Ovum Recognizes Verint’s AI-Powered IVA for Technological
Innovation, Ability to Speak the Consumer’s Language, Depth of
Tools and Service, Easy Integration with Back-End Systems
Verint® Systems Inc. (Nasdaq: VRNT), The Customer Engagement
Company™, today announced it has been named a leader by industry
analyst firm Ovum in Intelligent Virtual Assistant (IVA) solutions
in a comparison report, Ovum Decision Matrix: Selecting an
Intelligent Virtual Assistant Solution, 2020-21*.
Reviewing IVAs that leverage artificial intelligence (AI) to
provide natural, human-like interactions with consumers, the report
concludes the new tools “make a massive difference to customer
engagements” compared with legacy, non-intelligent IVAs.
Verint Intelligent Virtual AssistantTM—part of Verint Customer
Engagement Cloud portfolio—is among the best, according to the
report. It was recognized for three key strengths:
- Verint’s language models. The natural language
understanding/natural language processing (NLU/NLP) models include
a library built from actual consumer self-service conversations,
including 1.6 million user intent patterns gathered over the past
two decades working across 11 different industries and hundreds of
use cases. According to the Ovum report, the data improves time to
market in deploying a new IVA solution.
- Verint’s technological lead. Advanced machine learning
(ML) techniques combined with Verint’s NLU/NLP semantic models
offer advantages such as an AI Blueprint, which helps enterprises
uncover consumer intent and align automation strategies with
business goals and user needs.
- Verint’s depth of tools and service. Other solutions in
Verint’s portfolio complement the IVA, including Knowledge
Management (KM) and Experience Management (XM) solutions that
gather and mine feedback across human and self-service
interactions.
Impressive strides in IVAs
“The strides that leading vendors have made in IVAs in recent
years are impressive,” says Ovum Distinguished Analyst, Michael
Azoff, author of the report. “In the vendors’ customer use cases we
studied, for example, it was typical to hear of million-dollar
range cost savings by introducing IVAs (calculated as cost per
call), bringing ROI within the first year.”
One of those use cases was provided by Verint, with a story of a
financial trading firm using the IVA to support more than 15,000
financial analysts and traders, answer 27,000 consumer questions
daily, and save over $1 million in “how to” costs alone.
Customer engagement across digital channels
The Verint IVA enables companies to engage customers in digital
channels, including the web, mobile, social and online communities.
Customers can interact naturally through conversations instead of
self-service menus and forms. Comprehending contextual information,
Verint IVA provides personalized answers based on a customer’s
prior purchases, location and other factors. Customers gain higher
goal completion rates with a user experience that’s better, smarter
and faster.
“Verint elevates both customer experience and workforce support
by delivering immediate, efficient and powerful AI-based solutions
across voice and digital channels,” says Verint’s Michael
Southworth, general manager, intelligent self-service. “Our
conversational AI platform provides enterprises with the
capabilities and sophistication to achieve their vision of AI
beyond proof-of-concept by supporting all of their automation use
cases in production. We’re proud of this latest recognition for our
technology and Ovum’s assessment of how our IVA solutions stand up
amongst the competition.”
To learn more about Verint IVA, click here.
About Verint Systems Inc.
Verint® (Nasdaq: VRNT) is a global leader in Actionable
Intelligence® solutions with a focus on customer engagement
optimization and cyber intelligence. Today, over 10,000
organizations in more than 180 countries—including over 85 percent
of the Fortune 100—count on intelligence from Verint solutions to
make more informed, effective and timely decisions. Learn more
about how we’re creating A Smarter World with Actionable
Intelligence® at www.verint.com.
* Source: Ovum Consulting, Ovum Decision Matrix: Selecting an
Intelligent Virtual Assistant Solution, 2020-21, published Dec.
2019.
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, uncertainties and assumptions, 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 fiscal year ended January 31, 2019, our Quarterly
Report on Form 10-Q for the quarter ended October 31, 2019, and
other filings we make with the SEC. 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, Verint assumes no
obligation to update or revise them or to provide reasons why
actual results may differ.
VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT
COMPANY, CUSTOMER ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE
SOLUTIONS, GI2, FIRSTMILE, OMNIX, WEBINT, LUMINAR, RELIANT,
VANTAGE, STAR-GATE, TERROGENCE, SENSECY, and VIGIA are trademarks
or registered trademarks of Verint Systems Inc. or its
subsidiaries. Verint and other parties may also have trademark
rights in other terms used herein.
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version on businesswire.com: https://www.businesswire.com/news/home/20200204005089/en/
Media Relations Amy Curry Verint Systems Inc.
amy.curry@verint.com
Analyst Relations Ryan Zuk Verint Systems Inc.
ryan.zuk@verint.com
Investor Relations Alan Roden Verint Systems Inc.
alan.roden@verint.com
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