Virtual Hold Technology Award Write Up

2017 North American
Contact Center Software
New Product Innovation Award

BEST PRACTICES RESEARCH
© Frost & Sullivan 2017 2 “We Accelerate Growth”
Contents
Background and Company Performance ........................................................................3
Industry Challenges in an Omnichannel World .........................................................3
Company Performance in the Market ......................................................................4
New Product Attributes and Customer Impact..........................................................4
Conclusion...........................................................................................................8
Significance of New Product Innovation.........................................................................9
Understanding New Product Innovation.........................................................................9
Key Benchmarking Criteria ..................................................................................10
Best Practices Award Analysis for VHT ........................................................................10
Decision Support Scorecard .................................................................................10
New Product Attributes .......................................................................................11
Customer Impact ...............................................................................................11
Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best
Practices .................................................................................................................12
The Intersection between 360-Degree Research and Best Practices Awards.....................13
Research Methodology ........................................................................................13
About Frost & Sullivan ..............................................................................................13

Background and Company Performance
Industry Challenges in an Omnichannel World
Sales and support agents in contact centers today are utilizing a much wider arsenal of
communication tools - voice, video, email, IVR, web chat, file sharing, and social media.
Frost & Sullivan believes that traditional voice-centric call centers are rapidly morphing
into “Omnichannel Centers of Excellence” and “Relationship Hubs”.1
Our research shows
that the new Omnichannel consumer wants to have access to all available channels
simultaneously, including the retail in-store/in-person experience.
Frost & Sullivan’s Digital Transformation - Customer Care team defines “Omnichannel” this
way:
“Omnichannel is ensuring a consistent and seamless high quality customer experience
regardless of how and where a customer chooses to interact with an organization, and no
matter the purpose. It ensures that data and context from the initial contact carries over
to subsequent channels, reducing customer effort, improving the customer interaction,
and enabling the business to tailor the customer journey.”
Indeed, the major challenge in the industry is figuring out how to provide consistent and
seamless service across channels. In a largely multichannel world, contact centers continue
to struggle with minimizing customer effort and maintaining high customer satisfaction
scores. Still, these questions remain:
How can companies, in a very competitive customer experience environment, help
the consumer to use the right channel for the best experience, while simultaneously
reducing customer effort?
We’re all aware that customers randomly struggle to get great service. Are there
ways, via intuitive rules-based software, to proactively engage and “navigate” the
customer journey to the best channels; enhancing the customer experience and
achieving positive outcomes?
How do you determine the context, rules, and the actions that help to guide the
customer journey in ways that the customer finds helpful?
Is it finally possible for Customer Interaction Management (CIM) systems to display
critical information that is known about the caller’s actions, in advance; giving an
expert agent the ability to eliminate caller frustration, form personal connections,
and vastly improve customer satisfaction?
Truth be told, multi-channel solutions simply can’t deliver desired customer outcomes.
Companies must instead connect every channel for the purpose of one customer journey. It
is Frost & Sullivan’s opinion that this will require an Omnichannel approach. We have noted

that, “Organizations still operate customer touchpoints as silos, hampering the promise of
true Omnichannel experiences.”2
Company Performance in the Market
Virtual Hold Technology (VHT) has been the innovator in enhancing the customer journey
for Fortune 1000 companies. This includes industry verticals like telecommunications,
financial services, energy, insurance, cable, utilities, wireless and retail. Since its inception
in 1995, Virtual Hold Technology (VHT) has been the innovator in enhancing the customer
journey; helping companies to eliminate customer wait times. The company also creates a
positive impression for major brands by improving customer interactions, operational
efficiencies and revenue opportunities.
VHT is being recognized for its innovative contact center software suite, VHT Navigator™.
Consumer buying habits are changing rapidly, and customer care providers must continually
re-examine operational processes and resource allocations. This movement into new realms
of specialized expertise signals opportunities for technology investments that have
translated into enhanced value proposition for clients and consumers alike.
VHT Navigator has been designed, from the ground up, as a scalable customer
engagement solution. It captures and analyzes customer-specific activity; guiding effortless
customer interactions and desired outcomes for companies and their customers.
New Product Attributes and Customer Impact
Criterion 1: Match to Needs
Navigating the Customer Journey
Customer care executives, industry experts, and market analysts agree that when it comes
to service, consumers today desperately need navigation assistance. Otherwise, they jump
from channel to channel in search of the one(s) that addresses their issue most quickly. In
order to avoid this frustration and wasted time, VHT Navigator proactively engages with
customers to do just that - navigate complex journeys. Not only does it save the customer
time and energy, it ensures that their needs are recognized and increases positive brand
perceptions. Most importantly, VHT Navigator improves the likelihood that the customer will
be converted into a true Brand Promoter.
Criterion 2: Quality
Addressing Disconnected Experiences
VHT’s CEO Wes Hayden contends, “With context and visibility into customer intent,
organizations can focus on providing timely, relevant, and proactive customer experiences,
easing the path toward positive outcomes.” In this way, the solution addresses disconnected

