Verint® Systems Inc., a global leader in Actionable Intelligence has acquired Contact Solutions a leading provider of real-time, contextual customer care solutions. With more than 10,000 organizations in over 180 countries, including over 80 percent of the Fortune 100, Verint has already made it’s mark in the Actionable Intelligence sector.
On the other hand, Contact Solutions had a focus on customer engagement to help reduce effort through highly personalized self-service and agent-assisted experiences. Leveraging business intelligence to continually improve and optimize customer care, it helped enterprises achieve superior results at sustainable cost, while adapting rapidly to the ever changing customer demands.
With this acquisition, Verint is furthering strengthening its product solutions in three important areas of the actionable intelligence market: customer engagement optimization; security intelligence; and fraud, risk and compliance and empowering organizations with crucial insights, enabling decision makers to anticipate, respond and make more informed, effective and timely decisions.
This acquisition advances the Verint Customer Engagement Optimization™ portfolio with the addition of cloud-based solutions that enhance voice and mobile self-service through automation and analytics-driven personalization. By joining Contact Solutions’ strong self-service capabilities with its advanced customer analytics, engagement management and workforce optimization solutions, Verint is extending omni-channel engagement across the enterprise. Thus, it will increase the value proposition that customers of both companies receive.
The need for omni-channel customer engagement is the result of the dramatic increase in consumer and business use of social networks, mobile devices and new digital technologies. “We believe demand for innovative solutions is being driven in organizations by the need for intelligence that enables them to create more engaged workforces and more seamless, personalized customer experiences,” commented Elan Moriah, president Verint Enterprise Intelligence Solutions, Verint Video and Situation Intelligence Solutions.
To understand the value of delivering personalized and contextually relevant interactions that enhance the customer experience and heighten loyalty. Verint will provide personalised solutions through a robust set of analytics by Contact Solutions’ personalization engine, that analyzes and adapts call flow and the pace of interactions based on caller behavior.
The combination with Contact Solutions also will add functionality to Verint’s solution set focused on mitigating risk, identifying fraud and reducing loss. For instance, Contact Solutions’ capabilities complement Verint Identity Authentication and Fraud Detection™, the innovative technology that delivers passive voice biometrics to profile and recognize the voiceprints of fraudulent callers—while making caller authentication faster, easier and more secure. Backed by advanced analytics, Contact Solutions brings advanced “upstream fraud detection” functionality that can identify suspicious caller behavior within voice self-service interactions. As potentially threatening interactions surface, red flag detection alerts users to problems and tailors appropriate responses.
Hence, this acquisition is a new milestone that will lead to the amalgamation of actionable intelligence with customer engagement optimization and transform the end-to-end customer engagement of the organisations. However, how this amalgamation will take analytics sector to new heights and what new innovative products will stem out of this acquisition is what remains to be seen.