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Summer’s in the air and that means it’s ripe time for marriages and acquisitions in the tech industry. The latest news–Verint, a provider of business and customer analytics, is acquiring Vovici, an enterprise feedback solutions provider for $60 million. Verint will incorporate Vovici’s EFM technology into its Voice of the Customer analytics platform. This acquisition should add enhanced multichannel management functionality, especially in regards to social media and Internet based media.Vovici will retain its staff and leadership. It will continue to operate as a standalone company under the Verint umbrella.

Ecstatic Leadership

Dan Bodner, Verint’s CEO, commented on the acquisition:

“This business combination will change the playing field in the market, advancing our customers around the globe through a solution designed to help them achieve their voice of the customer goals at all levels – from the contact center through the entire enterprise. Combining Vovici’s deep domain expertise with our actionable intelligence vision will further position us to solidify our already strong market leadership position.

Further, the combination is a strategic move that will fill a void in the market by enabling customers to extract tremendous value from this emerging toolset for the chief customer officer. It will offer our combined customers another means to extract critical information through sophisticated enterprise feedback and robust analytics to better anticipate, understand and act on the VoC – helping foster more loyal customers and drive more profitable business outcomes.”

 

Greg Stock, Vovici’s CEO, was also positive about the acquisition:

“Generating a unified view into the customer experience is a critical enabler for every business today. Whether driving customer loyalty, optimizing operational performance or supporting broader business transformation initiatives, the addition of Vovici to Verint’s proven, market-leading solutions will greatly expand our ability to help unlock the value of customer experiences.”

 

According to Nancy Treaster, VP and general manager of the Witness Actionable Solutions line at Verint, the company had been interested in acquiring an EFM vendor for almost a year. She was interested in Vovici because of its staff and expertise.

Multivector Views

Leonard Klie, a senior editor for CRM magazine, reported on the functional details of the platform integration:

“Treaster also notes that Verint will almost immediately add its text and speech analytics tools to the Vovici platform and add telephone-based interactive voice response as a survey mechanism for Vovici. On the Verint side, the company will integrate EFM into its own VoC platform, “providing us with a listening platform that we did not have before,” she says.”

 

He also reported on the comments of DMG Consulting, an industry research firm:

“‘Vovici has strong EFM capabilities. Verint has strong analytics capabilities. Put them together and you really do have a complete voice of the customer analytics platform,’ says Donna Fluss, president and founder of DMG Consulting. ‘It’s a very good move with great potential for both companies.’”

 

Looking deeper into the companies, David F. Carr, a columnist for InformationWeek’s The Brainyard, analyzed the way the companies’ strengths would complement each other:

“Verint licenses a version of Clarabridge’s text analytics engine, which it uses for customer analytics that covers social media, email, and the output of its proprietary voice analytics technology. Because one of Verint’s specialties is analytics and workforce optimization software used in call centers, its analysis of customer sentiment has traditionally been tuned to evaluating the quality of service delivered by customer service representatives. The Vovici acquisition will propel Verint deeper into the marketing applications of customer analytics, since Vovici customers include chief marketing officers interested in mining customer sentiment for clues to their product and branding strategies, as well as executives charged with monitoring customer satisfaction.”

 

By integrating the two data sets of company-side and client-side will create a great platform for Voice of the Customer/Customer Experience initiatives, says Esteban Kolsky, a customer strategy consultant, in a recent blog. Yet he remained skeptical on whether companies will ultimately be able to benefit fromm increased information. Though the data integration would not solve the problem of companies not acting on information, it would still have value:

“The integration between Verint and Vovici (Verici? Vovint? I will leave that to the tabloids) will not solve the issue of acting on the insight, but will bring two clear value propositions (once it is all done, skepticism is a healthy habit): aggregate more data for deeper and more tactical insights into operations, and bring actionable insights closer to fruition by making some (or most, actually) of the customer service systems available via Verint’s integration to startimplementing those insights, improving experiences and closing the loop.”

 

What’s your take on the Verint acquisition of Vovici? A sign of times to come? A move towards a 360 degree total Voice of the Customer software solution? Is Verint poised to dominate the industry? Share your thoughts in the comments below.

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