Verint® Systems Executive Interview
Ryan Hollenbeck, Senior Vice President, Global Marketing Customer Experience Program, Verint® Systems
do you attribute Verint’s strong performance?
We have an amazing global team here at Verint, rich in diversity and
talent. We are all truly focused on our
customers and how they can continue to extract value from our solutions to
solve real-world business issues, especially the delicate balance between
improving the customer experience and driving operational efficiency.
Overall, we believe that behind our positive momentum, is demand for actionable
intelligence solutions that help customers capture and analyze massive amounts
of data and derive meaningful insights.
Our market leadership and competitive differentiation are supported by
innovative automation technologies across many specific customer use cases.
UCB, a global biopharmaceutical company working in Parkinson’s disease and
other chronic illnesses. UCB announced a
new mobile app equipped with a conversational, virtual health assistant named
“April,” powered by Verint’s Intelligent
Virtual Assistant solution. April utilizes artificial intelligence
technology to offer continuous support and encourage patient adherence,
transforming the way patients interact with their healthcare provider. This is
a good example of how organizations are looking to deploy automation to drive
deeper relationships with customers as well as of Verint’s strategy of helping
organizations elevate customer experience while keeping operating costs low.
the previous year, we have observed a growing market emphasis on workforce
engagement solutions. Verint was recently named as a leader in Gartner’s Magic
Quadrant for Workforce Engagement Management. What factors led Verint to focus
more closely on customer and workforce engagement?
We continue to believe that the customer engagement market overall, and
workforce engagement management specifically, is thriving. Many industry analysts agree, and the
research you’re referring to here is a good example.
You may have noticed in Gartner’s analysis that they noted that “Verint enables
better employee engagement through enhanced hiring, gamification, coaching,
workflow and VoE capabilities.” These
newer offerings are a sign of our continued focus on innovation. In fact, just within the last 12 months we
had 50 percent growth in patents and applications in the area of
automation. Verint has a large IP portfolio with close to 1,000 patents
and applications out of which close to 200 are related to automation.
The same research also noted that “Verint further promotes engagement with
unique functions in its complementary CEC portfolio, such as knowledge
management, virtual-assistant and community features.” For global companies searching for this
unique combination of solutions, only Verint can offer them across both what
Garter calls “workforce engagement management” and “customer engagement center
for service and support.”
We’ll see what the market has in store for all of us in 2019!
With more organizations paying closer attention to what their customers have
to say, Verint continues to make strides in VoC technology with the
acquisition of ForeSee. How will the melding of ForeSee’s causal
modeling, predictive analytics and benchmarking with Verint’s omnichannel
portfolio enable businesses to learn more about what their customers want?
Along with workforce engagement, self-service and fraud/compliance, voice of
the customer (VoC) is one of our key pillars in the market. In fact, for many organizations when they
think about Verint, they think first about our VoC capabilities (e.g.,
enterprise feedback management, speech/text/social analytics, and now more than
ever since the ForeSee combination – digital feedback.)
The fact is that understating and managing the customer experience (CX) is
changing. A massive amount of today’s
customer interactions happening in digital channels, and many organizations are
asking themselves if they have the best approach to managing the digital
customer experience. The combination of Verint
and ForeSee has created a new standard for CX, marketing and operational
executives who want a unified view of the voice of their customers across
digital, voice, surveys, email, chat and social media. Both Verint and ForeSee
customers will benefit from an innovative vision, backed by the resources and
commitment to building the next generation of VoC solutions for organizations
looking to elevate their customer experience.
Combining ForeSee’s deep digital domain expertise with our automation and
analytics expertise will accelerate our cloud VoC technology innovation and
squarely address the needs of customers to drive better business outcomes by
enhancing the customer experience.
big difference between problem solving for customers and delighting them. While many organizations recognize the
importance of engaging customers, they find it difficult to understand and act
on the entire customer journey. Because of the complexity the emergence of
digital CX and a chief digital officer (CDO) for Customer Experience programs
have surfaced to introduce a more collaborative, overarching, enterprise
approach. These executives want to know
how well they are doing by measuring the satisfaction, loyalty, renewal, and
repurchase intentions of their customers.
They want to understand who within their organizations are having an
impact on customers and what areas of the business need to make improvements.
