Exploring the potential of CCaaS for Private Equity

Authors: Vishveshwara Vasa, Sundeep Jain, Srinath Jagannathan

After a spike in demand for Contact Center as a Service (CCaaS) solutions in 2020 related to high demand for supporting work-from-home agents, the CCaaS market continues to grow at a rapid pace. For private equity, CCaaS provides the opportunity to reduce the dependency and the number of vendor relationships for the entire stack of customer service technologies. 

CCaaS is on the rise across industries
This continued growth is driven by three main factors.

1. The legacy contact center requires replacement of premises-based and server-based contact center infrastructure due to hardware refresh life cycle.

2. The resiliency and higher availability service levels with SaaS-based capabilities.

3. A desire to deliver an agile, elastic, and scalable capability for the telephone channel, as well as the ability to support digital channels including chat, SMS, social media, knowledge, and real-time analytics.

How to harness the power of private equity CCaaS
Private equity firms structure their businesses and assets in portfolios. As a serial portfolio acquirer, private equity firms should develop a repeatable process and a playbook to deal with a buy-versus-build decision once for the functional areas like IT and operations. The focus should be on the new product or service launch, and exponential growth and revenue-driven approach through product outreach.

Private equity firms are likely facing two major challenges today: unpredicted spikes and increased contact volume from the recent product launch and a severe shortage of available workforce worldwide to cater to that demand. Private equity CCaaS is the solution to mitigate these challenges as it is a compliant service to local and global certifications and attestations like personal identifiable information, payment card industry, and protected health information, and can scale up and down including the support for telephony without prior notice, thus elevating customer experience at any stage in an organization’s transition or transformation.

Contact centers have traditionally been a core component of every business; however, the need for a nimble, digital, and SaaS-based solution is always an attractive opportunity. An omnichannel contact center solution that is a cloud-based managed service and leverages the pay-as-you-go model would enable private equity firms to avoid any upfront investments and mitigate all worries about managing infrastructure. It will also enable private equity firms with the three shifts that the contact center market is leaning toward. 

The time for private equity CCaaS is now

Customer expectations for better service experiences are continuing to rise, and changes in technology and workplace dynamics make it difficult to keep up. In summary, private equity CCaaS offers a substantial potential cost-saving opportunity. Leveraging the cloud pay-as-you-go model and increasing efficiencies with an agile and flexible platform caters to the evolving market conditions and business needs.

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