Verint® Systems, Inc. today announced that customer ING Direct Canada has been recognized by Speech Technology magazine, earning a 2011 "Implementation Award" for its successful deployment and use of Verint's Impact 360® Speech Analytics ™ software. The organization has achieved significant business benefits using the technology to mine customer interactions, identify the root causes of customer issues and increased call volumes, and take a proactive approach to improving the customer experience.
Headquartered in Toronto, ING Direct Canada has more than 1.6 million clients and $27 billion in assets. Many of the company's customer interactions are handled through its contact center, which leverages Impact 360 Speech Analytics to automatically mine and analyze thousands-and often millions-of interactions to identify call types and drivers of interactions into its center. Using the solution, the organization can search for key phrases and words to monitor and identify customer needs, resulting in valuable insight that leads to more effective agent interactions and significant enhancements to other customer-facing channels, such as the company website.
David Archard, Head of Analytics and Quality Assurance at ING Direct Canada, commented in Speech Technology magazine,"We delved deeper with speech analytics to isolate certain call types to hear why clients were calling. Once we started doing these deep dives, we could focus on the ' whys' [behind their calls]." In one instance, ING Direct changed its validation process for taking verbal passwords over the phone, leading to a six figure savings in the first year and quadrupling its return on investment (ROI) for the Verint solution.
ING Direct Canada also learned through Verint's speech analytics software that customer service agents required more training in certain areas. Agents were helping clients, but not always asking important questions as to why they might be closing their accounts, for example. In response, the organization developed enhanced training methods for its agents, which resulted in a 74 percent increase in retention attempts and the ability to retain more than 50 percent of that business. In addition, it has the ability to feed data beyond the contact center by sharing valuable customer insights with departments across the broader enterprise. For example, today, ING Direct Canada now measures response rates from marketing campaigns and helps identify ways the contact center can better manage campaign responses through its front-line team.
"We are delighted to extend our congratulations to the ING Direct Canada team for its success in maximizing the benefits inherent in our speech analytics software and for the results it has achieved," says Nancy Treaster, senior vice president and general manager, Verint Witness Actionable Solutions. "To remain competitive in today's market, it has become increasingly important to anticipate market and customer requirements. Companies, like ING Direct Canada, understand the great value behind the insights contained in the voices of their customers, and how analytics and workforce optimization solutions can help unlock their potential."
About Verint Witness Actionable Solutions
Verint® Witness Actionable Solutions® is the worldwide leader in enterprise workforce optimization (WFO) software and services. As the market's first 5th-Generation WFO solution, its unified Impact 360® suite enables organizations of all sizes to capture, analyze and act on customer, business and market intelligence, and optimize customer experiences. Impact 360Workforce Optimization™-comprised of quality monitoring and recording, voice of the customer analytics (including speech analytics, text analytics and customer feedback surveys), desktop and process analytics, workforce management, performance management, eLearning, coaching and more-serves as a strategic asset across front- and back-office sales and service operations that help shape the customer experience. Used by thousands of organizations around the globe, Verint solutions help improve the entire customer service delivery network, powering decisions Real Time at the Right Time™ to advance service excellence across today's customer-centric enterprises.
About Verint Systems, Inc.
Verint® Systems, Inc. (verint.com) is a global leader in Actionable Intelligence® solutions and value-added services. Our 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, we support our 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."
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 and uncertainties, 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 year ended January 31, 2011 and our Quarterly Report on Form 10-Q for the quarter ended July 31, 2011. 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, the Company assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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