Boardroom
Verint Systems


In The Boardroom With...

Mr. Steve Foley
Senior Vice President and General Manager Americas
www.verint.com
Other OTC:VRNT.PK


SecurityStockWatch.com: Thank you for joining us today, Steve. Please give us an overview of your background and a brief company history of Verint Systems.

Steve Foley:  From 1985 to 2008, I was in the enterprise software space leading software and support teams selling to Fortune 1000 organizations, public sector and Federal Government.  Prior to Verint, I was the VP of Global Accounts and Public Sector at Cognos (now an IBM company).  Prior to Cognos, I was the CEO of Clareos, a commodity computing business intelligence company. At Verint, Headquartered in Melville , New York , I am the Sr. VP and General Manager for Verint Americas .  Verint Systems Inc. is a leading provider of actionable intelligence solutions for an optimized enterprise and a safer world. Ranked as a top 30 enterprise software company in the United States and a top 100 software and service provider across the globe, Verint has achieved outstanding financial strength and stability, and a client base that includes over 70% of the Fortune 100. Verint is powered by over 2500 dedicated professionals in offices around the globe and partners with leading technology and business solution providers to deliver unparalleled solutions and uncompromising support.

SecurityStockWatch.com: We understand that more than 10,000 organizations in over 150 countries rely on Verint solutions to perform more effectively, build competitive advantage and enhance the security of people, facilities and infrastructure. What are your target markets and what is your perspective on the market drivers for Verint solutions at this time?

Steve Foley: Verint’s comprehensive networked video portfolio addresses the needs of a wide range of industries, from banking and critical infrastructure to retail and transportation organizations. We provide fully integrated solutions including: video management software, video analytics, encoders, decoders, wireless encoders, networked DVRs, storage devices, servers and cameras for fixed or mobile solutions.  Our networked video solutions facilitate migration to IP video and are designed for operations of virtually any size and any mix of IP and analog equipment.

Our growing list of clients speak for itself – Verint continues to be the provider of choice for 57 airports, 43 seaports, 2 of the world’s 5 largest retailers, 149 government agencies and cities world-wide, and hundreds of mass transit and banking facilities.  There is a growing trend toward the conversion of physical and IT security integration and interoperability and it is emerging as one of the biggest driving forces for the video surveillance market across the globe.  Because of this demand, we continue to see growth in all most of the verticals we market to.  A large amount of government and critical infrastructure organizations are continuing to build their infrastructure with industry leading solutions.

SecurityStockWatch.com:  Please give us a product line overview. Any new products and solutions on the horizon?

Steve Foley: The Nextiva portfolio features a broad array of solutions for video recording and analysis. Nextiva wireless devices, encoders, decoders, and IP cameras, and embedded DVRs capture images from virtually any stationary, mobile, indoor, or outdoor location. Nextiva’s advanced video analytics rapidly detect events in vast amounts of video and enterprise data. And Nextiva’s robust video management software, intelligent video distribution, and system-wide monitoring and diagnostics simplify management of large, geographically-distributed operations. 

Over the last few months, we announced recent enhancements to our Nextiva wireless portfolio.  Our Nextiva wireless devices now more than double previous throughput and reduce equipment requirements by allowing multiple transmitters to be connected to a single access point.  Moving onto our camera portfolio, we partnered with Vicon Industries Inc. to integrate their SurveyorVFT camera with Verint’s Nextiva IP video platform, launching a new IP camera called the Nextiva S2800e. The Nextiva S2800e combines industry-leading Verint encoding technology with the feature-rich Vicon SurveyorVFT camera dome to deliver a high-performance IP PTZ camera with superior imagery, lower network bandwidth utilization, and full integration with the Nextiva video management portfolio.

Addressing the DVR market, Verint announced the expansion of our Nextiva MicroDVR II into the mid-market vertical.  The Nextiva MicroDVR II solution is a compact Digital Video Recorder (DVR) designed for use in a variety of point-of-sale, ATM and discreet video surveillance applications.  And last but not least, we will be launching our Nextiva 6.0 platform and introducing a new enterprise-class network video recorder called the EdgeVR.  The Nextiva EdgeVR is designed to extend recording, processing and powerful analytics capabilities to virtually any location on the network’s edge.  We are very excited about the products we have to offer and the promise of even more innovation in 2009.

SecurityStockWatch.com:  The Caribbean and Latin American (CALA) region seems to be poised for rapid growth. Care to elaborate?

Steve Foley: Over the last year, we have seen a lot of activity out of Central America Latin America and will continue to focus efforts there as well as maintain our strong leadership in regions around the globe.  The majority of the business is coming from government agencies and city-wide surveillance initiatives.  We also have large installs in mines, gas and oil plants and have introduced our branch banking, retail and mobile technologies to this growing market.

SecurityStockWatch.com:  Congratulations on the win with Best Buy which is using the Nextiva® Retail Traffic Analysis solution as part of a program designed to help analyze and optimize customer experiences associated with product placement and promotions. Please tell us more tell us more about this “win”?

