New Independent Study Demonstrates that Verint Experience
Management Empowers Organizations to Elevate Customer Experience
Through Data-Driven Insights, Providing Nearly $2.5 Million in
Benefits
Verint® (NASDAQ: VRNT), The Customer Engagement Company™, today
released a commissioned study conducted by Forrester Consulting on
The Total Economic Impact™ (TEI) of Verint Experience Management™
(XM) solutions, part of the Verint Customer Engagement Cloud
Platform™.
It’s imperative that organizations understand customer behavior
to take the necessary actions to improve the customer experience.
Verint XM solutions help companies collect feedback, analyze
trends, and take actions based on data-driven customer insights,
using automation, predictive modeling, and artificial intelligence
(AI) to unlock deeper insights and analyze customer data at
scale.
The Forrester TEI study examined the potential return on
investment (ROI) and business benefits organizations may realize by
deploying Verint XM solutions. Through customer interviews and
financial analysis, Forrester found that in a three-year timeframe,
a composite organization experiences benefits of $2.49 million
versus costs of $781,000, to realize a 219 percent return on
investment over three years.
Examples of benefits include:
- Decreased online order abandonment, adding $1.1 million from
revenue improvements.
- Improved product fulfillment practices, yielding $1.3 million
from avoided returns.
- Streamlined feedback analysis and reporting efficacy, totaling
$149,000 in financial benefit.
- Improved CSAT scores up to 80 percent and increased Net
Promoter Scores (NPS)* up to 15 points.
Prior to using Verint XM, interviewees noted how their
organizations struggled to collect customer feedback in a
streamlined and unified way. The feedback mechanisms that
interviewees had in place were often limited or lacking in
sophistication. At the same time, the previous processes and
systems used to analyze customer data were often siloed, which
meant that reviewing and consolidating feedback was time-consuming
and disjointed.
Notably, after the investment in Verint XM, the interviewees
felt like they had a clearer understanding of the key customer
feedback trends affecting their business. With this deeper level of
customer insights, decision-makers were able to know which issues
were impacting customers the most and could then prioritize what
actions to take to troubleshoot problems and improve the customer
experience.
The study also reveals additional benefits to organizations
using Verint XM, including:
- Improved customer experience – By responding to customer
feedback and acting quickly to alleviate customers’ concerns,
interviewees saw improvements in customer satisfaction metrics, Net
Promoter Scores, and brand loyalty program membership. Interviewees
felt that these trending improvements in customer experience (CX)
metrics were at least partly attributable to the customer insights
gained through Verint XM technologies.
- Enhanced messaging and marketing tactics – Interviewees
recalled multiple examples of how Verint XM allowed them to test
and adjust their marketing messaging and ad placement. The ability
to assess customer feedback in real time helped interviewees to
quickly course correct accordingly.
“Understanding customer interactions and experiences across all
channels and engagement touch points continues to be a business
priority to drive growth and build loyalty,” says Verint’s David
Singer, vice president, GTM strategy. “With Verint XM solutions,
our customers can ‘see’ everything and can leverage customers
insights to create a holistic, cross-channel view that improves CX
and drives better business decisions. We’re proud of our continued
partnership with Forrester to share the compelling business
benefits and cost savings that Verint’s Customer Engagement Cloud
Platform enables for our customers.”
Verint will present a one-hour webinar at 2 p.m. ET on Nov. 17
on the TEI study findings and how this ROI can be achieved.
Featured speakers include Judy Weader, senior analyst, and Leigh
Greene, TEI consultant, Forrester, and Verint’s Avanti Joglekar,
senior content manager and Aditi Mehta, director, go-to-market. To
register, visit Forrester TEI Verint Experience Management
webinar.
For more information on the Total Economic Impact™ of Verint
Experience Management solutions, download the complete study.
About Verint
Verint® (Nasdaq: VRNT) helps the world’s most iconic brands –
including over 85 of the Fortune 100 companies – build enduring
customer relationships by connecting work, data and experiences
across the enterprise. The Verint Customer Engagement portfolio
draws on the latest advancements in AI and analytics, an open cloud
architecture, and The Science of Customer Engagement™ to help
customers close The Engagement Capacity Gap™.
Verint. The Customer Engagement Company™. Learn more at
Verint.com.
*Net Promoter, Net Promoter System, Net Promoter Score, NPS and
the NPS-related emoticons are registered trademarks of Bain &
Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.
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, 2022, 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, VERINT DA VINCI, THE CUSTOMER ENGAGEMENT COMPANY,
BOUNDLESS CUSTOMER ENGAGEMENT, THE ENGAGEMENT CAPACITY GAP and THE
SCIENCE OF CUSTOMER ENGAGEMENT are 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/20221101005235/en/
Media Relations Sue Huss sue.huss@verint.com
Analyst Relations Ryan Zuk ryan.zuk@verint.com
Investor Relations Matthew Frankel
matthew.frankel@verint.com
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