The Total Economic Impact™ Of Five9

Cost Savings And Business Benefits Enabled By Five9

Executive Summary

As contact center volumes increase, so does complexity.1 Add to this the shift to remote working and the challenges with the labor market, and companies need AI-powered solutions, workflow automations, and multichannel interactions (e.g., chat, SMS, email). This supports their teams, allows them to scale, and enhances their customer and employee experience. Without these capabilities, businesses will miss opportunities to drive successful business outcomes.

Today’s customers expect easy, effective customer service that builds positive emotional connections.2 They also want frictionless self-service experiences; choice of when, where, and how to contact the brands they want to engage with; and a personalized customer experience. To accomplish this, a large percentage of customers need support from contact center agents.3 Businesses today need integrated suites that overlay customer interaction management, support self-service, use embedded AI, connect disparate data sources, and enhance workforce engagement to deliver the seamless service customers expect. In order to achieve this, businesses today are leaving behind their legacy systems to adopt cloud contact center solutions.

Five9 provides an enterprise-ready cloud contact center platform that enables hybrid customer service by bringing together a distributed workforce across voice, digital, and synchronous and asynchronous channels. AI is embedded into Five9’s core platform through its intelligent virtual agent (IVA) as well as Agent Assist technology, helping provide a faster, more seamless customer support experience and a more manageable operational footprint. The real-time insights provided through the Five9 platform help companies optimize staffing and handle things like seasonal volume needs without having to pay for unused licenses.

Five9 commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying Five9.4 The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Five9 on their organizations.

To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed four representatives with experience using Five9. For the purposes of this study, Forrester aggregated the interviewees’ experiences and combined the results into a single composite organization that is a healthcare organization servicing 15 million calls annually.

Prior to using Five9, interviewees noted how their organizations’ on-premises contact center solutions were unreliable and suffered from numerous outages. IT teams focused on managing issues rather than other value-add tasks; agents sat and waited for the system to reboot; and customers couldn’t get the help they needed. These on-premises systems were resource-intensive to manage and harder to integrate with the customer relationship management (CRM) systems. The lack of AI and automation meant that agents spent time on repetitive, lower-value calls, and lacked easy access to resources to resolve customer issues quickly and effectively. Legacy systems didn’t allow flexibility in staffing to support call volume variations as business needs changed.

High-Performance Computing Becomes Mainstream
Given the current increase of large records-primarily based research and analysis and cloud-based computing, I expect high-overall performance computing utilization to surge in 2022. From drug discovery to most cancers studies to space exploration, excessive-overall performance computing becomes increasingly more essential and quantum computing generation desires to keep up with enterprise call for.

We’ve already seen big development in quantum computing space by using gamers which includes Google, IBM, Microsoft, Amazon, and Alibaba. Startups including Rigetti Computing, D-Wave Systems, ColdQuanta,1Qbit, Zapata Computing, and QC Ware have passed the enterprise expectancies of their era and their increase.

I expect speedy development in quantum computing for the duration of 2022, because of the excessive demand for large device strength goes to accelerate development in this region. We’ll probable see announcements of huge qubit developments within the new 12 months. Commercial quantum computing will soon be inside our attain and new breakthroughs will occur at an increased pace.

Continued Growth in Artificial Intelligence, Big Data Analytics, and Cloud Computing
AI has end up an critical a part of our life. From the improvement of better personalization, ranking search results, recommending products, understating, and controlling of devices, building higher fashions of the surroundings to the automation of industry, we see the application of synthetic intelligence everywhere as we appearance towards 2022.

Organizations are the usage of predictive analytics to forecast potential destiny tendencies. According to a file posted with the aid of Facts & Factors, the global predictive analytics market is growing at a compound common growth fee of round 24.Five% and is expected to attain US$22.1 billion via the cease of 2026.

We can even see big boom in cloud computing. By 2022, cloud can be greater entrenched and greater computing workloads run on the cloud. Internet of Things will push this area in a bigger manner for positive. According to predictions from Gartner, global spending on cloud offerings is expected to attain over US$482 billion in 2022, up from US$314 billion in 2020.

Internet Security and Privacy Dominate
As the world will become greater digital, we’re seeing extended wide variety of private and organizational cyber-assaults round the sector. Several organizations had been the target of fundamental cyberattacks in latest days and agencies have end up extra susceptible to negative attacks, in component due to increased far off paintings due to the pandemic.

During 2022, I count on that we’ll see cyber-assaults across sectors, and we will see the industry take a diffusion of counteractive measures. Defending cyber-attacks will include instructing individuals which will identify and avoid community assaults, thereby safeguarding their business enterprise’s photograph.

Applying AI will make the creation of strong cybersecurity protocols easier, much less high-priced, and more effective than ever. Use of AI can enable cybersecurity to spot risks and examine the behaviors of cybercriminals, hence preventing save you destiny attacks. It can also help reduce down on the time it takes cybersecurity specialists to do their each day obligations.

