Join our host, Tim Sheedy, VP Research at Ecosystm, as he engages in a captivating conversation with two esteemed industry experts, Adam Seyer, Head of Engineering – APEX at Grab, and Xav Desmet, Head of Enterprise – Asia at Zoom. Together, they share invaluable insights and strategies that pave the way towards a flourishing workplace.
In this episode, you’ll delve into the fascinating world of enhancing employee experience through collaboration platforms, eliminating team friction points, and empowering employees with cutting-edge technology. Discover the secrets of these visionary organizations as they make strategic investments in the future to create a workplace that nurtures innovation and productivity.
Whether you’re a business leader, an HR professional, or someone passionate about improving employee well-being, this episode is a must-listen. Join us as we unlock the keys to building a thriving workplace and gain practical wisdom to navigate the challenges of the modern work environment.
Podcast: Play in new window | Download (Duration: 19:44 — 6.4MB)
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Leaders Roundtable: The Need for a Collaborative Healthcare Strategy: Why you must focus on ease and efficiency
It has seen rapid tech adoption, shifts in business processes and changes in the mindset of the clinicians, administrative staff, and patients.
The most overwhelming impact on the industry has been the widespread acceptance of virtual care/ telehealth. In Australia, between March 2020 and February 2022, nearly 96 million telehealth services were delivered to almost 17 million patients; and more than 91,000 clinicians used telehealth services, according to the Australian Digital Health Agency. With virtual care increasingly becoming mainstream the healthcare system is on the verge of realising the benefits of a collaborative healthcare model.
Have you as a healthcare business or as a clinician adopted virtual care? What are the challenges that you continue to face when delivering care remotely? How can you improve patient experience when delivering healthcare using a hybrid model – in-person consultations supplemented by virtual visits?
Join us and your industry peers for this Executive Leaders discussion where we will discuss the biggest challenges facing healthcare delivery today; how patient and employee expectations are shaping the future of healthcare; and the need to keep virtual visits simple and seamless.
The first impact of the pandemic and the disruption it caused, was organisations scrambling to empower their remote employees. Over the last 2 years, significant investments have been made on collaboration platforms and tools. Now organisations are having to work towards making these workplaces truly hybrid where organisations have to ensure that all employees get the same experience, irrespective of where they choose to work from.
In 2022, organisations will continue to invest in building the Digital Workplace and address the associated technology, people, and process challenges.
Read on to find out what Ecosystm Analysts, Audrey William, Tim Sheedy and Venu Reddy think will be the key trends for the Digital Workplace in 2022.
Click here to download Ecosystm Predicts: The Top 5 Trends for the Digital Workplace in 2022 as PDF
An Update (1 October 2021): This acquisition did not go through even after the boards of directors of both companies had approved it. It was voted down by Five9 shareholders, citing growth and valuation concerns. This is an unusual example of an acquisition not going through because of unwillingness of one of the companies. In recent times, regulators have stopped some acquisitions. Incidentally, there were some concerns raised by the by Federal Communications Commission (FCC) as Zoom is based in US. but has product development operations in China.
The partnership arrangement between the two companies will continue including support for integrations between their respective Unified Communications as a Service (UCaaS) and Contact Centre as a Service (CCaaS) solutions and joint go-to-market initiatives.
Zoom has announced their intention to acquire cloud contact centre service provider Five9 in an all-stock deal for about USD 14.7 Billion. This is Zoom’s largest-ever acquisition as the communications platform continues to expand their services and launch new products. The deal is expected to be completed in the first half of 2022 and Five9 will be an operating unit of Zoom.
The last year has seen Zoom scaling up their product offerings, including cloud calling solution – Zoom Phone, conference hosting solution – Zoom Rooms, and applications and productivity tools – Zoom Apps and Zoom Marketplace. Zoom also acquired real-time translation startup Kites GmbH to offer multi-language translation capabilities, and Keybase – a secure messaging and file-sharing service to build end-to-end encryption for its video conferencing platform.
Ecosystm Analysts share their thoughts on Zoom’s strategy and roadmap, how Five9 will augment Zoom’s capabilities, and the impact the acquisition will have on Zoom’s competitors and the market.
