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6 reasons why cloud-based VoIP delivers immediate value to organisations in the finance sector

The financial sector is wrapped in the most rigorous and extensive regulatory requirements out of any other sector, globally. Restrictions influence every layer of the business and demand due diligence and absolute compliance across every transaction, engagement and system.
John Woollam
John Woollam
The sector is also under pressure to consistently evolve to meet an increasingly demanding and challenging marketplace that’s been spoiled by disruptive diversity. Every organisation is fast and smart, every competitor needs to be faster and smarter. Which is why your systems and processes have to be relentlessly optimised to ensure that you remain ahead of the curve, the pack and the market.

But why would cloud-based telephony be relevant? 

There are six answers to this question, says Euphoria Telecom CEO John Woollam. 

Real time compliance - Cloud-based VoIP solutions offer built-in call recording, which is invaluable when it comes to ensuring that the business is compliant with regulations. Calls are recorded, encrypted and stored in a secure database and are easily accessed by the company when required. This not only ensures that the company is aligned with regulations that impact engagement with clients, but makes any compliance audit far easier. In addition, trusted cloud-based telephony solutions are designed with cybersecurity in mind, providing the business with secure encryption, threat detection and mitigation capabilities, and robust security measures across every endpoint and touchpoint.  

Employee engagement - Customer-facing employees are under immense pressure to perform, now more than ever. Customers expect them to have a clear line of sight into the challenges that they face and provide seamless engagement throughout their experience. Cloud-based solutions provide employees with accessible and capable tools that allow them to work better, reducing their stress and allowing for remote operations for call centres and other business units. With a cloud-based solution, your employees can work from anywhere and still provide customers with the right levels of support. 

Improved productivity - Cloud-based telephony is all about visibility. Digital access to relevant insights gives managers the ability to make more informed decisions around employee efficiencies. Built-in reporting tools help you to see what your call centre agents, for example, are doing all day – how many calls, how long the calls take, how often they take a break and more. This helps you to refine working processes and to unpack any areas that limit productivity or are impacting on employee wellbeing. 

Employee satisfaction - Cloud-based telephony provides you with insights that your teams can use to do their jobs more efficiently. They can adapt their approaches, provide more effective customer support and engage with customers with greater scope thanks to the insights that the systems provide. Time and attendance functionality helps you to manage remote workers, meaning employees can work from anywhere they need to, with the benefits this brings. 

Real time efficiencies - The insights provided by a digital telephony solution can be used to analyse and leverage call outcomes in campaigns at speed. Unlike the weighty, traditional solution, telephony that rests in the cloud gives you tangible insights into how your outbound calling campaigns are performing, in real time. Using the analytics provided by the dashboard, you can assess the outcome of any given call and use the information to steer your approaches and campaigns on the fly.  

Measurable cost savings - There is one thing that every company wants right now – to optimise costs. Saving on spend is always a priority and this is where cloud-based telephony steps up to the plate and delivers. There’s no need for additional hardware or extensive upgrades when you need to scale to meet demand, just add extensions when times are busy, remove when times are quiet. It’s that simple. You also don’t need to invest into on-site technicians or ongoing maintenance. You just choose the solution you need for right now and adapt it as you grow. Simple, cost-effective, and relevant. Additionally, there is no need to be locked into a long-term contract. Cloud telephony solutions are available on a month to month basis, so if you don’t get the value and service you expect, you can move to another provider without paying penalties or waiting years for contracts to conclude.

Euphoria
Founded in 2010 Euphoria Telecom are the providers of South Africa's leading cloud-based business phone and contact centre solution.

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