It’s a bumpy road for the financial services industry. MiFID II is just around the corner. By January 3rd, businesses need to ensure compliance with the upcoming regulations as they drive into the new technological era of customer interaction. As the global industry shifts towards a more flexible and mobile work environment, challenging terrain lies ahead that businesses need to meet head-on.
For the 8x8 Communications Cloud, this new landscape is its perfect habitat. The 4x4 Land Rover of its industry, only with twice the power, the 8x8 Communications Cloud brings business continuity, reliability, and mobility whenever and wherever you go. With its truly unified communications cloud, system, cross-team collaboration is made easier than ever to ensure the wheels of your business keep turning in the right direction.
At the heart of its engine, the Communications Cloud is powered by intelligent real-time communications analytics that allows your team to harness actionable insights and improve performance, spot problems early, and seize opportunities across your organisation. So now you can enjoy the ride as you take your business to places you never imagined.
Let’s take a look at some of those places and learn why the Communications Cloud, is the solution to get you there.
Smooth out the speed bumps with real-time analytics
Driving your business without real-time analytics is a bit like using an A-Z road map in your car. You have a rough idea of the quickest route, and glorified guesses might mean you’re right half the time, but ultimately, traffic and unexpected delays are going to make you wish you’d taken an alternative course. Real-time analytics, on the other hand, is the modern GPS sat nav on today. The Garmin Drive Smart or TomTom Go of the insurance world, providing fast updates and course corrections for the most effective route forward.
As insurers rush to find competitive advantages in big data, many are devoting considerable resources to predictive and prescriptive analytics systems that aid organisations in more accurately evaluating and pricing risk. The ability to monitor risk and customer behaviour, and to take actionable steps in real time, is leading to improved underwriting and pricing of current products, as well as new models of selling insurance based on monitored use and a steady stream of information. These developments are present not only in the world of insurance but across all industries.
The push for real-time data analytics has been driven by two significant technological developments:
- The rapidly evolving Internet of Things (IoT) and the growing network of connected devices.
- Advancing capabilities that allow firms to analyse and process high-velocity data.
8x8 is at the core of this technological communications revolution. To ensure you don’t start down the road of making uninformed, fact-less decisions, the Communications Cloud helps you generate powerful insights so that you can make fact-based decisions that will drive your topline strategy and improve your business costs and efficiencies.
The analytics suite for business telephony delivers sophisticated, yet easy-to-use, customizable insights into the historical and real-time information associated with all extensions and devices inside an organisation. This helps you understand your aggregate business performance to improve productivity and analyse the behavior of queues, ring groups and service performance in general (Mean Opinion Score, geo-location maps, end points, site and user quality).
Aside from the administrative and customer benefits that real-time data can reap for businesses, this data is opening up a whole new market, creating new products and offerings. One area that’s gaining particular prominence is usage-based insurance, in which customers pay an insurer based on the time they engaged in the insured activity. Of course, accurate, real-time updates about usage are the foundation of this model and real-time analytics make that vision possible.
Better connected, better traction
The ability, or inability, to provide digital insights easily to all employees could mean the difference between tremendous growth or stagnation. With global communications flows displayed in an easy to read dashboard that can be shared throughout your organisation, ensuring everyone from the CIO to the Customer Service Rep, is hitting the apex on data analysis and business objectives. When everyone is aware of the big picture, your organisation moves into the fast lane towards making smart decisions that maximise results for sales teams, contact centre's, and other departments.
One of the biggest challenges in business today is to connect increasing numbers of remote workers. With more employees going off-road taking their work away with them and a rise in hot-desking, this "uberization" of the work environment has spawned a demand for unified communications (UC). Helping to connect remote workers under the same global communications system around the globe, the Communications Cloud is accelerating business productivity and bringing greater job satisfaction to the workplace.
Disaster recovery breakdown insurance
To continue the car metaphor, let's think of 8x8’s Call Centre Disaster Recovery as the AA (Automobile Association), only better because this cloud service doesn’t make you wait in the rain. Ensuring business continuity in a disaster is significantly magnified when it comes to call centres. Whether your agents are fielding incoming sales calls or customer service inquiries, you don’t have to be Richard Branson to know that customers who can’t reach you won’t be customers for long.
The Contact Centre Continuity solution ensures the availability of your mission-critical call centre operations – without doubling your costs. With flexible and comprehensive features, you can be sure that in the event of a natural disaster, regional pandemic or human-error-related outage, for your customers it’s “business as usual”, and potential customers will be connected and served, perhaps while your competitors are wheel-spinning in the dirt to get back online.
For global insurers, digital transformation is rapidly becoming a top priority on senior leaders’ strategic agendas. New competitive threats, ongoing cost pressures, ageing technology, increasing regulatory requirements and generally lacklustre financial performance are among the forces that demand significant change and entirely new business models. Insurers who are slow to embrace digital transformation will forever be in the rearview mirror of those that move faster, more precisely and with greater purpose toward specific objectives and an ambitious strategic vision.
Communication Cloud's intelligent, interoperable, and integrated Unified Communications Cloud Telephony, is the fuel for business growth. Whether connecting employees around the world, harnessing actionable insights from real-time communications analytics or ensuring the wheels of your business keep turning in the event of a disaster, 8x8 will put the ‘Vorsprung durch Technik’ back into your business.
Talk to us today to find out more about the Communications Cloud, and why its is trusted by more than 1 million business users worldwide.