Why Contact Centre?
Ecosystm Principal Advisor Tim Sheedy says, “Zoom is moving beyond its period of ‘organic hypergrowth’ brought on by the pandemic. While the paying customer base for their core video collaboration service will continue to grow, growth rates are likely to begin to track the market. To grow beyond market rates, Zoom needs to move into new markets – through product development or acquisition.”
Talking about the importance of voice services, Sheedy adds, “Voice services are an obvious adjacent market to help drive growth, and Zoom already has seen some success with their Zoom phone service and associated devices – in fact, they already have 1.5 million users. The Five9 acquisition gives the company a stronger and deeper capability in the voice sector; buying them a significant chunk of the voice services in business – the contact centre. In many businesses, the contact centre already accounts for over 50% of their voice minute usage, so winning this space will go a long way towards winning the overall voice and collaboration supplier in enterprises.”
Ecosystm Principal Advisor Audrey William predicts exciting times ahead for Zoom. “With Zoom already having a platform for video, then bringing voice into that equation and now a contact centre solution, makes them take on their competitors in an all-native cloud stack. There is a still a large installed base of on-prem UC customers and with Zoom seeing success with Zoom phones in the short time frame since its launch, this is where this will get exciting for Zoom. The telephony piece is still important in the race to simplify how we work, communicate, and collaborate today. It is that same voice/telephony discussion that can lead to a routing discussion, which then leads to a contact centre discussion.”
Ecosystm research shows that 54% of organisations are challenged in their customer experience delivery because of integration issues between multiple platforms. William sees this as an opportunity for Zoom. “The use cases to integrate workflows into the video environment is going to be important for Zoom. Video is now being used to solve customer service issues like letting the agents take over the screen to see how to help solve the customer problem immediately by using video and contact centre applications. The ability to bring this natively together will be very powerful. Zoom is investing heavily into apps and working to partner with ISVs who can develop workflows suitable for easy customer communication in specific industries such as Healthcare and Financial Services.”
Why Five9?
Five9 is considered a pioneer in cloud contact centre solutions and owns a comprehensive suite of applications for contact centre delivery and customer management operations across different channels. Five9 has made several acquisitions and enhancements to their CCaaS solution in recent years to make their stack more complete with richer AI offerings. They include Inference Solutions to offer their customers a Conversational AI solution and Whendu’s iPaaS platform which provides a no-code, visual application workflow tool.
William says, “More contact centres want to do away with monolithic IVR systems that confuse customers with too many long menus. The Agent Assist solutions are also gaining importance especially in the hybrid work model where agents face challenges working in isolation and not being on a floor with their colleagues and managers.”
Five9 has acquired a cloud workforce optimisation provider Virtual Observer. “So, we are not looking at just a basic level contact centre solution but an offering with important capabilities demanded by customers,” says William. “During the investor call this week, Zoom’s Eric Yuan and Rowan Trollope made it clear that they have been listening to customer feedback on how effective it would be to have a single platform that can accommodate UC and contact centres in the cloud. Zoom also sees Five9 as a good fit culturally; and their goal now will be to disrupt all legacy systems with cloud-native communications.”
What lies ahead?
William thinks that Zoom’s competitors will be watching this integration closely, especially those that lack an all-in-one native cloud UCaaS and CCaaS stack. “However, some of Zoom’s competitors have an established base of large enterprise customers and have done well to grow revenues and defend their base over the years. Working with in-country partners and ISVs will be critical for Zoom’s growth across regions.”
Sheedy thinks that the most important takeaway from this acquisition is not that Zoom is moving into the contact centre space. “It is that Zoom realises they have a “once in a generation” opportunity to grow beyond their core and cement their position as a supplier of collaboration and communication services – and that they are willing to flex their balance sheet and share price to create their future. The competition – from Microsoft in particular – will be strong. Google, AWS, Salesforce, and Facebook are also making a play for this market. Zoom has found themselves in their current position of strength due to good luck and good timing – and they appear to be telling the market that they aren’t going to give up their leadership without a significant battle.”
“Enterprises will be the true winners in this battle – with better, more integrated, lower cost and easier to implement communications and collaboration solutions for their employees and customers,” adds Sheedy.
