About Verint Systems

Verint Systems Inc. and its consolidated subsidiaries (Verint) provide customer engagement solutions. Verint helps brands provide Boundless Customer Engagement. Verint is uniquely positioned to help organizations close the Engagement Capacity Gap with the company’s differentiated Verint Customer Engagement Cloud Platform. Strategy The company’s strategy is to help brands close the Engagement Capacity Gap with the company’s AI-powered, platform that enables customer experience (CX) automation. The company’s platform helps brands create significant business value throughout the organization by introducing automation and workflows to reduce operating costs while at the same time increasing customer satisfaction and revenue opportunities. The key elements of the company's strategy include open approach to the ecosystem; Engagement Data Hub; Verint Da Vinci AI and Analytics; best-of-breed business applications; and enterprise-wide capabilities. Customer Engagement Solutions The Verint Platform offers a broad set of solutions to help brands close the Engagement Capacity Gap. The platform is open and modular to offer maximum flexibility. Brands can choose to deploy solutions by starting anywhere based on their business priorities, and then expand with other solutions over time to maximize their return on investment. In addition to the platform’s core components described above, brands can deploy a variety of best-of-breed business applications across three solution areas: Digital-First Engagement, Workforce Engagement, and Experience Management. Digital-First Engagement The company’s Digital-First Engagement applications help brands accelerate their digital strategy, including through: Channel Automation: Enable conversational automation over digital channels, as well as workforce orchestration across all channels, to help businesses scale customer engagement, reduce cost-per-contact, and power seamless self-service. Engagement Channels: Brands can digitally transform the customer experience across a wide number of channels, including messaging, social, chat, email, interactive voice response (IVR), and communities. Conversational AI: With the company’s intelligent virtual assistant (IVA), enable human-like conversations across every channel delivering productive and personalized experiences. Knowledge Management: Enable humans and bots with knowledge to deliver outstanding service with tools for accessing content across the organization, delivering consistent and compliant answers, and achieving compliance with regulations and processes. Workforce Engagement The company’s Workforce Engagement applications help brands manage their customer engagement work and their workforce across the enterprise. From the contact center to the back office and branch, these applications enable brands to empower a workforce of humans and bots, enable connected work across all silos, and drive real-time work actions. The company offers applications for the following: Forecasting & Scheduling: Enable brands to understand the work needed to meet and exceed customer expectations, determine the optimal resourcing strategy to address customer expectations with a combination of employee input and automation, and provide staff across all customer touchpoints and across the enterprise with flexible scheduling options for balancing work and personal needs. Quality & Compliance: Enable the use of automation and workflows to make customer interactions across both attended and self-service voice and digital channels more pleasant, productive, and secure, while empowering employees with the skills they need to deliver outstanding performance. Interaction Insights: Extract insights from structured and unstructured customer interactions and activities across the enterprise to drive strategy, productivity, customer loyalty, and revenue. Real-Time Work: Support in-the-moment workforce activities with workflows, guidance, assistance, and automation to enhance customer experiences, workforce engagement, and compliance, while reducing operating costs. Experience Management The company’s Experience Management applications help brands collect and analyze customer experience data across all customer journeys - including direct, indirect, and inferred experiences - across digital, contact center, and location touchpoints. With a complete and unified view of the customer experience, brands are empowered with insights and actions to improve engagement from every level of the organization. Within this solution area, the company offers applications for the following: Enterprise-wide: Enable brands to understand CX metrics across their organization so that they can identify and prioritize CX initiatives. Web and Mobile: Help brands to understand voice of the customer data across web, mobile, social, and survey feedback. Location: Help brands to understand complex customer journeys at store or retail banking locations by measuring multiple touchpoints, and driving improvements in real-time. The company’s Experience Management applications can be combined to provide solutions that solve experience management challenges throughout the enterprise, in the contact center, for digital teams, retail locations, marketing organizations and employee experience for human resources departments. In addition