29 Mar, 2019, 06:45 ET
DUBLIN, March 29, 2019 /PRNewswire/ -- The "2019-2020 Workforce Management Product and Market Report" report has been added to ResearchAndMarkets.com's offering.
2019-2020 Workforce Management Product and Market provides an in-depth analysis of the contact center WFM market, the competitive landscape, market trends and challenges, vendors, product suites, technology and innovation.
It provides an insightful analysis of how WFM is being re-engineered to meet the complex requirements of today's omni-channel, virtualized contact center environments, consumers' rising expectations and the demands of the modern workforce.
The report provides an analysis of WFM market activity as well as 5-year market projections. Six leading and contending vendors are featured in the Report: Aspect, Calabrio, Genesys, NICE, Teleopti and Verint.
The New Standard for WFM
Flex scheduling, agent self-service and adaptive real-time scheduling are the new standards of WFM. The WFM vendors are investing in delivering new and enhanced methods to improve the accuracy of forecasting and scheduling for omni-channel, multi-skill and blended environments. Many of these new algorithms leverage AI technologies and are optimized for each discrete channel.
Leading WFM solutions have re-imagined the traditional fixed-shift staffing paradigm and utilize flex scheduling, which empowers agents to create and manage their own schedule via self-service portals. Adaptive real-time scheduling is being used to address the intraday challenges of volatile demand and fluctuating resources. It re-forecasts intervals for the remainder of the day, determines the required skills and resources to address new projections, and automates the required scheduling changes to acquire or dismiss resources.
The WFM sector has undergone a dramatic transformation. The key differences between 'old school' and 'new wave' WFM are flexibility, mobility, enablement and automation.
The WFM market is performing extremely well, and is expected to continue to grow at a strong rate even though it is a mature market. This research anticipates that the WFM market will experience rapid growth over the next 5 years, increasing by 11% in 2019, by 10% in 2020 and 2021, and by 9% in both 2022 and 2023. However, it is possible that the rate of growth could be substantially higher if back-office and branch/retail implementations accelerate.
WFM is addressing staff demands for work-life balance: Flex scheduling and self-service empowerment are enabling agents to achieve control over their work hours. This is a major shift in the WFM world, a sharing of power with employees, who now have visibility into and control of their schedules.
Adaptive real-time scheduling allows companies to address variances from planned activities during the workday: Companies require WFM solutions that are self-adjusting and able to adapt in real-time to changing conditions. Adaptive real-time scheduling automates the intraday management challenge. These solutions can identify service level nonconformance and can forecast and reschedule for the remainder of the day.
AI is playing an increasingly influential role in the future of contact center technology: AI and machine learning are being leveraged to improve scheduling accuracy and fairness. They also support predictive technology to address hiring, agent churn, and to predict timely completion of work.
The report includes:
- Review of workforce management market segments and vendor-supported business activities
- Functional components that comprise contact center WFM suites
- Current market and business trends and challenges that are driving enterprise investments and influencing vendor innovation
- WFM market innovation, including a review of recently introduced functionality and what is planned for the next 12 - 18 months
- Insightful discussion of how artificial intelligence (AI)-enabled technologies will be instrumental in the future of WFM
- Comprehensive analysis of the fundamental requirements of WFM solutions: forecasting, scheduling, managing, automating, engaging and planning
- A look at the latest developments in the back-office and branch capabilities included in the 6 featured WFM suites
- WFM market activity analysis, adoption rates and 5-year market growth projections
- Review and assessment of the WFM competitive landscape, including an overview of the 6 leading and contending WFM vendors, with company snapshots, their WFM suites, packaged solutions and small and mid-size business (SMB) offerings
- Implementation analysis, including vendor methodology, best practices, maintenance and support, workshops, training and professional services
- WFM benefits and return on investment (ROI) analysis
- Vendor pricing for 250-seat on-premise and cloud-based WFM implementations, including incremental costs for optional modules
- Comprehensive customer satisfaction survey results that measure and rank ratings across 16 product components, 16 effectiveness categories and 10 vendor categories
- Detailed company reports for the 6 leading and contending WFM vendors, analyzing their products, functionality and future product development plans
- Comprehensive WFM Vendor Directory
Key Topics Covered
1. Executive Summary
3. Research Methodology
3.1 Report Participation Criteria
4. Workforce Management Market Segments
4.1 WFM Vendor-Supported Market Segments
5. Workforce Management Suites
5.1 Vendor High-Level Suite Capabilities
5.2 SMB and Packaged Offerings
5.3 High-Level Functional Summary
6. Workforce Management Market Trends
7. Workforce Management Market Challenges
8. Workforce Management Market Innovation
8.1 New Product Features
8.2 Future Enhancements
9. The Next Chapter for WFM
10. WFM Fundamentals: Forecasting, Scheduling, Managing, Automating, Engaging, Planning
10.1 Omni-Channel WFM: The Right Agents with the Right Skills at the Right Time
10.1.1 Omni-Channel and Multi-Skill Forecasting and Scheduling
10.2 Rapid Response: Real-Time Intraday and Adherence Management
10.2.1 Intraday Management
10.2.2 Real-Time Adaptive Scheduling
10.2.3 Real-Time Adherence
10.3 Workflow Automation: Less Time, Less Effort, Better Results
10.3.1 eLearning/Meeting Management
10.3.2 Vacation/Time-Off Management
10.3.3 Timekeeping/Payroll Management
10.4 It's All About Me: Agent Engagement and Performance Management
10.4.1 Agent Self-Service
10.4.3 Performance Management
10.5 The Best-Laid Plans
10.5.1 Long-Term Strategic Planning
10.5.2 Hiring Management
10.5.3 Workspace Allocation
10.6 Back-Office/Branch WFM
10.6.1 Desktop Analytics
11. Workforce Management Market Activity Analysis
11.1 Validating Market Numbers
11.2 WFM Market Share Analysis
12. Workforce Management Market Adoption
13. Workforce Management Projections
14. Workforce Management Competitive Landscape
14.1 Company Snapshot
15. Implementation Analysis
15.1 Integration Capabilities
15.3 Dashboards, Reporting and Analytics
16. Workforce Management Benefits and Return on Investment
17.1 Premise-Based Pricing
17.2 Cloud-Based Pricing
18. Vendor Satisfaction Analysis
18.1 Summary of Survey Findings and Analysis: Vendor Categories
18.1.1 Vendor Satisfaction by Sub-Category and Customer
18.2 Summary of Survey Findings and Analysis: Product Components
18.2.1 Product Modules/Components Satisfaction bySub-Category and Customer
18.3 Summary of Survey Findings and Analysis: Product Effectiveness Categories
18.3.1 Product Effectiveness Satisfaction by Sub-Category and Customer
18.4 Customer Background and Insights
18.4.1 Customer Background
18.4.2 Top Challenges to Solve with a WFM Solution
18.4.3 Strengths of WFM Solutions
18.4.4 Product Enhancements
18.4.5 Additional Comments
19. Company Reports
19.1 Aspect Software Inc.
19.6 Verint Systems
For more information about this report visit https://www.researchandmarkets.com/research/krbsr4/20192020?w=5
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