DMG Consulting Releases 2019 – 2020 Workforce Optimization Product and Market Report
Artificial intelligence, machine learning and predictive analytics ushering in a new era of servicing
Who: DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services
What: Releases 2019 – 2020 Workforce Optimization Product and Market Report
When: Today, 18 February 2020
Where: Available at the DMG Consulting online store
DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services, today released its 2019 – 2020 Workforce Optimization Product and Market Report. DMG’s 16th annual report on this fundamental contact center sector examines the servicing, business and management mega trends that are driving transformational changes in the contact center, the workforce and the technology that supports them. The Report also presents an autoritative analysis of WFO market activity for the first half of 2019 and provides 5-year market projections for 12 WFO application components.
Demand for traditional WFO functionality is still strong, and interest in the new generation of solutions, is growing at unprecedented rates. Contact center WFO suites have been steadily enhanced and expanded over the past decade, transforming into analytics suites. The introduction of automation and artificial intelligence (AI) into these suites has enabled the vendors to offer new benefits, including greater insights into agent performance as well as customers’ perception of service and a deeper understanding of their needs and wants. Improving the customer journey is a particular focus of the new generation of contact center WFO suites and an area of great investment.
Companies have begun the process of digital transformation, building omni-channel service environments and implementing robotics to automate redundant and manual tasks. They are investing in AI, robotic process automation (RPA), big data, knowledge management (KM) and digital-first solutions, as well as cloud servicing initiatives. Many vendors from various IT sectors are seeking to address these opportunities, and the WFO vendors are well-positioned to emerge as winners in the race.
“Companies are striving to understand and satisfy their customers’ demands. The new generation of solutions, bolstered by smarter and faster technology, are offering innovations that support these initiatives,” says Donna Fluss, President of DMG Consulting LLC. “The next stage in the process of understanding customer needs is customer journey analytics, which will utilize automation to analyze the massive amounts of customer data in contact centers in order to identify any impediments to an optimized customer experience.”
The contact center WFO market has seen amazing growth over the past decade. The market began the 2010’s with contact center WFO revenues of $1,012.1 million, and by the end of 2018 (the most recent period for which full-year data is available), revenue had reached $1,855.2 million. Contact center WFO revenue grew by 83.3%, equivalent to a 7.9% compound annual growth rate (CAGR), over the 8-year period. This outstanding revenue performance stems from the benefits and value that companies have realized from contact center WFO suites, a trend that DMG expects to continue.
The 2019 – 2020 Workforce Optimization Product and Market Report provides the vendor, product, functional, technical and pricing information that enterprise, contact center and IT leaders need to select the right solution to meet their organization’s current and future front- and back-office WFO requirements. The Report covers 7 leading and contending vendors: Aspect, Calabrio, NICE, OnviSource, Verint and ZOOM International. Authority Software is covered at a higer level. To learn more about the 2019 – 2020 Workforce Optimization Product and Market Report, visit www.dmgconsult.com, or contact Deborah Navarra at firstname.lastname@example.org or 516-628-1098. To order your copy of the Report, visit www.dmgconsult.com.
About DMG Consulting LLC
DMG Consulting LLC is a vendor-independent advisory and consulting firm specializing in contact centers, back-office and real-time analytics. We are a strategic advisor to end users and vendors, large and small, and the financial community. Our mission is to help our clients build world-class contact center and back-office environments by leveraging technology, process and people. We assist management in optimizing the performance of their contact centers by increasing operational efficiency, providing an outstanding customer experience, enhancing loyalty and increasing sales and profits. We also help vendors develop products and services that deliver differentiated innovation and benefits that meet end users’ current and future needs.
DMG Consulting is the leading provider of industry research for many contact center, back-office and analytics IT markets, including: workforce optimization (qality management/recording), workforce management, speech analytics, text analytics, desktop analytics, robotic process automation, customer journey analytics, enterprise feedback management/surveying, performance management, gamification, voice biometrics, cloud-based contact center infrastructure, dialing, interactive voice response systems, intelligent virtual agents, and proactive customer care. For more information, visit www.dmgconsult.com.
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