Verint Expands Customer Engagement Market Leadership in Asia Pacific

Rhea-AI Summary

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.

Positive

• Leading vendor in APAC for QM (37.1%), WFM (26.4%), and Analytics (38.8%).
• Recognized as Contact Centre Optimization Solution of the Year.
• Achieved double-digit growth in the APAC region in 2019.
• Strengthened position in cloud-based customer engagement solutions.

Negative

• None.

Verint^® Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company^™, today announced that it has once again been confirmed as the leading Contact Centre Workforce Management (WFM), Quality Monitoring (QM) and Analytics vendor in the APAC region, according to a recent APAC market share report from Frost & Sullivan. In addition, the firm named Verint as the Contact Centre Optimization Solution of the Year.

In terms of market leadership, Frost & Sullivan’s report entitled, Asia Pacific Contact Center Applications Market*, cites Verint as the leading vendor in APAC QM Systems at 37.1%, APAC WFM Systems at 26.4% and APAC Analytics Systems at 38.8%. The report also credited Verint with a market share that is significantly higher than the number two competitor, across the three combined contact center technologies. Verint was recognized as leading the WFM, QM and Analytics segments across the region, as well as being the combined and segment leader in multiple countries, including Australia, India, Singapore, China and Hong Kong.

For the first time, this year’s report recognized vendors’ cloud revenues in addition to the traditional on-premises figures, highlighting Verint’s leadership position as organisations continue their transition to cloud-based customer engagement platforms.

Commenting on the award, Krishna Baidya, Head – Customer Contact Research at Frost & Sullivan, said, “Investment across organizations has shifted toward customer-facing and optimisation applications, such as analytics and workforce management, that are designed to help organizations distinguish and realize business outcomes. In terms of growth, Verint is one of two vendors that experienced double-digit growth in the region in 2019.”

The recipients of the annual Frost & Sullivan Asia-Pacific Best Practices Awards are identified based on in-depth research conducted by Frost & Sullivan's analysts. The nominated companies are evaluated on a variety of actual market performance indicators including revenue growth, market share, growth in market share, leadership in product innovation, marketing strategy and business development strategy.

Verint’s President Asia Pacific, Ady Meretz is delighted by the recognition. “At Verint, we’re committed to helping our customers achieve their business goals as they transform their operations to cloud-based platforms that drive deeper customer engagement. That same commitment applies regionally as we continue to deliver leading solutions augmented with local customer service which makes us unique in APAC. We are delivering the latest innovations and technologies including workforce engagement, intelligent self-service and digital engagement driven by AI and automation. It is a great honour to be once again formally recognised by our peers and the market for our strategic and innovative work and be positioned as the leader in the QM, WFM and analytics categories.”

About Verint Systems Inc.

Verint^® (Nasdaq: VRNT) is a global leader in Actionable Intelligence^® solutions with a focus on customer engagement optimization and cyber intelligence. Today, over 10,000 organizations in more than 180 countries—including over 85 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we’re creating A Smarter World with Actionable Intelligence^® at www.verint.com.

*Source: Frost & Sullivan, Digitization and Cloud Migration Transforming Asia-Pacific Contact Center Applications Market, Forecast to 2026, published November 2020.

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, 2020, our Quarterly Report on Form 10-Q for the quarter ended October 31, 2020, 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, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, CUSTOMER ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, GI2, FIRSTMILE, OMNIX, WEBINT, LUMINAR, RELIANT, VANTAGE, STAR-GATE, TERROGENCE, SENSECY, and VIGIA are trademarks or registered 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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FAQ

What did Verint Systems achieve in the Frost & Sullivan report?

Verint was recognized as the leading vendor in Contact Centre Workforce Management, Quality Monitoring, and Analytics in the APAC region.

What are Verint's market shares in QM, WFM, and Analytics?

Verint has a market share of 37.1% in Quality Monitoring, 26.4% in Workforce Management, and 38.8% in Analytics.

What award did Verint receive from Frost & Sullivan?

Verint was awarded the Contact Centre Optimization Solution of the Year.

How did Verint perform in terms of growth in 2019?

Verint experienced double-digit growth in the APAC region in 2019.

What is Verint's focus regarding customer engagement solutions?

Verint is focused on transitioning to cloud-based customer engagement platforms.