Verint Named a Leader in the IDC MarketScape for Worldwide Conversational AI Software Platforms for Customer Service 2021

Rhea-AI Summary

Verint (NASDAQ: VRNT) has been recognized as a leader in two recent IDC MarketScape reports for its conversational AI solutions aimed at enhancing customer service. The reports evaluate the competitive fitness of 16 vendors, highlighting Verint's strong analytics, customization capabilities, and customer satisfaction. Verint's Da Vinci AI processes billions of engagements, providing significant ROI and innovation. This acknowledgment positions Verint favorably among enterprises, particularly in financial services and life sciences.

Positive

• Ranked as a leader in IDC's conversational AI software platforms assessment.
• Recognized for robust analytics and reporting capabilities.
• High customer satisfaction regarding pre-trained models' accuracy.
• Strong customization support for AI implementations.
• Uses Da Vinci AI to enhance customer engagement and deliver ROI.

Negative

• None.

Recognized as a Leader in Two Conversational AI IDC MarketScape Vendor Assessment Reports

MELVILLE, N.Y.--(BUSINESS WIRE)-- Verint^® (NASDAQ: VRNT), The Customer Engagement Company^™, today announced that it has been named a leader in the second of two IDC reports on conversational artificial intelligence (AI). The IDC MarketScape: Worldwide Conversational AI Software Platforms for Customer Service 2021 Vendor Assessment report ^* positions Verint in the Leaders category for delivering robust conversational AI solutions specifically in the customer service environment. The company was also recently named a leader in the IDC MarketScape: Worldwide General-Purpose Conversational AI Platforms 2021 Vendor Assessment report published in October.

The IDC MarketScape assesses the products, services, and competitive fitness of 16 vendors helping organizations leverage conversational AI capabilities to create automated solutions that excel in speech, text, intent, and language recognition, and respond in a way that mimics human conversation.

“Consider Verint when you are a large enterprise, particularly in financial services or life sciences, seeking strong analytics and reporting capabilities and a vendor who will partner closely with you on implementation and customization,” said Dave Schubmehl, research vice president with IDC. “Verint’s conversational analytics and IVA capabilities can make it a good ‘one stop shop’ for customer support organizations looking to upgrade their IVR to voice-based conversational AI while also developing and maintaining virtual assistants for digital channels.”

The IDC MarketScape report states, “Verint’s customers praised the strength of its pre-trained models, both in terms of overall accuracy as well as accuracy in domain specific use cases, such as financial services or life sciences. They also highlighted Verint’s willingness to work with its customers to customize conversational AI implementations as needed.” The report also noted that the conversation analytics and reporting capabilities, including the ability for contact centers to analyze and monitor agent performance were well received by customers.

“At Verint, we know that the shift towards digital means much more than offering more channels,” says Heather Richards, vice president, go-to-market strategy, digital-first engagement. “Powered by Verint Da Vinci^™ AI and Analytics, which processes billions of customer-engagement interactions across dozens of industries annually, our conversational AI delivers trusted, digital-first experiences that personalize experiences and drive significant ROI and innovation for our customers.”

Verint Conversational AI works with an enterprise’s existing ecosystem, as well as other Verint Cloud Platform applications including Social and Private Messaging, Engagement Orchestration, Knowledge Management, Community, Workforce Engagement and Experience Management.

About IDC MarketScape:

IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.

About Verint

Verint^® (Nasdaq: VRNT) helps the world’s most iconic brands – including over 85 of the Fortune 100 companies – build enduring customer relationships by connecting work, data and experiences across the enterprise. The Verint Customer Engagement portfolio draws on the latest advancements in AI and analytics, an open cloud architecture, and The Science of Customer Engagement^™ to help customers close The Engagement Capacity Gap^™.

Verint. The Customer Engagement Company^™. Learn more at Verint.com.

*Source: IDC MarketScape: Worldwide Conversational Artificial Intelligence Software Platforms for Customer Service 2021 Vendor Assessment (Doc #US48340721), November 2021

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, 2021, our Quarterly Report on Form 10-Q for the quarter ended October 31, 2021, 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, THE CUSTOMER ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE SCIENCE OF CUSTOMER ENGAGEMENT are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216005145/en/

Media Relations

Amy Curry

amy.curry@verint.com

Analyst Relations

Ryan Zuk

ryan.zuk@verint.com

Investor Relations

Matthew Frankel

matthew.frankel@verint.com

Source: Verint

FAQ

What is Verint recognized for in the IDC MarketScape reports?

Verint is recognized as a leader in two IDC MarketScape reports for its conversational AI solutions in customer service.

Which sectors benefit most from Verint's conversational AI solutions?

Verint's conversational AI solutions mainly benefit large enterprises in the financial services and life sciences sectors.

What key features of Verint's AI solutions were highlighted in the reports?

The reports highlighted Verint's strong analytics, reporting capabilities, pre-trained models' accuracy, and customization support.

How does Verint's Da Vinci AI impact customer engagement?

Verint's Da Vinci AI processes billions of customer engagements annually, driving significant ROI and innovation.

What is the significance of being named a leader in the IDC MarketScape reports for Verint?

Being named a leader enhances Verint's market position and credibility, attracting more enterprise customers seeking advanced AI solutions.