Interaction recording systems are large scale software only or occasionally integrated software and hardware devices that are used to capture, retrieve, analyze, and report voice and data interactions. The primary application is in commercial contact centers but they may also be used in a 911 emergency call centers, investment trading floors, air traffic control centers, and other environments.
These systems have four primary purposes:
- To help evaluate the quality of interactions between call takers and callers.
- To monitor compliance with regulations and business policies.
- To help protect organizations from unwarranted claims based on telephone communications.
- With the addition of advanced speech and data analytics tools, enterprise management can identify and quantify patterns within large volumes of stored communications
Market Size and Growth
Total global sales to contact centers were approximately $800 million in 2009. This is a mature market growing in the low single digits.
The two dominant market leaders are US-based Verint Systems and Israel-based NICE Systems. These two companies alone account for 70% of global sales. Sixteen other vendors share the remaining 30% of global sales. The fastest-growing of the second tier vendors are CallCopy and VPI.
Key Vendor Trends
- Slowdown in industry consolidation
- Continued move to WFO suite solutions
- Extension into back-office environments
- Rapid adoption of speech and data analytics