How to Avoid theTop 5 Pitfalls ofSoftware ValueRealization

The Verint Customer Engagement Cloud Platform

Table of Contents
The Value Realization Challenge

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1. Employee Churn5

2. Outdated Operations

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3. Lack of Adoption

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4. Poor or Inconsistent Processes

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5. Lack of Governance9

Verint Value Realization Services

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Key Benefits of Verint Value Realization Services

13

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

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The Value Realization Challenge
Investing in a software solution takes time, effort, and thoughtfulconsideration. Because of this, expectations are high for fast valuecreation and return on investment. As part of your implementation
strategy, you want to have:• A clear roadmap to value creation• Processes and oversight to ensure solution adoption• Measurable success metrics
Unfortunately, a lot of things can get in the way of realizing thefull value of your software implementations. An organizational ormarket shift can affect priorities and take focus and resources awayfrom your project. Your company can experience turnover, andnow, the people trained in the solution are no longer with yourorganization. You may have pockets of resistance with individuals
who are unwilling to change and are still following the old ways.

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

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Let’s explore the top 5 pitfalls of software initiatives.
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3

4

5Employee
ChurnOutdatedOperations

Lack ofAdoption

Poor or
Inconsistent
Processes

Lack ofGovernanceHow to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

41. Employee Churn
It may not surprise anyone who’s been in the contact center industry for a while thatemployee turnover is a huge challenge, but did you know that one in five new hires
leave within the first 90 days? 1 That’s a lot of time and investment in recruiting andtraining walking out the door.
Here’s a very common scenario created by high turnover.
Say you have a workforce management (WFM) team coordinating the schedules for
500 employees. The lead administrator of your software solution, who was trainedby the vendor, announces they are leaving. In the two weeks that follow, the teamscrambles to train another team member on all the functionality they leverage within
the solution. The new lead is a little nervous, and there are some steps they aren’t
confident in, but they are able to keep the ship afloat.
But six months later, that person leaves, and they train the next person, and so on,and so on. It becomes the telephone game. Now, the lead administrator is likely
using the bare minimum of functionality to produce schedules, and the WFM teamand employees are frustrated with inefficient schedules and gaps in reporting.
1

How to Avoid the Top 5 Pitfalls of Software Value Realization

Call Center Recruiting Faces Increased Worker Expectations, HRO Today Research Flash Report, Vol. 6, Issue 3, 2022

The Customer Engagement Company®

52. Outdated Operations
Old habits are hard to break, and some say, “if it ain’t broke, don’t fix it.” But what if you are
missing out on new opportunities because you are doing things the same way you have forthe past decade? Let’s take quality management as an example.
Traditional quality management programs rely on a random sampling of calls to evaluate
employee performance and the quality of the customer’s experience. These evaluations
were manual, time consuming, and only covered ~1 percent of the calls/interactions.
In the past ten years modes of interactions have expanded to include self-service,
digital, text, social and more, and most call centers have moved from manual quality
evaluations to online quality platforms and more sophisticated solutions that canautomate call and digital-channel-interaction selection, distribution, and calibration.
Today, you can take advantage of automated call/interaction scoring, enabling you
to discover the quality of 100 percent of all interactions, not just calls.
Where do you stand in this quality management evolution? In what other areas
are you hanging onto old habits?

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

63. Lack of Adoption
Without the right training, processes, and governance, software
adoption can be extremely low. In fact, according to FinancesOnline,
the average cloud software adoption rate for CRM, ERP, data
analytics, and productivity applications is just 16.75 percent! 2

This success helped the insurer rely more heavily on speech analytics
for identifying and resolving other problems across the enterprise,increasing solution adoption and expanding their use of the solution’scapabilities.

One software solution that has taken the contact center industry
by storm is speech analytics, with 80% of businesses activelytranscribing speech data. However, 66% of these organizations failto fully leverage conversational assets for business objectives.3
For example, companies often implement speech analytics with
the intent of monitoring interactions for process compliance. Whatthey fail to do is leverage the insights that speech analytics candeliver for improved customer experience. For example, an insurer
was incurring high call volumes regarding their mobile app. Thisprompted the CX leadership to dig into the cause. Analyzing thetranscripts for these call types, they found that customers were notgetting confirmation of receipt when photos or police reports from
accidents were uploaded on the mobile app. The insurer was able
to add a confirmation popup to the app within a week, decreasing
mobile app customer service calls by 25%, saving over $2 million
dollars annually while greatly improving the customer experience.
How to Avoid the Top 5 Pitfalls of Software Value Realization

285 Important SaaS Software Statistics 2022: Market Share & Data Analysis, by Nestor Gilbert, FinancesOnline.com,November 8, 2022

