Decision Matrix: Selecting a Contact Center Analytics Vendor (Competitor Focus) Analytics and Reporting As Differentiators in a Difficult Economy

Transcription

1 Decision Matrix: Selecting a Contact Center Analytics Vendor (Competitor Focus) Analytics and Reporting As Differentiators in a Difficult Economy Report summary An overview of the most important trends in the contact center analytics and workforce optimization markets Gain detailed knowledge of contact center analytics vendors' strengths with regards to products, user sentiment and market impact A comprehensive comparison of vendors' market impact, products, and end-user sentiment A detailed view of each vendor's strengths and weaknesses, and provides advice on the suitability of their offering Vendors profiled include Aspect, Envision, Genesys, Merced Systems, NICE, Teleopti, Verint, and VPI

2 About this report Introduction This report provides comprehensive competitive analysis of the leading vendors in the contact center analytics market, and suggests which vendors to explore, consider and shortlist. The Contact Center Analytics Decision Matrix outlines the competitive dynamics within the market and guides IT decision makers to select a vendor based on its product strength, reputation among customers, and impact in the market. Datamonitor provides a holistic view of vendor capabilities and recommends those you should explore, consider and, most importantly, shortlist. Key findings and highlights Datamonitor defines contact center analytics as a range of optimization technologies that includes agent and operations-focused analytics and performance management (PM). Scorecards and dashboards are used to understand the performance of individual agents, teams, groups and overall contact center performance. There is often high staff turnover in contact centers and therefore a need to monitor the way in which agents view and use customer data. This has driven a need for more intelligent WOTs tools such as analytics. These solutions are being deployed to better understand trends and challenges in the contact center. Reasons to buy Gain detailed knowledge of contact center analytics vendors' strengths with regards to products, user sentiment and market impact Workforce optimization technology vendors can benchmark their performance in various key criteria against their competitors Speech analytics solutions are being deployed to help understand why customers are calling and discover problems quickly so that they can be resolved Decision Matrix: Selecting a Contact Center Analytics Vendor (Competitor Focus)

