Market Research Report
2017-2018 Workforce Management Product and Market Report
|Published by||DMG Consulting LLC||Product code||247393|
|Published||Content info||406 Pages
Delivery time: 1-2 business days
|2017-2018 Workforce Management Product and Market Report|
|Published: March 21, 2017||Content info: 406 Pages||
DMG Consulting's ‘10th annual Workforce Management Product and Market Report’ provides the most detailed coverage and incisive analysis of this technology sector. The 406-page Report contains comprehensive vendor, product, trend, price and market data to help contact center, back-office and IT leaders select the right WFM solution for their organization. It also provides guidance for achieving a successful implementation and a rapid ROI.
The workforce management (WFM) market is ready for a major transformation. Two inter-connected trends are driving vendor investment and prospects' interest in WFM solutions. Enterprises are looking for flexible and accurate WFM solutions to help them cost effectively deliver a personalized experienced to each and every customer. This is an essential goal in a market dominated by Millennials, who expect the companies that they do business with to have a thorough knowledge of their interaction history and be familiar with their wants and needs. At the same time, companies are seeking solutions to address their enterprise-wide requirements, including the needs of their back offices and branches. WFM vendors are starting to invest in new technology and approaches, including intraday management and next-gen WFM capabilities, to deliver on these high-priority objectives.
Intraday management, which has been an area of weakness in many contact center solutions, is finally being addressed by emerging solution providers. When unforeseen events - major weather disruptions, operating errors, or a highly contagious virus in the contact center - impact staffing or transaction volumes, WFM administrators have to figure out how to re-forecast and change schedules on-the-fly. Companies need flexible, easy-to-use and precise WFM solutions that can proactively identify staffing issues and, importantly, provide real-time guidance to managers on how to address them.
DMG has introduced the concept of NewGen WFM, supported by adaptive real-time scheduling, a new approach to intraday management. To address unanticipated changes in demand and staffing, these WFM modules must be able to identify out-of-adherence situations, re-forecast schedules, determine the skills and people required to address the new projections, and bring in properly skilled employees. NewGen WFM solutions must be supported with faster processing capabilities, which the cloud enables, and integration to operating systems that can provide the intelligence to route interactions to appropriate resources.
NewGen WFM is a win for enterprises, contact center staff and the company's customers. Employees, particularly Millennials, are freed from the traditional WFM limitations of rigid schedules and compensation. These solutions are designed to address fairness at all levels to engage employees and provide them with more choice and flexibility to address their scheduling needs. As the goal of these new real-time scheduling modules is to make sure that the company has the right resources at all times to meet their service level commitments, customers benefit from an improved experience and greater engagement at every step of their journey. The combined benefits from more satisfied employees and customers will help to improve a company's performance and bottom line.
DMG anticipates that the WFM sector will continue to grow at a strong rate for a mature market. The number of WFM seats is expected to grow by 8% in 2017 and 2018, and by 9% in 2019, 2020 and 2021. The growth rate could outperform these projections if the vendors become more effective at communicating their value to buyers outside of contact centers, such as back-office and retail/branch environments. Additionally, the contact center market is in the midst of a major refresh cycle, and many companies that are replacing their ACDs may also look to replace their WFM solutions.
The 2017 - 2018 Workforce Management Product and Market Report provides an in-depth analysis of the contact center WFM market, the competitive landscape, product suites, technology and innovation. It analyzes the service and business trends that are redefining staffing paradigms, management practices, and how enterprises and their contact centers view and interact with their customers, prospects and employees. The Report examines WFM market activity and provides 5-year market projections. It also explores back-office and branch WFM market opportunities and applications.
Eight leading and contending vendors are covered in the Report: ActiveOps, Aspect, Calabrio, Intradiem, NICE, Teleopti, Verint and WorkFlex. ActiveOps, Intradiem and WorkFlex, are covered at a high level, as each of these vendors provides a component of a total WFM solution; ActiveOps addresses the capacity needs of back offices, and Intradiem and WorkFlex handle the intraday management challenge.
Appendix: Workforce Management Vendor Directory