Based on recent analysis of the video surveillance market, Frost & Sullivan has named Verint® a recipient of its 2011 North American Customer Value Enhancement Award for excellence in proactively delivering value to customers. Frost & Sullivan selected Verint for this prestigious award based on the company's proven ability to provide advanced video intelligence solutions tailored to specific vertical markets, including retail, finance, and critical infrastructure, as well as to deliver significant added value via sophisticated analytics functionality that enables Verint customers to leverage security video to generate business intelligence.
The award recognizes the continued evolution of Verint's Nextiva IP video portfolio, the company's ongoing investment in research and development, a strong customer-centric focus evident in the company's robust customer services suite, and Verint's commitment to empowering its customers to realize ongoing value from Verint solutions.
"Frost & Sullivan recognizes Verint's continued commitment to delivering innovative, value-added solutions that enable its customers to maximize the value of their security investments," states Frost & Sullivan Industry Analyst Dilip Sarangan. "The company continues to deliver new functionality that allows companies to not only secure people and property, but to use security video to develop strategies for generating revenue, increasing customer satisfaction and loyalty, optimizing the workforce, and operating more effectively."
Over the past few years, Verint has expanded its Nextiva® portfolio, which today includes next-generation video management software, physical security information management, video analytics, IP cameras, encoders and decoders, wireless devices, and networked video recorders. As a technology industry leader, the company continues to invest in complementary technologies that help customers achieve greater return on investment and improve operational efficiency. Following its recent acquisition of Rontal's Physical Security Information Management (PSIM) technology, Verint also launched the Nextiva PSIM™ solution to expand its current portfolio.
Additionally, Verint continues to introduce new analytics capabilities to its Nextiva IP video portfolio designed to increase the business value of video captured for security and loss prevention purposes. Nextiva Retail Traffic Analytics, Queue Management, People Counting, and other Nextiva analytics applications allow users to leverage security video to more carefully align their operations with customer wants and needs for the purpose of improving customer service and satisfaction, driving revenue, allocating staff more efficiently, and operating more cost effectively.
"The video surveillance market generated revenues of $10.23 billion in 2010 at a growth rate of 9.2 percent and Verint has maintained its market share at 1.4 percent globally to remain one of the top 10 companies in the market," said Sarangan. "This growth reflects its leadership position in video surveillance as well as Actionable Intelligence®."
In recognition of its leadership in the video surveillance market and ability to enhance customer value, Frost & Sullivan is proud to recognize Verint Systems with its Customer Value Enhancement Award.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research in order to identify best practices in the industry.
About Verint Systems
Verint® Systems, Inc. (verint.com) is a global leader in Actionable Intelligence® solutions and value-added services. Its solutions enable organizations of all sizes to make timely and effective decisions to improve enterprise performance and make the world a safer place. More than 10,000 organizations in over 150 countries – including over 85 percent of the Fortune 100 – use Verint solutions to capture, distill and analyze complex and underused information sources, such as voice, video and unstructured text. Headquartered in Melville, New York, the company supports customers around the globe directly and with an extensive network of selling and support partners. Verint is listed on the NASDAQ Stock Market under the symbol "VRNT."
About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.