The communications as a service (CPaaS) market is rapidly growing, with more and more businesses realising they need to invest in a centralised platform to manage their interactions with customers. The market can be divided into two distinct approaches: developer CPaaS and enterprise CPaaS.
Developer CPaaS is the traditional form of CPaaS where APIs are used to develop single-purpose applications for specific use cases. Each application is developed by IT and has its own logic and integrations into business systems and channels.
Webex Connect is an enterprise CPaaS solution—providing a central platform to build and manage CPaaS applications end-to-end across multiple communication channels and existing business systems. Integrations only have to be made once and can be reused across all applications deployed through the platform.
Developers can code applications or use a low code visual builder to build and progressively redefine customer journeys as flows, and there is an extended toolset for a wider range of business users.
When speaking to IT and CX transformation decision-makers, many are already building single-purpose CPaaS applications. Recognising that this approach is unsustainable because as more applications get deployed, it’s harder to deliver a holistic and connected experience.
Because of this, decision-makers are considering adopting an enterprise CPaaS approach; but with competing priorities for spend, they often face challenges to prove the return on investment. Therefore, we recently conducted a study from Forrester Consulting for our CPaaS solution, Webex Connect, in order to examine the Total Economic Impact of the platform for businesses.
The organisations benefiting from Webex Connect
To better understand the costs, risks, and benefits associated with investing in Webex Connect, Forrester interviewed decision-makers from two organisations that had deployed the Webex Connect platform—one of which, a financial institution in South Africa servicing 17 million customers, predominantly anchored the model and calculations.
Both organisations acknowledged that prior to implementing Webex Connect, they struggled with common enterprise challenges—including overcoming legacy technology, the complexity of integrating new channels, and managing customer interactions in an ad hoc manner.
These limitations brought inefficiencies in servicing and customer onboarding processes, leading to broken customer experiences.
Driving better business results
The financial analysis conducted as part of the study revealed that Webex Connect created $1.27 million in benefits for the business over three years and an overall ROI of 330%.
This was established through a number of quantifiable benefits:
- Customer journey management: Webex Connect’s visual journey builder created a 50% increase in productivity efficiency with the time to launch customer journeys reduced from days to minutes.
- Customer onboarding: The implementation of digital channels for customer onboarding processes resulted in $1.2m in productivity and cost savings for the business.
- Self-service capabilities: SMS and WhatsApp capabilities provided end customers with easy and pervasive access to fulfil simple requests in a self-service manner reducing customer inquiries by 2% to the organisation’s contact centres.
In addition to this, there were also some unquantified benefits of Webex Connect noted by Forrester in the study. These included improved digital resilience, more integrated customer journeys and better risk management.
Download the full report from Forrester to find out more detailed analysis and insights here.
Find out more about Webex Connect
Webex Connect is a proven Enterprise CPaaS solution that helps medium and large organisations to manage business-critical customer interactions at scale.
The single, centralised platform is the “glue” that sits between enterprise business systems and multiple communication channels, providing a choice of tools and capabilities for IT teams, developers, and line of business teams to deliver end-to-end customer journeys.
From carrier network connectivity, programmable communication APIs, visual flow builder and low code capabilities to an intelligence layer with artificial intelligence (AI), bots and analytics. Try the platform for free with our developer sandbox today: imimobile.com/webex-connect/sandbox
This article is part of a paid partnership with imimobile, part of Webex by Cisco.