Verint Systems - Enterprise Feedback Management (EFM)

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Company: Verint Systems, Melville, NY USA
Entry Submitted By: LEWIS Global Communications
Company Description: Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization, security intelligence, and fraud, risk and compliance. Today, more than 10,000 organizations in approximately 180 countries—including over 80 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions.
Nomination Category: Products & Product Management Categories
Nomination Sub Category: Best New Product or Service of the Year - Software - Relationship Management Solution

Nomination Title: Verint Enterprise Feedback Management (EFM)

Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date.

Since January 1, 2016, Verint has introduced several major innovations and enhancements to Verint Enterprise Feedback Management (EFM) – part of the company’s broader Customer Engagement Optimization portfolio that helps organizations enrich interactions with their customers, improve processes and optimize the workforce. Verint also partnered with Forrester in an innovative move to help organizations measure the value of their customer experience programs.

Digital feedback management.

Verint acquired OpinionLab, a leader in real-time digital engagement to more closely integrate mobile and web customer experiences and deliver the industry’s broadest voice of the customer suite. The acquisition added further depth to Verint EFM by opening a new channel for customer feedback through customer-initiated digital interactions on web and mobile devices.

EFM typically delivers “company-initiated feedback” from customers and employees. It enables companies to proactively collect, analyze and act on feedback captured on phone, email, SMS, web and mobile devices, and provide cross-channel reporting and analysis. With the OpinionLab acquisition, the EFM solution can also deliver “customer-initiated feedback” on web and mobile devices. The feedback enables companies to analyze and act on feedback in real-time during key moments in the digital customer journey. A structured comment card on the website or mobile app is on screen for the customer to click at any time he or she needs help or has a comment. The solution offers companies a new dimension for expanding “digital first” competitive strategies.

Mobile engagement.

Also in 2016, Verint introduced EFM enhancements that provide consumers increased flexibility with an enhanced mobile user experience. The advancements to the EFM solution help enterprises scale up, access and engage with more mobile users, making it easier than ever to create and manage surveys that provide a better, more productive mobile experience.

Geolocation targeting.

Maintaining its focus on the emergence of mobile technologies, Verint also added geolocation targeting to its customer analytics capabilities as part of the EFM solution. The enhancement helps make customer interactions more relevant, contextual and in-the-moment. With more of today’s consumers responding to surveys using mobile devices, geolocation targeting enables organizations to add location to a customer’s basic profile, increasing survey participation and providing a rich, personalized view of customer activity.

Forrester partnership.

Verint entered an industry-first exclusive partnership with Forrester to provide a holistic approach to customer experience (CX) measurement and management. The partnership has been exceptionally well-received by the industry, customers and broader analyst community.

Verint partnered with Forrester to provide organizations with tools for measuring the effectiveness of CX initiatives. The partnership combines Forrester’s Customer Experience Index (CX IndexTM) methodology, benchmark data and engagement program with Verint’s EFM solution to create a single source for organizations to collect, analyze and act on benchmark data. The combination gives organizations the ability to model which CX improvements will have the biggest impact on revenue.

The significance of the partnership is the influence it will have on the future of CX. Organizations have previously focused on CX as a business imperative with technology as an optional layer to help surface actionable intelligence, but those efforts lacked awareness of how the business stacked up within its own industry. Together, Verint and Forrester are combining insights and data that better gauge customer experience quality, the competitive landscape and what to improve in an organization’s CX program to drive incremental revenue.

Industry recognition.

In its “2015-2016 Enterprise Feedback Management Product and Market Report,” DMG Consulting LLC cited Verint EFM as having the largest estimated customer base among vendors it evaluated, and for achieving the top customer satisfaction scores for current product and implementation, while also being a leader in overall vendor satisfaction. Verint also received the highest issued ratings—5 out of 5—in its ability to identify operational issues/opportunities and to capture the voice of the employee.

In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service.

-Acquisition of OpinionLab to extend VoC Suite to Digital Engagement. The acquisition added further depth to Verint EFM by opening a new channel for customer feedback through customer-initiated digital interactions on web and mobile devices.
-EFM enhancements to optimize mobile customer engagement. The enhancements help enterprises engage with more mobile users.
-EFM enhancements including geolocation targeting. Geolocation targeting enables organizations to add location to a customer’s basic profile, increasing survey participation and providing a rich, personalized view of customer activity.
-Partnership with Forrester to combine insights and data that better gauge customer experience quality. The partnership has been exceptionally well-received by the industry, customers and broader analyst community.
-Top customer satisfaction scores for current product and a leader in overall vendor satisfaction. DMG Consulting LLC cited Verint EFM as having the largest estimated customer base among vendors, and for achieving the top customer satisfaction scores for current product and implementation.