Recording is generally a high annual revenue per user (ARPU) service. The equivalent cost of deploying a premise-based recording system is very high, involving a large capital outlay, and is typically out of reach for many small organizations. Hosted recording offers a solution for organizations of any size, in any industry. How can Service Providers bring this to market?
Today, employees interact with customers via a wide range of media including voice, video, SMS, chat, email, and social media. This poses a substantial problem for organizations who must comply with specific regulations. Interaction recording not only provides risk, liability, and compliance protection, but it also can be leveraged to mine valuable business intelligence which increases employee productivity, leading to enhanced customer satisfaction.
The enterprise call recording and workforce management market is estimated to be worth $2 billion per year and there is increasing migration from traditional premise-based solutions towards cloud-based products. DMG reports an increased adoption of cloud-based solutions by enterprises and increased support from service providers operating within their own private cloud while providing the service and capabilities businesses are used to from their legacy systems.
The transition from traditional voice recording systems to hosted is being driven by the adoption of hosted IP Centrex services, or Cloud PBX, and Cloud contact center services. This migration is accelerating at a rapid pace as Tier 1 Service Providers bring Cloud PBX and in-network mobile call recording services into their product offering.