Competitive Analysis. Submitted by. Value Statement

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1 Value Statement To ceaselessly strive at maximizing value for our customers by enabling the delivery of highest quality sales & marketing solutions at the lowest possible cost; driven by our customer focus, and our determination to work as a TEAM with our customers Competitive Analysis Submitted by Jay Jablonski VP & GM LEAD TO MARKET P: F

2 Introduction This analysis provides detailed information on how XXXX s competitorsare using Cloud Services and Social integration platform to promote their products and services. LEAD TO MARKET uncover the competitive landscape by revealing each client s business model and provide you with market development and positioning strategy to compete effectively in the IVR market. Data Analysed We gathered and interpreted the following data and use our findings as the basis of our recommendations: LEAD TO MARKET first did a detailed review of each company websites. Gathered data by talking to sales executives of each company. Identified the Business model and connectivity methods of each company. Collected data based upon the market segments, products and key performance indicators of each company. Key Benefits LEAD TO MARKET pinpoints each company s social media integration strategy in the IVR market. Reports about website misleading of companies. Reports about the cloud solution strategy. 2

3 XXXX One of the top four largest hosted IVR providers in North America. 1 Market Segments - Banking, Healthcare, Government, Prepaid 2 Products Mobile, IVR, Cloud Platform, Analytics, Adaptive Solutions, Consulting Services, Notifications, Personalizations 3 Key Value Propositions Actionable analytics to help boost Customer Experience (CX) and automation rates. Visibility to forecast and track cost-savings and CX trends. Interaction-level analytics on customer behavior in IVR. Analytics to benchmark against similar self-service automation applications across industry. Holistic data to optimize IVR and turn self-service automation into a competitive advantage. Competitors 3

4 Competitive intelligence Analysis [24]7 Market Segments Retail,Financial Service,Car rental Technology, Telecommunications and Airline Products [24]7 Assist Web and mobile chat [24]7 Social Social sharing [24]7 Vivid Speech Speech IVR and mobile web [24]7 Speech Speech IVR [24]7 Mobile Native and mobile web [24]7 Predictive Experience Platform cloud-based customer engagement platform that powers each of our products Key Value Propositions Value All-In. - Solution includes data science expertise, design for omnichannel, full implementation and optimizations as part of managed service in the cloud. More Engaging Mobile Experiences Creating Predictive, Omnichannel Experiences in Mobile Transform Experiences on Mobile Devices with Persistent Context and Integrated Chat and Voice Insights Business Model [24]7 are not cloud based solution providers. They are hosted web service providers. Connectivity Connectivity is done through POD infrastructure. Client maintains a toll free (1-800) access number and this toll free number is redirected to [24]7 via voice XML code that exists on customer center. 4

5 There are different call transferring methods - Transfer to systems After getting access to XML code, call is transferred to client for data validation. (eg: validating account number) Transfer to agents Assist for voice Assist for voice technology sends images to the customer s devices like smartphones, tablets and . Assist for IVR Assist for IVR offer client a chat exchange service. This is used by the companies if transfer queue is long. Vivid Speech technology Vivid Speech technology enables speech, touch, and visual display in IVR interactions. This technology is mainly used by the companies in the financial sector for fraud detection. American Express uses Vivid Speech technology for fraud detection. Strengths- [24]7 s customer engagement software and services make it simple for consumers to interact with companies through the web, mobile, chat, social, and phone channels. Theyalso can provide scalability in their service. Weakness- [24]7 s technology cannot integrate with any CRM solutions.currently they do not provide integration. Pricing- [24]7 s pricing is based on solutionsprovided. It depends on agents, speech recognition etc. 5

