We are happy to share some insights about Verint drawn from our latest Value Index research, the 2023 Ventana Research Value Index: Customer Experience Management, which assesses how well vendors’ offerings meet buyers’ requirements.
In all of our Value Indexes, we utilize a structured research methodology built on evaluation categories designed to reflect real-world criteria and derived from RFP responses and a vendor selection process for analytics and business intelligence. We evaluated Verint and 21 other vendors in seven categories, five relevant to the product — Adaptability, Capability, Manageability, Reliability and Usability — and two related to the vendor — TCO/ROI and Vendor Validation. To arrive at the Value Index rating for a given vendor, we weighted each category to reflect its relative importance in an RFP process, with the weightings based on our experience and on data derived from our Benchmark Research on Customer Experience (CX).
Verint is a provider of software for contact center operations, including workforce engagement, customer analytics and data management. It was categorized as an Exemplary Vendor, ranking third overall in this Value Index evaluation. It was designated as an Overall Value Index Leader and a Value Index Leader in the Product Experience category (placing third). Verint ranked first in Adaptability and second in Manageability and Usability, earning a Value Index Leader designation in all three categories.
Verint has pivoted to include back-office applications, extensive platform services, multi-departmental analytics and experience data-management capabilities. The Verint Engagement Platform includes the Da Vinci AI and Analytics tool and Engagement Data Hub. Atop the platform are components for overall experience management, digital engagement and workforce engagement.
Verint’s overall leadership stems from strong performances across the Product and Customer Experience categories. One area of potential improvement is in TCO/ROI, where the company can examine the set of tools it provides to help customers build a strong internal business case and evaluate overall costs. To boost its performance in Capability, Verint should consider expanding the range of marketing analytics available in the system and how it encourages customers to construct inter-departmental workflows.
This assessment was based on Verint’s customer experience management (CXM or CEM) products available in September of 2022. Since this evaluation, Verint has enhanced both the case management and knowledge management features of its Engagement Orchestration product.
Verint, like all vendors in this space, should continue working towards a holistic, integrated CX platform that addresses the needs of users across the enterprise. Connecting workflows from marketing, sales and service teams should be a key priority.
This research-based index is the most comprehensive assessment of the value of CXM software in the industry. Technology buyers can learn more about how to use our Value Index by clicking here and included vendors that wish to learn more can click here. Read the report here.