What have been some of the most surprising developments you’ve seen in
Verint’s more than 25 years in the customer engagement/contact center industry?
There have been many surprises over the years!
The introduction of new technology like analytics, market convergence
across so many players, and the advent of automation that we have today – just
to name a few. Perhaps the most
surprising is how many software companies in our market are no longer
around. As you know, so many software
companies struggle to scale, and do not survive for all of these years.
This year marks a major milestone for our company. Verint is celebrating its 25th anniversary
and it’s been an amazing growth journey.
And we think of this as just the beginning! We have worked hard to lay the foundation for
even greater future success built upon our strong core values, culture of
innovation, passion for customer success and for embracing change and market
As we celebrate our remarkable achievements over the past 25 years, it becomes
clear that our success is driven by adaptability and embracing change– every
year we created many new ideas in pursuit of continuing to disrupt and innovate
in markets, technology and thought leadership.
managed to bring together people from more than 40 different countries, with
highly diversified skills and a passion for growth and innovation – plus we
have made a significant impact on the world and our communities - something we
are very proud of over the years.
your solutions enable companies to reduce fraud and achieve compliance with
Organizations need to look for potential fraud in every customer interaction.
Fraudsters accumulate data through every possible means to create what they
need to take over customer accounts. Our solutions generate intelligence to
identify fraud in real-time, as well as intelligence that can be further
analyzed over time to protect customers, employees and organizations.
Also, ensuring regulatory compliance is expensive and difficult. Our solutions help support compliance in
real-time, as well as bring compliance intelligence together to be analyzed and
acted on in an efficient, effective manner.
One example is financial compliance.
Today, all electronic communications—voice, mobile, SMS, IM, video, file share,
etc.—must be recorded and monitored to maintain compliance in the financial
services industry. However, up until now, recording across all of these modes
has been impossible for financial services organizations. Verint Financial
Compliance takes full advantage of all the capabilities of collaboration tools
by proactively recording every interaction that could lead to a trade.
Financial services organizations can unlock the benefits of state-of-the-art
solutions for collaboration, expanding the ways they work with customers, and
still remain compliant with the most stringent of regulations.
solution delivers capabilities that can prevent non-compliant incidents from
occurring in the first place, outpacing other industry solutions that only
offer capture-and-archive capability. Verint’s offerings help organizations
work proactively to maintain adherence and reduce the cost of compliance.
Verint stay abreast of market demands to help provide solutions that help
organizations handle customer engagement challenges across a broad variety of
first and foremost on our customer advisory boards across each of our core
markets in customer engagement (workforce engagement, self-service, VoC, and
fraud/compliance). They are enormously
helpful in explaining their business challenges and what types of solutions
might be helpful to drive future business value. In addition, we also reply on industry
thought leaders and strategic partners, who are also close to the customer
engagement market and often have great ideas.
The Verint Community is a vibrant place for customers to exchange ideas and
suggest future enhancements to our software to help resolve many of these
business challenges. Our own staff are
also a great source of ideas, both our field engineers who deploy our solutions
as well as others throughout the organization who interact with companies all
over the world.
also conduct our own market research that reveals consumer preferences and
priorities, which we can in turn evaluate for our future roadmap.
What directions do you see the customer engagement industry evolving in over
the next five years?
We see a future in which visionary organizations are
declaring customer engagement a sustainable competitive advantage, essential to
their future success. To get there, they are modernizing customer engagement with
the adoption of open, flexible solutions that support heightened customer
demands, the evolving workforce and ever-changing business dynamics, and that
enable stronger enterprise-wide collaboration.
A lot of this comes down simplifying customer engagement. To keep up with rapid changes in the customer
engagement landscape, organizations need trusted partners and proven solutions
that are easy to own, easy to operate and easy to expand. Increasingly, these
solutions must support collaboration, automation, open interfaces, simple
integrations, and cloud and other deployment models—all key success factors for
driving modern customer engagement with greater simplicity.
One clear example is automation. Organizations
want to increase their speed and efficiency, as well as free up employees at
all levels for more meaningful work. Our solutions enable employees to focus on
more strategic and customer-facing activities, and less on repetitive tasks by
automating routine functions, such as data entry and quality evaluations.
One thing is for sure:
It’s going to be a wild ride!