Sprinklr’s CCaaS strategy is gaining traction, with one-third of its new bookings in Q3 coming from its customer service product suite.
The results come as the vendor announced earnings gains of 24 percent (YoY), with quarterly revenues reaching $157.3MN.
Its CCaaS figures are impressive, considering Sprinklr only entered the market in January.
Moreover, the CCaaS space is becoming increasingly suffocated. Microsoft, Google, and Zoom all threw their hats into the ring this year.
Yet, Sprinklr is likely benefiting from its existing presence in many service operations.
After all, many contact center teams are familiar with its social suite. As such, its success rates likely stem from leveraging existing, positive relationships with many big-name brands.
Some of those that currently harness its software include Microsoft, Netflix, and Samsung.
Undoubtedly, Sprinklr is keen to maximize the value of this extensive customer base with CCaaS.
As Ragy Thomas, Founder, Chairman, and CEO at Sprinkr, said in an earnings call:
Once a customer is in, we now – in many verticals – we have a clear path of how they should expand and how they should consolidate.
Thomas also reports that customers are excited to add new CCaaS features, seize automation opportunities, and reimagine service processes to avoid ripping and replacing legacy systems.
Sprinklr Takes On More Conventional Contact Center Brands
Sprinklr made its mark in the CX space with a data platform that collects unstructured data from social, messaging, and app platforms.
From there, it applies AI to break that down, pull actionable customer insights, and categorize them – allowing a more detailed view into the voice of the customer (VoC).
As such, it has built sophisticated AI models, a tactic that it also applies to CCaaS – offering conversational AI, RPA, and contact center analytics.
Thomas gives an example of a CCaaS implementation at a large bank, where it automated 80 customer journeys.
In offering such technologies and services, Sprinklr also hopes to take on stalwart brands across the CCaaS space. He said:
We are now replacing – in the contact center – a different slew of systems like Zendesk with ticketing… NICE is being replaced with our AI and our sentiment analysis.
According to Thomas, its knowledge base is also gaining momentum, replacing homegrown and community systems. Why? “Because it’s a platform [that] works very well together,” concludes Thomas.
Sprinklr also discussed its Salesforce partnership – in respect to bringing CX platforms together -which allows enterprises to merge their data sets with a Salesforce CDP and CRM.
Sprinklr’s CCaaS Differentiators
Thomas believes that Sprinklr differs from its CCaaS rivals in how it channels resources into its platform’s development.
“Traditional CCaaS vendors put a lot of their energy into building the telephony infrastructure, which, ten years ago, was a differentiator,” he said.
Can you keep the calls, manage the calls? Can you keep the cost down? Can you route a call? Can you make the IVR work? And today, we’re in a place where that just got, in my mind, completely commoditized.
While some may disagree, Sprinklr has instead focused more on building AI-driven apps to fetch customer data, draw insights from conversations, and automate processes.
As AI only begins to scratch the surface of its potential in customer service, prioritizing this aspect of its CCaaS platform may pay off and allow Sprinklr to increase ARPU over time.
Alongside this, Sprinklr adds its expertise in data management and connects all customer engagement channels. “That’s the advantage we have,” says Thomas.
However, an area where it perhaps trails other vendors is in its lack of UCaaS integrations, with the likes of NICE, Cisco, and Five9 aligning their solutions with Microsoft Teams.
Of course, there is still time for such actions, which may be in Sprinklr’s plans – alongside adding native workforce and quality management tools. Remember, its CCaaS platform is less than a year old.
From this perspective, it is intriguing to consider how its solution may evolve. Yet, it already offers considerable strength-in-depth regarding AI, automation, and knowledge management.