or fractured customer experiences and better manages customer engagement and
outcomes.
How it Works - Empowered with Context-Driven Data
CAPTURE. Context Data Capture gathers structured and unstructured data using
Navigator’s flexible, open interface. Information is gathered and stored as unstructured
events rather than structured records, providing real-time access.
ANALYZE. Business Rules and Data Configuration Management provides centralized
management and configuration of rules.
NAVIGATE. Business Functions define the types of actions Navigator performs when
communicating with external systems to gather or send customer-specific information.
Exhibit 1.0 below illustrates these three stages from context capture, to analysis and
navigation.
Exhibit 1.0
Source: VHT and Frost & Sullivan analysis
Criterion 3 Positioning
No “Rip and Replace” of Existing Channel Solutions
VHT Navigator is an easy-to-integrate customer engagement solution that can be
deployed across channels as an overlay for current systems. There is no need to “rip and
replace” existing infrastructure investments and applications. The solution complements,
informs, and updates any routing, CTI, IVR, CRM, or external resource; thereby, providing a
360-degree view of the customer. Frost & Sullivan believes that VHT Navigator offers a

tremendous opportunity to help contact centers, globally, move from a cost-focus to a
value-add focus. This signals a huge paradigm shift – from merely satisfying consumers to
creating loyal, delighted brand advocates. The goal is to get organizations to make
customer service and contact centers more strategic to the enterprise’s core business.
After all, understanding the customer experience means having a firm grasp on customer
interaction history, context, demographics, and trends.
Criterion 4 Design
VHT Navigator can be deployed independently or in combination with the following VHT-
branded contact center solutions:
VHT Callback™ Calculates and quotes the expected wait time and gives callers the
option to receive a callback when it’s their turn or to schedule a callback for a more
convenient time.
VHT Conversation Bridge™ Provides customers with the ability to request a
callback seamlessly through non-voice channels such as web or mobile.
VHT Agent Assist™ Provides agents engaged with callers who require a transfer the
ability to check wait times in available queues and schedule callbacks that are
convenient for customers.
VHT Notification Suite™ Delivers a near real-time feed of events of the status of
VHT Callbacks. CRM systems are updated, custom calling lists are built, and timely
notifications are sent to callers via email or text.
Competitive Differentiation
Frost & Sullivan has had this to say about the solution. “VHT Navigator’s ability to tie
multichannel, multivendor silos together and empower business users taps into a new and
largely unaddressed area.”2
VHT Navigator’s event-driven architecture captures and
analyzes historical and real-time interaction details between customer and organization,
that span across time and one or more channel silos and systems. This is a competitive
differentiator since this is data not normally captured and known. This could include:
• Customer paths taken (web, voice, email, social)
• Interaction frequency
• Information sent
• Customer activities performed

Criterion 5 Customer Service Experience
Customer Engagement Solution
VHT’s vision for future is, “Providing a much better overall customer experience from the
use of capturing available information for customer service before they start the
conversation with you”. VHT Navigator’s customer service benefits include the following:
• Provides a consistent, positive experience across channels, leading to increased
satisfaction and brand perception
• Decreases customer effort and frustration
• Drives personalized connections with customers in real-time
• Identifies potential for customer churn and eliminates it
• Increases customer identification across voice and digital channels
• Enhances customer segmentation
• Analyzes activity and identifies opportunities for the next right action
• Brings all channels and systems together through basic web services integration
Personalization
Finally, VHT Navigator establishes the relationship between events and the progress
toward outcomes, tracking the customer’s experience in standard and customizable
reports and dashboards. The addition of customizable dashboards enables organizations to
further tailor VHT Navigator to their customer and better trigger next right actions.
Criterion 6 Brand Equity
New Partnerships in Omnichannel Expertise
On March 7, 2017 VHT announced that it had partnered with Voxai Solutions, a leading
contact center consulting and managed services provider, to bring Omnichannel expertise
and callback options to contact centers across hospitality, energy, government, and finance
industries.
“Today’s consumers channel hop to interact with brands but want seamless transitions.
Making a connection appear seamless, however, depends on the right technology,” said Wes
Hayden, CEO of VHT. “Our partnership with Voxai gives more businesses the opportunity to
make those connections possible. VHT solutions provide a robust package that tracks