to the Verint Platform, Verint continues to develop and enhance its Workforce Engagement (WFE) On-Premises Platform. Customers running the On-Premises Platform may also choose to keep their applications on-premises, while adding applications from the Verint Platform. They can also choose to convert to the Verint Platform when they are ready to move their applications to the cloud. The company is committed to providing its customers with choice and flexibility when it comes to deploying solutions on-premises or in the cloud. The company can help its customers evolve customer engagement at their own pace, while protecting their existing investments with minimal disruption to their operations. Customers The company’s customer engagement solutions are used by approximately 10,000 organizations in over 175 countries across a diverse set of verticals, including financial services, healthcare, utilities, technology, and government. The company’s customers include large enterprises with thousands of employees, as well as SMB organizations. In the year ended January 31, 2023, the company derived approximately 70%, 20%, and 10% of the company’s revenue from sales to customers in the Americas; in Europe, the Middle East and Africa (‘EMEA’); and in the Asia-Pacific (‘APAC’) regions, respectively. Seasonality As is typical for many software and technology companies, the company’s business is subject to seasonal and cyclical factors. In most years, the company’s revenue and operating income are typically highest in the fourth quarter (year ended January 2023) and lowest in the first quarter (prior to the impact of unusual or nonrecurring items). In addition, the company generally receives a higher volume of orders in the last month of a quarter, with orders concentrated in the latter part of that month. Direct and Indirect Sales The company sells its solutions through its direct sales teams and indirect channels. The company’s direct sales teams are focused on large and mid-sized customers and, in many cases, co-sell with the company’s indirect channels. The company’s indirect channels also address large and midsize customers, as well as smaller customers. The company’s direct sales teams and indirect channels are supported by business consultants, solutions specialists, and presales engineers who, during the sales process, help determine customer requirements and develop technical responses to those requirements. Customer Success The company offers a range of services to help its customers achieve their business objectives and maximize their return on investment. Additionally, the company provides its customers and partners with metrics to measure its solutions’ adoption, performance, and effectiveness to deliver the desired business outcomes. The services the company provides include the following: Cloud Operations: The company deploys its cloud applications in multiple cloud environments, including the leading cloud infrastructure environments. The company provides its customers with service-level commitments with respect to uptime and support. Managed Services: The company offers a range of managed services that are recurring in nature and can be delivered in conjunction with the company’s technology or on a standalone basis, which help build strong relationships with the company’s customers. Implementation: Configurations, commissioning, integrations, and other implementation work can be performed by the company, its authorized partners, or by end customers themselves. Education and Training: Education and training programs are designed for customers and to certify the company’s partners. Customer and partner training is provided at the customer site, at the company’s training centers around the world, and/or remotely through Verint Academy, the company’s learning management system. Consulting and Value Services: The company and its partners offer customers help in maximizing the value of the company’s solutions, including consulting on business strategy, process excellence, performance management, and project and program management. Support: The company offers a range of support plans to its customers and partners, designed to help ensure long-term successful use of the company’s solutions. Research and Development The company’s research and development expenses, net, were $130.6 million in the year ended January 31, 2023. Intellectual Property Rights Patents: As of January 31, 2023, the company had more than 700 patents and patent applications worldwide across areas, including data capture, artificial intelligence, machine learning, analytics, and automation. Third-Party Suppliers For certain services, products, or components, including the company’s cloud hosting operations, the company relies on third-party providers, which may create significant exposure for it. Competition The company face strong competition from many vendors, some of whom focus on customer engagement and some of whom offer customer engagement-related capabilities. Key competitors include Alvaria, Inc., Calabrio, Inc., Genesys, Medallia, NICE Ltd., Pegasystems Inc., Qualtrics International Inc., divisions of larger companies, including Microsoft Corporation, Oracle Corporation, and Salesforce, Inc. History Verint Systems Inc. was founded in 1994. The company was incorporated in Delaware in 1994.