Verint has secured a $20MN deal – in total contract value (TCV) - from a prominent entertainment services company in Europe.
The massive win pushed the vendor’s revenues to above $219MN last quarter, representing 11 percent growth year-over-year (YoY).
While Dan Bodner, CEO of Verint, didn't confirm the company's name, he did note that Sky – alongside CarMax and Louis Vuitton – was one of 100 new logos added last quarter.
Moreover, he highlighted that the deal included AI-powered bots, which is unsurprising as nine of Verint’s ten largest bundled SaaS deals in Q3 did so.
Those other deals included a $6MN TCV order from a telecoms company in North America and a $4MN TCV order from a healthcare organization in the US.
Such bundles are a signal of the emerging Verint 4.0. First, it was a call recording company. Next, it became a workforce optimization (WFO) business. Then, it was workforce engagement (WEM).
Now, for this latest evolution, Verint has become the company of openness, data, and AI delivered by bots into workflows.
During a recent earnings call, Bodner reflected on its progress: "Verint is shifting to more bundled SaaS, and our TAM (total addressable market) is growing because we have a much larger AI opportunity in the future."
Indeed, more than 50 percent of Verint’s SaaS bookings included AI-powered bots, a significant increase from the previous year – as per Bodner. He continued:
Our customers are going to save a lot of money. They will increase the technology spend, but the net decrease will be bigger because they will decrease much more the labor spend.
Verint’s approach to bot building does catch the eye – especially since the launch of its specialized bot strategy.
The strategy aims to create a swathe of bots that augment a specific role and only automate a single human function. In doing so, they allow Verin customers to “automate without disruption.”
