According to the International Data Corporation (IDC) Worldwide Semiannual Public Cloud Services Tracker, global earnings in the first half of 2023 for the public cloud services industry amounted to 315.5 billion dollars, up 19.1% over the same period of 2022.
Software as a Service (SaaS) applications constituted the primary source of revenue for public cloud services, accounting for almost 45% of the total in the first half of 2023.
Cloud technology in support of Customer Communication Management enables the customer to optimize the creation, delivery and archiving of communications.
Key benefits of CCM solutions Cloud-based
The increasing use of cloud technologies is one of the main drivers of growth in the CCM solutions marketplace.
This is due to the fact that a cloud-based CCM platform is both scalable and flexible – features which are not available with on-premises legacy systems.
Cloud-based CCM platforms offer a wide range of benefits for companies of all sizes. Let’s take a closer look.
- Scalability: cloud-based CCM solutions enable companies to adapt dynamically to changing requirements and manage growing volumes of customer communications. This means they can respond to evolving requirements without the need for incessant– and, above all, costly – hardware upgrades. Scalability is a crucial factor in developing new applications which, in turn, feed into corporate innovation. The option to activate and deactivate innovative systems in just a few seconds enables companies to quickly adapt to a changing marketplace and exploit business opportunities in real time.
- Security: with its capacity for automatic real time upgrades, the cloud offers the potential for enabling important security measures. At the same time, it guarantees the protection of sensitive customer data and compliance with privacy regulations.
- Reduced costs: thanks to the SaaS service model, companies can enjoy greatly reduced initial investment, thus cutting the total cost of their customer communications. What is more, cloud-based CCM solutions enable companies to save on physical infrastructure costs, by doing away with the need to purchase, install and manage servers and other hardware. This enables companies to significantly reduce both their initial investments and the cost of maintaining and upgrading their on-premises IT infrastructure.
- Fast time-to-market: cloud-based CCM platforms are ready-to-go. The implementation of cloud solutions provides immediate activation, eliminates the need for complicated installations, and reduces the burden on IT departments. This means that companies are able to immediately derive value from such solutions.
- Flexibility and elasticity: friction-free integration with existing frameworks makes for immediate adoption and seamless compatibility with established corporate processes. Automatic upgrades ensure access to the most up-to-date functions and security measures. The cloud enables dynamic management of resources, and thus facilitates the integration of important new applications, including generative AI-based content authoring and the use of AI to streamline repetitive processes and reduce process costs.
- Omni-channel management and automation: the cloud promotes the efficient automation of document and communication production and delivery. Companies can send out personalized messages over a vast range of channels without overburdening the IT department and, above all, with the ability to handle peak volumes in a scalable manner.
- Interoperability and operational efficiency: given a single stream of suitably processed and optimized data, a cloud-based CCM platform can integrate with all company communications processes with a minimal impact on IT, by consolidating all communications management processes on a single platform. This enables the company to centralize its processes and minimize the risk of errors and redundancies, thus boosting operational efficiency.
Upgrade your Customer Experience with a Cloud-based CCM platform
A further advantage lies in the opportunities offered by cloud-based CCM solutions for improving the customer experience.
Modern cloud-based CCM solutions enable the use of experiential communication formats like personalized, interactive videos and personalized micro-sites which, employing a data-driven approach, can transform conventional communications into immersive communicative experiences, tailored to the requirements of the individual customer, thus greatly improving the conversion rate of customer journey touch points.
All the above greatly benefits business results in terms of increased earnings from upselling and cross-selling, reduced churn rate of renewals, and also reduces the operational costs of customer management and customer care when such experiential formats are used to communicate complex information, like electricity and gas bill consumption reports, bank statements or insurance policy terms, more clearly.
Furthermore, a cloud-based approach also greatly benefits the overall management of large volumes of data derived from customer interactions with digital communications, which can be used as inputs to AI engines to model behaviors predictively, improve customer relations and place the customer experience at the center of customer communication strategies.
Do you want to discover Doxee’s Cloud-based CCM solution? Visit our website and learn more about Doxee Platform.