Welcome to our dedicated page for Verint Systems news (Ticker: VRNT), a resource for investors and traders seeking the latest updates and insights on Verint Systems stock.
Verint Systems Inc. (NASDAQ: VRNT) is a global leader in actionable intelligence® solutions. Founded in 1994 and headquartered in Melville, New York, Verint specializes in providing solutions that help organizations make timely and effective decisions. With over 4,800 dedicated professionals and offices worldwide, Verint serves more than 10,000 organizations in over 180 countries, including over 80 percent of the Fortune 100.
Verint's core business revolves around three critical challenges:
- Customer Engagement Optimization: Solutions that enhance customer experiences by capturing valuable data and using analytics to provide actionable insights.
- Security Intelligence: Systems designed to improve security measures and ensure safer environments.
- Fraud, Risk, and Compliance: Tools that assist in identifying and mitigating risks, preventing fraud, and ensuring regulatory compliance.
Verint's comprehensive solutions enable organizations to gather vast amounts of information from various data types and sources. The company employs advanced analytics to transform this data into actionable intelligence, facilitating improved customer engagement, enhanced security, and effective risk management. Recent achievements include expanding their product portfolio and forging strategic partnerships to enhance their service offerings.
Verint's value-added services are tailored to meet the needs of organizations across different industries, making it easier for them to bridge the gap between limited resources and increasing customer expectations. The company's innovative solutions have proven pivotal in driving enterprise performance improvements and making the world a safer place.
For investors and stakeholders looking for the latest updates and relevant information on Verint's performance, the company actively shares news and developments that highlight their ongoing projects and achievements.
Verint (VRNT) reported Q2 FYE 2025 results, highlighting strong AI momentum with AI bookings increasing over 40% year-over-year. Revenue was $210 million, flat year-over-year on a reported basis but up 3% when adjusted for a divestiture. Bundled SaaS revenue grew 15% year-over-year, driven by AI. Diluted EPS was $0.02 on a GAAP basis and $0.49 on a non-GAAP basis, reflecting 3% year-over-year growth.
The company maintained its FYE 2025 outlook, expecting 5% adjusted revenue growth to $933 million (+/- 2%) and 10% adjusted EBITDA growth. Verint's CEO emphasized the company's success in delivering 'AI Business Outcomes, Now'™, positioning them well for strong AI bookings growth in the second half of the year and accelerating revenue growth over time.
Verint (NASDAQ: VRNT) has announced the lineup of industry-leading analysts speaking at Engage 2024, its premier annual customer engagement conference. The event, scheduled for September 23-25, 2024, in Orlando, Florida, will focus on CX automation and AI business outcomes. Jay McBain from Canalys will headline the Partner Summit, while other notable speakers include analysts from Constellation Research, COMMfusion, DMG Consulting, and more.
The conference will feature over 50 sessions covering topics such as AI in contact centers, employee experience, behavioral data, and practical trends in AI and CX. Attendees will gain insights from industry experts, major brands, and Verint solution specialists on solving pressing business challenges with AI.
Verint (NASDAQ: VRNT) announced a significant expansion of its Interaction Wrap Up Bot deployment by a major healthcare provider. The AI-powered bot, which automates call wrap-up work and summarizes customer-agent dialogues, will now be used by 30,000 agents, up from the initial 300-agent deployment earlier this year. This expansion comes after the bot demonstrated tangible AI business outcomes in just a few months.
Jaime Meritt, Verint's chief product officer, highlighted that the bot can reduce average call duration by 30 seconds, potentially saving organizations millions of dollars annually. The order for this expansion was received in Verint's 2024 fiscal second quarter, marking a substantial growth in the adoption of Verint's CX automation technology.
Verint (NASDAQ: VRNT) has announced it will release its second quarter financial results for the period ending July 31, 2024, on Wednesday, September 4, 2024. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results and provide an outlook. Interested parties can access the call through Verint's Investor Relations webcast page, where a real-time webcast with presentation slides will be available. Participants are encouraged to register for the call in advance to receive dial-in numbers and a unique PIN. The earnings press release will be issued after the market closes on September 4th.