3 Sample pages Decision Matrix Selecting a Contact Center Analytics Vendor Decision Matrix Selecting a Contact Center Analytics Vendor MARKET DEVELOPMENTS Workforce optimization technologies (WOTs), also known as workforce optimization (WFO) encompasses a number of different applications all with the common purpose of improving efficiency and effectiveness in the contact center. The WOTs landscape is becoming increasingly competitive and vendors are developing their solutions to include more advanced analytics and reporting capabilities in order to differentiate. There is also an enterprise need to monitor the way in which agents view and move data and this is driving a need for more intelligent WOTs tools. Contact center analytics (CCA) as an emerging set of tools under the WOTs umbrella as shown in Figure 1. Datamonitor defines CCA as a range of optimization technologies that includes agent and operations-focused analytics and performance management (PM). Scorecards and dashboards are used to understand the performance of individual agents, teams, groups and overall contact center performance. Activity is compared and monitored against key performance indicators (KPI). PM links objectives to completed tasks to ensure a correlation between individual objectives and organizational objectives. In addition, speech analytics is used to analyze recorded audio from customer-agent interactions. This enables enterprises to search for words or phrases in order to discover calling patterns and to find inefficiencies and issues in the contact center. PM and analytics are often linked to ecoaching applications which suggest training for agents when skills gaps are discovered. Market trends Economic pressures are driving enterprises to focus on customer retention and cutting costs The sluggish economy has led to a change in strategy in the contact center: the focus has shifted from customer acquisition to customer retention. Enterprises are heavily focused on improving customer service in order to increase customer retention rates and to reduce the number of calls into the contact center, thereby reducing costs. Enterprise budgets are tightening and consumer confidence is in decline along with consumer spending. They need to better understand customers reasons for initiating contact and must equip agents to handle customer queries more effectively. Agent behavior and skillsets must be closely monitored in order to achieve the goals of improving agent performance and provide a better customer experience. Customer service quality is becoming increasingly important to achieve better customer loyalty rates and to present a positive brand image. The other key objective for contact centers is cost reduction. Enterprises are beginning to utilize CCA to find skill gaps, assigning ecoaching and thereby improve agent efficiency and first call resolution. Enterprises will continue to invest in WOTs despite the difficult economy Although enterprises are taking a more tentative approach to IT spending and purchasing decisions are being delayed, the market for WOTs will continue to grow. There is a high demand for call recording and quality monitoring (QM) because Figure 1: Contact center analytics compliance and regulation issues remain a high priority, particularly in regulated industries such as financial services. Enterprise risk management strategies that were previously focused on securing systems and rapid data recovery have advanced to include an increasing focus on the management of customer data. CCA is used to better control and ensure that agents are handling data correctly. Using the forecasting and scheduling tools in workforce management (WFM), enterprises can better utilize their workforce and save costs. To achieve the most efficient workforce and reduce costs, enterprises need to know how many agents to employ and how many calls they are able to handle. This is likely to change depending on peak and off-peak call volumes. Analytics solutions are used to better understand trends and challenges in the contact center. They help enterprises make faster decisions about training staff and decide which agents are best suited to handle various calls. In addition, the consistent need for call recording, QM and WFM presents an opportunity for vendors to up-sell suite solutions to include analytics and PM packages. Where enterprises have already deployed basic WOTs, they are beginning to utilize CCA tools to help improve customer service and agent efficiency in order to succeed at their goals for customer retention and cost savings and leverage existing deployments. Datamonitor s global market forecast for WOTs shows that the market will grow from almost $2bn in 2009 to reach almost $3bn in Enterprises are deploying contact center analytics to improve efficiency and first call resolution As previously discussed, contact centers are increasingly focused on customer retention and cost reduction. CCA solutions are being deployed to assist in achieving these goals. Contact centers suffer from high staff turnover, which can be costly because of the expense involved in recruitment and training. CCA holds the promise of improving agent performance and reducing the need for, and costs of, training. Source: Datamonitor D A T A M O N I T O R Spending on CCA is growing relatively quickly, at a compound annual growth rate (CAGR) of almost 20% between 2009 and The market is currently small, compared with other WOTs solutions but the technology has seen high growth, particularly in North America and Western Europe, where logging, QM and WFM solutions are relatively mature. Demand in the less mature countries in APAC and CALA will gradually increase as the reliance on contact centers increases and the Decision Matrix: Selecting a Contact Center Analytics Vendor (Competitor Focus) DMTC2305/ Published 05/2009 Datamonitor. This brief is a licensed product and is not to be photocopied Page 6 Decision Matrix: Selecting a Contact Center Analytics Vendor (Competitor Focus) DMTC2305/ Published 05/2009 Datamonitor. This brief is a licensed product and is not to be photocopied Page 7 Contact our customer service team for more sample pages... 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4 Table of contents OVERVIEW Catalyst Summary MARKET DEVELOPMENTS Market trends - Economic pressures are driving enterprises to focus on customer retention and cutting costs - Enterprises will continue to invest in WOTs despite the difficult economy - Enterprises are deploying contact center analytics to improve efficiency and first call resolution - Speech analytics is gradually playing a more significant role in workforce optimization - Continued market consolidation is changing the competitive landscape THE CONTACT CENTER ANALYTICS DECISION MATRIX Market leaders: NICE and Verint The challengers: Aspect, Merced Systems and VPI The prospects: Envision, Genesys and Teleopti MARKET LEADERS Market leaders: Technology Assessment Market leaders: End-user Sentiment Market leaders: Market Impact VENDOR ANALYSIS Aspect: CCA Radars - Recommendation: Consider Envision: CCA Radars - Recommendation: Explore Genesys: CCA Radars - Recommendation: Explore Merced Systems: CCA Radars - Recommendation: Consider NICE: CCA Radars - Recommendation: Shortlist Teleopti: CCA Radars - Recommendation: Explore VPI: CCA Radars - Recommendation: Consider CONCLUSION Contact centers should deploy packaged contact center analytics solutions to address business needs APPENDIX Summary scores Datamonitor ratings Definitions - Workforce Optimization Technologies Extended Methodology - Technology Assessment - User Sentiment - Market Impact Sources Further reading Ask the analyst Datamonitor consulting Disclaimer LIST OF TABLES Table 1: Table 2: Table 3: The leading contact center analytics vendors (in alphabetical order) The Contact Center Analytics Decision Matrix Contact center analytics Decision Matrix - vendor scores summary LIST OF FIGURES Figure 1: Contact center analytics Figure 2: The contact center analytics Decision Matrix Figure 3: Market leaders analysis: technology assessment Figure 4: Market leaders: end-user sentiment Figure 5: Market leaders: market impact Figure 6: The Aspect contact center analytics radars Figure 7: The Envision contact center analytics radars Figure 8: The Genesys contact center analytics radars Figure 9: The Merced Systems contact center analytics radars Figure 10: The NICE contact center analytics radars Figure 11: The Teleopti contact center analytics radars Figure 12: The Verint contact center analytics radars Figure 13: The VPI contact center analytics radars Verint: CCA Radars - Recommendation: Shortlist

5 Interested in this topic? The contact center market is being rejuvenated by the promise of IP, multimedia, networked call centers and advances in underlying applications. This portfolio provides analysis of the growth areas and buying patterns affecting global call center markets. In addition, the service focuses on call center infrastructure technology markets, providing revenue sizing and forecasts by vertical market and call center size-band for all major call center technologies, from the ACDs to quality monitoring. Other reports in this series The Global Workforce Optimization Technologies Industry Model (Interactive Model) This model provides a comprehensive view of spending in the contact center market on workforce optimization technologies. The model includes revenue estimates for 2008 and forecasts from 2009 to 2014 across key geographies and industries. Published: Mar-09 Code: IMTC0340 Gaining Ground in the Emerging Workforce Optimization Markets in APAC (Strategic Focus) This report analyzes current market trends, drivers and market opportunities for workforce optimization solutions in the APAC region. Published: Mar-09 Code: DMTC Trends to Watch: Contact Center Markets and Technologies Technology markets are changing fast. This brief is essential reading for you to identify and track the key forces shaping the prospects for your business. Published: Dec-08 Code: BFTC2238 Contact Center Markets and Technologies, (Interactive Model) This report is the result of Datamonitor's annual contact center markets and technologies mega-model. The model provides insight into spending on core contact center technologies by region, technology and sizeband. Published: Oct-08 Code: IMTC0289 Moving Towards 'Real Time' Workforce Optimization in Contact Centers (Strategic Focus) This report provides analysis of workforce optimization technology markets across NA, EMEA, APAC and CALA. WOTs solutions include quality monitoring, workforce management, ecoaching, contact center analytics, speech analytics and logging applications. Published: Apr-08 Code: DMTC2177 For more information about these products or to browse and purchase from our huge range of research please visit. Contact our customer service team today... Europe tel: fax: reports@datamonitor.com Americas tel: fax: reports@datamonitor.com Middle East tel: fax: reports@datamonitor.com Asia Pacific tel: fax: reports@datamonitor.com

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