Verint Systems Inc. Strengths, Domain Expertise, and Key Differentiators
Verint Systems offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud. Its Customer Engagement vision is powered by its Actionable Intelligence platform to generate intelligence from structured and unstructured data. It offers solutions that help organizations empower their customers and employees through intelligence that can be shared enterprise-wide. It is a provider of security and intelligence data mining software. Its solutions are used for a range of applications, including predictive intelligence, advanced and complex investigations, security threat analysis, and electronic data and physical assets protection, as well as for generating legal evidence and preventing criminal activity and terrorism.
Verint Systems Inc. Recent Developments
In 2024, Verint launched its Open Platform, a modular AI-powered customer experience (CX) automation solution. It enables organizations to deploy AI bots based on business needs and integrate them across contact centers and CCaaS environments, while sharing interaction insights across digital and physical channels.
In May 2024, Verint released Community 13, an updated version of its online community and self-service solution. The release introduced enhanced personalization, integrated learning, and improved connectivity with enterprise systems to support customer and employee engagement and reduce support costs.
Verint also upgraded its Workforce Management (WFM) solution with advanced AI features, including intelligent scheduling, mobile shift management, and workforce analytics. The enhancements aim to support hybrid and remote teams, improve operational efficiency, and enhance service quality.
Verint Systems Inc. Mergers and acquisitions (M&A) Activities
In 2024, Verint strengthened its position in the artificial intelligence market through several strategic acquisitions aimed at enhancing CX automation. The company acquired Cogito, whose technology for analyzing acoustic and lexical signals in real time was integrated into the new Verint CX/EX bot, enabling more precise measurement of customer and employee experience. Additionally, Verint acquired Fonolo, known for its cloud-based callback solutions, which was subsequently rebranded and integrated into Verint’s existing offerings as “Fonolo, A Verint Company.”
In January 2024, Verint sold its manual quality assurance services business. This move was part of the company’s strategy to shift from manual processes to AI-driven automation. The sold business had generated approximately $25 million in revenue in the prior year.
Verint Systems Inc. Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Verint Systems Inc. applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Verint Systems Inc. and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Verint Customer Analytics, Verint Engagement Management, Verint Workforce Optimization, customers.
Verint Systems Inc. Overview
Ownership: - NASDAQ: VRNT
Number of Employees: 3800
Functional Market: Workforce Analytics, Workforce Scheduling, Task Management, Performance Management,
Key Verticals: Automotive, Banking and Financial Services, Communication, Construction and Real Estate, CPG, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil Gas Chemicals, Professional Services, Retail, Transportation, Utility,
Verint Systems Inc. Key Cloud and HCM Applications
Verint Customer Analytics, Verint Engagement Management, Verint Workforce Optimization,
Verint Systems Inc. HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Verint Systems Inc. Revenue Breakdown by Type:
Verint Systems Inc. HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2024 HCM Revenues, By HR Segment, $M | |
Verint Systems Inc. HCM Applications Revenues By Verticals, $M:
Verint Systems Inc. Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Verint Systems Inc. Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Verint Systems Inc. Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Verint Systems Inc. Customers
No. of Verint Systems Inc. Customers: 10000
No. of Verint Systems Inc. HCM Applications Customers: x
No. of Verint Systems Inc. Cloud HCM Customers: x
No. of Verint Systems Inc. Cloud HCM Subscribers: x
Verint Systems Inc. serves a diverse global customer base, comprising approximately 10,000 organizations across more than 175 countries. Their clientele spans various industries, including financial services, healthcare, utilities, technology, and government sectors. These customers range from large enterprises with extensive workforces to small and medium-sized businesses (SMBs), reflecting Verint's versatile solutions tailored to different organizational needs . In the United States, Verint's customer distribution is significant, with notable clients such as American Express, PayPal, and Chase, each employing over 10,000 individuals. Internationally, the company maintains a strong presence, particularly in the United Kingdom, Canada, and Australia .
Verint Systems Inc. Market Opportunities, M&A and Geo Expansions
Amidst evolving workforce dynamics, brands confront unprecedented challenges in managing their personnel effectively. The increasing prevalence of remote work arrangements necessitates flexible workforce management solutions, posing complexities in team oversight and coaching. Moreover, resource constraints compel brands to enhance workforce efficiency, driving the adoption of AI-powered bots and automation technologies. Recognizing the imperative to leverage data and automation for operational optimization, brands are prioritizing employee experience across recruitment, onboarding, and retention processes.
These emerging trends present a significant market opportunity for Verint as they underscore the demand for innovative solutions shaping the future of work. With a focus on fostering synergy between human and automated workforce components, increasing automation, facilitating employee flexibility, and amplifying the employee voice, Verint is poised to meet the evolving needs of brands seeking to navigate the complexities of modern workforce management.
Verint Systems Inc. Risks and Challenges
Verint's ongoing cloud migration presents operational and execution risks. Intense competition across all markets threatens its ability to maintain market share, profitability, and growth. The emergence of new competitors, particularly in adjacent markets, adds further pressure and increases the risk of disruption.
Verint Systems Inc. Ecosystem, Partners, Resellers and SI
Verint sells its solutions through its direct sales teams and indirect channels, including distributors, systems integrators, value-added resellers (“VARs”), and OEM partners. Approximately half of its overall sales are made through partners, distributors, resellers, and system integrators.
Research Methodology
Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
For additional information on our methodologies, here's the link:
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
