Why Call Recording Matters in Call Accounting
June 03, 2015
By Susan J. Campbell
TMCnet Contributing Editor
Does it make sense to combine your communications efforts when trying to run a business? For the one-man-shop, the owner likely already has this under wraps as their main point of communication may travel with them in the form of a smartphone. For the larger company, however, disparate systems can drive up costs and make it more difficult to achieve your goals. A smart look into call accounting figures may suggest the need for a different focus.
A recent blog post by call accounting solutions provider, ISI suggests that the focus on consolidating platforms is growing. In fact, according to Infonetics Research, revenues increased in the Unified Communications (News - Alert) (UC) market by more than 13 percent last year. The total market size is projected to increase to $12 billion by 2018, with more than 62 million seats in service. If you’re a vendor in this space, the opportunity for significant revenue and profit is there, if you can set yourself apart from the competition.
Nextiva recently suggested that the average revenue per user in the hosted UC market was $45 per month. When additional services are offered, including call reporting and call recording, the ARPU is easily increased by 30 percent or more. Plus, a complete suite of unified recording and reporting available to your customers can set you apart from the wide array of vendors competing in the market today. You do need to have the service and support to back up the capabilities, but establishing yourself as the leader is not difficult when you have what the market demands.
The key is to extend capabilities to businesses outside of the assumed markets. For instance, it’s easy to offer call recording to the contact center as it’s a standard. When you extend these capabilities to other businesses that may not have traditionally invested in this space, however, the potential for profit is considerable and you can penetrate new markets. Compliance continues to be important in a number of industries and call recording is one of the best ways to demonstrate a company is following the rules.
When you combine these offerings with the ability to integrate call accounting, you’ve handed clients the toolkit they need to demonstrate competency in their industries, as well as streamlined communications tools that drive results. In intensely competitive markets, you have to offer something that sets you apart from every other provider. When you can identify those pain points and provide a solution, you’re much more valuable to your targets.
Edited by Stefania Viscusi