Travel Company Uses Verint Bots for 95 Percent of Their Customer Bookings
Verint (NASDAQ: VRNT) has enabled a leading U.S. travel company to achieve a 95% self-service containment rate using its AI-powered Intelligent Virtual Assistant (IVA) bots. These bots handle six million digital interactions annually for travel bookings, changes, and cancellations. The travel company reported positive customer experiences with these bots. According to Heather Richards, Verint's VP of go-to-market strategy, Verint IVA significantly impacts business outcomes, enabling better customer service, reduced operating costs, and increased revenue. Companies can deploy Verint IVA in 30 days and see a 20% rise in self-service containment rates.
- 95% self-service containment rate achieved by using Verint bots.
- Handling of six million digital customer interactions annually.
- Positive customer experiences reported with the use of Verint bots.
- Potential for a 20% increase in self-service containment rate.
- Deployment of Verint IVA within 30 days.
- None.
Insights
The use of Verint’s AI-powered Intelligent Virtual Assistants (IVAs) by a leading travel company to handle 95 percent of their customer interactions is a notable milestone in the field of customer service automation. One of the most significant aspects is the high self-service containment rate, which means that the bots effectively resolve most customer queries without human intervention. For a tech-savvy retail investor, it signals a step forward in leveraging AI for practical business outcomes, such as reducing operational costs and enhancing customer experience. The ability to implement these solutions within 30 days showcases Verint's robust deployment efficiency, a competitive advantage in the fast-evolving tech market. However, it’s essential to consider that while the technology is promising, its success heavily depends on the accurate and comprehensive training of the AI, ongoing maintenance and the adaptability of the system to unexpected queries. The scalability and flexibility of such solutions could shape how other industries approach AI adoption.
From a financial perspective, the announcement has several implications. First, the travel company’s high containment rate is likely to lead to lower operating costs. With bots handling the bulk of customer interactions, the company can potentially reduce its customer service workforce, thus cutting payroll expenses. Over time, these savings could significantly impact the company’s bottom line. Another notable benefit is the improvement in customer experience, which can drive customer retention and loyalty. Happy customers are more likely to return and recommend the service, potentially increasing revenue. For Verint, this successful case study could bolster investor confidence and drive further sales of their IVA solutions. However, investors should be aware of the costs associated with the initial implementation and ongoing management of these systems, as well as potential risks if the AI fails to meet customer expectations.
This advancement in AI-driven customer service comes at a time when the travel industry is under pressure to innovate and streamline operations due to recent global disruptions. Verint’s solution addresses these needs by providing a scalable and efficient means to manage customer interactions. The 95 percent containment rate highlights the maturity and reliability of AI technologies in real-world applications. For the travel industry, such innovations can lead to a competitive edge, especially as consumer expectations for quick and efficient service grow. It’s also worth noting that successful implementations like this can push other travel companies to adopt similar technologies, potentially driving wider industry change. However, investors should watch for market saturation and the competitive responses from other tech providers aiming to capture this burgeoning market.
Verint IVA Delivers Industry Leading Self-Service Containment Rate
The travel company is using Verint’s AI-powered IVA to handle six million digital customer interactions per year related to travel booking, changes and cancellations. The company also reported positive customer experiences when their customers interacted with the Verint bots.
“Verint IVA continues to deliver a dramatic impact on business outcomes across many industries. Brands can better serve their customers, lower operating costs and drive incremental revenue,” says Verint’s Heather Richards, vice president, go-to-market strategy. “Today, Verint’s customers can deploy Verint IVA within 30-days and can quickly benefit from AI business outcomes such as a 20 percent increase in their self-service containment rate.”
Visit Verint Intelligent Virtual Assistant to learn more.
About Verint
Verint® (NASDAQ: VRNT) is a leader in customer experience (CX) automation. The world’s most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI business outcomes across the enterprise.
Verint, The CX Automation Company™, is proud to be Certified™ by Great Place To Work®. Learn more at Verint.com.
This press release contains “forward-looking statements,” including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks, uncertainties and assumptions, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2024, and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.
VERINT, VERINT DA VINCI, VERINT OPEN CCAAS, THE CX AUTOMATION COMPANY, THE CUSTOMER ENGAGEMENT COMPANY AND THE ENGAGEMENT CAPACITY GAP are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.
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Media Relations
Sue Huss
sue.huss@verint.com
Investor Relations
Matthew Frankel
matthew.frankel@verint.com
Source: Verint
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