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Report: Workforce Optimization Software Coming into its Own

Call Recording Featured Article

Report: Workforce Optimization Software Coming into its Own

June 24, 2015

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By Rory J. Thompson,
Web Editor
 


The contact center market has seen its share of challenges in recent years, but it has been enjoying renewed expansion and growth along with the economy in general. Still, there are areas where this industry can use some help, and one technology helping move it forward is workforce optimization (WFO) software.


For the uninitiated, WFO software, such as that provided by Coordinated Systems, Inc., is a program suite that combines recording, quality management, workforce management and speech analytics into one console to oversee contact center (agent) performance. A WFO suite typically includes tools for critical contact center functions, quality monitoring, liability recording, coaching and more. The technology also, according to industry watchdog TechTarget, brings together and reports on many different functions within the enterprise – from the call center to the back office. As such, it serves an invaluable role in industry growth.

That’s why a new report on the state of the industry is being well received. Research and Markets has just released its 2015 Contact Center Workforce Optimization Market Share Report. In it, the research giant looked at revenue and market share from a number of industry leaders such as Coordinated Systems, NICE and Verint (News - Alert), and the findings drive home what insiders already know: this technology works.

Report highlights show:

  • The WFO market delivered strong results in 2014: The total company revenue of the WFO market reached $3,660.9 million in 2014, representing an increase of 12.5 percent from $3,252.9 million in fiscal 2013.
  • The WFO market continues to evolve and transform: “Despite the expected slowing of growth in the contact center recording and quality assurance/quality management (QA/QM) sectors due to the WFO market's size and maturity,” the report said, “WFO vendors are making investments to improve their core solutions.”
  • Back-office and branch WFM solutions saw sales grow by 16.1 percent, from $33 million in fiscal 2013 to $38.3 million in 2014. The increase is attributed to better solutions and executives' growing appreciation of the need for them. It is expected back offices and branches will be a significant growth area for sales of WFO solutions for the next few years.

“We’re in a hot space right now. We’re actually replacing systems from our larger competitors,” noted Rich Marcia, Marketing Director for Coordinated Systems, Inc. “We offer a better value to price, a lower overall cost of ownership and unique features which allow us to be memorable for both our partner/resellers and our shared customers. It’s a value proposition energized by a marketplace with momentum.”

For call center leaders looking to gain an edge over competitors, it makes sense to get the maximum value out of their efforts. WFO software is likely the best way to achieve that.

 
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