customers as they move across channels, offers callback from anywhere, and provides
representatives the context behind a customer’s journey.”
To support Omnichannel customer journeys, the partnership helps customers request a
callback from the voice, online/web, mobile/SMS or other channels, such as cable or gaming
systems.
In addition, VHT has partnered with MicroAutomation to offer its suite of contact center
callback solutions to federal and state government buyers through the U.S. General
Services Administration (GSA) IT Schedule 70. Through this partnership, government
agencies can better enhance the consumer experience with the internal and external
customers they serve and leverage state of the art technology systems to improve service
and support delivered via the phone, web, or other channels.
Conclusion
The principal challenge in the customer care industry revolves around the need for flexibility
and speed in implementing customized Omnichannel solutions for clients. VHT Navigator
builds navigated customer journeys and makes meaningful connections through a
differentiated, Omnichannel approach. VHT Navigator tackles the thorny problem of
disconnected customer experiences and successfully manages customer engagement and
outcomes.
Given its strong overall market performance and innovation solution, Virtual Hold
Technology (VHT) has earned Frost & Sullivan’s 2017 New Product Innovation Award in
the Contact Center Software market.
Source Addendum:
Bruce Tempkin, Oct. 17, 2013 “Contact Centers Must Morph into Relationship Hubs”.
http://www.cmswire.com/cms/customer-experience/contact-centers-must-morph-into-
relationship-hubs-022843.php
1. Nancy Jamison, Principal Analyst, Frost & Sullivan, November 2015
2. Nancy Jamison, Principal Analyst, Frost & Sullivan, November 2015

Significance of New Product Innovation
Ultimately, growth in any organization depends upon continually introducing new products
to the market and successfully commercializing those products. For these dual goals to
occur, a company must be best-in-class in three key areas: understanding demand,
nurturing the brand, and differentiating from the competition.
Understanding New Product Innovation
Innovation is about finding a productive outlet for creativity—for consistently translating
ideas into high-quality products that have a profound impact on the customer.

Key Benchmarking Criteria
For the New Product Innovation Award, Frost & Sullivan analysts independently evaluated
two key factors—New Product Attributes and Customer Impact—according to the criteria
identified below.
New Product Attributes
Criterion 2: Reliability
Criterion 4: Positioning
Criterion 5: Design
Customer Impact
Criterion 1: Price/Performance Value
Criterion 2: Customer Purchase Experience
Criterion 3: Customer Ownership Experience
Criterion 4: Customer Service Experience
Criterion 5: Brand Equity
Best Practices Award Analysis for VHT
Decision Support Scorecard
To support its evaluation of best practices across multiple business performance
categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool
allows our research and consulting teams to objectively analyze performance, according to
the key benchmarking criteria listed in the previous section, and to assign ratings on that
basis. The tool follows a 10-point scale that allows for nuances in performance evaluation.
Ratings guidelines are illustrated below.
RATINGS GUIDELINES
The Decision Support Scorecard is organized by New Product Attributes and Customer
Impact (i.e., These are the overarching categories for all 10 benchmarking criteria; the
definitions for each criterion are provided beneath the scorecard.). The research team
confirms the veracity of this weighted scorecard through sensitivity analysis, which
confirms that small changes to the ratings for a specific criterion do not lead to a
significant change in the overall relative rankings of the companies.

The results of this analysis are shown below. To remain unbiased and to protect the
interests of all organizations reviewed, we have chosen to refer to the other key
participants as Competitor 2 and Competitor 3.
Measurement of 1–10 (1 = poor; 10 = excellent)
New Product Innovation
New Product
Attributes
Customer
Impact
Average
Rating
VHT 8.5 8.5 8.5
Competitor 2 7 7 7
Competitor 3 7 7 7
New Product Attributes
Requirement: Customer needs directly influence and inspire the product’s design and
positioning.
Criterion 2: Reliability
Requirement: The product consistently meets or exceeds customer expectations for
consistent performance during its entire life cycle.
Requirement: Product offers best-in-class quality, with a full complement of features and
functionalities.
Criterion 4: Positioning
Requirement: The product serves a unique, unmet need that competitors cannot easily
replicate.
Criterion 5: Design
Requirement: The product features an innovative design, enhancing both visual appeal
and ease of use.
Customer Impact
Criterion 1: Price/Performance Value
Requirement: Products or services offer the best value for the price, compared to similar
offerings in the market.
Criterion 2: Customer Purchase Experience
Requirement: Customers feel they are buying the most optimal solution that addresses
both their unique needs and their unique constraints.
Criterion 3: Customer Ownership Experience
Requirement: Customers are proud to own the company’s product or service and have a
positive experience throughout the life of the product or service.

