Saturday, May 23, 2009

“Mainstream” Speech Analytics

Recently Verint announced a new offering for the "mainstream" market. Many people do not understand the importance of this announcement.

For years we are pushing speech anlaytics to the market and the adoption cycle is pretty long and thus maybe expensive. It requires experts to learn the system and get th best out of it. Eventually there are many success stories for speech analytics. However for a technology to become widely use there is a need for additional simplicity - make sure it can be operated by laymen, work out of the box and provide benefits without much learning. This is exactly the step that Verint is taking with the new system and I bet it will overachieve any other offering in the market.

If you consider deploying a speech analytics solution, even for a small contact center - this should be your first alternative.

 Verint Systems Inc.

Verint Witness Actionable Solutions Takes Speech Analytics “Mainstream” with New Impact 360 Speech Analytics Solution

Breakthrough Technology Enables Cost-Effective Deployment of Speech Analytics, Helping Companies React Rapidly to Changes in Customer Behavior, Reduce Expenses and Enhance the Customer Experience

New Speech Analytics “Essentials” Solution Enables Small and Medium-Sized Contact Centers to Attain Speech Analytics Benefits Previously Out of Reach

Driving Innovation 2009
Verint Witness Actionable Solutions’ 13th Annual Global User Conference
Loews Lake Las Vegas Resort, Nevada

LAS VEGAS & MELVILLE, N.Y.--(BUSINESS WIRE)--Verint® Systems Inc. today announced the availability of its new Impact 360® Speech Analytics solutions. Simple and cost effective to deploy, the software from Verint® Witness Actionable Solutions® is bringing speech analytics technology into mainstream contact center operations without costly setup overhead, lengthy consulting engagements and the need for interpretation by separate analyst staff.

The new Impact 360 Speech Analytics enables businesses to mine recorded customer interactions to surface the intelligence essential for building effective cost containment and customer service strategies. Designed to provide rapid insight into changes in customer behaviors and patterns, the solution can deliver value right out-of-the-box by helping remove guesswork from the customer service equation. Impact 360 Speech Analytics proactively identifies call drivers — along with the related product, process and service issues that often originate in areas outside the contact center, such as back-office functions — emerging trends, opportunities and competitive influences, and can then make that business intelligence available enterprise-wide.

The newly introduced Impact 360 Speech Analytics Essentials solution enables businesses with small to medium-sized contact centers to cost-effectively achieve these speech analytics benefits that were previously out of reach.

“We believe this is a technological breakthrough that has the potential to create a new wave of adoption for speech analytics, breaking down previous barriers to entry, such as set-up and configuration,” explains Nancy Treaster, senior vice president and general manager, Verint Witness Actionable Solutions. “We know that the contact center holds a wealth of valuable business intelligence, and speech analytics is an automated, powerful solution that can help companies not only get to that information, but then determine what actions to take. Impact 360 Speech Analytics Essentials allows organizations with small and medium-sized centers to analyze captured conversations and rapidly benefit from valuable insight.”

Robust, New Functionality Extends Verint Leadership in Analytics

The patent-protected Impact 360 Speech Analytics Essentials, and the Impact 360 Advanced Speech Analytics solution, leverage both phonetics and LVCSR recognition — the best combination of both speed and accuracy — adding meaning and context to every word and phrase identified in every call processed without predefinition of terms.

Key, patent-pending functionality featured in Impact 360 Speech Analytics Essentials, as well as Verint’s Impact 360 Advanced Speech Analytics solution, is driven by the company’s proprietary Complete Semantic Index™ technology that features such functionality as:

  • Automated Trend Analysis, Surfacing Changes in Customer Behaviors

Using hundreds of thousands of term and phrase combinations, the new Complete Semantic Index automatically identifies significant changes in customer behavior as expressed within recorded customer interactions. Such changes are proactively surfaced by the software’s Automated Trend Analysis, which identifies increases or decreases in terms and phrases used during customer/agent conversations. Delivered daily, trend reports can be tracked for up to 18 months.

  • Guided Search and Context Visualization

With the Complete Semantic Index, users do not need to know in advance what terms to search. Intuitive search engine-like, guided search capabilities — including contextual suggestions and search visualization functionality — help business users find relevant calls quickly to determine the underlying causes of rising call volumes, costs and customer dissatisfaction.

  • Analytics-Driven Unification with Workforce Optimization Suite Via Native Integrations

The Impact 360 Speech Analytics solutions, part of Verint’s patent-protected, unified Impact 360 Workforce Optimization suite, can use the content of captured customer interactions to route contacts of interest to users throughout the enterprise, such as quality supervisors, marketing managers and customer retention teams.

“We’re excited to introduce this solution, as Verint is fulfilling a critical market need in enabling businesses with small and medium-sized centers to reap the same type of intelligence that their larger counterparts have used for years — all at an attractive price point, and at a time in our economy in which cost containment, retention and the customer experience are paramount,” adds Treaster.

Specifications and Availability

Optimally sized for centers with 50 to 300 agent seats, Impact 360 Speech Analytics Essentials can operate on a single box. As businesses’ needs change and grow, the solution can be easily upgraded to Verint’s advanced speech offering designed for larger centers, scaling up to 50,000 seats.

In addition to the new Complete Semantic Index, Automated Trend Analysis and Guided Search functionality, the Impact 360 Advanced Speech Analytics solution for larger center operations includes Automated Root Cause Analysis with patent-pending TellMeWhy™ functionality. With this capability, the solution can identify potential underlying drivers of specific call types, such as customer complaints or long calls, prioritize the top five root cause groups and automatically suggest the top instigators for each call set.

The Impact 360 Advanced Speech Analytics solution also features Speech Analytics-driven Scorecards designed to help centers better manage performance by balancing cost drivers with customer satisfaction drivers. Peer-based agent comparisons factor in key performance indicators (KPIs), such as customer complaints and repeat call drivers, that are identified from speech analytics results, along with proactive alerts on defined thresholds. Other functionality includes native business integrations with Impact 360 Quality Monitoring’s Smart Inbox— which delivers recorded interactions directly to the desktop based on defined criteria that can include speech analytics categories — and Impact 360 Data Analytics, which analyzes call attributes to help uncover contact scenarios that can positively or negatively impact organization and/or individual KPI achievements.

About Verint Witness Actionable Solutions

Verint® Witness Actionable Solutions® is the leader in analytics-driven workforce optimization software and services. Its solutions are designed to help organizations capture customer intelligence, uncover business trends, discover the root cause of employee and customer behavior, and optimize the customer experience. From contact centers to remote office, branch and back-office operations, its award-winning, next-generation Impact 360® Workforce Optimization suite is the industry’s most unified solution set — featuring quality monitoring and recording, workforce management, speech analytics, data analytics, customer feedback surveys, performance management, eLearning and coaching. Impact 360 helps improve the entire customer service delivery network, powering the right decisions to help ensure service excellence and transform organizations into customer-centric enterprises.

About Verint Systems Inc.

Verint Systems Inc. (VRNT.PK), headquartered in Melville, New York, is a leading provider of Actionable Intelligence® solutions for an optimized enterprise and a safer world. Today, more than 10,000 organizations in over 150 countries rely on Verint solutions to perform more effectively, build competitive advantage and enhance the security of people, facilities and infrastructure. Visit us at our website

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on September 10, 2007, as supplemented by our Current Reports on Form 8-K filed on November 5, 2007, January 16, 2008, and April 9, 2008 and the Form NT-10Q filed on April 16, 2009. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, the Company assumes no obligation to update or revise them or to provide reasons why actual results may differ.