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New IT/Contact Center Market Research Confirms Quality Monitoring Software as Top Investment Priority, Names Witness Systems Industry LeaderATLANTA (November 7, 2002) - Witness Systems (NASDAQ: WITS), a leading global provider of performance optimization software and services, today announced several new research reports depicting rising market demand for technology, such as the company's eQuality® software, as well as separate studies illustrating the company's increasing market share and demonstrable customer implementations of its solutions. Frost & Sullivan, a leading international high technology market consulting firm, projects a 26 percent compounded annual growth rate for quality monitoring software, the core market in which Witness Systems competes with its eQuality suite, through the year 2008. According to the firm's North American Agent Performance Optimization Software Markets report, published last month, low market penetration rates will keep demand for quality monitoring and contact center recording software high throughout the coming years. Further validating the continued growth of the quality monitoring market, Venture Development Corporation (VDC), an independent technology market research and consulting firm, is issuing a report focused on the relative importance of different contact center technology investments. Based on the contact center executives surveyed, the firm found that quality monitoring outranked all other technologies in importance - including computer telephony, CRM, e-mail response management systems and workforce management applications, among others. Illustrating an example of the importance of quality monitoring solutions such as eQuality, Aberdeen Group, a leading IT market analysis and positioning services firm, featured Continental Airlines' implementation of Witness Systems' eQuality solutions in its recently published What Works: Ten Significant Implementations in CRM/Call and Contact Centers study. Frost & Sullivan Recognizes Witness Systems' Market Leadership and Growth Witness Systems increased its market share in the North American quality monitoring market - retaining its number one position - according to Frost & Sullivan's report. In addition to its market share leadership position, the report named Witness Systems as the recipient of its "Market Engineering Award" for the second consecutive year. This honor is presented to the company that has exhibited market share leadership through the implementation of market engineering strategy. Witness Systems was presented this award for its excellence in all areas of the marketing engineering process, including the identification of market challenges, drivers and restraints, as well as strategy development and methods of addressing these market dynamics. "Witness Systems extended its leadership position in the quality monitoring software market, as the company's revenue increased in the first six months of the year - a notable achievement given the current challenging economic environment," said Katrina Howell, program leader of contact center services at Frost & Sullivan. "Key to this is the company's strong brand awareness and the breadth of its integrated performance optimization software suite." Frost & Sullivan also points to Witness Systems' leadership and the innovation of its eQuality software in the report, citing the eQuality suite as "feature-rich core customer interaction recording software" and part of a larger solution set comprised of a "well-integrated suite of applications sold in conjunction with quality, forming a compelling agent performance optimization suite. These include an analytical application with agent, management and executive scorecard capabilities and an e-learning application." Aberdeen Group Spotlights Key Contact Center Technology Implementations Aberdeen Group researched contact center technology deployments to determine both the quantitative and qualitative data of specific contact center implementations in its study, published in October 2002. A cross-functional team of Aberdeen analysts from three different practice areas - customer relationship management, communications infrastructure and services, and IT services - then independently reviewed, ranked and scored the submissions. Interviews also were conducted with the end user organizations to confirm the details of the implementations and collect additional information for the report. One of the 10 featured companies in Aberdeen's report was Continental Airlines. The implementation Aberdeen's study focused on was its deployment of eQuality from Witness Systems. Using the software, the airline carrier has experienced measurable results, including increasing e-ticket sales by eight percent, raising vendor referral programs by 22 percent, growing overall quality scores by 10 percent and increasing first-call resolution by 20 percent. Other benefits experienced by Continental include improvements in its team leaders' productivity and a 100 percent increase in the number of agent evaluations performed, enabling staff to benefit from more frequent performance feedback. Aberdeen found that "Continental Airlines' experience with an effective implementation of a quality monitoring and performance management system is an important 'leading indicator' of things to come in the contact center market." It also stated that what Continental and Witness Systems have found is "... an innovative way in which these monitoring technologies are being used to analyze customer behavior and buying activities; to better understand agent interactions with the customer and with contact center or CRM systems at the screen level; and to monitor, evaluate and improve agent performance in a systematic, repeatable and positive manner." "The