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DMG Consulting Releases 2020 - 2021 Intelligent Virtual Agent Product and Market Report

06-02-2020 11:02 AM CET | IT, New Media & Software

Press release from: DMG Consulting LLC

Who: DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services

What: Releases 2020 - 2021 Intelligent Virtual Agent Product and Market Report

When: Today, 1 June 2020

Where: Available at the DMG Consulting online store

Background:

DMG Consulting LLC, a leading provider of contact center, back-office and real-time analytics market research and consulting services, today released its 2020 - 2021 Intelligent Virtual Agent Product and Market Report. The Report provides an in-depth analysis of these artificial intelligence (AI)-enabled solutions, which are becoming mission-critical tools in this time of unprecedented social and business upheaval as well as in the digitally transformed future when the world of service establishes a "new norm."

The COVID-19 pandemic has highlighted the need for organizations to develop and implement reliable disaster recovery (DR)/business continuity (BC) plans and comprehensive self-service solutions. Many companies have transitioned their employees to work at home, and other businesses have had to furlough or lay off large numbers of workers in order to remain viable. IVAs are becoming mission-critical tools as organizations strive to maintain their service levels in the midst of the COVID-19 pandemic. They provide an automated means of responding to today's service needs, as they can provide support 24 x 7, in some cases taking the place of live-agent support.

IVAs have many advantages over outdated, inflexible IVR solutions. IVAs can be rapidly programmed and implemented, in some cases without the assistance of IT staff. IVAs are using AI and machine learning (ML), which enable them to respond to customer inquiries with concierge-style service. IVAs are highly effective at handling a wide variety of interactions in public and private organizations. Customer-facing uses include identification and verification of customers, responding to informational inquiries and FAQs, scheduling appointments, sending outbound communication reminders and notifications, processing payments, checking inventories, placing orders and account maintenance activities. Internal business uses include the ability to assist employees by automating tasks, increasing productivity and improving accuracy. "The critical role of IVAs on the front line of self-service during the COVID-19 crisis has eliminated any doubt about the efficacy of these solutions," said Donna Fluss, President of DMG Consulting. "IVAs have assisted service departments in responding to a deluge of inquiries during the pandemic, in some cases providing fully automated self-service to replace a diminished staff of live agents."

The IVA market has experienced significant investments over the last few years, resulting in technologically advanced solutions. AI-enabled IVAs are making quantifiable contributions to companies, providing personalized, concierge-type self-service. The value proposition for IVAs is compelling, and this market is expected to hold its own during the current economic challenges around the world. Once the recovery process is underway and the "new normal" takes hold, adoption is expected to increase.

The 2020 - 2021 Intelligent Virtual Agent Product and Market Report provides an in-depth analysis of these solutions, which should become an elemental part of the strategic direction of contact centers and customer service departments. This Report examines the IVA market, competitive landscape, technology, products, functional capabilities, and the business, servicing and market trends that are driving adoption and innovation. It features 7 leading and contending vendors who offer IVA solutions that address front- and back-office functions and other enterprise-wide uses: Artificial Solutions, Avaamo, Inference Solutions, Kore.ai, Omilia, Rulai and Verint Systems.

To learn more about the 2020 - 2021 Intelligent Virtual Agent Product and Market Report, read the abstract, which includes the table of contents, or contact Deborah Navarra at deborah.navarra@dmgconsult.com or 516-628-1098. To order your copy of the Report, visit www.dmgconsult.com.

DMG Consulting LLC
6 Crestwood Drive
West Orange, NJ 07052

Contact: Deborah Navarra
516-628-1098
deborah.navarra@dmgconsult.com

About DMG Consulting LLC

DMG Consulting LLC is a vendor-independent advisory and consulting firm specializing in contact centers, back-office and real-time analytics. We are a strategic advisor to end users and vendors, large and small, and the financial community. Our mission is to help our clients build world-class contact center and back-office environments by leveraging technology, process and people. We assist management in optimizing the performance of their contact centers by increasing operational efficiency, providing an outstanding customer experience, enhancing loyalty and increasing sales and profits. We also help vendors develop products and services that deliver differentiated innovation and benefits that meet end users' current and future needs.

DMG Consulting is the leading provider of industry research for many contact center, back-office and analytics IT markets, including: Workforce Optimization (WFO), Workforce Management, Interaction (Speech and Text) Analytics, Desktop Analytics, Robotic Process Automation, Customer Journey Analytics, Performance Management, Knowledge Management, Gamification, Enterprise Feedback Management/ Surveying, Cloud-Based Contact Center Infrastructure, Outbound Solutions, Voice Biometrics, and Intelligent Virtual Agents. For more information, visit www.dmgconsult.com.

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