Competition in the communications landscape is growing, and service providers are feeling the pressure. Today’s leaders are constantly searching for ways to increase margins, at a time when many lower-yield services in unified communications are consuming their portfolio.
To differentiate and thrive in the modern world, service providers need a more intuitive way to leverage innovative new technologies like AI and 5G to retain and attract customers. In the past, many brands focused on offering over-the-top solutions, built onto an existing network. Business leaders experimented with applications, streaming services and contact centre software.
However, while these solutions held value, they also presented new challenges, from increased complexity and costs to lower margins. Network providers maintained most of the profits, while service providers struggled with the costs of running the network.
Fortunately, there’s another solution: building value within the network.
Bringing Conversational Data Into the Network
To maximise and increase revenue potential, modern service providers are beginning to shift away from over-the-top service offerings built onto the network. Instead, they’re focusing on simpler, less costly solutions derived from within the network.
Rather than simply focusing on monetising connections which allow customers to communicate via voice, video, and text, service providers can instead derive value from helping to enhance the conversations users have and improve the insights they gain from those interactions.
Through network embedded services, companies can turn conversations across every channel into meaningful data, which can then be fed through AI, natural language processing, and machine learning algorithms. The result is a chance to help customers unlock new opportunities from recording, understanding, and evaluating their conversations more effectively.
Dr Iain McCowan, Director of AI at Dubber, comments on the advancement of large language models for this purpose:
“With software like Dubber Moments, organisations no longer need to define complex keyword based rules to tag and mine call transcripts, but can instead rely on AI to understand the conversation and detect specific Moments of significance. These Moments can provide immediate value within a single conversation, and valuable insights emerge when these are aggregated in a secure, privacy-preserving manner across the organization. Visualizing these insights gives a birds-eye view of communication patterns and trends, transforming data into actionable intelligence to benefit teams, small businesses and large corporations alike. Traditionally, this level of AI was something that had to be customised and tuned for each business, but these new models are capable of high performance at tasks that are common across a broad range of industries, for example, to identify what people are complaining about, or what the actions are following a meeting.”
For instance, with a Microsoft Teams recording and conversational intelligence solution, service providers can give businesses a new way to enhance the value of their Teams instance. Rather than trying to download calls from Teams, PSTN connections and other platforms into different tools and analyse them independently, companies could leverage a service-provider branded platform for end-to-end unified insights.
Through the right platform, companies can provide businesses with an innovative way to improve their compliance strategy and examine their data in-depth. For instance, a service provider could create a platform where companies can store data, search for information using keywords, and leverage insights through sentiment analysis with AI.
The Benefits of Drawing Value from within the Network
While building solutions to work on top of a network can be time-consuming, complex, and expensive, finding ways to leverage value from inside of the network is much simpler. With an all-in-one conversational analytics and recording platform, for instance, companies can rapidly provide their customers with access to an all-in-one tool that works across any platform or device.
Using this technology, business leaders can reduce costs, improve productivity, and even enhance customer service, without having to upgrade or migrate to a different service. According to Cavell Research, one of the main reasons companies avoid moving between communication providers is they believe their systems are too integrated and complex. As companies attempt to keep costs low, and minimise strain on their resources, they’ll continue to search for solutions they can add into their existing network, without the need for migration.
In the past, building a comprehensive solution for call analytics and conversational insights into an existing network would have been a complex process, requiring various applications and developer tools. Now, it’s easier than ever, thanks to a new generation of network native solutions, built specifically to help service providers increase their value.
By simply leveraging the support of the right platform provider, service leaders can rapidly deliver value to their end users, by allowing them to replace their legacy transcription services and recording tools, with more innovative ecosystems. An all-in-one solution can replace a myriad of other complex tools, reducing customer churn and improving retention as businesses scale and grow.
Increasing Value Opportunities with AI
Through the right solutions built in the network, service providers can also go beyond simply providing companies with call recording and transcription tools. On their own, these solutions can be extremely beneficial to a number of businesses, providing them with a convenient way to track compliance and manage recordings. However, they can be made even more valuable with AI.
An all-in-one conversational intelligence and recording system will allow service providers to offer companies access to analytics, which unlock additional customer value. After all, as hybrid working and other trends continue to proliferate, companies are looking for more intuitive ways to manage their distributed workforce. In-built conversational analytics can play an important role in helping businesses support their distributed teams.
At the same time, demand for impressive customer experiences is growing, forcing companies to pay more attention to analytics which offer insight into customer sentiment and intent. Artificial intelligence tools with natural language processing and machine learning capabilities can help businesses to find new ways of improving customer experience and outcomes. They can monitor crucial trends, track customer experiences, and discover new ways to reduce churn.
“In developing our Complaint Moment conversational intelligence, we worked directly with early adopter customers to understand the impact on their business”, comments Dr Iain McCowan.
“They immediately saw the potential to have a more complete and timely picture of their business than traditional logging or surveys could ever produce, unlocking a whole new level of understanding to improve business decisions and inform a more customer-centric approach.”
Perhaps even more importantly, AI-enhanced and secure call recording and compliance solutions built into the network provide companies with an easier way to keep on top of regulatory requirements. Automated alerts and notifications can provide businesses with insights into risks as they emerge, reducing the threats of the hybrid working landscape.
Discovering the Value of Unified Data In the Network
Call recording and analytical tools offer service providers a new way to extract additional value for their customers from within the network, without the need for added cost and complexity. Used correctly, these platforms can be used to assist companies with meeting compliance and regulatory requirements, and reduce the costs associated with managing various disparate tools.
With the right partner, service providers can give their customers a new way to enhance productivity, improve customer service, and reduce risk, all without relying on over-the-top solutions. For today’s service providers, the path to transformation and differentiation starts with services in the network.
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