Verint Raises Guidance as Customers Consume More Bots

The company’s Open Platform and bots were key to its success.

A robot hand and a piggy bank
Contact CentreLatest News

Published: June 10, 2024

Rhys Fisher

Verint has revealed plans to raise its guidance in response to the increased adoption of its AI-powered bots.

Announced in the company’s Q1 2025 earnings call, CEO Dan Bodner confirmed that Verint had outperformed its revenue and non-GAAP diluted EPS expectations.

Indeed, its revenue for the first quarter was $221 million ($7 million ahead of guidance), while the non-GAAP diluted EPS experienced an 11% year-on-year increase.

Bodner attributed the overachievement to the success of the Verint Open CCaaS Platform, particularly the adoption of AI-powered bots that have led to “strong” business outcomes for users.

These bot adoptions have resulted in a number of significant wins for Verint, including a $14 million contract with “one of the world’s largest retailers,” a $7 million win for a Fortune 500 brand, and a $7 million win for an insurance company.

The CEO described the company as “better than any other contact center vendor” when it comes to turning AI tech into tangible business outcomes, detailing how the bots are helping to deliver a win-win for both customers and Verint:

For brands, the economic benefits from AI business outcomes results from the lowering of the cost of their workforce and increasing customer loyalty.

“At the same time, for Verint, the economic benefits come from increasing our addressable markets as brands increase their adoption of Verint’s AI-powered bots.”

So, let’s take a closer look at the features helping Verint’s bots boost the company’s bottom line.

Verint’s Bot Boost

While bots are commonplace for tech vendors in the CX space, Verint believes that the utilization of behavioral data and the ability to leverage the same workflows that customers use every day, differentiates it from its competitors and allows businesses to rapidly deploy bots.

In doing so, customers are “reporting significant AI business outcomes,” according to Bodner – who outlined the following three use cases during the earnings call:

Use Case One

A financial services company deployed Verint bots to handle 14 million interactions annually, achieving an 80% self-service containment rate without human agents.

Verint claimed that this high containment rate increased agent capacity, allowing the company to extend service hours, enhance customer experience, and reduce labor costs.

Use Case Two

In the second case study, an insurance company used Verint bots to improve agents’ work-life balance by offering unlimited schedule flexibility.

Implementing Verint TimeFlex bots resulted in a 30% reduction in agent attrition, according to Verint.

Use Case Three

The third and final use case involved a bank that deployed Verint bots to enhance agents’ upsell skills and boost revenue.

By using Verint Coaching Bots to provide real-time sales guidance, the bank achieved a 48% increase in upsell close rates – demonstrating how increased agent capacity can drive higher revenue.

In reflecting on the success of the company’s bots, Bodner discussed how it was indicative of the wider market pivot from telephony-centric to AI and data-centric platforms, commenting:

“Today, contact centers seek a CX Automation platform that is centered on behavioral data and AI to deliver increased workforce capacity and lower labor costs, while at the same time elevating customer experience without additional headcount.

More and more brands are seeking a CX Automation platform that can deliver tangible AI business outcomes.

More Insights on Verint’s Open Platform and Bots

Introduced at the Engage 2023 event, Verint Open Platform is a CCaaS innovation designed to expand contact centers’ access to broader business functions, enable better integrations, and empower service teams with a new partner ecosystem.

Its open design ensures seamless integration into existing systems. A new contract will allow a retailer to use the platform to collect behavioral data from various sources into the Verint Data Hub and support multiple AI and data projects.

Arguably, what most sets Verint’s Open Platform apart is its workflow-first approach, integrating with other operational systems afterward, with Liz Miller, VP & Principal Analyst at Constellation Research stating that “all other providers have started with the systems and tried to accommodate work.”

The Open Platform was also at the heart of the eight-figure contract discussed above.

With a remit to enhance CX automation for one of the world’s largest retailers, Verint looked to improve multiple business units within the retailer’s contact center.

In addition, the 39-month SaaS agreement included the deployment of the following AI-powered bots:

  • Transcription Bot
  • Quality Bot
  • Data Insight Bot
  • Data Redaction Bot
Artificial IntelligenceCCaaSChatbots

Brands mentioned in this article.


Share This Post