Contact Center Systems Market Expected to Be Biggest Emerging Market By 2021

Market globalization have enforced businesses to expand their operations across multiple regions and thereby fulfil their consumer demand. Businesses have customer interaction centers where professionals interact with customers and address their enquires on daily basis. Thus, a huge amount of enquires are generated during the conversion of sales between the business and customers. Businesses are finding it difficult to manage these enquires in the form of information and storage of data. Further, due to technological advancement in contact channel, the interaction between the customer and contact center have increased through voice, email and messaging. A contact center system is software based system which enables automatic contact routing facility during high amount of customer enquiries. The contact center system also involves additional services such as voice portal, quality monitoring system, outbound dialers, workforce management, interactive voice response (IVR) and analytical services. This helps contact center professionals to address customer concerns within less time and thereby increase their satisfaction level.

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Services such as IVR and voice portal saves valuable time of contact center through interactive voice based recordings which helps in assisting the concerns of customers. Further, in sales or outbound call center, most of the services such as cross-selling, renewals, cross-selling and satisfaction surveys involves making outgoing calls to customers. Contact center system helps in providing a list of prospective customer contact and maintain them on a timely basis. It also helps in analyzing the quality of call through sending automatic messages to customers in order to scale customer satisfaction. Contact center system also involves recording of voice call and chat history in order to monitor the team performance. This helps to formulate a team strategy with the help of additional analytical insights on customer satisfaction provided by contact center system.

Contact center system requires a huge amount of data storage space as the large amount of data is generated during the process. In order to address this concern, contact center system providers are providing on-premise data center, private cloud and cloud system packages based on the business requirement. The demand for cloud and private cloud system is expected to increase in coming years owing to the low installation cost compared to on-premise systems. These providers offer services on a subscription based model which helps to further decrease the operational cost for businesses. The application of contact center system is anticipated to increase in healthcare, financial services, telecommunication, retail, and government and transportation sector owing to the increasing demand for customer enquires in coming years. The market for contact center system is increasing due to its easy deployment and increase in business agility. However, the risk of loss of credible information due to lack of security features can hamper the market for cloud based contact center system. The demand for contact center system is expected to increase in Asia Pacific and Latin American region as most businesses outsource their operations to third party service providers situated in these regions.

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Some of the key contact center system providers are Cisco Systems Inc., 3CLogic. Inc., Aspect Software, Inc., Genesys Telecommunications Laboratories, Inc., Five9 Inc., Oracle Corp., IBM Corp. and inContact Inc.

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