clear, measurable results Continental has achieved using Witness Systems' eQuality solution led us to conclude that this was a significant and extremely successful CRM implementation, as well as a leading indicator of more widespread adoption of customer interaction recording systems," said Christopher Fletcher, vice president and research director at Aberdeen. "Used effectively, a quality monitoring - or customer interaction recording system - can provide the basis for ongoing performance improvements at the agent level, which can result in better operational efficiencies and measurable gains in customer service quality." About Frost & Sullivan Frost & Sullivan, a global leader in international strategic market consulting and training, presents Market Engineering awards to companies that demonstrate the diligence, perseverance and dedication required to develop a successful business plan and excel in the increasingly competitive global marketplace. Frost & Sullivan rigorously analyzes specific criteria to determine Marketing Engineering award recipients in a variety of regional and global market landscapes. Founded in 1961, Frost & Sullivan is headquartered in San Jose, California with offices located worldwide: New York, San Antonio, Toronto, London, Paris, Frankfurt, Beijing, Tokyo, Singapore, Mumbai and Kuala Lumpur. For further information, visit http://awards.frost.com. About Venture Development Corporation Venture Development Corporation, a technology market research and strategy firm, was founded in 1971 by graduates of Harvard Business School and MIT. Over the years, VDC has developed and fine-tuned a unique and highly successful methodology for forecasting and analyzing dynamic technology markets. The company has over 30 years of experience in providing market research, strategic analysis and consulting services to technology companies worldwide. The VDC mission is to provide our clients with strategic and tactical information that satisfies real needs and will provide lasting value, fostering client loyalty and respect. www.vdc-corp.com About Aberdeen Group Founded in 1998, Aberdeen Group is a leading IT market analysis and positioning services firm that helps information technology vendors establish leadership in emerging markets. The firm provides IT market intelligence, positioning, and market acceleration services to established and start-up technology companies. Aberdeen's consultants provide up-to-the-minute global IT market insights in more than 25 IT market segments. Research practices focus on emerging market opportunities, market growth rates, important industry trends and customer buying patterns. The firm also helps clients to identify new market opportunities, enter those markets successfully, and accelerate the adoption of new technologies. Headquartered in Boston, Massachusetts, Aberdeen has research and consulting divisions in Palo Alto, California; Fort Collins, Colorado; and Amsterdam, the Netherlands. www.aberdeen.com. About Witness Systems Witness Systems (NASDAQ: WITS) provides the contact center industry's first integrated performance optimization software suite to help global enterprises capture customer intelligence and optimize workforce performance. Comprised of business-driven multimedia recording, performance analysis and e-learning management applications, the browser-based eQuality® solution is designed to enhance the quality of customer interactions across multiple communications media, including the telephone, e-mail and Web. The closed-loop suite enables companies to record, evaluate and analyze customer contacts, and then launch e-learning to develop staff, generate additional revenue, and achieve greater customer retention and loyalty. An integrated business consulting, implementation and training methodology provides services to support an effective, rapid deployment of eQuality that enables organizations to maximize their return on investment. For additional information about Witness Systems and its eQuality software suite, visit www.witness.com, or call 1.888.3.WITNESS. Cautionary Note Regarding Forward-looking Statements Under the Private Securities Litigation Reform Act of 1995: Information in this release that involves Witness Systems' expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements that involve risks and uncertainties. These statements include statements about Witness Systems' strategies in the marketplace, its market position and its relationship with customers. All forward-looking statements included in this release are based upon information available to Witness Systems as of the date of the release, and the company assumes no obligation to update any such forward-looking statement. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, fluctuations in customer demand and the timing of orders; the company's ability to manage its growth; the risk of new product introductions and customer acceptance of new products; the rapid technological change which characterizes the company's markets; the risks associated with competition; the risks associated with international sales as the company expands its markets; and the ability of the company to compete successfully in the future, as well as other risks identified under the caption "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2001 and any other reports filed from time to time with the Securities and Exchange Commission. Witness, eQuality and the Witness logo are United States registered trademarks of Witness Systems, Inc., protected by laws of the U.S. and other countries. All other trademarks mentioned in this document are the property of their respective owners. Editorial Contact: Shana Peterson Porter Novelli 404.995.4505 shana.peterson@pnicg.com top of page |
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