DMG Consulting's seventh annual ‘Contact Center Workforce Management Market Report’ provides the most comprehensive coverage of this technology sector. Its 358 pages are packed with all of the vendor, product, trend and market data that contact center, back-office and IT leaders need to find the right WFM solution for their environment, and to implement best practices for success.
The workforce management (WFM) competitive landscape is mature, but continues to evolve. The addressable market is growing, and many organizations are replacing outdated, complex, inflexible WFM solutions. And still others that may not have considered or believed they needed WFM in the past are now taking advantage of the powerful functionality available via cost-effective, flexible cloud-based solutions. The number of WFM seats grew by 20.4% between 2011 and 2012, and by 18.7% between 2012 and 2013. Much of this growth came from contact centers, but some of it was from the back office.
Combine this evolving landscape with the fact that vendors are finally making much-needed investments in their products and services, and you have unprecedented success rates and a snowball effect the market has never before seen: vendors investing to make their solutions better... interest from first-time buyers, large numbers of replacements from established customers... vendors eager to invest even more... and the cycle of success and innovation continues.
On the whole, WFM solutions help lower servicing, sales and processing costs through better agent/employee utilization, avoidance of overstaffing, and reduced overtime costs, while ensuring the right people with the right skills are available to deliver a great customer experience at the right time. WFM solutions also provide forecasting and scheduling capabilities that support blending and omni-channel staffing efficiency and optimization, which is increasingly critical in today's front- and back-office environments.
Vendors are working on new offerings as well as on improving features such as ease of use, intra-day management, agent self-service, and accuracy, to name a few. And many of the modeling techniques and algorithms that emerging WFM vendors are introducing are intended to handle newer channels, including chat, email, and social media. The forecasting requirements for the social media channels are different from voice calls (including deferred activities, carry-over, and the need for agents to handle multiple interactions at the same time).
This is great news for everyone involved, because WFM software remains the most important productivity tool in many contact centers and is rising in importance in the back office, as well. The better the solutions get, the more users will adopt, and the better the customer experience will be for consumers across industries and geographies. The ripple effect is almost immeasurable.
Prospects can now purchase a WFM solution on a stand-alone basis, as part of a workforce optimization (WFO) suite or from their automatic call distributor (ACD) vendor. The functionality, price, level of integration and benefits vary greatly, and no two systems are the same. DMG advises buyers to conduct thorough due diligence before making a WFM selection, as the degree of differentiation among offerings has never been greater.
DMG expects WFM revenue to grow by 10% in 2014, 12% in 2015, and 12% in 2016. A majority of the projected increase is due to the potential of selling WFM into back offices and branch operating departments. DMG also expects to see a large volume of contact center WFM replacements in 2015 and 2016, as well as smaller companies adopting WFM due to the ease of doing business in the cloud - a substantial growth driver for the next three years.
The 2014 - 2015 edition of the ‘Contact Center Workforce Management Market Report’ provides a detailed review of eight leading and contending WFM vendors. The vendors covered in this Report are: Aspect, Calabrio, Genesys, Interactive Intelligence, NICE/IEX, Noble, Teleopti and Verint. Four other solutions - InVision (injixo), Intradiem, Uptivity and WorkFlex - are covered at a high level..
Contact Center WFM Building Blocks
Source: DMG Consulting LLC, March 2014
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