Cloud communications is growing substantially, and industry analysts such as Diane Myers of Infonetics are predicting that the worldwide cloud PBX and Unified Communications (UC) services market will reach up to $15 billion by 2019. Up to now, it's mostly been smaller companies who have adopted cloud PBX / VoIP and UC.
We're seeing some interesting patterns, however, and this is the first in a series of blogs that will look at the uptake of cloud communications in vertical segments.
Fact #1 - Did you know that about 20% of BroadSoft seats sold in the US market are to professional services companies? No wonder! According to SelectUSA, the US professional services industry employs 8 million people, comprises of 760,000 firms and generates annual revenues of $1.5 trillion - and that’s data gleaned from 2012 research. The biggest sub-segment is legal services generating $270B revenue, followed by management consulting, engineering services and accounting.
Professional services firms are united by their need for a highly skilled workforce - a prime target for cloud communications. The industry consists of a high percentage of knowledge workers such as lawyers, management consultants, financial analysts, and architects commonly engaged in non-routine problem solving. They are frequently working away from the traditional office in home offices, café’s and airport lounges, and at client sites. Many of the early Millennials, who grew up with social media, collaborative learning and smartphone devices, are now running their own businesses.
From talking to end users in this industry, it’s clear that the cost savings, flexibility, simplicity and mobility options that are inherent in cloud communications solutions are key drivers. The ability to work from anywhere and easily tap a remote colleague’s knowledge, or fulfill their client’s demands to be contactable at all times, is a powerful proposition.
One of our BroadCloud-based service providers has a great example of just such a customer, a creative communications agency who are developing innovative marketing campaigns for their clients. With ambitious expansion plans, the agency needed a solution that would flex with them as they grow their business. A cloud communications solution fits the bill perfectly, as it can adapt and change as they do.
As a young creative company with an office full of Millenials and their Apple products, they also needed a solution that was easy to use and integrated with their existing mobile devices. Our partner understood that this type of user is addicted to their mobiles, and showed them the power of the UC-One Communicator application. The iOS based version of the app lets them easily search, contact, communicate and share creative ideas from their smartphones, and works on their tablets and desktops as well.
This is just one example of many success stories in this industry. Contact us to learn more about other opportunities for cloud communications in this and other vertical markets.
By Paul Rowe, Director Go-To-Market, BroadSoft