6 Genesys Market Segments Retail,Pharmaceuticals, Energy& Utilities,Financial Service, Higher Learning, Media and Entertainment,Governement,Healthcare,Technology, Telecommunications and Travel & Hospitality Products Key Value Propositions Customer Experience(CX) Platform, CX First Inbound IVR Outbound IVR Premier Edition - VCC Mobile Voice Recognition CX Analytics Voice Biometrics Payment Processing Salesforce Integration Speed: The Genesys CX Platform facilitates quick set-up and deployment of conversation flows. Plus conversation flows can be updated and pushed to the cloud in a matter of minutes. Intuitive: The Genesys CX Platform is designed for business users, so there is no need for technical skills and the easy-to-use menu options make building a conversation flow a snap. Personalized: Connect the conversation flows to your own databases (CRM, web services, etc.) to provide customized experiences for your end users. Insights Business model Genesys is a subscription based solution company. The company sells service to spectrum of organization who manages inbound/outbound call service. They are web based solution providers with redundant server. Genesys provides Multitenant environment, a company can have several clients on same service. It also provides hosted tenant option for those clients with security needs. Contracts are flexible and providescalable servicesfor clients specific for holiday seasons. 6

7 Connectivity Connectivity is at the client end and clients should have a 10 digit phone number. Genesys currently uses third party providers for IP phone and will have a native solution from July Strengths The most significant strength suggested by the sales person is that it can route calls based on skills, product needs and functions. Genesys s advanced technology can integrate with CRM solutions like system of records, point of sales solutions and payment gateways. The company also provides analytic solutions for the business. Weakness Website is misleading in terms of product offering. Most of the products are future releases. They do not have Predictive dialing technology and does not provide a social media integration platform. Officials are expecting and chat capability technology from July. Pricing- Pricing is differentiated based on the size of the companies. For small companies pricing is based onminutes. In case of larger companies Genesys first estimates the use pattern of customer service and then pricing is allocated based on the number of seats. 7

8 Nuance Market Segments Healthcare,Retail, Financial Service, Travel & Hospitality Automotive,Government,Healthcare and Technology, Legal, Construction, Education, Journalism, Teloc/ Service providers Products Nina Virtual Assistants ( for web and mobile) - an intelligent touch of humanity Dragon Powerscribe 360 self service with Key Value Propositions Platform that transforms devices, consumer electronics, services and mobile apps into intelligent personal assistants More than10 billion transactions to date have touched Nuance s mobile cloud Power of Conversation - engages customers in natural conversation Accuracy - Optimization- monitors every customer interaction Insights Business Model- Nuance is the market leader in speech and text recognition technology. The company delivers engaging self-service platforms for customers to transact, navigate, ask questions, and get exactly what they need. Nuance works independently and also with other IVR providers like Cisco, Avaya, Genesys and Interactive Intelligence. 8

9 Connectivity Nuance is not a unified solution provider. They work along with other contact centers that need automation using speech technology. Contact center should have agents and IVR platform (voice XML platform) to use Nuance technology.contact center then utilizes Nuance s ASR (Automated Speech Recognition) and TR (Text Recognition) software for various applications. For example if a customer updates his/heraddress, then Nuance s ASR technology goes to backend database of the client and then updates the address.confirmation is done through TR (Text Recognition) software. TR software sends the message to the customer confirming the change of the address. Strengths Nuance is leader in speech and text recognition technology. Most IVR providers work with Nuance Speech technology. Weakness- Nuance does not do chat and services. They are more of a channel model service provider rather than a direct model service provider. 9

10 Interactive Intelligence (ININ) Market Segments Accounts Receivable Management Finance Government Insurance Outsourcers Utilities Products Key Value Propositions Customer Interaction Center Interaction Analyzer Interaction Collector Interaction Decisions Interaction Dialer Interaction Director Interaction Feedback Interaction Mobilizer Cloud Solutions - CaaS (cloud as a solution)offers contact centers the level of uptime they expect to keep business operational. Reliability. We offer guaranteed service levels with % application uptime. Stability- 20years experience with 5000 customers. As a public company with more than 1,500 employees, our sustained financial stability and growth is well documented Scalabilty Globalization Integration with CRM and UC applications Insights Business Model Interactive Intelligence (ININ) is Multi instance solution company rather than a Multitenant provider.it provides both cloud and hosted service. In 2012, the company had revenue of $237 million and in 2013 it had $318 million, an increase of 34% percent over Fifty percent of revenue in 2013 was derived from cloud solution. Majority of clients are financial institutions. ININ has close to 100 clients in east of Mississippi. Many Retailers, Automotive manufacturers also utilizes Interactive Intelligence platform. 10

