The CCaaS market is highly competitive and it can be overwhelming to choose among the options. Here’s how to start assessing the cloud platforms.
Companies have a number of different options when it comes to choosing a contact center platform. Metrigy’s global Customer Experience MetriCast 2023 market size and forecast study, conducted with 1,695 companies, finds that 32% of companies using a contact center platform utilize Contact Center as a Service (CCaaS). While the majority of contact center agents work off on-premises platforms, the adoption trend is toward CCaaS in that it allows improved flexibility and scalability, the ability to move to an OpEx model, quicker access to enhanced capabilities, deep analytics, and customer insights across digital channels.
The CCaaS market is highly competitive, with providers of varying sizes, capabilities, and reach—some are global, and others are regional. Some providers are large and have broad portfolios and others are smaller, with niche offerings. The options can be overwhelming for companies to choose from as they make the transition.
Metrigy examines the leading CCaaS providers in its CCaaS MetriRank report which should be on companies’ shortlist for evaluation. The criteria that went into the evaluation include:
- Market share, measured by each provider’s CCaaS revenue, is the best measurement of leadership. Market share demonstrates businesses trust and success in using a provider over others, for critical contact center solutions.
- Financial strength measures a vendor’s liquidity, solvency, profitability, and solvency. A strong financial position improves long-term viability and allows a company to stay ahead of the competition by investing in research and development or acquiring technology.
- Market momentum measures each provider’s CCaaS growth relative to the market average. Strong market momentum is an indicator of future market share and a provider’s success in attracting and growing CCaaS customers.
- Customer sentiment is a measurement of how existing customers view an individual provider. Within our study data, companies score their providers across a variety of areas such as technical features, reliability, value, and security.
- Product mix scoring was across a comprehensive set of current features and capabilities of each CCaaS provider. Companies need to know that the providers they are evaluating have core platform features, in addition to new and enhanced ones that allow customers to reman competitive.
- Customer business success scores comes from study data that evaluates the before and after changes in business metrics such as revenue, costs, and customer rating resulting from the use of a given CCaaS platform. This is an indicator of above average business success companies have found using a given provider’s solution.
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