Richard Snow's Analyst Perspectives

Verint Adds Robotic Process Automation to Its Portfolio

Posted by Ventana Research on Sep 9, 2016 9:22:52 AM

Verint is an established vendor of workforce optimization products that was the top-ranked vendor in our 2015 Workforce optimization Value Index. However, like many other large vendors in this category, its product portfolio and capabilities extend beyond workforce optimization; indeed, from a glance at its home page it is not immediately obvious that workforce optimization is a main part of its portfolio. The portfolio includes actionable intelligence, customer engagement optimization, security intelligence, and fraud prevention, risk management and compliance. Workforce optimization is a key component of customer engagement optimization, as are process automation and an employee desktop system, both of which can make interaction handling and associated processes more efficient. Recently the company announced two new products that enhance these capabilities: Verint Robotic Process Automation and Verint Process Assistant.

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Topics: Operational Performance Management (OPM), Call Center, Customer Performance Management (CPM)

Three Tools to Boost Omnichannel Customer Experience

Posted by Richard Snow on Nov 17, 2015 2:07:57 PM

Much is written about omnichannel customer experience, and various software vendors now claim to focus on the customer experience. With various degrees of credibility they range from providers of communication channel management to workforce optimization, voice of the customer, self-service, analytics and even CRM. This bandwagon raises the question of what  omnichannel customer experience really is and how companies can achieve it. Our benchmark research into next-generation customer engagement shows that consumers now engage with companies through as many as 17 channels of engagement though companies on average support six. The research also shows that every business group, with the exception of IT, engages with prospects and customers at different times during the customer life cycle. Customers today, we know, are more demanding than ever. They want to choose the channel and time of engagement. They want the process to be easy, and they want to be recognized so responses can be personal to them. They expect consistent responses regardless of channel and not to have to repeat actions if they change channels. They want agents empowered to resolve an issue at the first try. Finally, at the end of the interaction they want to feel good about how it went and the outcome.

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Topics: Big Data, Customer Analytics, Customer Engagement, Customer Experience, Operational Performance Management (OPM), Speech Analytics, Analytics, Business Collaboration, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, Customer Performance Management (CPM), Sales Performance Management (SPM), Text Analytics

Subscriber Experience Impacts Recurring Revenue

Posted by Ventana Research on Nov 8, 2015 11:19:15 AM

The digital economy has changed the way many companies provide products. Some no longer deliver packaged products but provide them as services over a network, typically the Internet. Telecommunications providers in particular are familiar with this business model and have developed processes and systems that use innovations such as product bundles that include elements of fixed charges (such as cost of installation) and variable charges based on usage (such as the number of calls made) and means of registering customers on the network, collecting usage data, invoicing and collections. This model has been adopted increasingly by the software industry, replacing a single license fee and maintenance charges for on-premises products with software as a service in which users access products over the Internet and pay per user and/or for usage. Adoption of this model by other types of business has led them to think of customers as subscribers.

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Topics: Big Data, Customer Analytics, Customer Engagement, Customer Experience, Marketing, Operational Performance Management (OPM), Analytics, Cloud Computing, Customer Service, CRM, Customer Performance Management (CPM), Financial Performance Management (FPM), Sales Performance Management (SPM)

Is NPS the Best Measure of Customer Experience?

Posted by Ventana Research on Jul 29, 2015 8:24:16 AM

Recently my colleague Tony Cosentino wrote an analyst perspective asserting that big data analytics will displace net promoter score (NPS) for more effectively measuring the entire customer experience. This prompted a response from Maxie Schmidt-Subramanian, asserting that big data and NPS aren’t the only ways to measure customer experience success. The main point of Tony’s piece, as I interpret it, is that NPS is just a number, but big data analytics can reveal much more about customer behavior and intentions, and it can link these to business outcomes. On the other hand Maxie argues that whether or not companies use NPS, when it comes to measuring the customer experience, they rely too much on surveys and no one metric does the entire job. While to a large extent I agree with both arguments, from a business perspective I don’t think either addresses three very important questions. The first is what actually is the customer experience? Second, how should it be measured? And third, what is the best use of big data in relation to customer experience?

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Topics: Social Media, Operational Performance Management (OPM), Business Analytics, Business Collaboration, Cloud Computing, Business Performance Management (BPM), Call Center, Customer Performance Management (CPM)

ManyWho Brings New Approach to Workflow and Business Efficiency

Posted by Ventana Research on Jan 12, 2015 9:52:02 AM

ManyWho was launched in May 2013 by two former Salesforce.com executives, Dave Norris and Steve Wood. They branded it the Cloud Workflow Company, It offers an innovative approach that allows organizations to create workflows, automatically convert them into business applications and run the apps on multiple types of devices. The key to its success lies in the second and third steps, which differentiate ManyWho from most other business process optimization vendors; the process maps that users produce are not static representations of how business processes should work but instead become apps that monitor what is happening and enable the next step in completing the process.

