Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • BW TV
  • Subscribe to Print
BW Businessworld

India Ahead In Customer Engagement Readiness: Verint Study

Indian firms were the top investors in customer engagement solutions in 2021, which has made them more resilient and better poised to close the customer engagement gap a study shows

Photo Credit : ShutterStock

1479205711_puOxtx_customer-engagement.jpg

In a global survey conducted across 13 key global markets including over 250 Indian CXOs for Verint, a US-based customer engagement company, also present in India for 20 years, 74 per cent Indian CXOs said they invested in customer engagement solutions in 2021; 88 per cent Indian CXOs said they felt highly prepared to deal with remote workforce challenges in 2022 and 77 per cent said they perceived building enduring customer relationships to be the biggest challenge in 2022.

The survey was part of the latest study - Engagement Capacity Gap (ECG) Benchmark Diagnostic by Verint® (NASDAQ: VRNT).

Indian firms were the top investors in customer engagement solutions in 2021, which has made them more resilient and better poised to close the customer engagement gap (what organizations need to do to meet customer expectations and the resources they have available to do it).

Verint has been in India for over 25 years and has over 43% market share here, positioning India amongst the top 2 markets contributing to Verint’s APAC revenue. Verint, which works with top firms in India across all major industries, conducted the study recently to understand the implications of the pandemic and the resulting unprecedented increase in digital first customer engagements that firms had to deal with, almost overnight. The survey was conducted amongst 2,742 decision-makers across 13 key global markets including US/Canada, UK, Australia/New Zealand, Japan, France, Germany, Spain, Netherlands, Mexico, Brazil. Out of these, over 250 CXOs were from India who oversee customer engagement and experience solutions for their organizations.

India related findings from the ECG report

The survey found that Indian market has shown solid improvement after the first wave of the pandemic, fueled by heavy investments in customer engagement solutions which has prepared them better for 2022. The study shows that Indian CXOs have been able to strike the right balance between automation and the human touch to better serve customers. They achieved this by deploying efficient self-service solutions for customers to decrease transaction load and by enabling employees with better tools and training to support consumers when required. Cloud, AI/ML, Knowledge Management and Workforce Optimization are the tools that Indian firms most need to invest in, to keep the momentum going.

Indian firms were the top investors in customer engagement solutions in 2021, which has made them more resilient and better poised to close the customer engagement gap (what organizations need to do to meet customer expectations and the resources they have available to do it).

Anil Chawla, Managing Director, Customer Engagement Solutions, Verint India – We are seeing Indian CXOs consistently striving towards delivering deeper, more meaningful, and valuable customer relationships by efficiently using cutting edge technologies like AI, Blockchain, Cloud and Data. By investing in the right customer engagement solutions at every touchpoint, be it customer-facing or at the back-end, they are already witnessing tremendous RoI in the form of increased brand-customer stickiness with simultaneous reduction in customer management costs.

Verint has been in India for over 25 years and has over 43% market share here, positioning India amongst the top 2 markets contributing to Verint’s APAC revenue. Verint, which works with top firms in India across all major industries, conducted the study recently to understand the implications of the pandemic and the resulting unprecedented increase in digital first customer engagements that firms had to deal with, almost overnight. The survey was conducted amongst 2,742 decision-makers across 13 key global markets including US/Canada, UK, Australia/New Zealand, Japan, France, Germany, Spain, Netherlands, Mexico, Brazil. Out of these, over 250 CXOs were from India who oversee customer engagement and experience solutions for their organizations.


Tags assigned to this article:
Customer engagement