Verint Acknowledged as Market Leader for Contact Center Applications in APAC by Frost & Sullivan
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Insights
Verint's recognition by Frost & Sullivan as a market leader in workforce management (WFM), quality monitoring (QM) and analytics in the Asia Pacific region is indicative of the company's strong positioning in the contact center solutions market. This acknowledgment, particularly in the context of a post-pandemic scenario where businesses are gravitating towards cloud-based, omnichannel solutions, suggests that Verint is well-aligned with current technological trends and customer demands. The company's AI-powered open platform approach is likely to cater to the growing need for advanced analytics and automation in customer experience (CX) management.
From a market perspective, Verint's leadership in multiple countries within APAC, including major economies like Australia, India and China, signals potential for growth and expansion. Investors should note that Verint's success in these markets could lead to an increase in market share and potentially higher revenues from these regions. The endorsement from a reputable research firm can serve as a testament to the company's product efficacy and innovation, which might influence customer acquisition and retention positively.
It is also important to consider the competitive landscape. As Verint solidifies its position, competitors may respond with strategic moves to challenge its market share. Stakeholders should monitor how Verint sustains its leadership and whether it can maintain a competitive edge through continuous innovation and customer satisfaction.
The announcement of Verint's market share leadership in WFM, QM and analytics by Frost & Sullivan has potential implications for its financial performance. Given that the Asia Pacific region is a rapidly growing market for technology and CX solutions, Verint's strong performance in these segments could translate into robust revenue streams. The diversification of Verint's customer base across several key APAC countries mitigates geographical risk and allows for a more stable revenue forecast.
Investors should consider the scalability of Verint's AI-powered platform. If the platform can adapt to different market needs and regulatory environments, it could lead to sustained growth and possibly provide a competitive advantage. However, it's essential to analyze the company's investment in research and development to ensure that it can continue to innovate and stay ahead of the curve in a highly dynamic industry.
Finally, the market's response to this news may be reflected in Verint's stock performance. A positive reception could lead to increased investor confidence, potentially boosting the stock price. Conversely, investors should be aware of the market's tendency to price in such announcements quickly, which might limit the short-term impact on the stock.
Verint's recognition highlights the strategic importance of AI in enhancing customer engagement platforms. AI-powered analytics and automation are becoming increasingly crucial for businesses seeking to improve customer satisfaction and operational efficiency. Verint's open platform approach suggests a level of flexibility and integration capability that is highly valued in today's market, where customization and scalability are key.
The emphasis on cloud and on-premises solutions addresses a diverse customer base with varying needs regarding data sovereignty, privacy and infrastructure. Verint's ability to cater to this spectrum of requirements could be a significant differentiator in the contact center applications market. Furthermore, the focus on omnichannel solutions is aligned with the industry's move towards providing seamless customer experiences across multiple communication channels.
For stakeholders, the technological advancements and market leadership position of Verint in APAC could signal long-term benefits. However, it's crucial to monitor how Verint continues to innovate and adapt to emerging technologies such as machine learning, natural language processing and predictive analytics to maintain its competitive edge.
Verint AI-Powered Open Platform Ranks First in Cloud and On-Premises Workforce Management, Quality Monitoring, and Analytics Advanced Application Solutions
The company’s contact center platform achieved the top market share leadership scores from Frost & Sullivan for each of these segments in a report entitled Asia-Pacific Contact Center Applications Tracker, 2023*. Verint's leadership status was further reinforced as it was named a leader in Frost & Sullivan’s Evaluation of End-to-End Customer Experience Platform Landscape, solidifying the company’s position as a dominant player in contact center applications and operations.
Verint was also recognized as leading the WFM, QM and analytics segments in multiple individual countries around the
“Organizations are increasingly embracing cloud-based, omnichannel solutions with advanced AI-powered analytics and automation to ensure business continuity and competitive differentiation in a post-pandemic landscape. Vendors like Verint with its AI-powered open platform approach have been at the forefront of these technological changes, further strengthening its reputation as a market leader,” said Krishna Baidya, senior director at Frost & Sullivan.
Verint’s President Asia Pacific, Ady Meretz is delighted by the company's ongoing success and recognition across the region. “As organizations continue to strive for CX automation, the Verint Open Platform can meet our customers wherever they are on their evolution, whether in the cloud or on-premises, and transform their customer and agent experiences through AI-powered solutions. It's gratifying to be celebrated by industry peers who help confirm our leadership in these areas.”
About Verint
Verint® (NASDAQ: VRNT) helps the world’s most iconic brands build enduring customer relationships by connecting work, data, and experiences across the enterprise. More than 10,000 organizations in 175 countries – including over 85 of the Fortune 100 companies – are using the Verint Customer Engagement Platform to draw on the latest advancements in AI, analytics, and an open cloud architecture to elevate customer experience.
Verint. The Customer Engagement Company®. Learn more at Verint.com.
*Source: Frost & Sullivan, Asia-Pacific Contact Center Applications Tracker, 2023
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, 2023, 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.
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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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