Market Research Report
2016 Workforce Management Product and Market Report
|Published by||DMG Consulting LLC||Product code||247393|
Delivery time: 1-2 business days
DMG Consulting's 9th annual Workforce Management Product and Market Report provides the most thorough and detailed overage of this technology sector. The 381-page report contains comprehensive vendor, product, trend and market data to guide contact center, back-office and IT leaders in selecting the right WFM solution for their organization, and explains how to achieve a successful implementation and a rapid ROI.
2016 is poised to be a breakthrough year for the workforce management (WFM) market - vendors are introducing innovation and end users are investing in their future. 2015 year was a good one for the WFM market. The number of WFM seats increased in 2015 by 10.6%, and the number of customers by 7.7%. The market is positioned for even greater growth in 2016, as a new generation of WFM solutions comes to market with capabilities and features that address the traditional needs of contact centers as well as the requirements of back offices and branches. Another factor driving market growth is the availability of WFM capabilities in the cloud, making these solutions attractive and easy to access for businesses large and small, in all verticals.
In a global economy, where customers and employees may be located in many sites across the globe, business needs are increasingly complex. Enterprises are employing workers in multiple geographies, some with unique work rules and region-specific staffing requirements. Customers from around the world are reaching out to companies in an expanding number of channels. They expect an easy and high-quality user experience, and companies have to be staffed with highly skilled employees who can address customers' needs in their channel of choice. Sophisticated omni-channel WFM solutions are a must-have to address the need for a seamless experience and consistently outstanding journey for customers, regardless of the medium of communication.
There is a tremendous opportunity to use WFM in back offices and branches. These environments have unique needs that cannot be properly addressed with traditional contact center WFM solutions. The new generation of WFM offerings is using algorithms and functionality tailored to address issues like deferred work and backlog, which are characteristic of back-office activities. The WFM vendors are developing work allocation and management modules that track work as it flows through back-office departments. Making this data available to WFM systems enables companies to forecast future volumes correctly and staff their back and front offices appropriately.
WFM solutions are evolving to meet the needs of the Millennial workforce. Innovative features are helping address this generation's need for work/life balance. Self-service capabilities are empowering employees to take an active role in managing their schedules. Intraday management capabilities allow companies to remain fully staffed with skilled resources, despite any last-minute changes in employee schedules and workload. These solutions also help to optimize frontand back-office activities by taking advantage of downtime in contact centers. Enhanced flexibility in scheduling, a hallmark of the new WFM solutions, increases employee engagement and satisfaction and improves productivity for companies; everyone wins - employees, enterprises and customers.
DMG expects the number of seats in the WFM market to increase by 11% in 2016, 2017 and 2018, and by 12% in 2019 and 2020. It's possible that the revenue in the WFM sector will grow more quickly than seats, as vendors introduce and sell innovative capabilities like intraday management and mobility to the market. The greatest potential for revenue expansion comes from sales of back-office and branch WFM solutions. If the vendors figure out how to communicate the benefits of using WFM in these operating areas and can open up these market opportunities, the growth rates will likely exceed DMG's expectations.
The 2016 Workforce Management Product and Market Report provides an indepth analysis of the contact center WFM market, competitors, suites, competitive landscape, innovation, end-user satisfaction, as well as market, business and servicing trends and challenges. It also analyzes WFM market activity and provides 5-year market projections. The Report explores the growing back-office and branch WFM market opportunities, and applications that will drive future market growth. Nine leading and contending vendors are covered: Aspect, Calabrio, inContact, Interactive Intelligence, Intradiem, NICE, Teleopti, Verint and WorkFlex. inContact, Intradiem and WorkFlex are covered at a higher level.
Contact Center WFM Building Blocks
Source: DMG Consulting LLC, March 2016