The shift to online, in various walks of life triggered by the pandemic, will not revert fully but continue as online and offline (the hybrid model), says Vinod Vasudevan, CEO, Flytxt, a Dutch company and market leader in intelligent customer engagement technology. The company has a global development centre in Thiruvananthapuram.
Earlier last week, Flytxt had become a member of the Oracle PartnerNetwork (OPN), offering new data-driven vistas in Oracle Digital Experience for Communications to improve precision and personalisation with which communication service providers (CSPs) launch products and support customers.
The shift online has brought two positives for CSPs or telcos, Vasudevan told BusinessLine. “One is change in public perception of CSPs to a strategic asset from that of a utility and commodity in markets, including India. This has certainly resulted in better and more stable valuation metrics for telco stocks.”
More revenue, profit
Secondly, increased usage of data and voice led to increased revenue and profitability for CSPs who could support the increased demand. Many did not charge for the increased usage initially, but some others were able to monetise this subsequently and establish stronger relationship with their subscribers.
Vasudevan recalled Flytxt was one of the earliest proponents of the hybrid cloud architecture and artificial intelligence (AI) for maximising returns across a telco’s customer relations management and customer experience.
Hybrid cloud and AI
“We are pleased to see that the industry is now increasingly adopting hybrid cloud and AI. More than half of our clients are on hybrid cloud architecture and 100 per cent of them use our AI to drive profitable customer experiences,” he said.
Flytxt has also been an integral part of the evolution of the industry to digital service providers and platform businesses. “While executing this journey. (our client) telcos have relied on our technology to cross-acquire customers across channels and increase their usage, wallet share and repeat business,” Vasudevan pointed out.
“We have also introduced federated marketing (where a digital core team is supported by other departments not part of its core business group) using privacy-preserving AI to help platform businesses create combined insights from data sets of different platform participants while strictly honouring privacy, security and localisation of data.”