Co-sponsored Research Reveals Trends on the Evolving Customer
and Demands for More Personalized Experiences from Contact
Centers
Verint® (NASDAQ: VRNT), The Customer Engagement Company®, and
Five9, Inc. (NASDAQ:FIVN), the Intelligent CX platform provider,
today announced the findings of a co-sponsored survey to better
understand the evolution of the modern contact center as consumer
habits continue to change and expectations continue to rise.
According to The Evolving Role of the Contact Center: Putting AI
and CX at the Heart of CX Delivery survey, nearly half of the 250
contact center leaders surveyed said managing an increasing volume
of customer interactions is one of their company’s top three
business challenges related to customer engagement. The findings
revealed that larger companies (2,500 or more contact center
employees) are nearly three times more likely to store engagement
data in multiple silos. Larger companies also engage with customers
on at least four channels, so bringing together the data from
customer interactions is more difficult.
“Increased customer interaction volume and the proliferation of
channels has created a massive amount of engagement data,
transforming the contact center from a main source for company and
product information into a goldmine of insights into consumer
needs, behaviors and customer experience challenges,” says Verint’s
Celia Fleischaker, chief marketing officer. “Organizational leaders
need to find ways to unify and harness this data so they can
deliver a more personalized and connected customer experience.”
A Unified Hub is a Must
Bringing all the data together is only one piece of the puzzle –
the next step is to easily derive insights from this data. Contact
center leaders from smaller companies (500 to 2,499 contact center
employees) have challenges when trying to derive meaningful
insights from their engagement data – 46 percent cited a limited
budget as one of their top business challenges. The majority of
them (87%) have the data in one place but need to find a
cost-effective way to utilize it.
“Contact centers have a unique opportunity to position
themselves as a valuable data resource within the broader
organization. Having disparate data systems and siloing information
that could improve business operations leads to tremendous
inefficiency,” said Dan Burkland, president, Five9. “Enterprises
cannot afford to delay integrating modern applications. Integrating
AI and automation offers agents a relief from the volume of
incoming calls, providing them with the information they need to
offer a joyful experience. Effective management and visibility of
engagement data can transform your contact center customer
experience and make a big impact across the entire customer
journey.”
Unifying engagement data in a single place is the first step to
enriching a company’s customer experience (CX) strategies with
real-world insights – something that larger organizations must get
a handle on to extract meaningful and holistic customer
insights.
Some smaller companies are working with limited budgets, but
investing in solutions such as text and speech analytics can enable
them to make better-informed, data-driven decisions and generate
more revenue.
Intelligent use of engagement data can enable brands to improve
customer experiences, drive better customer lifetime value, and
ultimately deliver better return on investment.
Evolving the Contact Center with AI and Analytics
The research shows that many organizations are already aware of
the changes that need to be made in their contact centers in
response to customer demand and are adapting the structure of their
operations.
- Omnichannel Engagement: Email and phone are universal
channels, but social media, live chat, and private messaging now
play a major role in customer interactions. Consumers want to
engage on their channel of choice, and contact center leaders need
to ensure that’s possible without decreasing the quality of
CX.
- Easing the Pressure on Agents: Managing the increased
volume of customer interactions is a challenge for 48 percent of
respondents. To help address this, nearly 90 percent of respondents
are leveraging conversational AI so that chatbots can handle many
queries without escalating to a human agent.
- Maximizing Contact Center Efficiency: The struggle to
find qualified staff leaves contact center executives needing to do
more with fewer resources. Through implementing purpose-built bots
across workforce management (WFM), performance management, and
knowledge management solutions, they are leveraging AI to increase
efficiency without sacrificing quality.
Unlocking the potential of customer engagement data is the key
to building a contact center that elevates the employee and
customer experiences—organizations need the right blend of AI
solutions and open data access to solve the challenges of digital
customer engagement.
To learn more, download the full research report here.
Methodology
A total of 250 phone surveys were conducted among contact center
leaders in the U.S. between April 26, 2023, and May 30, 2023.
Survey participants were screened based on size of their contact
center (at least 500 contact center employees/seats across all
locations) and title (role of director, executive vice president,
senior vice president, executive vice president or C-level
executive were required).
About Five9
The Five9 Intelligent CX Platform provides a comprehensive suite
of solutions for orchestrating fluid customer experiences. The
cloud-native, multi-tenant, scalable, reliable and secure customer
interaction platform includes contact center; omni-channel
engagement; Workforce Engagement Management; extensibility through
more than 1,000 partners; and innovative, practical AI, automation
and journey analytics that are embedded as part of the platform.
Five9 brings the power of people, technology and partners to more
than 2,500 organizations worldwide.
About Verint
Verint® (NASDAQ: VRNT) helps the world’s most iconic brands
continuously elevate the customer experience (CX) and reduce
operating costs. More than 10,000 organizations in 175 countries –
including over 85 of the Fortune 100 companies – rely on Verint’s
open customer engagement platform to harness the power of data and
AI to maximize CX automation.
Verint. The Customer Engagement Company®. Learn more at
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, 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, 2023, 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, VERINT OPEN CCAAS, THE CUSTOMER
ENGAGEMENT COMPANY, BOUNDLESS CUSTOMER ENGAGEMENT, AND THE
ENGAGEMENT CAPACITY GAP 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/20230815795817/en/
Media Relations Sue Huss for Verint
sue.huss@verint.com
Suzie Linville for Five9 Suzie.Linville@five9.com
Investor Relations Matthew Frankel for Verint
matthew.frankel@verint.com
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