3Opus Research Conversational Intelligence Intelliview, December 2022

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4. Poor or Inconsistent Processes
Verint’s 2022 Engagement Capacity Gap™ study found that one of thetop three challenges organizations are facing is operational and datasilos.4 Different groups work independently of each other and don’t or
can’t share their data, systems, or people. This creates little fiefdoms
in the organization, with their own processes and ways of managing
people and work. It becomes very difficult to understand who isdoing what, who’s available, and where there are opportunities forconsolidation or sharing of resources.
Here’s a prime example. Say you are an insurer. You have a sudden spikein calls because of a natural disaster, leading to long hold times andstressed-out agents. Meanwhile, the folks in claims and underwriting
have excess capacity as they wait for the applications to come in.
Wouldn’t it be great if you could schedule resources across the functions
to better balance workloads? This is only possible if both groups arefollowing the same workforce management processes.

How to Avoid the Top 5 Pitfalls of Software Value Realization

4The Engagement Capacity Gap™, Verint, March 2022

The Customer Engagement Company®

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5. Lack of Governance
The explosion in interaction channels not only challenges your agents withmanaging each channel, but also challenges your quality analysts and leaderswith monitoring each channel for quality and compliance. A lack of oversightacross channels, and a lack of tailored success metrics for each channel,
can lead to high variability in metrics, ineffective quality evaluations, andinaccurate employee performance assessments.
If you manage quality analysts, it is imperative that your team answers
questions about quality in the same way, every time—no matter who isscoring or presenting the information to the employees. When you lackthat cohesiveness, it thwarts the credibility of your quality evaluations,which can undermine employee trust and your ability to achieve yourquality goals.
Standardized governance and consistent processes and approaches
are critical to ensure your solutions are driving the right outcomes andachieving your business goals. Unfortunately, many organizations lackthe staffing to continually monitor and measure their applications
and ensure value is created and realized. New priorities pop up,employees leave, old habits creep back in—all of which inhibit yourability to realize the full value of your solutions.
How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

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What can you do to avoid these 5pitfalls of software initiatives?

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

10Verint Value Realization Services
Verint® Value Realization Services are designed to help Verint
customers mature and optimize their use of Verint software. We havedefined offerings by solution to help you:SM••••

Check out all of our Value Realization Services
in the Services Catalog on Verint Connect.

Create a clear path to value.
Increase solution adoption.
Identify additional use cases for your solutions.
Uncover new challenges the Verint Platform and its applications
can help solve.

In a Value Realization Services engagement, Verint businessconsultants work with you to identify and understand your businesschallenges, help define objectives and success criteria, and review
your current processes. These services engagements often include
a detailed usage analysis, documentation of recommendations
and opportunities, and, where applicable, software configurations
designed to increase value. Focus on proven methodologies and bestpractices for your specific solutions helps ensure greater adoption, so
you can capture the full value the solutions have to offer.

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

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Sample Value Realization Services
Verint Quality Maturation can help you gain a full understanding of how yourquality program compares to cross-industry best practices. We conduct a review
of your quality program and solution usage focused on form, application, andprocess improvements to help drive efficiency and effectiveness. We help you
identify ways to generate quality data on every call/interaction you record.
SM

Verint Analytics Practice Acceleration helps your speech and text analytics
team adopt proven methodologies and best practices for continually
generating results from customer insights and sentiment captured by
Verint Interaction Analytics™. Our consultants work with you on category
development, ontology and/or sentiment tuning (if applicable), reporting,discovery, and analysis of root causes and/or business opportunities.
Analytics Practice Acceleration can help position your analytics team forindependent and ongoing success.
SM

Verint Knowledge Value Optimization helps you evaluate the searchexperience of your Verint Knowledge Management™ solution to see whereit scores on the maturity curve. Based on the results, we recommend
approaches and activities that can help ensure that your knowledgebase
is serving the right information at the right time for your knowledge users.
SMHow to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

12Key Benefits of Verint Value Realization Services
Verint Value Realization Services can enable you to track actual business impact
and ultimately, shareholder value. Key benefits can include:
••
•
•
•

Identification of cost-reduction opportunities
Improvements to top-line revenue
Increased scalability—enabling other parts of your organization to see thevalue and adopt similar solutions and a consistent way of working
A sense of accomplishment for project participants who can see and quantify
the impact of their work
Recognition of a job well done, promoting employee loyalty and well-being

Visit Verint Connect to learn more about
our Value Realization Services.

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

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at any time without notice. Features listed in this document are subject to change andnot all functionality is available in all configurations. 05.2023

How to Avoid the Top 5 Pitfalls of Software Value Realization

The Customer Engagement Company®

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