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 9-1-1 emergency call centers, investment trading floors, air traffic control centers, and other environments.
These systems have four primary purposes:
- When paired with quality management software, to help evaluate the quality of interactions between call takers and callers.
- To monitor compliance with laws, regulations, and industry standards.
- 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 $1,144 million in 2015 This is a mature market growing in the mid-single digits.
The two dominant market leaders are US-based Verint Systems and Israel-based NICE Systems. These two companies alone account for 80% of global sales. Sixteen other vendors share the remaining 20% of global sales. The fastest-growing of the second tier vendors are Calabrio and ZOOM International.
Key Vendor Trends
- Capture and analysis of non-voice communications
- Continued move to WFO suite solutions
- More acquisition options
- Rapid adoption of speech and data analytics
- Compliance with DSS-PCI standards
- Bundled solutions to include QM, speech, and/or VoC.