DMG Consulting Releases 2022 – 2023 Workforce Management for the Enterprise Report
AI-enabled new-gen WFM revolutionizes the staffing paradigm
Who: DMG Consulting LLC, a leading provider of contact center and back-office market research and consulting services
What: Releases 2022 – 2023 Workforce Management for the Enterprise Report
When: Today, 9 March 2022
Where: Available at the DMG Consulting online store
DMG Consulting LLC, a leading provider of contact center and back-office market research and consulting services, today released its 2022 – 2023 Workforce Management for the Enterprise report. This year’s edition of the Report is DMG Consulting’s sixteenth annual publication on the workforce management (WFM) market. The Report’s new name (formerly the Workforce Management Product and Market Report) reflects the growing benefits of WFM throughout the enterprise, beyond the contact center. The Report examines the business, market and technology trends and challenges confronting contact centers in the midst of the Great Resignation. It explores how artificial intelligence (AI) is driving positive changes in the WFM market.
The WFM market has benefited from unprecedented innovation over the past 5 years, and this is just the beginning of the technological enhancements that are expected to be introduced to these solutions over the next few years. The newer WFM applications are flexible and designed to handle both voice and digital channels, including interactions that pivot between channels and agents. These new solutions give front-line supervisors/managers and WFM administrators the tools they need to create accurate forecasts that can dynamically adapt in real time to the changing needs of customers, the department and its employees.
Artificial intelligence is an essential enabler of many of the advancements in new-gen WFM solutions. It increases the accuracy of forecasts and enables the application to auto-select the optimal algorithm for each situation. Artificial intelligence is also being used for real-time adaptive scheduling, which improves accuracy, flexibility and fairness, allowing WFM solutions to balance the needs of employers and employees and improve compliance with global, regional and local work rules. It facilitates the handling of vacation planning, paid time off (PTO), voluntary time off (VTO), overtime (OT), shrinkage projections, and much more. “Artificial intelligence also makes it possible to manage the complexities associated with forecasting and scheduling digital channels – concurrency, asynchronous transactions, lapsed time, cross-channel interactions, etc.,” said Donna Fluss, President of DMG Consulting LLC. “In the future, we expect to see predictive analytics used to align WFM recommendations and schedules with contact centers’ core routing and queuing engines to improve the customer and agent experience while increasing productivity and reducing costs.”
The availability of WFM solutions in the cloud has reinvigorated the WFM market. Many enterprise users had previously been unwilling to upgrade their WFM capabilities, believing that it would not be worth their while, until the transition to the cloud became a reality. The ensuing replacement cycle, in turn, encouraged existing WFM vendors to make product enhancements requested by their customers. The increased activity in the market attracted new vendors, and the WFM market is now growing nicely, a trend that DMG expects to continue as long as the vendors keep delivering promised innovations. DMG expects the WFM market to grow by 11% in 2022 and 2023, 12% in 2024 and 2025, and 11% in 2026.
The Workforce Management for the Enterprise report presents an in-depth analysis of the contact center WFM market, the competitive landscape, vendors, product suites, technology and innovation. The Report analyzes WFM market activity and provides 5-year projections. It also presents customer satisfaction survey results that rate the vendors and their products. The 2022 – 2023 Workforce Management for the Enterprise report features 5 WFM vendors: Alvaria, Calabrio, NICE, Puzzel and Verint. Two emerging WFM competitors, Authority Software and Playvox, are covered at a higher level. To learn more about the report, read the full abstract, including the table of contents. To order, visit dmgconsult.com.
About DMG Consulting LLC
DMG Consulting LLC advises enterprises, vendors and the financial community on all aspects of building, acquiring, operating, optimizing and investing in contact centers, to enhance their enabling technologies and the customer experience (CX). A leader in vendor-agnostic research and consulting, DMG is the only firm whose expertise spans operations and technology. DMG is the primary source for market activity and revenue data and analysis for contact center IT segments. It publishes annual in-depth reports on contact center and back-office industry sectors, including contact center as a service (CCaaS), digital customer service, intelligent virtual agents, interaction analytics, robotic process automation (RPA), workforce management (WFM), workforce optimization (WFO)/workforce engagement management (WEM) and more. These reports provide the accurate market share, trend identification, growth predictions, functional capabilities and pricing information DMG’s global clients rely on to make critical business decisions. Learn more at dmgconsult.com.
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