Together, Zoom and Five9 shape a new market
The News On July 18, 2021, Zoom Video Communications, Inc. announced the acquisition of Five9, Inc. in an all-shares transaction. The transaction values Five9 at around $14.7 billion. According to the press release “the acquisition is expected to help enhance Zoom’s presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the $24 billion contact center market.” According to Eric S. Yuan, CEO and founder of Zoom, the company is “continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers”. He continues with “enterprises communicate with their customers primarily through the contact center, and we believe this acquisition creates a leading customer engagement platform that will help redefine how companies of all sizes connect with their customers”. Rowan Trollope, CEO of Five9 adds that “businesses spend significant resources annually on their contact centers, but still struggle to deliver a seamless experience for their customers”. Trollope will become a president of Zoom and continue as CEO of Five9. Zoom expects the acquisition of Five9 to be “complementary to the growing popularity of its Zoom Phone offering […] The combination of both firms also offers both companies significant cross-selling opportunities to each other’s respective customer bases”. As especially Rowan Trollope emphasizes upon repeatedly in the acquisition briefing, this acquisition is about accelerating growth by combining the respective assets, software as well as customers. The bigger picture The trend towards call centers in the cloud has been there before and it has been amplified with the Covid pandemic. Connecting...
How to create customer experience with blade technology
Starting with the concept of blades we went across a number of different topics related to customer experience with our guest Denis Seynhaeve. Denis is the CEO of 3CLogic, a company that is dedicated to ‘pluggable’ contact centers in the cloud, helping organizations to provide good customer experience via voice technology. So, naturally a number of questions arises. What is blade technology (hint, it doesn’t have anything to do with the blade runner but is closer to the blades used in data centers …)? How does this technology contribute to a customer experience? Why choosing AWS and not another hyperscaler – or run out of own data centers? And, first, and foremost: Why the concentration without exclusivity on ServiceNow? Here, Denis clearly has a strategy that differs from the one pursued by Richard Rosen of Fastcall, who has an exclusive focus on Salesforce. And, last but not least the fundamental question: How to choose the right ecosystem to play in, if one is not an 800-pound gorilla? Answers to these questions and more in our...
Customer Service in a World of Ambient Computing – The Service Center View
A few weeks ago I wrote an article about customer service in a world of ambient computing. This article looked at customer service from a customer’s point of view. In it I described how I see customer service getting humanized again by leveraging the advances in AI technologies like Natural Language Processing, speech-to-text- and text-to-speech generation along with intent determination. Leveraging these technologies customer service will turn into a conversation and it won’t matter anymore whether service is delivered by a bot or by a human. For the customer it will all appear to be the same. Instead of FAQs or web searches, bots will be the first line of support and escalate a problem to humans if they cannot solve it on their own. The obvious question is whether there will be an impact on the customer service center? And it probably does. Call centers, and with it the service agents as well as their managers, already now are under intense pressure to deliver, and to deliver more efficiently. With the increasing use of call deflection technologies like FAQs and communities there is a trend for the incidents facing the agents becoming more challenging. For example Helpshift states that already with its technology it is able to deflect about 90% of all incidents, which are solved via the native in-app FAQ that is delivered by the them. This statement basically says that the support staff is basically relieved of dealing with simple matters but has the chance to take up the more challenging ones. Still, in a world of ambient computing any given app can have hundreds of...