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The Growing Market for Cloud-Based Contact Center Services

This article was published on May 26, 2020

Businesses are increasingly taking advantage of cloud-based contact center services to raise the bar for customer service — while also reaping cost savings and greater revenue. The cloud-based contact center market is rapidly maturing as businesses capitalize on cloud contact centers' ability to integrate with customer relationship management (CRM) and workforce optimization platforms. While the cloud contact center market accounted for $8.93 billion in revenue in 2018, it will expand to $33.30 billion by 2024, according to Mordor Intelligence. Here's why more and more businesses are choosing the cloud for their contact center.

Deliver Valuable Efficiencies

Cloud-based contact center services offer businesses several advantages. For starters, they typically allow for a faster and more flexible deployment than their traditional, on-premises cousins. Some businesses find the scalable licensing model especially handy for managing seasonal staffing needs and staffing up operations on short notice. In a cloud scenario, they can do so with leaner, more predictable operational expenditures instead of hefty upfront capital investments.

Meanwhile, a cloud platform can also help with compliance management, easing an otherwise burdensome obligation. All these benefits allow businesses to be more nimble and responsive to changing market conditions, which has become imperative in today's competitive environment.

These efficiencies are compelling to many companies, but they're just the tip of the iceberg when it comes to what cloud-based contact centers make possible. Cloud contact centers provide convenient remote and mobile access as well, enabling the business to deliver customer service from any location — even in inclement weather — by allowing representatives to field inquiries from home, from a remote office, or while in transit.

And thanks to the streamlined administration that a cloud-based solution offers, organizations can focus on developing an even better experience for customers. Businesses can leverage cloud contact centers to boost the bottom line, increasing revenue by improving customer satisfaction.

By streamlining their communications stack in a single cloud-native platform, companies can secure a lower TCO while still fully innovating the customer experience.

Improve Brand Loyalty With Superior Service

Company culture and talent management are critical to the contact center in this customer-first digital age. After all, customer interactions reflect directly on the company brand — positively or negatively — which influences customer loyalty over the long term. As businesses have noticed, cloud-based contact centers offer benefits when it comes to ensuring the company remains positively associated in the minds of its customers.

Cloud-based contact centers can help businesses develop a culture of excellence, streamline the processes of training and supporting managers, and even retain valuable front-line agents who deliver an exceptional customer experience. Supervisor dashboards make it easy for managers to train and monitor staff, allowing them to listen or join in on customer calls as needed and monitor employee performance. Meanwhile, service organizations can leverage real-time metrics and historical data to make better business decisions.

Although it's tempting to think of cloud contact centers simply as software solutions, they're more than just tools — they come with a wealth of specialized knowledge. When partnering with a vendor that has deep experience with contact centers, a business can confidently launch a contact center that improves the customer experience, makes agents' tasks easier to manage, and delivers the personalized treatment that customers expect.

The Dynamic, Versatile Contact Center

Cloud-based contact centers, while already delivering an advantageous ROI, can further prove their value through integrations with a wide range of business platforms. For example, omnichannel contact center availability allows customers to engage with businesses using the channels they prefer, enjoying a consistent experience whether through social media, chat, video, telephone, or another touchpoint. CRM integration allows businesses to obtain a complete view of customers, which is fundamentally important for understanding them and delivering the services they seek.

Cloud-based contact centers also help companies further improve their customer service through powerful data insights. Performance analytics enable businesses to optimize their services, while skills-based routing ensures customers reach the representatives who are most qualified to handle their issues. Workforce optimization simplifies agent scheduling and quality management, maximizing the contact center's workflow. Gamification empowers customer representatives to strive for new heights in customer service excellence and feel plugged into the life of the company by engaging in friendly competition with one another.

The Unified Contact Center

Businesses are now joining their contact center and their unified communications platform in a single solution that's easy to install and maintain, reaping rewards in the process. This combined solution reduces costs and IT complexity while creating a strong, future-proof foundation for further digital transformation. Empowered to deliver a better customer experience through smart CRM integration, contact center agents can, in turn, enjoy greater effectiveness and satisfaction in their jobs.

By streamlining their communications stack in a single cloud-native platform, companies can secure a lower TCO while still fully innovating the customer experience. IT can breathe a sigh of relief, knowing that there is a single point of contact for resolving any issues that may arise. And with a unified solution in place, these businesses have the flexibility they need to scale their contact center operations as their organizations continue to grow.

Every business today is keenly aware it must make customer service a priority, which is why it's no surprise cloud contact centers are seeing increased adoption. If your company is looking to provide higher-quality customer service, operate more efficiently, capitalize on business software integration, and build flexibility for the future, a cloud-based solution for the contact center provides an excellent way to achieve all these goals.

Vonage Staff

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