Verint Systems Inc. (Nasdaq: VRNT) has launched its Engagement Data Management (EDM) solution, designed to streamline and unify interaction data management across various communication platforms. This first-of-its-kind solution addresses challenges related to data silos, enhancing the ease of accessing and analyzing customer engagement data. Verint EDM offers capabilities such as an enterprise-wide interaction data hub, data ingestion APIs, enrichment, data management, compliance features, and an export API. This solution aims to unlock valuable insights for organizations and improve decision-making processes.

Verint Systems Inc. (NASDAQ: VRNT) reported strong financial results for Q3 and year-to-date, with revenue of $328 million and diluted EPS of $1.02 (non-GAAP). For the nine months ending October 31, 2020, revenue reached $925 million and diluted EPS was $2.61. The company emphasized robust cash flow, cloud transition acceleration, and a significant increase in cloud revenue, expected to grow by 20%. Verint is on track for the separation of its businesses into Verint and Cognyte, with investor days planned for January 2021.