A study, commissioned by imimobile, to evaluate the ROI on CPaaS systems installed in enterprises finds that there is a 330% return, even with costs, saving a business as much as $1.2m.
The research, conducted by Forrester, which is based on the economics of using imimobile’s CPaaS platform conducted interviews with two organisations that invested in imiconnect as a key part of their IT infrastructure, which formed the basis of its Total Economic Impact framework. This framework was then used to identify the cost, benefit, flexibility, and risk factors that affect the investment decision in order to evaluate the overall impact that the imiconnect platform can have on an organisation.
In addition, the study highlighted three business critical advantages. First, time to create and manage customer communication journeys reduced from days to minutes. Previous communication management platforms required one week’s time to compose and manage customer journeys. The scale and low-code tools that imiconnect provides reduced this effort to a couple of hours of FTE time, resulting in more than 50% increase in productivity efficiency.
Secondly, scalable SMS and mobile communications improved onboarding processes. With imiconnect, customers interviewed were able to automate the onboarding process and know your customer (KYC) information flows through SMS communications. The platform improved onboarding processes for 3.5m new customers per year, which in turn represented a $1.2 million saving in both productivity and costs.
Finally, improved self-service capabilities increased efficiencies in customer support functions. SMS and WhatsApp capabilities provided end customers with easy and pervasive access to fulfill simple services in a self-service manner, and choice of communication channel dependent on the service request – reducing customer inquiries to the contact centre.
“We believe this Total Economic Impact study from Forrester not only validates the return on investment for our imiconnect platform, but also shows the value of an Enterprise CPaaS approach that provides a choice of low code tools and APIs to create better customer interaction experiences,” says Jay Patel, VP & GM, Webex CPaaS “Customer experience is an increasingly important area of business focus for today’s organisations, and we feel this study gives a clear framework for why Enterprise CPaaS solutions can be the right answer – how they can help organizations integrate with existing systems to quickly deploy end-to-end customer journeys across multiple channels, reducing costs and increasing operational efficiencies.”