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 March 2023, Verint expanded its collaboration with Google Cloud to enhance contact center performance by integrating Google Cloud’s Contact Center AI (CCAI) with Verint's Customer Engagement Platform.
Verint's open architecture allows for seamless integration of its customer experience (CX) automation solutions with Google Cloud’s CCAI platform. This partnership aims to address the "Engagement Capacity Gap" by leveraging CX automation, providing organizations with critical capabilities for optimal performance. The platform-to-platform approach offers organizations access to best-of-breed solutions, delivering unified, open platforms with AI-driven integrations. These integrations ensure quality, compliance, and efficient routing, orchestration, and scheduling of agents, ultimately leading to improved customer satisfaction (CSAT). Additionally, Verint is expanding the range of pre-built integrations across its other customer engagement solutions and making Verint Workforce Engagement and CX solutions available on the Google Cloud Marketplace. This move allows for seamless procurement and consolidated billing through a single channel, further enhancing the partnership's value proposition.
Verint Systems Inc. Mergers and acquisitions (M&A) Activities
In early 2023, Verint augmented its Customer Engagement Platform by integrating Appointment Scheduling Capabilities from Qudini. This acquisition enables Verint to offer enhanced functionalities to assist brands in bridging the Engagement Capacity Gap - the disparity between the increasing customer expectations and the available resources for meeting them. Leveraging the open architecture of the Verint Platform, organizations can seamlessly incorporate Qudini's appointment scheduling and management technology. This integration empowers businesses to optimize resource allocation and investments across their contact centers, branches, and stores.
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 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: Workforce Analytics, Scheduling, Task Management, Performance Management,
Key Verticals: Automotive, Banking and Financial Services, Communications, Real Estate, Consumer Packaged Goods, Distribution, K12, 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 | 2022 | 2023 | 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 | 2023 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 | 2023 Total Revenues, $M | 2023 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: x
No. of Verint Systems Inc. Cloud HCM Customers: x
No. of Verint Systems Inc. Cloud HCM Subscribers: x
Verint's customer engagement solutions are adopted by roughly 10,000 organizations spanning 175 countries, representing a broad spectrum of industries such as financial services, healthcare, utilities, technology, and government. Its clientele encompasses both large enterprises with expansive workforces and small to medium-sized businesses (SMBs). Noteworthy among Verint's diverse clientele are esteemed entities like New York Life, Elavon, Technology Services Industry Association, VSP Vision Care, Union Bank, Home Depot, University of Rhode Island, Price Chopper, Mohegan Sun, and numerous others.
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
Migration to the cloud is currently underway and ongoing.
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.
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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- Verint Systems Inc. Public Cloud and Infrastructure (IaaS)
- Verint Systems Inc. Platform (PaaS)
- Verint Systems Inc. Application Delivery
- Verint Systems Inc. Private Cloud and Data Centers
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
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