Information Technology Frost Radar™: Workforce Optimization Solutions, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines


RELEASE DATE
04-Sep-2023
REGION
Global
DELIVERABLE TYPE
Frost Radar

RESEARCH CODE
PE93-01-00-00-00
SKU
IT_2023_121
Yes
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Frost Radar™: Workforce Optimization Solutions, 2023
Published on: 04-Sep-2023 | SKU: IT_2023_121

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Workforce optimization (WFO) drives performance, agent engagement, and an improved customer experience (CX) in the contact center industry.

Frost & Sullivan defines WFO as a strategy to integrate disparate contact center workforce applications, monitor and analyze customer and agent interactions, and automate processes to optimize contact center resources. Contact centers use the resulting data to improve operational efficiency and performance, and agent and customer engagement, resulting in improved CX and employee experience.

Inclusive to WFO are complementary functions under the umbrella of workforce engagement management (WEM) that focus on recruitment, onboarding, evaluating, training, coaching, and motivating the workforce. Contact center solution providers and customers have come to understand that employee engagement and customer engagement are interdependent and equal in importance. As such, WEM applications are a critical component in WFO strategies.

WFO solutions allow agents to engage more efficiently with customers and supervisors to more effectively manage the contact center by automating processes that had been time-consuming, inflexible, and error-prone when performed manually. Examples include monitoring and analyzing calls, scheduling and forecasting, and finding and retrieving information from knowledge bases.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Workforce Optimization Solutions 2023

  • Workforce Optimization Solutions

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
Speak directly with our analytics experts for tailored recommendations.

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Purchase includes:
  • Report download
  • Growth Dialog™ with our experts

Growth Dialog™

A tailored session with you where we identify the:
  • Strategic Imperatives
  • Growth Opportunities
  • Best Practices
  • Companies to Action

Impacting your company's future growth potential.

Workforce optimization (WFO) drives performance, agent engagement, and an improved customer experience (CX) in the contact center industry. Frost & Sullivan defines WFO as a strategy to integrate disparate contact center workforce applications, monitor and analyze customer and agent interactions, and automate processes to optimize contact center resources. Contact centers use the resulting data to improve operational efficiency and performance, and agent and customer engagement, resulting in improved CX and employee experience. Inclusive to WFO are complementary functions under the umbrella of workforce engagement management (WEM) that focus on recruitment, onboarding, evaluating, training, coaching, and motivating the workforce. Contact center solution providers and customers have come to understand that employee engagement and customer engagement are interdependent and equal in importance. As such, WEM applications are a critical component in WFO strategies. WFO solutions allow agents to engage more efficiently with customers and supervisors to more effectively manage the contact center by automating processes that had been time-consuming, inflexible, and error-prone when performed manually. Examples include monitoring and analyzing calls, scheduling and forecasting, and finding and retrieving information from knowledge bases. The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
More Information
Deliverable Type Frost Radar
Author Ankita Singh
Industries Information Technology
No Index No
Is Prebook No
Keyword 1 Workforce Analytics And Insights
Keyword 2 Workplace Efficiency Insights
Keyword 3 Workforce Productivity Innovations
Podcast No
WIP Number PE93-01-00-00-00

Frost Radar™: Workforce Optimization Solutions, 2023

$4,950.00

Special Price $3,712.50 save 25 %

In stock
SKU
IT_2023_121