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A Benchmarking System to Spark Companies to ActionInnovation that Fuels New Deal Flow and Growth Pipelines Frost Radar: N o r t h A m e r i c a n E n t e r p r i s e C l o u d C o n t a c t C e n t e r M a r k e t , 2 0 2 1 Global Information it offers flexibility in terms of scale, reach, and modularity, and allows capabilities to be introduced using a phased approach. It also is driven by cloud technologies higher return on investment (ROI), contact center as a service (CCaaS) solutions greater speed and flexibility, and organizations need for platforms that ensure uninterrupted business continuity, including the ability to deploy work-at-home-agent (WAHA) models. The enterprise (300 seats and above) and large enterprise (1,000-plus seats) contact center was born before the advent of cloud contact centers; therefore, premises-based contact centers comprise a larger percentage of the installed base in North America. As the market has matured, many enterprise customers have looked to the cloud to provide quicker access to enhanced features and as an attractive option to maintaining on-premises systems. Source: Frost workforce management (WFM), workforce optimization (WFO), and workforce engagement management (WEM) applications; and analytics-related applications are targeted by the majority of competitive vendors. K5DF-76 7 Growth Environment Source: Frost now, the expansion of hybrid cloud offerings in addition to fewer data security and scalability concerns regarding cloud deployments are driving many large enterprises toward full cloud models. Growth in the cloud contact center market will be driven by end-of-life cycles of existing system platforms, new WFO tools, redesigned agent desktops, digital transformation, richer integrations to third-party applications, and new analytics capabilities. The increased demand for cloud solutions (along with intense market competition) has led to cloud-to-cloud migration. Numerous new cloud contact center customers in North America and Europe have already implemented cloud solutions from other vendors. Cloud vendors must leverage innovations and showcase their competitive advantages to clients to stay ahead. Many enterprises are tied into multi-year contracts for on-premises solutions, limiting their migration to full-cloud options; as these contracts expire, cloud migration will increase. Growth also will be bolstered by enterprise-class providers that offer easy migration plans, hybrid environments, and financial incentives to ease the move from CAPEX to OPEX deployments. K5DF-76 8 Growth Environment (continued) Source: Frost the enterprise market consists of a subset of suppliers. Those with notable presence include 8x8, Aspect, Avaya, Cisco, Enghouse Interactive, Five9, Genesys, NICE inContact, Noble Systems, Talkdesk, and Vonage. Relative newcomers in the CCaaS market (yet adding enterprise accounts) include Edify and Thrio. Newcomers also have introduced reimagined contact center platforms with next-generation development tools and omnichannel workflows. The COVID-19 pandemic has compelled almost all contact centers in the region to opt for the WAHA model. This pandemic accelerated the migration to cloud/hybrid setups and created opportunities for leveraging solutions that support a more significant WAHA base, self-service virtual assistants (VA) and intelligent virtual assistants (IVA) and bots, and AI-enabled solutions. The contact center industry quickly responded in kind with the WAHA model, free or trial offers for remote agents, and generous pricing models, even as they dealt with their shift to remote working. Frost therefore, a vendors ability to provide flexibility and choice in enterprise deployment is an important factor. Availability of a Multitenant Offering: Because this is a cloud contact center Frost Radar, Frost for example, it is not uncommon for a company to move the majority of functionality to the cloud yet (for perceived security reasons) maintain contact center recordings on premises. An important attribute in the enterprise market is providing flexible deployment options (whether on premises, cloud, or hybrid), along with easy-to-use migration tools if an enterprise chooses to move part or all of its operations to the cloud. Leading vendors are those that are able to clearly articulate migration strategies and positioning options for their customers, since not all customers are ready to go “all in” to the cloud. K5DF-76 11 Primary and Secondary Attributes of the Enterprise Market The following are used to weight evaluation of solution providers in the enterprise market: Primary Attributes Ability to scale Ability to easily migrate to the cloud Automated risk mitigation and compliance Carrier-grade voice quality Full omnichannel capabilities with flexibility to customize Multinational support and global deployment coverage Reliability and security Rich, integrated inbound and outbound capabilities Interoperability (open APIs), app stores, partner ecosystems, and deep third-party integrations Customer support capabilities including professional services, flexible pricing options, flexible service-level agreements (SLAs), and customer service options Secondary Attributes Platform maturity (customer references, length of time in the market) AI-infused capabilities in the area of process automation, personalization, self-service channels, and WFO Capabilities to engage and manage remote workforce Integration of unified communications and collaboration (UCC) functionality Richer data and analytics capabilities to drive employee engagement and customer satisfaction (CSAT) Vertical market focus/expertise (personnel hired from within an industry, best practices, features, use cases, market packages) Source: Frost there is no or limited upfront investment, no additional maintenance costs, and the software is maintained by the provider. Most CCaaS platforms can be subscribed all-in-one including all the basic contact center functionality (although organizations are free to subscribe to specific functionality from other providers). 