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Nexidia Receives Frost & Sullivan's 2010 Award for New Product Innovation

Leading Analyst Firm Validates Technological Innovation and Customer Value of Company's Speech Analytics Solution

ATLANTA, GA - May 17, 2010 -Nexidia, the market-leading provider of audio search and speech analytics solutions, today announced that industry research and consulting firm Frost & Sullivan named it as the recipient of the 2010 North America New Product Innovation Award in the Speech Analytics category. Frost & Sullivan evaluated the company’s Enterprise Speech Intelligence (ESI) speech analytics solution and its supporting components.

The Frost & Sullivan Award for New Product Innovation is presented annually to the company that surpasses the competition based on the following criteria: (1) Innovative Element of the Product; (2) Leverage of Leading Edge Technologies; (3) Value-Added Features/Benefits; (4) Increased Customer Value; and, (5) Customer Acquisition/Penetration Potential. To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan’s analytical decision-making matrix compares companies’ performance relative to each other with an integration of quantitative and qualitative metrics.

In the report, Frost & Sullivan scored Nexidia higher than its competition in all five of these critical areas. Some excerpts from the report include:

  • Innovative Element of the Product: Nexidia’s flagship ESI speech analytics solution and supporting components leverage the company’s unique patented phonetic indexing and search technology to offer a comprehensive range of tools for analyzing data from contact center interactions and for improving contact center agent performance. Frost specifically noted the first call resolution (FCR) analysis feature which allows contact center operators to sift through call recordings and seamlessly determine the percentage of customer issues that have been resolved on the first customer-agent interaction.
  • Leverage of Leading Edge Technologies: Nexidia’s ESI solution is built with the company’s patented phonetic audio search technology, which provides a faster, more accurate and more cost-effective approach to analyzing audio than the traditional speech-to-text methods.
  • Value Added Features/Benefits: Nexidia has leveraged the core technology of ESI to build additional components into it, including ESI-Quality, ESI-Capture, ESI-Monitor, and Agent Assist, which all provide immense value to contact center operators. Of all these, Frost deemed Agent Assist - a feature that perpetually monitors agent-customer interactions in real time to identify caller issues and provide agents help for their rapid resolution - to be the most innovative feature of Nexidia’s ESI product.
  • Customer Acquisition/Penetration Potential: The customer acquisition and market penetration potential of Nexidia’s ESI and its components are immense. The company has already gathered a number of customers including EarthLink, Ventura, Plaza Associates, and BlueCross BlueShield of Tennessee, among others. Frost & Sullivan expects many other organizations to adopt Nexidia’s innovative ESI product in the near future.

“For these awards, we focused on how end-user companies are gathering intelligence from unstructured voice data to improve customer satisfaction levels,” said Keith Dawson, principal analyst in Frost & Sullivan’s North America contact center practice. “Nexidia continues to lead innovation in the area of speech analytics. The company has successfully launched new modules on top of its core ESI product, and now offers customers the ability to pick and choose functionality according to their own specific needs. Nexidia’s clients have signed on with a vendor that is proving to be an integral partner to companies serious about accelerating customer service through speech analytics.”

“At Nexidia, we’ve built our reputation on driving innovation and developing new products to meet market demand,” said John Willcutts, president and chief executive officer of Nexidia. “This recognition by Frost & Sullivan reinforces that customers respond to technology that solves real business problems, translates into return on investment, and that keeps pace with their evolving needs.”

For more information about this award, click here.

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 almost 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com/.

About Nexidia
Nexidia is the audio and video search company with patented technologies and breakthrough applications that enable customers to quickly gain new insight, build competitive advantage and realize the amazing possibilities now discoverable in audio and video content from contact centers, media outlets, government intelligence and legal discovery. For more information, please visit http://www.nexidia.com/.