WFO/WEM Product and Market Report 2022

July 5, 2022

The “2022-2023 Workforce Optimization/Workforce Engagement Management Product and Market Report” report has been added to ResearchAndMarkets.com’s offering.

Artificial intelligence, automation, analytics, digital transformation, self-service, and a lot more are changing the entire servicing world. The list of innovation that has come to market in the last couple of years is long, but it’s just the beginning of what is expected to be delivered as part of the new AI-enabled WFO/WEM applications.

AI-enabled new-gen WFM is revolutionizing the staffing paradigm
New-gen workforce management (WFM) solutions perform the classic functions of a WFM application; however, the notable and exciting element in new-gen WFM is that employees have direct input and participate in every step of the planning process. Employees can even make changes after a schedule is generated, without penalty.

Workforce management administrators/supervisors also benefit from new-gen WFM, as these solutions greatly reduce the time required to enter agent schedules and changes manually into the system, freeing them to focus their efforts on optimizing departmental performance.

This drives positive impacts on the customer experience (CX) and benefits the culture and performance of the contact center or other departments utilizing the WFM solution, which improves the company’s bottom line.

Artificial intelligence (AI) is an essential enabler of many of the advancements in WFM solutions. AI makes it possible to manage the complexities associated with forecasting and scheduling digital channels – concurrency, asynchronous transactions, lapsed time, cross-channel interactions, etc. It increases the accuracy of forecasts and enables the application to auto-select the optimal algorithm for each situation. AI is used for real-time adaptive scheduling, which improves accuracy, flexibility and fairness. It also facilitates the handling of vacation planning, paid time off (PTO), voluntary time off (VTO), overtime (OT), shrinkage projections, and much more. In the future, DMG expects to see predictive analytics used to align WFM recommendations and schedules with contact centers’ core routing and queuing engines to improve the customer and agent experience while increasing productivity and reducing costs.

The Report Includes:

Overview of the functional components that comprise a WFM solution, including core and optional modules offered in the 5 featured WFM suites, and high-level functional capabilities
Market, business, and technology trends and challenges that are driving enterprise investments and influencing product development
WFM market innovation, including a review of recently introduced features and functionality and what is planned for the next 12 -18 months
Exploration of the methodologies and applications of new-gen WFM and why it is a requirement to support the transformational changes needed in contact centers now and in the future
In-depth analysis of WFM modules that improve agent engagement and empowerment, including self-service and vacation/time-off management, eLearning/meeting management and performance reports
How AI is going to alter and improve contact center technology and operations during the next 5 – 20 years
Examination of WFM capabilities for back offices and branches and opportunities for applying WFM across the enterprise
WFM market activity analysis, adoption rates, and 5-year market growth projections
Review and assessment of the WFM competitive landscape
Vendor pricing for 250-seat on-premise and cloud-based voice and digital channel WFM implementations, for core forecasting and scheduling plus incremental costs (if applicable) for intraday management, real-time adherence, agent self-service, vacation/time-off management, eLearning/meeting management, long-term strategic planning, hiring management, workspace allocation, gamification, mobility, back-office and branch WFM

Key Topics Covered:

1. Executive Summary

2. Introduction

3. DMG Consulting Research Methodology
3.1 Report Participation Criteria

4. Workforce Management Suites Defined
4.1 Workforce Management Vendor Suite Overview
4.2 High-Level Functional Overview

5. Workforce Management Trends and Challenges
5.1 Workforce Management Trends
5.2 Workforce Management Challenges

6. Workforce Management Market Innovation
6.1 New Product Features
6.2 Future Enhancements

7. New-Gen WFM
7.1 Omni-Channel Requirements
7.2 Omni-Channel Forecasting and Scheduling
7.3 Real-Time Intraday Management and Intelligent Adaptive Scheduling
7.4 Real-Time Adherence
7.5 Shrinkage
7.6 Long-Term Planning
7.7 The Work-at-Home/Hybrid Staffing Model
7.8 Workspace Allocation
7.9 Hiring Management

8. The Agent Experience
8.1 Agent Self-Service
8.2 Gamification
8.3 eLearning/Meeting Management
8.4 Dashboards, Reporting and KPIs

9. AI: The “Brains” of the Operation

10. WFM for the Enterprise: Back-Office, Branch, and Beyond
10.1 Back-Office/Branch WFM
10.2 Leveraging WFM Across the Enterprise

11. Workforce Management Market Activity Analysis
11.1 Validating Market Numbers
11.2 WFM Market Share Analysis

12. WFM Adoption Rate

13. WFM Market Projections

14. WFM Competitive Landscape
14.1 Company Snapshot

15. Workforce Management Vendor Satisfaction Analysis

16. Pricing
16.1 Pricing for a 250-Seat Premise-Based WFM Solution
16.2 Pricing for a 250-Seat Cloud-Based WFM Solution