Criterion 4: Customer Service Experience
Requirement: Customer service is accessible, fast, stress-free, and of high quality.
Criterion 5: Brand Equity
Requirement: Customers have a positive view of the brand and exhibit high brand loyalty.
Best Practices Recognition: 10 Steps to Researching,
Identifying, and Recognizing Best Practices
Frost & Sullivan analysts follow a 10-step process to evaluate Award candidates and
assess their fit with select best practice criteria. The reputation and integrity of the
Awards are based on close adherence to this process.
STEP OBJECTIVE KEY ACTIVITIES OUTPUT
1
Monitor,
target, and
screen
Identify Award recipient
candidates from around the
globe
• Conduct in-depth industry
research
• Identify emerging sectors
• Scan multiple geographies
Pipeline of candidates who
potentially meet all best-
practice criteria
2
Perform
360-degree
research
Perform comprehensive,
360-degree research on all
candidates in the pipeline
• Interview thought leaders
and industry practitioners
• Assess candidates’ fit with
best-practice criteria
• Rank all candidates
Matrix positioning of all
candidates’ performance
relative to one another
3
Invite
thought
leadership in
best
practices
Perform in-depth
examination of all candidates
• Confirm best-practice criteria
• Examine eligibility of all
candidates
• Identify any information gaps
Detailed profiles of all
ranked candidates
4
Initiate
research
director
review
Conduct an unbiased
evaluation of all candidate
profiles
• Brainstorm ranking options
• Invite multiple perspectives
on candidates’ performance
• Update candidate profiles
Final prioritization of all
eligible candidates and
companion best-practice
positioning paper
5
Assemble
panel of
industry
experts
Present findings to an expert
panel of industry thought
leaders
• Share findings
• Strengthen cases for
candidate eligibility
• Prioritize candidates
Refined list of prioritized
Award candidates
6
Conduct
global
industry
review
Build consensus on Award
candidates’ eligibility
• Hold global team meeting to
review all candidates
• Pressure-test fit with criteria
• Confirm inclusion of all
eligible candidates
Final list of eligible Award
candidates, representing
success stories worldwide
7
Perform
quality check
Develop official Award
consideration materials
• Perform final performance
benchmarking activities
• Write nominations
• Perform quality review
High-quality, accurate, and
creative presentation of
nominees’ successes
8
Reconnect
with panel of
industry
experts
Finalize the selection of the
best-practice Award recipient
• Review analysis with panel
• Build consensus
• Select recipient
Decision on which company
performs best against all
best-practice criteria

STEP OBJECTIVE KEY ACTIVITIES OUTPUT
9
Communicate
recognition
Inform Award recipient of
Award recognition
• Present Award to the CEO
• Inspire the organization for
continued success
• Celebrate the recipient’s
performance
Announcement of Award
and plan for how recipient
can use the Award to
enhance the brand
10
Take
strategic
action
Upon licensing, company is
able to share Award news
with stakeholders and
customers
• Coordinate media outreach
• Design a marketing plan
• Assess Award’s role in future
strategic planning
Widespread awareness of
recipient’s Award status
among investors, media
personnel, and employees
The Intersection between 360-Degree Research and Best
Practices Awards
Research Methodology
Frost & Sullivan’s 360-degree research
methodology represents the analytical
rigor of our research process. It offers a
360-degree-view of industry challenges,
trends, and issues by integrating all 7 of
Frost & Sullivan's research methodologies.
Too often companies make important
growth decisions based on a narrow
understanding of their environment,
leading to errors of both omission and
commission. Successful growth strategies
are founded on a thorough understanding
of market, technical, economic, financial,
customer, best practices, and demographic
analyses. The integration of these research
disciplines into the 360-degree research
methodology provides an evaluation
platform for benchmarking industry
participants and for identifying those performing at best-in-class levels.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth
and achieve best-in-class positions in growth, innovation and leadership. The company's
Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined
research and best practice models to drive the generation, evaluation, and implementation
of powerful growth strategies. Frost & Sullivan leverages more than 50 years of
experience in partnering with Global 1000 companies, emerging businesses, and the
investment community from 45 offices on six continents. To join our Growth Partnership,
please visit http://www.frost.com.
360-DEGREE RESEARCH: SEEING ORDER IN
THE CHAOS

Virtual Hold Technology Award Write Up

Recommended

Recommended

More Related Content

What's hot

What's hot (16)

Similar to Virtual Hold Technology Award Write Up

Similar to Virtual Hold Technology Award Write Up (20)

More from Claudia Toscano

More from Claudia Toscano (20)

Recently uploaded

Recently uploaded (20)

Virtual Hold Technology Award Write Up