11 Connectivity ININ manages the service via single platform Customer Interaction Center (CIC). CIC gives contact center a standard based, multichannel software platform to blend all media types with client s business systems. The company has12 data centers around the globe, out of these 2 Data centers are in US (Indiana and Colorado). Interactive Intelligence provides cloud solutions for the mid-size to Large Contact Center, Small Contact Center (10-50 agents) and Unified Communications. For cloud solutions ININ fully manages the server and maintains all regulation compliance. ININ provides PCI certified environment. One of the distinctive features of ININ service is Hybrid mode solution. In Hybrid mode solution the voice data is integrated into the client site and audio is kept local. This technology is mainly used by the healthcare industries. Strengths- ININ offers an open and standard based architecture. Core strength of the company is All in 1 platform service. The company offers solutions in workforce management& forecasting, implementation assistance, integrations with other system and Core PBX. They have a strong R&D department. Interactive Intelligence is known for their strong Financial Performance and is traded in NASDAQ. Weakness- ININ does not have a speech and text recognition technology. They work along with Nuance Communication in Speech and text recognition services. Pricing- ININ offers price per agent license modal. They don t charge per minutes used. 11

12 incontact Market Segments Retail Finance Technology Insurance In Contact call center management software delivered via cloud as SaaS (Software as a Service) Products Key Value Propositions Delivered via the cloud as Software as a Service (SaaS) Easily add functionality as you need it No need to buy, maintain or upgrade hardware Pay only for what you use each month Automatic software updates at least twice yearly Support multiple call centers, including at-home agents 99.99% availability SLA Insights Business ModelinContact is True Cloud, Multi-Tenant, Redundant provider. They are the only company which provides connectivity.they provide line in connectivity and can integrate services for clients with existing carrier infrastructure. incontact s major clients are Pfizer, Aetna, Siemens, Verizon and Raytheon. 12

13 Connectivity incontact provides Multi-channel communications via one universal queue. On the front end it measures how traffic ends to contact centers and on the back end incontact provide MPLS (Multi-protocol labor switching) circuit to the clients. The company can ride with existing bandwidths provided by clients. Bills for inbound calling come from incontact. incontact is structurally different from other providers. Clusters are built upon 2 main datacenters and redundancy is built based upon the interaction with the client. incontact takes the service from the clients and put them on their racks. Strengths InContact reverse engineered the dialing paradigm. The company has a predictive outbound dialing technology called Personal connection. It minimizes the lag time of predictive dialing and agents can detect live dialing machine. incontact is a publically traded company. According to officials Platform availability and uptime and Customer retention rate of 93% are the key performance indicators for the company Weakness The company does not have a fully integrated social media platform. They are currently working with Lithium Technologies to integrate IVR and social media technologies. Competitors Positioning Chart High Social Media Integration,Low Cloud Solutions High Social Media Integration, High Cloud Solutions Social Media Integration Less Cloud Solutions, Less Social Media Integration Cloud Solutions High Cloud Solutions, Less Social Media Integration 13

14 Recommendations [24]7 are positioned as a provider with high social media integration. They do chat integration service but lack in integration platform. They are hosted web service providers. Nuance is leaders in speech and text recognition technology. Most of the IVR providers use their speech and text recognition technology. Nuance also does not provide chat and integration services. Genesys was misleading in terms of websites offerings and they are not true cloud solution provider. incontact and Interactive Intelligence are publically traded companies. incontact is the only company which provides connectivity with a strong cloud presence and they differentiates from other company through their Predictive outbound dialing technology. Interactive Intelligence (ININ) also has high cloud presence in IVR market and they work with Nuance in speech and text recognition services. Majority of the players in the IVR market do not have a fully integrated solution in social media platform especially in and chat integration.xxxxs will have to incorporate a Market Penetration strategy and leverage its strength in social media integration and cloud solution. 14