The Metaverse will Shine in 2022
The metaverse is a digital truth combining social media, on-line gaming, augmented reality, virtual reality, and cryptocurrencies to permit digital consumer interaction. The metaverse may also confer with whatever at the Internet, along with all of AR’s offerings. Virtual space of the destiny describes the metaverse, providing access to all sorts of leisure and tasks, consisting of the possibility to paintings.

We count on the metaverse to be immersive, ubiquitous, and loose to get admission to. It can be digitally targeted and doubtlessly entails amusement, social connection, paintings productiveness and behavior change at scale. It will create an entire surroundings for builders, apps, commercials, and new digital improvements. The metaverse will facilitate convenience, intake, and a frictionless get right of entry to to offerings.

Only some organizations these days have a real stake inside the metaverse. They include ByteDance, Tencent, Facebook, Spotify, Zoom, Amazon (Twitch), Alibaba, Roblox, Bilibili, Snapchat, Kuaishou, and Huawei. Apple’s wearables also point to the metaverse with AR glasses coming soon. Microsoft with Microsoft Teams and gaming is possibly the maximum superior corporation in the world regarding the Metaverse. WeChat’s capability to facilitate bills and get admission to to a ramification of offerings is the begin of the metaverse, incredible-apps.

As the metaverse environment grows in 2022, I assume it will have an immediate impact at the future of many technology sectors. These consist of gaming, wearables, VR and AR, collaborative productivity (Canva, Slack), consumer tech products (which include AR glasses or smart speakers), social networks, instructional technology, fitness era, communique era (Zoom), virtual currencies, and convenience mobilization and on-call for consumption (Amazon, Meituan, Alibaba, JD.Com, Shopify).

NFT Platforms will Boom
A non-fungible token (NFT) is a digital item: Computer code and facts that conveys ownership of something. The belongings can be on-line, as an instance, digital real estate in the virtual international or unique equipment in a online game. Or it is able to be real: Real property, a portray, or a place at the live performance. An NFT also can be a hybrid, as an example, the right to determine who can rent a room in a cooperative residing space. A baseball card, Ronaldo’s first ball, a antique car, or a bit of land in critical London: All are one-of-a-kind and can be transferred to the NFT.

In 2022, we’re possibly to peer NFTs everywhere; this includes in films, TV suggests, books, and more. NFTs are a part of the digital financial system and are becoming mainstream because they permit people to personal some thing that represents part of some thing bigger than themselves – a bit of art or a person, as an example. The virtual economic system is made up of a diffusion of on line markets – consisting of recreation economies, virtual real property, and even social media platforms like Facebook.

Our society has changed unexpectedly over the past decade, mainly since the 2008-2009 economic crisis and the more latest pandemic. These tendencies are coming collectively to shape a global in which NFTs will beat traditional collectibles, making 2022 a super 12 months.

Robotics Sector will Become More Prevalent
We count on to see an elevated use of robotics in normal existence during 2022. Usage will include the healthcare, agriculture, automobile, warehousing, and supply chain management sectors, and we can see extra robotics-primarily based automation with the intention to continue to progress.

The Covid-19 pandemic offers both problems and opportunities for robotics corporations within the logistics and supermarket industries. Unexpected traces on supply systems and product shortages have highlighted the want for higher deliver chain efficiency. It also became apparent that robots and automation supplied a safe means for manufacturers to maintain personnel socially separated but permit the business to preserve operating.

The use of robotics procedure automation (RPA) helps automate activities which can be finished again and again; we anticipate RPA to grow in 2022 and come to be a trendy technology for commercial enterprise. CIO reviews that chief data officials are the use of RPA to unfastened people from uninteresting, repetitive tasks and permit them to do greater fulfilling work. Finally, we’re seeing a rise in nanorobotics, tiny sensors with confined processing energy. The first beneficial applications of these nano-machines may be in nanomedicine. Biological machines, for instance, are used to identify and ruin cancer cells or supply capsules.

Increased Urgency in the Renewable Energy Technology Sector
Climate change and dramatic news headlines are driving fast growth in sustainable power adoption. During the pandemic, this was the simplest energy sector that grew. According to the International Energy Agency (IEA), 40% greater inexperienced strength become generated and used in 2020; the company expects endured increase in 2022. The falling charges of producing sustainable electricity also helps make certain that mass adoption is in all likelihood. While more recent strength technologies like nuclear fusion, biofuel, and liquid hydrogen may take longer to come back complete circle, we look ahead to extreme improvements in 2022.

I additionally anticipate to see large increase inside the manufacturing and usage of sun and wind era. Storage (battery) technologies are gambling a bigger position, considering there can be an improved want to shop renewable strength.