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 November 2021, Verint released new AI-driven Real-time Agent Assist (RTAA) capabilities including real-time sentiment analysis and new work assist functionality in the Verint Customer Engagement Cloud Platform. The new functionality, powered by Verint Da Vinci™ AI and Analytics, helps organizations connect with customers on a more empathic and human-level, empowering agents with in-the-moment knowledge and context around customer sentiment and intent. This gives brands a powerful tool to assist employees as they work from anywhere to boost customer satisfaction and loyalty in today’s digital-first world, where empathy-led customer experience is imperative.
In June 2020, Verint introduced new capabilities within its Workforce Management (WFM) solution designed to enable organizations to safely transition back to the workplace. Using existing components embedded within its WFM solution, Verint has created new workflows that customers can use to automatically create a comprehensive schedule that is prescriptive and accommodates traditional workforce management criteria such as skill level, channels, and peak hours, but also incorporates new requirements including:
The need for staggered start times; A mix of work-from-home and in-office agents; Safe distancing scheduling recommendations per building capacity, by floor, workspaces or zones to meet regulatory guidelines and provide employee assurances for maintaining a safe workplace; Necessary employee health checks, office and desk hygiene time allocations; Equal opportunities for employees to rotate in and out of the office and to ensure employees not yet ready to return to the office are not scheduled to do so; and Mobile scheduling requests and notifications to employees on schedule changes
In April 2020, Verint announced today that its cyber intelligence solutions are being deployed to help organizations manage COVID-19 challenges. Faced with unprecedented challenges posed by COVID-19, government agencies are turning to data mining technology for effective quarantine management. Verint has substantial experience helping organizations leverage data to address the operational challenges of quickly responding to circumstances with limited resources.
Verint’s solution helps governments manage COVID-19 restrictions from a centralized control center, including data analytics, alerts to emergency responders and notifications directly to citizens regarding compliance with restrictions. The solution provides government agencies a cost-effective tool to increase visibility and provide quick responses, and it can be deployed in specific areas or scale country wide.
In April 2020, Verint introduced multiple support programs that can be quickly deployed to address work-from-home (WFH) COVID-19 challenges and help businesses improve their visibility, compliance and productivity.
Verint WFH programs cover 5 areas:
Interaction analytics to increase visibility and compliance. Verint introduced a Covid-19 rapid response program that includes a set of 13 pre-built categories that are easily imported into an existing Verint Speech Analytics solution, providing timely and valuable insights to improve understanding of customer and employee business challenges to inform changes to systems, policies and processes.
Compliance tune up to reduce risk associated with a shift to a new WFH environment. Verint’s offering helps ensure WFH agents are continuing to adhere to a host of compliance requirements—from PCI to mandatory disclaimers and disclosures. Verint also offers customers end-to-end encryption for data at rest and in-transit.
Knowledge Management and Virtual Agents to improve workforce productivity with relevant and timely knowledge while supporting much needed automation efficiencies. The Verint COVID-19 programs include a KM starter package that can be fully deployed in several weeks and a WFH Intelligent Assistant offer focused on answering employee inquiries regarding the new remote work environment.
Experience Cloud to improve visibility into employee and customer experiences. Verint introduced a COVID-19 starter package that allows companies to understand the unique issues of the newly at-home workforce and use employee listening for vital two-way communication. Easy to set up, the program includes survey, analytics and alert capabilities to help companies prioritize and act quickly to create better work-from-home conditions.
Community and Web Self-Service platform to help organizations launch secure employee and customer communities, available 24X7, for coordination in the midst of the shifting landscape. Verint’s COVID-19 program includes quick deployment with a minimal set up charge.
Verint Systems Inc. Mergers and acquisitions (M&A) Activities
In September 2021, Verint Systems, completed the previously announced transaction to acquire Conversocial, a leader in conversational customer experience delivered over messaging channels.
Verint Systems completed its acquisition of eg Solutions plc. The acquisition of eg has strengthened the capabilities of Verint’s Customer Engagement portfolio, extending their lead with an even more comprehensive offering in the back-office market.
Verint Systems added more capabilities, personnel and reach to our workforce optimization suite that spans the entire enterprise—from back-office departments that help shape the customer experience, to front-office contact centers and branch locations. Together with eg, Verint Systems is focused on empowering employees with the right information to make smarter, faster decisions.
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: 4300
Functional Market: Absence and Leave Management, Workforce Analytics, Workforce Scheduling, Task Management, Time and Attendance, Performance Management,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K166, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Youth and Elderly Care, Special Cause Nonprofit, Oil and Gas, Chemicals, Professional Services, Retail, Transportation, Utilities,
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 | 2020 | 2021 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
| Cloud 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:
| Type | License | Prof. Services | Hardware | Support & Maintenance | SaaS | PaaS | IaaS | Other (Non Enterprise Application Revenues) | Total |
|---|---|---|---|---|---|---|---|---|---|
| % of Total Revenues | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | 100% |
| Revenues, $M | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe | Subscribe |
Verint Systems Inc. HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % | 2021 HCM Revenues, By Sub-Functional Markets, $M | |
Verint Systems Inc. HCM Applications Revenues By Verticals, $M:
Verint Systems Inc. Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2021 Total Revenues, $M | 2021 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
| Region | 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: 10000
No. of Verint Systems Inc. Cloud HCM Customers: x
No. of Verint Systems Inc. Cloud HCM Subscribers: x
Verint's customer engagement solutions are used by approximately 10,000 organizations in 175 countries across a diverse set of verticals, including financial services, healthcare, utilities, technology, and government. Verint's customers include large enterprises with thousands of employees, as well as small to medium sized business (SMB) organizations.
Among Verint's customers are New York Life, Elavon, Technology Services Industry Association, VSP Vision Care, Union Bank, Home Depot, University of Rhode Island, Price Chopper, Mohegan Sun and others.
Verint Systems Inc. Market Opportunities, M&A and Geo Expansions
In December 2021, 8x8 agreed to acquire Fuze, a provider in cloud-based communications for the enterprise. The acquisition will accelerate 8x8 XCaaS (eXperience Communications as a Service) innovation and expand 8x8’s enterprise customer base and global presence. The transaction is expected to close during 8x8’s fourth fiscal quarter, subject to the satisfaction of regulatory approvals and other customary closing conditions.
In July 2019, 8x8 acquired Wavecell Pte.Ltd., a Singapore-based global Communications Platform-as-a-Service (CPaaS) provider, for approximately USD $125 million in cash and stock. The acquisition provides 8x8 with an established technology platform and high-growth revenue business to pursue CPaaS globally and represents a natural expansion of 8x8’s cloud business from Unified Communications-as-a-Service (UCaaS), Contact Center-as-a-Service (CCaaS), and Video into the CPaaS market.
Verint Systems Inc. Risks and Challenges
Verint face aggressive competition from numerous and varied competitors in all of Verint's markets, making it difficult to maintain market share, remain profitable, invest, and grow. Verint are also encountering new competitors as they expand into new markets or as new competitors expand into their.
In December 2019, Verint has announced that it will split into two companies, one of which will consist of its customer engagement business, while the other will consist of its cyber intelligence business. Verint expects to complete the separation shortly after the end of its next fiscal year ending January 31, 2021.
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.
Verint Systems Inc. Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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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).
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