13 Frost Radar North American Enterprise Cloud Contact Center Market K5DF-76 14 Frost Radar: North American Enterprise Cloud Contact Center Market Source: Frost in fact, others in the market certainly meet the criteria and sell into large and very large enterprises. Telco providers that offer cloud and hosted, natively built contact centers or through partnerships also are not included. As the Frost Radar shows top-tier players, a lower placement on the Innovation or Growth indices, or exclusion from this years project, does not necessarily mean that a vendor cannot provide a full ECCC solution; rather, it could indicate that a short-term roadmap had not been released by the end of 2020 or that a platform has not been in the market long enough to fully compare growth over a number of years with more established providers. In addition, some vendors chose to not participate, could not complete an accompanying survey in a timely fashion, or would not provide any numbers to substantiate growth. The vendors in the upper right (8x8, Aspect, Five9, Genesys, NICE inContact), met all the primary and secondary criteria, including longevity of offering, consistent and increasing growth, strong go-to-market strategies, and invested heavily in the key trend areas, such as incorporating AI across platforms. Those in the lower right innovated in key areas at above-market rates with solid product roadmaps (but not at the pace and breadth of the upper tier), and either were newer to the ECCC market with less relative growth or less brand recognition for ECCC offerings. Frost Radar: Competitive Environment Source: Frost Cisco acquired Voicea for transcription and conversational AI and imimobile for omnichannel enablement and messaging; and Five9 acquired Inference Solutions for conversational AI. Vendors have been trying to expand their omnichannel capabilities and target new customers by incorporating channels that are popular in regions outside of North America. Notable additions include Facebook Messenger, Instagram, Twitter, and WhatsApp. A small number of vendors have also targeted video chat (e.g., 8x8, Bright Pattern, Cisco). K5DF-76 17 Frost Radar: Competitive Environment (continued) Source: Frost private; and hybrid cloud) as well as adopting a microservices architecture to provide new functionalities more quickly. Vendors will continue to diversify and expand their deployment offerings in the next 5 years. This is a key requirement in the ECCC market. A trend that continues to grow is for vendors to enhance their platforms add-on capabilities by developing application marketplaces that allow customers to integrate the CCaaS solutions with hundreds of third-party applications. The following vendors have been particularly active in this regard: Five9, Genesys, NICE inContact, and Vonage. However, the ECCC market exhibits a maturity in the use of application programming interfaces (APIs), along with strong ecosystem of partnerships, often earmarked by joint development. Examples of this include Noble Systems, Aspect Software, and Avaya. 18 Companies to Action Companies to Be Considered First for Investment, Partnerships, or Benchmarking K5DF-76 19 8x8 Source: Frost its live person detection (LPD) utilizes AI-based algorithms to ensure greater accuracy and compliance; and its Skills and is in the lower right. Although the companys sweet spot is the mid-market, it has made significant inroads into the enterprise market over the past couple of years. Despite having a smaller marketing budget than more entrenched providers, it managed to greatly elevate its profile through channel partnerships, search engine optimization work, and customer references. Its high-touch sales and service model ensures that its customers get positive business outcomes. Sharpens vertical focus on specific industries, such as healthcare, retail, and financial services, backed by use cases and region-specific expertise is helping drive growth. Sharpen offers demonstrable value backed by multiple customer use cases showing improved agent experience, obvious ROI, and increased CSAT scores. The company stands by its money-back guarantee of 5 to 15% ROI within the first 60 days. Sharpen should continue to build out its outbound capabilities to target a larger enterprise audience. Sharpen would do well to build out sales support beyond North America to capture more market share. Sharpen should develop migration tools to foster easier adoption of competitive replacements. Adding more game mechanics to its performance management capabilities would significantly enhance its profile in this space. K5DF-76 30 Vonage Source: Frost further expand omnichannel, analytics, WFO, gamification, and AI-based capabilities; and explore new go-to-market partnerships and strategies to increase revenue and distinguish themselves in the market. 1 1 2 1 3 Strategic Insights Source: Frost CEOs require guidance. The Growth Environment requires complex navigational skills. The customer value chain is changing. STRATEGIC IMPERATIVE The Board of Directors has a unique measurement system to ensure oversight of the companys long-term success. The Board of Directors has a discussion platform that centers on the driving issues, benchmarks, and best practices that will protect shareholder investment. The Board of Directors can ensure skillful mentoring, support, and governance of the CEO to maximize future growth potential. LEVERAGING THE FROST RADAR Growth Pipeline Audit Growth Pipeline as a Service NEXT STEPS Source: Frost a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies. GI1: MARKET SHARE (PREVIOUS 3 YEARS) This is a comparison of a companys market share relative to its competitors in a given market space for the previous 3 years. GI2: REVENUE GROWTH (PREVIOUS 3 YEARS) This is a look at a companys revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost RadarTM. GI3: GROWTH PIPELINE This is an evaluation of the strength and leverage of a companys growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. GI4: VISION AND STRATEGY This is an assessment of how well a companys growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? GI5: SALES AND MARKETING This is a measure of the effectiveness of a companys sales and marketing efforts in helping it drive demand and achieve its growth objectives. K5DF-76 41 Frost Radar: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform INNOVATION INDEX ELEMENTS HORIZONTAL AXIS Innovation Index (II) is a measure of a companys ability to develop products/services/solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets, and are aligned to customers changing needs. II1: INNOVATION SCALABILITY This determines whether an organizations innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. II2: RESEARCH AND DEVELOPMENT This is a measure of the efficacy of a companys R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. II3: PRODUCT PORTFOLIO This is a measure of a companys product portfolio, focusing on the relative contribution of new products to its annual revenue. II4: MEGA TRENDS LEVERAGE This is an assessment of a companys proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. An explanation of Mega Trends can be found here. II5: CUSTOMER ALIGNMENT This evaluates the applicability of a companys products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs. K5DF-76 42 Legal Disclaimer Frost & Sullivan is not responsible for any incorrect information supplied by companies or users. Quantitative market information is based primarily on interviews and therefore is subject to fluctuation. Frost & Sullivan research services are limited publications containing valuable market information provided to a select group of customers. 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