In the last three weeks, we had the opportunity to talk to many of our call recording partners and customers at trade-shows in the US, in Europe and in the Middle East. Although there are regional differences, from New York to Dubai, there are common trends that no one in our industry can ignore. Back from travelling, we sat down and brainstormed.
Fast changing environment
The most significant driving force of today’s IT development, the cloud, has been enabled by an ever more powerful global network. This also enables the adoption of high bandwidth applications such as video and telepresence. The ability to work for and with anyone from anywhere in the world creates the need for better collaboration tools for PCs, tablets and smartphones. Call recording was traditionally limited to a special set of customers, mostly from the finance and government sectors. Specialized hardware is no longer required for professional call recording solutions and the “magic of software” always leads to decreased costs. The potential customer base for these systems has grown significantly. New customer groups come with new and specialized requirements. These are mostly around uncovering the hidden value in their collected data, to tap their corporate memory.
When trying to categorize these technological and market shifts into four main compliance recording trends, we arrived at the following list:
- Video and Telepresence Compliance
- Desktop and Mobile Collaboration
- Corporate Memory
Let’s take a closer look at all categories.
Trend #1 – Video and Telepresence Compliance
Video has been set to be the “next big thing” since at least 2008. Lately, it is getting real traction in healthcare, law enforcement and retail banking. If audio call recording were mandatory for compliance reasons, changing to video does not change the recording requirement.
Our team at Verba deployed many more video recording solutions last year, a step change from previous years and a trend that continues. Here, we enjoy a strong first mover advantage after more than 5 years of investment in our video recording capabilities.
Trend #2 – Desktop and Mobile Collaboration
Most of us use instant messaging solutions with presence and voice capabilities in our private life for more than a decade. Today organizations deploy collaboration tools like Cisco Jabber and Microsoft Lync which formalize and essentially mandate the use of presence, desktop audio/video, web meetings and instant messaging.
The addition of instant messaging recording into our portfolio (next to voice, video and desktop screens) is proving essential for the large corporate deals we see going forward. Our Lync IM recording functionality is already launched. Cisco Jabber recording is around the corner.
Trend #3 – Corporate Memory
Organizations discover that the archive of real-time on-the-job communications of their employee represents an untapped asset. Turning the archive into a “corporate memory” which can be queried on-demand can prove a highly profitable endeavor. Can you imagine what you would do without being able to search your past emails?
We are partnering with speech analytics vendors to deliver state of the art voice search and analytics capabilities to our customers. We believe that being vendor-agnostic provides value for our customers.
Another step toward the ideal “corporate memory” is integration with other business systems. We provide a complete API suite with publicly available documentation to make this easy. Our partners have delivered direct integrations with CRM, call accounting, dispatch systems, corporate directories and more. Automatically injecting references to voice, video and IM communication into Exchange or into your CRM system, not only gives easier access to customer communications, but also saves the organization a lot of time. Think of it as though you had never had to take notes, you just remembered.
Trend #4 – Cloud
It would have been too obvious to start this list with the cloud. Naturally, cloud is the top IT trend these days.
Verba provides a multi-tenant recording solution to many hosted unified communications service providers around the world. These partners deliver recording-as-a-service to their customers. Our multi-tenant solution was launched in 2007, while the largest incumbent call recording vendors still do not offer such solutions. Virtualization can not compete with the provisioning, resource and maintenance efficiency of a multi-tenant compliance repository.
Hosted providers of Cisco, Lync, BroadSoft and other UC solutions can all easily add a new revenue stream by adding recording into their offering.
A window of opportunity in call recording
Currently Verba and our partners are beneficiaries of these trends since our portfolio includes the building blocks needed to deliver on these trends. Get in touch with our team to learn more about these new possibilities.