The CPaaS market is projected to reach a valuation of USD 45.3 billion by 2027, registering a CAGR of 29.4% over the next few years. (Unknown, 2023) CPaaS solutions drive business growth and enterprises are adopting these solutions to offer improved customer services and enhanced client engagement.
Many companies that use CPaaS send users appointment reminders, push notifications, order tracking alerts, and purchase confirmations. CPaaS solutions like chatbots are used to provide speedy responses to customer queries and enterprises enjoy the ease of access to omnichannel communications.
CPaaS APIs give developers the flexibility to integrate real-time communication modes like voice and video into apps without building special backend infrastructures and interfaces. A key disadvantage despite its myriad benefits is the impact on security. This area of focus is increasing and CPaaS vendors are working on incorporating the integration of 2FA and MFA traffic streams.
Cybersecurity is a high priority for organizations and OTPs received through messaging channels are used for verification purposes, as well the transmission of sensitive information. Successful CPaaS providers provide in-house cybersecurity solutions and advanced fraud detection analytics that monitor telecom traffic and filter spam messages.
New-age consumers want a direct line of communication with service providers and CPaaS helps match their changing expectations by sending and receiving messages in real-time. It helps analyze customer sentiments, provides seamless integrations, and enables businesses to track consumer engagement across multiple channels.
With better data tracking, automation, lead management, and conversion tracking, business owners will have a convenient time generating leads and converting them to sales.
The CPaaS+ infrastructure enables business communications with features such as automated customer service and sales support, web chat, SMS, and voice assistance. Chatbots are included and they can be programmed to understand a wide variety of customer requests and thanks to Natural Language Processing (NLP).
According to a Frost and Sullivan study, more than 67% of organizations plan (Scott, 2022) to increase their investments in CPaaS offerings and whitepaper collaboration between Juniper Research and Global Newswire (AB, 2018) found that it’s just not startups, but many UC companies and native tech organizations are adopting these solutions too. CPaaS solutions offer a lot – REST APIs, documentation, chat forums, sample code snippets, SDK kits, and more. US companies expect to spend over USD 3 billion on CPaaS API management and the CPaaS market is expanding as we speak.
Top-performing firms agree that APIs are a great way to grow businesses and CPaaS can unlock new features in communication stacks without completely replacing them. A big driver in CPaaS adoption is that it makes up the heart of digital transformations, improving connections between people and technologies. Customers want online engagement and CPaaS streamlines this by being readily available
at their service 24/7. (Saleh, 2023)
How Enterprises Can Prevent Fraud Using CPaaS Platform
Consumers can get real-time alerts and notifications about the content being streamed and not miss any updates. CPaaS can help prevent fraud by using messaging analytics and advanced AI detection to
better and understand various security and privacy issues in today’s digital landscape. Many businesses
are under pressure to adapt and do not want to compromise on security when scaling up. analyze consumer sentiments in networks. It can help companies make regular threat assessments CPaaS makes security management easier by keeping users up-to-date with in-depth reporting, access control policies and standards, and multi-factor authentication for an added layer of verification. It can proactively send alerts to customers and advise them on how to reduce their risk levels online and stay protected against different threats. Many data breaches are caused by users giving out sensitive information unknowingly and CPaaS is an excellent way to mitigate such cases by restricting communications, providing end-to-end visibility, and setting up strategies for future risk reduction and real-time fraud prevention.
How CPaaS+ Can Improve Business Communications
CPaaS+ offers highly personalized interactions by routing customers to the right agents. For businesses, this means having contextual conversations and not wasting time giving the wrong assistance. The benefits of CPaaS go far beyond embedded communications and CPaaS+ can help create customized workflows to overcome issues with convergence. Multiple industries are being supported by CPaaS+
these days and tourism, public services, transport, healthcare, home automation, logistics, aerospace, research, and engineering are among some to list a few. One of the most popular use cases of CPaaS is to set up appointment reminders and schedule delivery notifications for customer surveys and payments.
CPaaS solutions also offer exclusive number masking solutions which allow users to protect their privacy during communications and make them impossible to be traced. Number randomization, tokenization, and number blocking are other features integrated with mobile apps and web services. Modern CPaaS service support and provide better data tracking, analysis, automation, lead management, and conversion tracking.
What GTS TechLabs Can Do for You
Our CPaaS+ infrastructure automates customer sales and service support and uses a blend of Natural Language Processing (NLP) and Machine Learning (ML) to understand a wide variety of tasks and provide appropriate responses to clients around the clock. Chatbots included can be programmed and integrated with various messaging apps, web chat platforms, voice, business systems, and products,
and be used for finishing transactions and answering frequently asked questions. Hosted contact centers in CPaaS+ provide a host of features like cloud-based automatic call distribution (ACD), WebRTC support, IVR, and call routing. The No-code flow builder in CPaaS+ also empowers businesses to create custom communications solutions with minimal technical skills and allows enterprises to design and deploy communication workflows like chatbots, voice call, and webchat flows, SMS campaigns, etc.
The campaign management tools allow enterprises to target specific demographics, track performance in real time, and find out the effectiveness of their social media strategy. CPaaS+ also offers network-level recording which allows users to easily record, store, and access communications data for easier compliance, training, and quality assurance across various communication channels like VoIP, PTSN, and other messaging platforms such as WhatsApp. There are numerous more benefits to using our CPaaS+ and enterprises can enjoy improved visibility, centralized dashboards, revenue enhancement and messaging monetization, communications security, and much more by taking advantage of it.
AB, S. (2018, February 20). Enterprise CPaaS Spend Set to Quadruple to $6.7bn by 2022, Estimates Juniper Research. Retrieved from Global Newswire: https://www.globenewswire.com/news-release/2018/02/20/1361605/0/en/Enterprise-CPaaS-spend-set-to-quadruple-to-6-7bn-by-2022-estimates-Juniper-Research.html
Balasubramanian, V. (2022, December 8). How to Uncover and Prevent Telecom Fraud on CPaaS
Platforms. Retrieved from Forbes: https://www.forbes.com/sites/forbestechcouncil/2022/12/08/how-to-uncover-and-prevent-telecom-fraud-on-cpaas-platforms/?sh=6aae68455c95
Saleh, R. (2023, January 26). How Telcos Are Leveraging CPaaS To Revolutionize Customer Relationships. Retrieved from Infobip: https://www.infobip.com/blog/how-telcos-are-leveraging-cpaas-to-revolutionize-customer-relationships
Scott, R. (2022, September 30). CPaaS Statistics And Facts For 2020. Retrieved from UC Today: https://www.uctoday.com/unified-communications/cpaas/cpaas-statistics/
Unknown. (2023, March 6). Communications Platform As A Service Market. Retrieved from MarketsAndMarkets: https://www.marketsandmarkets.com/Market-Reports/communications-platform-as-a-service-market-195778981.html#:~:text=The%20communication%20platform%20as%20a,factors%20driving%20the%20market%20growth.