MONTREAL, LONDON and SAN
FRANCISCO, Dec. 10, 2024 /PRNewswire/ -
Coveo (TSX: CVO), the leading enterprise AI platform that
brings AI search and GenAI to every point-of-experience, announced
today that it has been named a Leader in the IDC MarketScape:
Worldwide Knowledge Discovery Software for External-Facing Use
Cases 2024 Vendor Assessment (Doc #US51813424, Nov. 2024).
The IDC MarketScape evaluated 13 vendors that address use cases
external to the organization, such as public-facing site search,
customer support self-service search, and product/ecommerce search
— assessing them on two primary categories: capabilities and
strategies.
"We're honored to be recognized as a Leader in the IDC
MarketScape for Knowledge Discovery for External-Facing Use Cases,"
said Sheila Morin, CMO at Coveo. "We
believe this acknowledgment reflects our unwavering commitment to
supporting the AI search and generative experiences of some of the
world's largest and most innovative brands. For more than a decade,
we've partnered with our customers to deliver AI solutions that
seamlessly blend relevance, precision, and impact at every
point-of-experience. We're grateful to our customers for their
trust and collaboration as we work together to achieve their
business goals, and to our team at Coveo for their relentless
pursuit of excellence."
According to the report, Coveo's strengths include:
- Extensibility: "Coveo's customers praised the ease
of "lifting and shifting" search applications for other use cases,
stating that they found the Coveo platform to be flexible and the
process of extending its use to be low effort."
- Value of generative AI–based question
answering: "Coveo's Relevance Generative Answering feature
has been GA for customers for over a year now, and the feedback is
positive."
Indeed, Coveo customers are already seeing tremendous results
from their investment in Coveo Relevance Generative Answering. For
example, Xero has increased self-service resolution by
approximately 20% and achieved a 40% reduction in costs to serve.
Similarly, SAP Concur has reduced call volumes by 31%, and F5 has
boosted its self-service success rate by 11%.
"As technology buyers rush to adopt generative AI features and
applications, knowledge discovery is emerging as a valuable use
case providing the potential for ROI and competitive advantage,"
said Hayley Sutherland research
manager, Conversational AI and Knowledge Discovery at IDC. "Coveo's
Relevance Generative Answering feature shows great promise for
those organizations looking to leverage generative AI for search
and knowledge discovery."
To learn more about Coveo: www.coveo.com
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an
overview of the competitive fitness of technology and service
suppliers in a given market. The research utilizes a rigorous
scoring methodology based on both qualitative and
quantitative criteria that results in a single graphical
illustration of each supplier's position within a given market. IDC
MarketScape provides a clear framework in which the product and
service offerings, capabilities and strategies, and current and
future market success factors of technology suppliers can be
meaningfully compared. The framework also provides technology
buyers with a 360-degree assessment of the strengths and weaknesses
of current and prospective suppliers.
About Coveo
We strongly believe that the future is business-to-person. That
experiences are today's competitive front line, a make or break for
every business. We also believe that remarkable experiences not
only enhance user satisfaction but also yield significant gains for
enterprises. That is what we call the AI-experience advantage – the
degree to which the content, products, recommendations, and advice
presented to a person online aligns easily with their needs,
intent, preferences, context, and behavior, resulting in superior
business outcomes.
To realize this AI-experience advantage at scale, enterprises
require a robust, spinal and composable infrastructure capable of
unifying content securely and delivering AI search, AI
recommendations, true personalization, and a trusted generative
experience at every touchpoint with each individual customer,
partner and employee. Coveo is dedicated to bringing this advantage
to every point-of-experience, using powerful data and AI models to
transform the enterprise in commerce, customer service, website and
workplace.
The Coveo platform is ISO 27001 and ISO 27018 certified, SOC2
compliant, HIPAA compatible, with a 99.999% SLA available. We are a
Salesforce ISV Partner, an SAP EndorsedⓇ App, an Adobe
Gold Partner, MACH Alliance member, Optimizely Partner and a
Genesys AppFoundryⓇ ISV Partner.
Coveo is a trademark of Coveo Solutions Inc.
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SOURCE Coveo Solutions Inc.