focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
The original link is wrong, this is the correct one:
https://www.cxtoday.com/contact-centre/zoom-contact-center-licenses-triple-as-its-ccaas-business-surges/
CX Today - 27th February 2024
Zoom Contact Center Licenses Triple as Its CCaaS Business Surges
https://www.cxtoday.com/contact-centre/zoom-reaches-700-ccaas-customers-virtual-agent-growth-soars/
CX Today - 21st November, 2023
Zoom Reaches 700 CCaaS Customers, Virtual Agent Growth Soars
...Zoom has high brand loyalty. Much of this is because of its easy-to-use software prerogative. Yet, that appears to somewhat clash with the complexity and diverse requirements of large-scale contact center operations.
As such, some may question: can Zoom handle the complexity of an enterprise contact center?
Recognizing these doubts, Zoom aims to establish its credibility in the midmarket first, earn that referenceability, and then dive deeper into the enterprise space.
That said, Zoom has already successfully implemented its CCaaS solution across environments with 1,000+ agent seats. Now, as it gains further traction, expect the pace of larger-scale implementation success stories to accelerate.
“We wanted to be a little bit proactive, you know, focus on medium-sized companies, from hundreds to thousands of agents,” said Yuan. “That’s our sweet spot.
"But, we are not going to stop here. As I mentioned earlier, large companies already look at our Contact Center solutions seriously. We have confidence we are going to win."
To “win”, Zoom has a much broader UCaaS install base it may wish to pull on.
However, it hasn’t yet doubled down on such cross-selling. Indeed, Matt VanVliet, Director of Equity Research at BTIG, estimated – during the earnings call – that: “In terms of overall customer mix, [Zoom is] below one percent penetration on the contact center.”
Moreover, earlier this year, Zoom revealed that 40 percent of its CCaaS revenues come from net new customers – highlighting how land-and-expand is more of a long-term play.
If Zoom can execute this strategy, it may unlock significant revenue gains, as some of its early CCaaS success stories exemplify.
CCaaS Success Stories
Yuan and Steckelberg shared examples of how it has cross-sold the Zoom Contact Center to big-name brands, highlighting how a land-and-expand strategy may offer a massive engine for future growth.
For instance, Yuan shared its work with Dropbox, a longstanding client that already leveraged Zoom Meetings, Rooms, Phone, and Events. He noted:
"In Q3, they selected Zoom Virtual Agent and Zoom Contact Center to provide world-class AI-enabled support to their global user base."
Next, he discussed Amynta Group, a premier insurance services company that initially adopted Zoom Phone and Zoom Contact Center on a limited scale in Q1.
“Seeing how our modern solution offered superior agility, customization for CX flows, and administrative functionality, in Q3, they decided to standardize their customer-facing sales support on the Zoom stack,” added Yuan.
That process included adding Zoom Workforce Management, and – altogether – the business increased its monthly spending with Zoom by five times...
https://www.cxtoday.com/contact-centre/zoom-reaches-700-ccaas-customers-virtual-agent-growth-soars/
"...with only 20% of our markets shifted to the cloud, we are witnessing an enterprise cloud inflection point, where the lion’s share of exciting large-scale cloud transitions is about to take place."
Barak Eilam, CEO of NICE
https://www.nice.com/company/investors/letter-from-the-ceo
CX Today - 20 th March 2024
Juniper Research suggested CCaaS vendors will generate over $10BN in subscription revenue in 2025 – up 21 percent from its estimation for 2024.
The analyst then predicts that growth will plateau in the three years following, and subscription revenues will rise steadily to $18BN by 2028.
While that growth may seem healthy, Juniper notes that the plateau will stem from an “anticipated reduction in service innovation and over-saturation of service providers”.
Such over-saturation comes as many tech juggernauts have entered the CCaaS space over the past two years – including Google, Microsoft, Sprinklr, and Zoom.
Therefore, while many more big contracts are up for grabs, the competition will grow more fierce.
https://www.cxtoday.com/contact-centre/ccaas-innovation-is-slowing-despite-the-genai-boom-claims-juniper-research/#:~:text=CCaaS%20Subscription%20Revenues%20Will%20Jump,from%20its%20estimation%20for%202024.
Zoom speed: 10 new customer experience updates to help you stay one step ahead
05 Peace of Mind with Secure Customer Payments
We know security is paramount, especially if customer payments are part of your contact center operations. The new PCI Pal integration, coming in April to Zoom Contact Center and Zoom Phone, will help facilitate secure real-time payment data capture through voice or messaging channels. Our integration will provide the tools you need to help ensure compliance with Level 1 PCI DSS standards, automatically pausing contact center recordings during credit card captures. The result of this innovative feature will not only mean enhanced security but also more streamlined payment processes, giving precious time back to customers.
Https://www.zoom.com/en/blog/zoom-speed-10-new-cx-updates-to-help-you-stay-one-step-ahead/
Mitch Lieberman on LinkedIn - 27th March, 2024
A few thoughts on what I am seeing at EnterpriseConnect and it is also about the things not said - focus on the shiny object, not the details. I cannot speak to specific vendors, for that I apologize.
UCaaS and CCaaS are merging, this is not if, but rather when. The merger means that the traditional CCaaS landscape is being invaded by the UCaaS players and in the end, it all depends on who is the buyer. The mid-market is the battleground.
Yes, AI is all the rage and there have been valiant attempts to directly connect AI to better CX they are not hitting the mark. The play is indirect, meaningful, but indirect. There are a lot of efficiency stories (post-call work summary - poster child). AI, specifically GenAI is a human-in-loop or agent-assist capability - not ready for prime time to put in front of customers.
Final point for today (tomorrow is LLM day), the story not told is since the ContactCenter lost the desktop wars to CRM 20 years ago, CCaaS is making a comeback - all of the data needed is in the conversations; sales, service, support - it is all here; sentiment, talk-time, interrupt time, words-per-minute, summary, trigger words, patience, silence, hold, frustration.
It is no longer about the desktop, it is about Data and the Conversations - It is like CCaaS is looking at the CRM system and saying "hold my beer"!
Other link:
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Go to Investors 'Events & Presentations'
Five9
-Investor Presentation: 21/2/24.
-Morgan Stanley TMT Conference: 7/3/24
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Bullish presentations. 20% of on-premise have transitioned to the cloud and momentum is picking up.
James Barham talking 20% to 30% + annual growth rate. Listening to Five9 reinforces his view.
#MultiBagger