The Call Recording Market is Booming says Tollring
Cloud and on-premises endpoints grow 222%
In a world where information and data are crucial, call recording isn’t just a compliance consideration anymore. Today’s companies are accessing call recording solutions because they need to provide their agents with better context, and their customers with more relevant experiences.
Tollring, one of the market leaders in the call recording, data visualisation, and business intelligence market, is helping companies of all sizes to leverage their critical data. Lately, the organisation has achieved fantastic results thanks to its diverse portfolio, which covers everything from fraud management, to call analytics and recording.
Today, Tollring has sold more than 3 million cloud and on-premises licenses/endpoints across the world, representing product growth of more than 337% in the last year. I spoke to CEO, Tony Martino, about why he thinks call recording is an area that provides such phenomenal growth.
How Has the Marketplace Evolved Lately?
At UC Today, we’ve noticed an evolving trend towards companies focusing more heavily on experience in all of its shapes, from user experience to meaningful customer moments. I asked Tony how he believes this trend is shaping the call recording market.
“We’ve been delivering call recording for many years now. It’s been around for such a long time because it’s an essential part of the UC proposition. However, it’s now evolving. We can do so much more with the information that we collect through call recordings.”
Tollring has experienced growth in their iCS online endpoints of 76% in the last year. Additionally, overall cloud and on-premises call recording endpoints/licences have grown by 222% as more service providers embed recording into their bundles. Because of this, Tollring believes that voice remains to be the most essential method of communication, and call recording is critical to making the most of voice.
How is Call Recording Becoming More Advanced?
According to Tony, the call recording market is starting to see the introduction of various fantastic new features, particularly thanks to the rising popularity of APIs. “I think APIs are an important part of being able to deliver value through call recording. It means that people can take information out of our suite and make sure it fits into their solution.”
Tony told me that Tollring is working hard to make sure that customers can leverage their recordings in a way that suits them. Tollring is currently capturing about 11 million minutes of call recording per month just with their cloud services. “With APIs, it’s easier than ever to unlock information and make it more accessible.”
Tollring’s evolving portfolio of solutions represents an excellent opportunity for resellers to start building on their offering again. Call recording solutions with APIs and cloud-based solutions allow resellers to help their end customers extract crucial data from their voice communications.
How Are you Making Call Recordings Easier For Businesses?
From a business experience perspective, it’s safe to say that most companies have had a hard time buying call recording solutions in the past. People often struggle to find something that’s both reliable and compliant. “The way that we deliver our services are very different to how they once were. Being able to deliver services in the cloud makes the service more reliable, to begin with.”
Tony told me that cloud-based solutions mean that companies don’t have to rely exclusively on an on-premises strategy. The whole experience and mindset is more refined. Today, Tollring is working to ensure that on-premises markets can move gradually to the cloud through hybrid solutions.
“It’s all part of improving the experience for our resellers and partners and providing them with a better provisioning experience and better customer service going forward. We’re very excited about our hybrid solution because on-premises is still an important market for us.”
How Do you Think Call Recording Solutions Have Evolved?
For Tony and Tollring, voice is still the primary form of communication for all customer interactions. Call recording is a critical business tool in this world, and the company has seen massive growth across all deployment methods for their tools.
“It’s amazing how far this market has come, and how far we’ve developed in delivering telecommunications solutions in the cloud. We just need to make sure that the abilities and support that we provide are suitable for on-premises customers too. That’s where the hybrid environment comes in, and we’re excited about that.”
Tony told me that service providers are starting to bundle call recording solutions into their offering because it’s much easier to access and unlock those tools today.
“Call recording is something that businesses inherently need, and accessing it doesn’t have to be a headache anymore. Adoption is increasing as a result”
“Customers can improve their experiences and interactions, while agents have an easier way to serve clients.”
What are the Key Opportunities in the Marketplace?
Tollring’s business is growing at an incredible pace, particularly in the European and UK markets, where the cloud is growing at around 98%. Tony told me that Tollring is investing heavily in people, processes, and innovations going forward so that it can take advantage of the opportunities in the marketplace.
“I think our channel partners now understand that their customers need tools that will help their businesses grow. Succeeding today is about understanding your client and making sure that you’re delivering the experiences that will improve their business revenue.”
Tony told me that if service providers and resellers have the right conversations with customers, they can find out what they need and deliver systems that “just work.” Call recording is crucial for a lot of businesses because insights allow them to delight more customers.
“We’re making it easier to both implement call recording and access the information that makes these solutions so valuable”