DMG Consulting LLC, a provider of contact center and real-time analytics research, market analysis, business strategy, operations and technology consulting services, has published its first Hosted/Managed Service IVR Market Report.

This report is positioned as the most comprehensive, in-depth and timely guide to this high-value and fast-growing sector. With the respectful position that DMG holds in the global market, this description may not be too far from the truth.

The ongoing recession has increased the pace of adopted and infused momentum into the hosted/managed service IVR market. Following years of relative quiet, this market is now attracting a lot of attention and investment dollars.

Based on the strength of new applications, rapid deployments and product innovation, sales of IVR solutions are growing rapidly. DMG expects a four-year CAGR of 13.4 percent for the hosted/managed inbound IVR sector and 18.7 percent for the outbound IVR segment.

Premised-based IVR solutions have seen better days. Sales of these implementations are expected to decline over the same period as hosted solutions are presenting a better value proposition. In fact, those organizations such as companies large and small, governments, higher education, non-profits, etc. are making commitments.
 
"Self-service IVR solutions are important for enterprises in good times and become critical when budgets are tight, because they are highly effective in automating interactions that do not require the cognitive capabilities of live agents," said Donna Fluss, President of DMG Consulting, in a Wednesday statement.

 

"Many of the hosted/managed service IVR providers have come to market with inbound and outbound offerings that are highly responsive to the economic and technical challenges of their customers and this is speeding up the pace of adoption."

DMG’s report thoroughly addresses both inbound and outbound IVR sectors and related applications. It also examines leading and contending vendors, their offerings, underlying technology, functionality, market share, projections, pricing, benefits, return on investment (ROI), trends, challenges and planned investments.
 
IT and contact center decision-makers can use this report to have the technical, functional, financial and pricing information they need to select the best solution and to negotiate terms that will enable them to succeed with their IVR initiatives.
 
The IVR sector will be an interesting one to watch as companies are making changes in their approach to customer service to contain costs during the recession, while also ensuring customers have access to the information and service they need. As these elements can change over time, a hosted solution makes sense as it provides the necessary flexibility and scalability.