Verint (NASDAQ: VRNT), a CX Automation company, has announced significant success in combating self-service fraud using its AI-powered Call Risk Scoring Bot. A business process outsourcer (BPO) utilizing this technology reported blocking $6 million in fraudulent attempts on a state unemployment insurance payment system in July 2024 alone. The bot, part of Verint's Open Platform, proactively analyzes customer behavior data to detect and mitigate fraudulent patterns before they occur.
David Singer, Verint's global vice president of Go-to-Market, emphasized the bot's effectiveness in protecting both consumers and taxpayer dollars. This breakthrough demonstrates the tangible business outcomes achievable through AI-driven fraud prevention in self-service systems, particularly in high-risk areas like unemployment insurance programs.
Verint (NASDAQ: VRNT), a leader in CX Automation, announced a significant improvement in a leading bank's contact center Net Promoter Score® (NPS). The bank's NPS improved twelvefold via Verint's AI-powered Quality Bot and Coaching Bot.
The Quality Bot automates quality processes, offering a consistent view of performance, while the Coaching Bot provides real-time assistance to agents handling complex mortgage queries. This combination enhanced the bank's customer experience (CX), elevating its NPS from 3 to 39 points.
Verint's David Singer, Global VP, stated that these bots help brands focus on customer engagement and satisfaction through Verint's Open Platform and best-in-class AI automation.
Verint (NASDAQ: VRNT) has secured a $4.5 million contract over three years with a leading insurance company. The insurer will deploy Verint's AI-powered bots to enhance CX automation across their 3,000-agent contact center. Initially, the bots will be implemented for 600 agents in one business unit, with plans to expand. The solution includes various bots such as Exact Transcription Bot, Knowledge Automation Bot, Coaching Bot, Interaction Wrap Up Bot, and Data Insights Bot. The insurer anticipates the solution to pay for itself in under six months and expects to increase bot usage over time. This move aligns with the growing trend of AI reshaping the insurance industry and creating opportunities for increased CX automation.
Verint (NASDAQ: VRNT) has announced significant success with its AI-powered Data Insights Bot across major brands. The bot is delivering rapid, groundbreaking contact center insights to business users, automating processes, and providing instant access to critical data. For instance:
- A major pharmaceutical brand automated dashboard creation, reducing a three-day weekly process to seconds.
- A global financial services firm streamlined reporting for quick access to insights.
- A global home and office services company now has instant access to agent availability reports, previously taking 3-4 days per week.
The Data Insights Bot allows business users to converse with contact center data, providing immediate AI business outcomes and automating access to vital insights, ultimately increasing agent capacity and enhancing customer experience.
Verint (NASDAQ: VRNT) has announced that a leading U.S. car rental company has purchased its TimeFlex Bot to reduce attrition among 400 reservations agents in its contact center. The bot provides unlimited schedule flexibility while improving schedule quality and automatically calculating the impact of shift changes based on forecasted volumes, capacity, and performance.
The TimeFlex Bot delivers a frictionless agent scheduling process that improves work/life balance for agents and reduces managerial review and approval time. It can be deployed in 30 days or less and integrates with any existing contact center ecosystem. Agents can learn to use the bot within minutes, making it a quick solution for improving employee retention and delivering AI business outcomes.
Verint (NASDAQ: VRNT) announced that a leading UK insurer has achieved significant business outcomes using their AI-powered bot. The insurer, which handles over 4 million customer interactions annually, deployed the Verint Exact Transcription Bot, resulting in:
1. $1 million savings in operational costs
2. 22% increase in customer satisfaction
3. Enhanced 360-degree view of cost center operations
4. Optimized business workflows
Jaime Meritt, Verint's chief product officer, emphasized the importance of clean, high-quality data in driving business insights and tangible outcomes, whether the focus is on cost reduction or improving customer experience.
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