Steve Foley: Already a Verint customer with over 60 percent of its retail stores being monitored with Verint equipment, Best Buy deployed Verint’s retail traffic product on a 45 camera platform in one of its 45,000 square foot retail stores to evaluate the value-added solution. Designed to leverage existing video surveillance applications, Nextiva Retail Traffic Analysis provides real-time information regarding customer count, traffic patterns, dwell-times and broad information regarding customers’ in-store shopping behaviors.  The analytics system has showed Best Buy the details they needed to make smart business decisions around their products and real estate.  For instance, they were able to identify that customers were spending a substantial amount of time in front if a display with two flat-screen televisions, one from a non-national brand with a lower price point and one from a national brand with a premium price point. The problem was the display was receiving a lot of face time with customers, but neither item was moving off the shelves.  From this detail, they could devise a plan to change out product, lower prices and ultimately generate more revenue for the store.

SecurityStockWatch.com:  How about the financial vertical? Are there any success stories in this space you’d like to mention?

Steve Foley: Verint offers a comprehensive video security suite designed specifically for financial institutions with the industry’s most effective video interfaces to bank and security system data. Built on over 60,000 installations worldwide, Verint’s Nextiva Financial can provide the security and business intelligence that banks need.  Nextiva Financial offers a single source for virtually every facet of bank video surveillance operations: from IP cameras, encoders, and wireless transmitters to high-performance, embedded DVRs and enterprise video viewing and management software.  With a growing list of financial customers, Verint is well positioned to help secure some of the world’s largest banking operations.  Of the top 30 banks in the Americas , we own 60% market share on the retail banking side and many of these banks are procuring our solutions to cover their facilities and cash rooms.  

SecurityStockWatch.com:  Let’s turn to the Public Safety market for a moment. We understand that Verint’s public safety solutions assist EMS facilities, 9-1-1 centers, homeland security agencies, transportation networks, correction facilities, and other PSAPs perform more effectively and comply with government and industry mandates on call handling evaluation. Please give us an overview of Verint solutions in this mission critical market.

Steve Foley: As a DHS Safety Act certified vendor, Verint is committed to providing this nation with reliable video surveillance solutions that protect the physical systems and facilities that are an integral part to the well-being of our nation. Verint’s video solutions are not the only product in the market attracting the attention of the public safety market.  Verint’s award-winning contact center solutions enhance the quality of customer-focused operations, with innovative products built by the leaders in contact center performance and analytic technology, plus world-class delivery, service, and support. Verint’s Audiolog can capture interactions and data from PBX, ACD, predictive dialer, and CTI systems. Remote live monitoring and playback let supervisors and managers keep track of contact center activity right from their desktop PCs. Customizable evaluation forms, powerful interactive assessment tools, and synchronized audio and screens help increase supervisor productivity and enhance agent performance.

SecurityStockWatch.comWithout divulging any confidential information, of course, can you give us a thumbnail of one or two Verint success stories here?

Steve Foley: We are often challenged with providing named customers who are using our video solutions because they view our solutions as proprietary to their over all security enforcement.   We have numerous airports and seaports around the world, including Charles de Gaulle Airport.  Our recent success span across the continents from securing the China Ministry of Railways for the 2008 Summer Olympics and providing campus surveillance for the University of Leeds in the United Kingdom , to city-wide surveillance of Rio de Janeiro and retail traffic analytics at Best Buy stores throughout the United States .

SecurityStockWatch.com: Steve, are there any other “wins” or success stories you’d like to talk about?

Steve Foley:  We are now seeing IT as part of the decision process with large video management deployments.  This is important for Verint because we have built our platform with the software that resides on servers and in data centers, through established networks, and then out to the edge devices that handle video.  We provide IT operations with a complete end-to-end solution for one company to call - eliminating the hassle with tracking down multiple vendors to solve a single problem.  Many security decisions are made completely opposite of how IT buys.  They may first select the camera and then consider the network reliability, encoding and then finally the software platform. IT departments typically make purchase decisions based on the enterprise software solution and ultimately edge components that fit in with their enterprise data center.

SecurityStockWatch.com: Any other strategic relationships you care to mention?

Steve Foley: Verint’s strong business partner ecosystem continues to expand and is comprised of leading organizations around the world. These respected companies are dedicated to providing complementary products and services to Verint’s customers. Companies like EMC, Dell, Intel, ADT, Diebold and JVC are just a few of the partners dedicated to delivering and implementing solutions that combine best-in-class applications, services and hardware that further enhance our own portfolio.

SecurityStockWatch.com: What resources are available for end-users at www.Verint.com?

Steve Foley: Visitors to the website can obtain valuable product information.  We have a resource library that contains detailed brochures and data sheets on our expansive product portfolio.  We also share many of our customer success stories and press releases for the public to review and gain a better perspective on our footprint.  If visitors are interested in a more in-depth review of our portfolio, they can easily watch a product demo or a recorded webinar.  We are also contributing more articles to leading industry publications, such as SecurityStockWatch.com, and those interviews and articles can be found on our “In the News” section of the Verint website.  We also have our partner portal where partners can obtain detailed information including our feature, benefit and advantage data, product specifications, and tips on installing or supporting our product line.  In the near future, we are planning on building a security community for users to come and interact with other peers in the industry, share ideas, learn more about industry trends and get detailed information on Verint’s products.