Intelligent Contact Center Powers Five9 Record Earnings
by Nicole Speciale
On August 6th, Five9 announced record earnings for Q2, which showed a growth of 28% since Q2 of 2017. The press release reported that revenue for the second quarter of 2018 increased to a record $61.1 million, compared to $47.7 million for the second quarter of 2017. This demonstrates how the evolution from Cloud Contact Centers to Intelligent Contact Centers (ICCs) is poised to increase demand and growth for Five9.
The Evolution of Contact Center
The transformation of Contact Center is heavily backed by the introduction of Artificial Intelligence (AI) into the platform. Consumer expectations are also driving these changes and they are evolving faster than enterprises are able to respond.
Consumers also expect personalized and consistent experiences, which is challenging for Contact Centers to provide when they lack the technology to bridge the gap between agents and consumers. Natural Language Understanding (NLU) and sentiment analysis are being applied so that agents have as much information and insight to adequately address customer concerns. All of these benefits of shifting toward Intelligent Contact Centers are powering customer journeys to new levels and helping maintain customer loyalty in an age where it is rapidly dwindling.
Five9’s Cloud Success: AI Is the Next Engine for Growth
In May 2018, Five9 announced Five9 Genius—its foray into Artificial Intelligence—and the launch of what Aragon refers to as Intelligent Contact Centers. At the time, Aragon felt that the AI move would help position Five9 for the future.
Five9 also recently announced a partnership with Google. Five9 Genius will leverage Google’s Contact Center-focused AI capabilities that include an AI-powered virtual agent, as well as human agent live assistance. Five9 is not the only Contact Center provider making this move, as others are following suit by adding intelligence to their offerings.
The Future for Five9
Rowan Trollope, CEO of Five9, will continue to lead Five9 to success in creating an Intelligent Contact Center capable of self-learning, delivered via the cloud. This is the future of Contact Center, or what we are now calling the Intelligent Contact Center. Artificial Intelligence is making waves in Contact Center and other providers are catching on. Soon, offering AI-based technologies like NLU will become a basic capability for providers and an expectation of consumers.