Coveo Named a Leader in IDC MarketScape for Worldwide Knowledge Discovery Software for External-Facing Use Cases 2024

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.

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