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Cloud telephony has increased the degree of efficiency of the business communications and of course, the next big thing to invest in.
Fremont, CA: The past year has witnessed a prodigious growth of the cloud telephony sector in terms of awareness and adoption. The ever increasing popularity of the cloud technology and its exponential range of growth has fostered the demand for cloud telephony services such as IVR, virtual number, and call data analytics even more.
Cloud telephony is not a nascent concept anymore. The global market is ready to embrace it comprehensively and willing to accept further technological innovations in this sector too. Voice bots, multi-lingual technology, and data analysis are going to be the key trends in cloud telephony segment irrespective of their line of business in the future.
The ease of adoption and usage has made it one among the most adored technologies of today and helped it to replace the traditional PBX or EPABX, and to shift the entire telephone system over the cloud.
Cloud telephony solutions and services have been widely adopted in almost all industry verticals, such as banking, retail and consumer goods, healthcare, insurance, public institutions, and IT and telecom. Among these, banking and insurance, retail and consumer goods, and IT and telecom are some of the primary industry verticals adopting the cloud telephony services to cut down their operational costs with an intention to serve the customers with advanced and seamless cloud communication technologies.
The global cloud telephony services market has been foreseen to grow at a steady pace during the forecast period from 2018 to 2023. North America is conjectured to lead the global cloud telephony services and solutions market in the coming years. The US, Canada, and Mexico are the leading countries in the region above. This growth should chalk up to the presence of industry-leading cloud telephony solution providers and advanced IT infrastructure, there.
The Asia-Pacific is expected to be the most rapidly growing region in the global cloud telephony services market over the forecast period. Increasing digitalization and adoption of cloud services to reduce operational costs are the major push factors for the adoption of cloud telephony services in the region.
Let’s now have a look at the detailed analysis of the prominent cloud telephony trends and how they will work wonders in the relevant sectors.
Industry-specific trained voice bots
There has been a paradigm shift in technology. The trend gradually shifted from transistors to conventional communication equipment such as land phones, then to mobile phones, and now everything is on the cloud.
With the increased espousal of mobile phones, voice bots have already come into existence at the consumer level and enabled the consumers to interact with them in the form of both audio and video. Voice bots are outsmarting in collecting further details about their focus group and deciphering their concerns in a more sensible way.
AI is helping voice bots to conceal their real identity and to keep the conversation natural. These AI-driven chatbots can also handle the mundane, repetitive tasks, which the human agents find annoying.
The voice bots are helping the businesses to reduce the human efforts in every aspect and save operational costs drastically.
Utilization of Multi-lingual Technology
When market places are expanding beyond the domestic borders, there emerges a mounting demand to make the services accessible to the multi-lingual audience. Here, cloud telephony is becoming the lifesaver of the businesses by helping them to provide personalized experiences to the customers. Cloud telephony products are frequently undergoing developments and upgrades to support a rich set of global languages.
Cloud telephony has enabled the businesses to interact with their customers in any of their preferred languages using AI. It will also facilitate customer service automation without hampering the personalization procedures. The on-call customer experience will be customized as per the ‘language of choice’ of the customer.
Voice Analytics-Valuable Intelligence from Recorded Calls
Enterprises are in a constant quest to find better alternatives to help them understand their buyer persona and to address their concerns, including the customer satisfaction and the quality of their service, customer churn, and competitive intelligence.
The cloud telephony enabled voice analytics solutions are enabling the organizations to analyze the recorded customer calls, the gold mine of rich insights of valuable customer data. These derived insights will help the enterprises to gather information regarding their client base and to figure out the actions required to expedite appropriate resolution.
The organizations are also using these recorded calls pool to check the effectiveness of their marketing campaigns via measuring the ROI.
Cloud telephony services are easily scalable. These can be integrated with the other SaaS tools as well.
This scalable nature of the cloud telephony services allows the enterprises to access their customers calls from any device, any place and helps them to manage their communications through one channel with no restrictions.
It provides the flexibility to scale up for the businesses to handle communication with a large customer base and helps the businesses to improve their services and get optimized results.
With the increasing awareness about the cloud telephony sector, the enterprises of different sizes, including the SMBs and even early-stage startups are coming forward to adopt this technology.
Undoubtedly, cloud telephony is emerging as the next big thing to invest in and presumed to be the most demanded SaaS platform in the years to come.