The world of CPaaS has largely been a buzzword among the cloud communication community. As many know, I sometimes feel like the CPaaS terminology has created lots of confusion, but it’s now time for all businesses to understand why integrating communications capabilities via simple API is critical.
In today’s digital world, customers expect seamless communication with businesses across multiple channels. Whether it’s through voice, video, messaging, or chat, businesses that can provide a unified and effortless communication experience are more likely to succeed in the long run.
That’s where CPaaS comes in
CPaaS, or Communications Platform as a Service, is a cloud-based platform that provides businesses with the tools and infrastructure needed to add real-time communication capabilities to their applications. By integrating CPaaS into their existing systems, businesses can offer a more personalized and efficient customer experience, without having to invest in costly hardware or software.
Here are some key reasons why businesses should be aware of CPaaS:
It enables real-time communication across multiple channels
With CPaaS, businesses can embed voice, video, messaging, and other communication channels into their applications, enabling customers to communicate with them in real-time. This can lead to faster resolution of issues, improved customer satisfaction, and ultimately, increased revenue.
According to a recent study by Twilio, 9 out of 10 consumers want to use messaging to communicate with businesses. Additionally, 66% of consumers prefer messaging over any other form of communication when it comes to customer service.
It improves customer engagement and retention
By providing a seamless and personalized communication experience, businesses can improve customer engagement and retention. For example, a business that integrates CPaaS into their mobile app can send push notifications to customers based on their location, behavior, and preferences. This can lead to higher engagement and loyalty over time.
According to a report by Forrester, companies that prioritize customer experience see higher revenue growth rates than those that don’t. In fact, companies that lead in customer experience outperform laggards by nearly 80%.
It enables faster time-to-market
One of the biggest advantages of CPaaS is that it enables faster time-to-market for new products and services. With pre-built APIs and SDKs, developers can quickly integrate communication capabilities into their applications, without having to build or maintain the underlying infrastructure. This can lead to faster innovation and a competitive edge in the market.
According to CPaaS Acceleration Alliance and S&P Global Market Intelligence, the growth forecast projects that current CPaaS market players will have a compounded 21% annual growth rate. The total market is predicted to be worth more than $100B by the end of the decade.
In conclusion, CPaaS is a game-changer for businesses looking to improve customer experience, increase engagement and retention, and accelerate innovation. By leveraging CPaaS solutions, businesses can stay ahead of the curve and meet the ever-increasing expectations of today’s customers.
At True North, we help our clients by both finding ways to integrate CPaaS into their business processes and also find ways to make their unique communication capabilities available via APIs. This is why we’ve partnered with the CPaaS Acceleration Alliance where they focus on bringing together CPaaS enablers, CSPs and industry experts to help CSPs with their strategy, partnerships, go-to-market, business development and customer success. We are excited to be a part of an alliance where we work together to bring ideas and information that can be shared within the CPaaS community.
Michael is a proven business leader and technology pioneer. As former CEO of BroadSoft, Michael led the company from its early beginnings to its successful exit to Cisco in 2018. Along with his co-founder, they led the creation of a new industry, moving enterprise communications to the cloud. Michael scaled the organization to 2,000 employees and served customers in over 80 countries. Michael created a very close relationship with the company’s global service provider partners, allowing the company to become the clear market leader in the hosted unified communication category.
Michael’s passion is to work closely with customers, understanding what will make them successful and then delivering. He built a truly unique company, where every employee was empowered and focused on delivering value to the end user. Michael believes in engaging the team to continuously fine tune the strategy and GTM, and then aligning the team to deliver and drive results. This led to BroadSoft delivering on its promises as a public company for 8 years.
Michael looks to use his marketing, strategy and selling skills to help entrepreneurs scale their businesses as Managing Partner at True North Advisory. Using his industry experience and network of global contacts, Michael is able to work side by side with these entrepreneurs helping them craft their strategy and their go to market activities.