DMG Consulting LLC, a provider of contact center and real-time analytics market research, has published the 2008-2009 Quality Management/Liability Recording Product and Market Report.
The Workforce Optimization (WFO) market continues to be a great performer, despite the recession gripping the US. In the first half of 2008, total revenue for the Quality Management (QM)/Liability Recording (WFO) market was $1,336 million. This represents an 18.3% increase over the $1,230 million of revenue in the first half of 2007. The contact center segment of the market exceeded $507 million in the first half of 2008, a 13.4% increase over the same period in 2007. Despite the worldwide economic slowdown in 2008, DMG predicts that the Quality Management/Liability Recording market will exceed $2.5 billion for the year, once all year-end reporting is completed.
2008 was a unique year for the WFO market. With no mergers, growth was organic. WFO vendors have succeeded by listening to their customers and delivering solutions and capabilities that meet their needs. This is the market's ongoing formula for success. The 2008 - 2009 Report features a new section dedicated to Product Innovation and Vision, which continue to fuel growth in the WFO market. Responding to customer needs, vendors have enhanced core recording and quality assurance tools and have seen increased sales of high-value WFO analytical modules, such as Speech Analytics, Surveying/Feedback, Contact Center Performance Management, and Coaching.
DMG expects the recession to last through most of 2010, but forecasts continued growth in the QM/Recording market. DMG expects this market to outperform other contact center technology sectors because WFO solutions are viewed as mission-critical, having proven their ability to improve productivity, customer retention, the customer experience, and to generate incremental revenue.
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