Verint Secures Eight-Figure Contract with Major Retailer

Verint’s Open Platform and specialized bots will be leveraged to enhance CX automation.

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Published: May 2, 2024

Rhys Fisher Fisher

Verint has been awarded an eight-figure contract to increase CX automation for one of the “world’s largest retailers.”

With a remit to improve several business units within the retailer’s contact center, Verint revealed that its Open Platform and team of AI-powered bots were key to helping secure the deal.

In discussing the news, Verint’s Dan Bodner – Chairman and CEO– outlined how he believes his company was able to win over the retailer:

“Customers today are looking to increase CX automation in the contact center and across the enterprise, to elevate the customer experience, and to reduce labor costs. They require a platform that is completely open, centered on behavioral data, and offers AI-powered bots.

This win is another proof point of our CX automation leadership, and we continue to innovate at a very fast pace.

Listed as a bundled SaaS booking, the 39-month contract includes the implementation of Verint Open Platform as well as the delivery of the following AI-powered bots:

  • Transcription Bot
  • Quality Bot
  • Data Insight Bot
  • Data Redaction Bot

So, let’s take a more detailed look at the two major aspects of Verint’s contract win.

Verint Open Platform

Launched last summer at the company’s hallmark Engage 2023 event, Verint Open Platform is a CCaaS innovation with the ability to broaden contact centers’ access to the wider business, facilitate greater integrations, and empower service teams to utilize a fresh partner ecosystem.

In addition, the open element of the platform means that it will be able to fit seamlessly into the retailer’s existing ecosystem.

Indeed, Verint has confirmed that the new contract will see the retailer utilizing the platform to gather behavioral data from numerous isolated sources into the Verint Data Hub, as well as supporting various AI and data projects.

However, what truly differentiates Verint’s Open platform from its contemporaries is the fact that it starts with workflows and then moves into other operational systems.

Liz Miller, VP & Principal Analyst at Constellation Research, explains why this is so unique, stating that “all other providers have started with the systems and tried to accommodate work.”

Miller also details why this strategy could cause problems:

Having to take that telephony backbone and make it fit for agents, supervisors, and leaders that could be an awkward expansion and transition.

Yet, there are clear benefits. By examining workflows and then strategizing backward, users can fully utilize the advantages of a bring-your-own-carrier (BYOC) model.

Verint Specialized Bots

In November of last year, Verint announced that it would be beefing up its contact center support by making 50 specialized bots generally available by January 2024, with a further 50-100 bots set to be released before the start of 2025.

Verint has claimed that each bot has been designed to automate specific tasks and seamlessly blend into contact center workflows, with the four included in the latest contract an example of this.

Speaking to CX Today at the time, David Singer – Global Vice President of Go-to-Market Strategy at Verint – commented:

We want to talk about bots, not about generalized AI, because we’re focused on driving specific value using AI.

Verint Makes Money Moves

While the full details of Verint’s new deal have not yet been made public, it will mark the second eight-figure contract that the CCaaS provider has secured this year.

Announced at the beginning of the year, Verint clinched a $49 million deal with a prominent U.S. healthcare firm.

Like the recent agreement, the five-year contract encompassed Open CCaaS and 12 specialized bots.

Moreover, Verint confirmed that as well as implementing new features, the deal also extended the current solutions already in use by the client.

For more information about how Verint’s specialized bots work together, check out this article today.

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