Verint® Systems (NASDAQ: VRNT) today announced that American
Eagle Federal Credit Union (AEFCU)--a full-service, not-for-profit
financial institution--is experiencing business and operational
benefits from Verint’s GMT™ workforce management (WFM) software.
The federal credit union is using the technology to create flexible
schedules and minimize overtime.
AEFCU selected the workforce management solution based on its
advanced forecasting and modeling capabilities. Within the first
six months of implementation, its branch managers immediately
gained a new level of visibility, enabling them to identify which
locations were overstaffed, the transaction volumes and tasks
taking place at each branch, and the modifications needed to align
staffing levels accordingly.
Using the software’s predictive forecasting information, AEFCU
reports that its branch staffing schedules have been fine-tuned to
better meet demand and to improve flexibility by increasing the
ratio of part-time to full-time workers from 16 percent to 25
percent. Within the first year, the financial institution reduced
branch overtime by more than 86 percent. By the second year, that
figure jumped to more than 96 percent. Further, across the two year
period, AEFCU reduced full-time employee (FTE) costs by 14 percent
through natural attrition and better forecasting.
“In the early stages of our technology search and review, we
realized the need for a solution that offered extensive predictive
capabilities, rather than one that resembled an Excel spreadsheet,”
says Kevin Murray, vice president of branch operations and
administration at American Eagle Federal Credit Union. “We spoke
with other credit unions that were using the same WFM solutions we
were evaluating. The feedback from these conversations made it
clear—Verint’s GMT workforce management software was worth the
investment to help meet both our staff scheduling needs, as well as
manage the rising costs of additional branches.”
The WFM solution, which AEFCU purchased in December 2008, offers
a unique, easy to understand graphical interface known as “workload
fit.” It provides measurement of how closely workforce supply
matches member service demand. Branch managers can easily determine
whether they are overstaffed, which results in excellent service at
a higher cost of service, or understaffed, which results in
diminished member satisfaction. By optimizing its workforce and
workload, AEFCU was able to utilize all resources to forecast full-
and part-time branch staff by adjusting staff schedules, managing
absences and generating reports with ease.
“With increasing cost pressures and a growing focus on member
satisfaction, credit unions are turning to technology for creative
solutions,” says Simon Angove, senior vice president of retail
financial services, Enterprise Intelligence Solutions, Verint. “A
workforce management system can help credit unions, such as AEFCU,
deliver a better member experience at a much lower cost of
labor.”
AEFCU remains the largest community credit union in Connecticut
with plans for two additional branches in the next year. “We’ve
experienced dramatic improvements in workforce scheduling using the
Verint-GMT solution,” adds Murray. “The software has paid for
itself in full through the first year of savings alone and is a
testament to the benefits of implementing a flex schedule.”
About Verint Enterprise Intelligence Solutions
Verint® Enterprise Intelligence Solutions™ help organizations of
all sizes capture and analyze customer interactions, sentiments and
trends across multiple channels, improve performance and optimize
the customer experience. The solution portfolio includes the Impact
360® Workforce Optimization™ suite and Voice of the Customer
software, which serve as strategic enterprise assets for increasing
customer satisfaction and loyalty, enhancing products and services,
reducing operating costs and driving revenue.
About Verint Systems Inc.
Verint® (NASDAQ: VRNT) is the global leader in Actionable
Intelligence® solutions and value-added services. Its extensive
portfolio of Enterprise Intelligence Solutions™ and Security
Intelligence Solutions™ helps worldwide organizations capture and
analyze complex, underused information sources—such as voice, video
and unstructured text—to enable more timely, effective decisions.
More than 10,000 organizations in 150 countries, including over 85
percent of the Fortune 100, use Verint solutions to improve
enterprise performance and make the world a safer place.
Headquartered in N.Y. and a member of the Russell 3000 Index,
Verint has offices worldwide and an extensive global partner
network. Learn more at www.verint.com.
This press release contains forward-looking statements,
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 our Annual Report on Form 10-K for the year ended
January 31, 2011 and our Quarterly Report on Form 10-Q for the
quarter ended October 31, 2011. 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.
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INTELLIGENCE FOR A SMARTER WORKFORCE, VERINT VERIFIED, WITNESS
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EQUALITY, CONTACTSTORE, and CLICK2STAFF are trademarks or
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Other trademarks mentioned are the property of their respective
owners.
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