Verint Named Market Leader in Frost & Sullivan Customer Experience Report
Verint (NASDAQ: VRNT) has been named the overall market leader for both growth and innovation in the Frost & Sullivan Frost Radar™: Voice of Customer (VoC) Analytics, 2024 Report. The report evaluated over 50 global market players, highlighting the top 13. Verint's AI-based innovations and Open Platform were cited as key factors in its leadership position.
The company's platform integrates structured and unstructured data, focusing on AI-powered automation to drive business outcomes. Key features include digital behavior analytics, predictive modeling, real-time coaching, and AI-powered routing. Verint secured significant customer wins in 2024, including an eight-figure deal with a major retailer and multi-million dollar contracts with Fortune 500 and Fortune 100 companies.
- Named overall market leader for growth and innovation in Frost & Sullivan's VoC Analytics Report
- Secured an eight-figure deal with a major retailer
- Won several multi-million dollar contracts with Fortune 500 and Fortune 100 companies
- Ranked highest on both Growth Index and Innovation Index axes
- None.
Insights
Verint's recognition as the market leader in Frost & Sullivan's Voice of Customer (VoC) Analytics report is a significant achievement, but its immediate impact on the company's financial performance is likely The report highlights Verint's strengths in AI-driven CX automation and analytics, which could potentially translate to increased market share and revenue growth in the long term.
Key points to consider:
- Verint secured an eight-figure deal with a major retailer and multiple multi-million dollar contracts with Fortune 500 and 100 companies in 2024, indicating strong demand for their AI-powered solutions.
- The company's Open Platform, which integrates structured and unstructured data with AI-powered automation, positions Verint well in the competitive CX market.
- However, the immediate financial impact of this recognition may be minimal, as it typically takes time for such accolades to translate into significant revenue growth or stock price movements.
Investors should monitor Verint's upcoming financial reports to assess whether this market leadership position translates into tangible financial gains. While positive, this news alone is unlikely to drive substantial short-term stock price changes.
Verint's leadership in VoC analytics, particularly in AI-driven innovations, positions the company at the forefront of a rapidly evolving tech landscape. The integration of GenAI models and AI-powered automation in their Open Platform represents a significant technological advantage.
Key technological aspects:
- AI-powered features like digital behavior analytics, predictive modeling and real-time coaching demonstrate Verint's commitment to cutting-edge CX solutions.
- The modular architecture of their platform allows for quick deployment and scalability, which is important in today's fast-paced business environment.
- Verint's ability to consolidate and analyze customer feedback from multiple channels using AI is a differentiating factor in the crowded CX market.
While technologically impressive, investors should note that maintaining a leadership position in AI and analytics requires continuous innovation and substantial R&D investment. Verint will need to sustain its innovation pace to capitalize on its current market position and fend off competitors in this rapidly advancing field.
Analyst Ranking Positions CX Automation Company in Top Spot for Both Growth and Innovation
Frost & Sullivan independently evaluated over 50 global market players, highlighting the top 13 in its Frost Radar report. The Growth Axis in the report evaluates companies based on factors like revenue and growth rates, while the Innovation Axis focuses on their research and development efforts, innovation activities and the success of these initiatives.
“Today, businesses must leverage AI to consolidate customer feedback from multiple channels and transform it into actionable insights that improve overall customer experience,” said Ankita Singh, senior industry analyst, Frost & Sullivan. “Verint’s AI-based innovations position it as the strongest provider in the VoC analytics market. The company’s ability to integrate structured and unstructured data, combined with its focus on AI-powered automation, has made it a leader in driving business outcomes that align with strategic growth objectives.”
According to the report, Verint VoC Analytics ranked highest on both the Growth Index and Innovation Index axes based on the following reasons and criteria:
- Delivering AI-Driven CX Automation: Verint’s Open Platform empowers organizations to automate customer experience (CX) across digital channels, contact centers and retail branches. Its modular, AI-powered architecture allows for quick deployment and immediate results. Key features include digital behavior analytics, predictive modeling, real-time coaching, survey management and AI-powered routing, enhancing both customer (VoC) and employee (VoE) engagement.
- Market-Leading Analytics: Verint’s AI innovations in the VoC analytics market are further reflected by key customer wins during 2024. Notably, the company secured an eight-figure deal with a major retailer and several multi-million dollar contracts with Fortune 500 and Fortune 100 companies, showcasing the effectiveness of its AI-powered solutions.
“Verint’s Open Platform provides critical insights for all enterprise users including executives, analysts, IT and data scientists. The platform is powered by the most accurate and relevant customer and employee experience data feeding the latest GenAI models to deliver real AI-driven business outcomes, now,” said Jaime Meritt, Verint’s chief product officer. “Verint’s solutions uniquely empower our customers to capitalize on the power of AI to modernize traditional survey-based VoC programs.”
Visit Verint to learn more about Verint Voice of the Customer, Behavioral Data Hub and Business Analytics. To read the report, download the Voice of Customer (VoC) Analytics, 2024 Report.
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, Now™ 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.
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Investor Relations
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Source: Verint
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