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Topics: Customer Experience, Operational Performance Management (OPM), Self-service, Business Collaboration, Cloud Computing, Customer Service, Call Center, Contact Center, CRM, Customer Performance Management (CPM)

Salesforce Innovates in Customer Engagement

Posted by Ventana Research on Jan 8, 2015 7:06:47 AM

When Salesforce.com began in 1999 its stated intent was “to reinvent CRM in the cloud.” In 15 years, the company has achieved much more than that, having a major impact on the way IT systems are delivered: Large numbers of vendors have followed its example to provide cloud-based systems. It added a platform as a cloud – a software development environment in the cloud – to its portfolio, introduced an apps store where many vendors sell their products and services, moved into social and mobile computing, and expanded CRM in the cloud to marketing, sales and service clouds. And it continues to innovate in the fast-changing business software market.

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Topics: Big Data, Social Media, Customer Analytics, Customer Experience, Customer Feedback Management, Operational Performance Management (OPM), Speech Analytics, Self-service, Analytics, Business Collaboration, Cloud Computing, Customer & Contact Center, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Customer Performance Management (CPM), Text Analytics

NICE Systems and Customer Engagement Analytics

Posted by Ventana Research on Sep 4, 2014 9:12:47 AM

I recently wrote about NICE Systems’ acquisition of Causata to enhance its analytics capabilities and expand from workforce optimization into customer experience management. NICE recently released Customer Engagement Analytics, which is designed to analyze customer interaction data to help companies improve the customer experience at every touch point. NICE calls this optimizing the customer journey.

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Topics: Customer Analytics, Customer Experience, Operational Performance Management (OPM), Analytics, Business Analytics, Business Intelligence, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Customer Performance Management (CPM)

Oracle Customer Experience in the Cloud

Posted by Ventana Research on Aug 14, 2014 9:16:59 AM

Oracle has a large and diverse set of products and now has most of its business applications operating in the private and public cloud. However, some recent acquisitions have enabled it to focus on cloud-based-products for managing the customer experience. Our next generation customer engagement research has found that customer experience is the top impetus for improving customer engagement as found by almost three quarters (74%) of organizations. Oracle has created a customer experience suite that includes marketing, commerce, service, sales, CPQ and social cloud. In particular the acquisition of RightNow has become the foundation of Oracle Service Cloud.

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Topics: Social Media, Customer Analytics, Customer Experience, Operational Performance Management (OPM), Social CRM, Mobile Apps, Analytics, Business Analytics, Cloud Computing, Collaboration, Customer Service, Call Center, Contact Center, Contact Center Analytics, CRM, Customer Performance Management (CPM), Sales Performance Management (SPM)

New Generation of Recurring Revenue and Billing Inspired from Cloud Computing

Posted by Richard Snow on Jun 22, 2014 10:59:07 PM

Much has been written about how cloud computing changes the way businesses source their software and services. For software companies, instead of being installed inside the company, software like business applications run on a computer installed at an external site. If the external site is not shared with any other business, this is called a private cloud; if it is owned and operated by a third party and supports more than one business, it is called a public cloud. In the case of public clouds, users access the applications via the Internet, and increasing they can do this while out of the office, using laptops or mobile devices like smartphones and tablets. The main advantages of this model are that companies don’t need to invest in hardware or support staff to install and maintain hardware or software like these applications, the vendor handles system updates and users can work anywhere (including on the move) by logging in through a Web browser or an application designed specifically for mobile technology. Our research confirms that the overall importance is overall important in more than half (57%) of organizations.

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Topics: Social Media, Customer Analytics, Customer Experience, Customer Feedback Management, Operational Performance Management (OPM), Social CRM, Speech Analytics, Voice of the Customer, Mobile Apps, Self-service, Analytics, Cloud Computing, Collaboration, Customer Service, Business Performance Management (BPM), Call Center, Contact Center, Contact Center Analytics, CRM, Customer Performance Management (CPM), Desktop Analytics, Financial Performance Management (FPM), Sales Performance Management (SPM), Text Analytics, Unified Communications, Workforce Force Optimization

8x8 Integrates Communications and Contact Center in the Cloud

Posted by Richard Snow on Jun 18, 2014 9:55:32 AM

8x8, Inc. was founded in the 1980’s to provide semiconductor products to the emerging personal computer market; in 2002 it was relaunched to focus on Voice over IP (VoIP) services. By 2008 it had become the second-largest independent VoIP provider in the U.S., and its product, Virtual Office, was widely used by businesses for telecommunications. In 2011 8x8 acquired Contactual and entered the cloud-based call center market. Today the company brands itself as a “communication and collaboration solutions provider in the cloud” and has two main product lines, Virtual Office and Virtual Contact Center.

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Topics: Customer Analytics, Customer Experience, Operational Performance Management (OPM), Speech Analytics, Voice of the Customer, Analytics, Cloud Computing, Customer Service, Call Center, Contact Center, Contact Center Analytics, Customer Performance Management (CPM), Desktop Analytics, Text Analytics, Unified Communications