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DMG Consulting Releases 2020 – 2021 Workforce Management Product and Market Report

DMG Consulting Releases 2020 – 2021 Workforce Management Product and Market Report

4/8/2020

New-gen WFM takes staffing and service optimization to the next level

Who:      DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services

What:   Releases 2020 – 2021 Workforce Management Product and Market Report

When:    Today, 8 April 2020

Where:   Available at the DMG Consulting online store

Background:

DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services, today released its 2020 – 2021  Workforce Management Product and Market Report. DMG’s 13th annual report on the contact center workforce management (WFM) sector delivers a comprehensive analysis of the vendors, products, pricing and best practices for this IT sector. The Report explores the impact of trends such as the digital transformation, the gig economy, artificial intelligence (AI) enablement, automation and the hybrid workforce on the WFM market.

Today’s WFM solutions are evolving to keep pace with the changing business world. Workforce priorities have shifted, as have other management trends, including the introduction of innovative smart technology, expanding global business and broader market opportunities. Flexible planning approaches, like real-time adaptive scheduling, are being used to address the variable schedule needs of the gig economy and employees’ demand for work/life balance. The last few years have seen enhancements to WFM solutions to meet the needs of omni-channel service environments, multi-national enterprises and the Millennial and Gen Z workforce. 

AI-based technologies, such as predictive analytics and machine learning, are being incorporated into WFM solutions to automate the selection of the optimal forecasting model for each business’s unique needs. Predictive analytics is already helping companies make better hiring decisions and reduce agent churn. It can also be used to predict if work will be completed on time. Machine learning uses an iterative learning process to improve schedule accuracy by validating predictive models. “AI and machine learning are expected to play an even greater role in the future by improving the accuracy of forecasts and schedules as well as enhancing self-learning and adaptive real-time scheduling, performing long-term forecasting and strategic planning, and simulation of routing rules and agent skills,” said Donna Fluss, President of DMG Consulting.  Due to the high demand for more intelligent (and, in the future, AI-enabled) contact center WFM solutions, and because of the currently limited interest in back-office and branch solutions, DMG estimates that revenue from the WFM market will increase by 10% in 2020, 11% in 2021 and 2022, and 12% in 2023 and 2024.

DMG Consulting’s 2020 – 2021 Workforce Management Product and Market Report, provides an in-depth analysis of the contact center WFM sector, its competitive landscape, vendors, product suites, technology and innovation. The Report is designed to help organizations select the right solution, technology, functionality and partner to meet their current and future front- and back-office WFM needs.  The Report provides an analysis of WFM market activity as well as 5-year market projections. It features 4 leading WFM vendors – Aspect, Calabrio, NICE, and Verint – and 5 WFM suites. (Calabrio has two WFM solutions included in this analysis: Calabrio WFM, their legacy product, and Calabrio Teleopti WFM, based on their acquisition of Teleopti AB in June 2019.). QStory Ltd. is covered at a higher level. To learn more about the Report, read the full abstract including the table of contents. To order, 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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