What do you know about the cloud-based software company Five9? There's no doubt about it, they have been in the news quite a lot lately, largely because of a potential merger with another cloud-based powerhouse, Zoom. If you really want to know more about what they're all about, consider the 20 things listed below.
1. They incorporate AI to improve customer service
There are currently a lot of companies using Artificial Intelligence, more commonly known as AI, to achieve great things. In this particular case, AI is used to improve customer service across all fronts. It's one more way that the company can guarantee solid results without experiencing the inevitable variability that naturally occurs when employees are trained individually. The AI ensures that everyone has the same experience across the board and that nothing is left to chance.
2. They also use digital platforms to reach out to customers
The company uses a number of digital platforms to reach out to their customers. In fact, they allow their customers to dictate which platforms they would prefer to use and then tailor their resources to fit those needs. Even though the company is technically in the business of cloud-based software, they are always quick to point out that they are really in the business of customer service. As such, they put that before anything else.
3. They help other businesses streamline their operations
One of the things that they specialize in is helping other businesses streamline their own operations. This is critical because in some cases, it can make the difference between a business succeeding or failing. When operations are streamlined, businesses are able to focus more on the bottom line. In addition, they don't have to worry as much about overhead because they can do more with fewer individuals. That means bigger profits and an increased chance of success.
4. They use analytics to help businesses stay on top of things
One of the ways that they monitor the overall success of their customers is through software analytics. Those analytics are used to look at what their customers are currently doing and where they could potentially improve in order to streamline their operations. It's all done through advanced computer algorithms that provide almost instant feedback.
5. They also provide software automation
In addition to analytics that can genuinely transform the way their customers do business, they also provide full software automation. As opposed to small businesses being forced to either employ someone to sit and manually do the books, they can use this type of automation to handle the business side of things, allowing them to focus more on their own customer service operations. That means each business has the capacity to make more money, regardless of their initial size.
6. They have expert staff at the ready around the clock
For the most part, everything the company does is automated through the use of AI. However, they do have an expert staff that works 24 hours a day, seven days a week. They are available to answer any questions and help their customers work through any potential issues that they might have.
7. They can help businesses of all sizes
If you think that the company only works with major corporations, think again. In fact, they routinely work with businesses of all sizes. Thanks to them, the small business that is owned by a single person can benefit just as much as a major corporation. This is because all of their services are scalable to meet the needs of the customer in question.
8. They’re also a presence in the field of higher education
They don't exist only to help corporations and other for-profit businesses. They have also decided to dive into the world of higher education, helping to streamline the processes for institutions such as Regents University. The idea is to ultimately make education more affordable by reducing the amount of money that each university has to spend in order to operate.
9. They can customize their services to meet your exact needs
As previously mentioned, the company is capable of customizing their services to meet the needs of each customer. Whether that involves only one or two services or everything that they have, they can tailor those services to meet what each of their customers needs the most. This not only makes things more efficient, but it also minimizes the cost for each customer, as they're not paying for a ton of services that they don't need or use.
10. They currently have more than 2,000 customers and 20 years of experience
At the moment, they have cumulative experience of more than 20 years, as well as serving more than 2,000 customers. That number is going up all the time as more and more businesses come to understand the potential benefits of doing business with Five9.
11. They almost merged with Zoom
Just last summer, there was news that Five9 and Zoom would merge in order to combine their respective talents. That merger has since fallen through, prompting a lot of business analysts to try and ascertain why things didn’t work out as planned. By all accounts, it looks like it was the direct result of the drop in stock that Zoom experienced during the summer, as well as another drop just before the deal fell through at the end of September. At the same time, a lot of those same business analysts have been talking about how Five9 can make it on its own, perhaps even better than Zoom can.
12. They experience massive growth in the last quarter alone
Just in the last quarter alone, the company has experienced 44% growth. That's almost unheard of. It also means that their profits were an astonishing $143.8 million in the last quarter alone. Clearly, the lack of a merger is not likely to hurt them. In fact, they released a statement directly after they decided to pull out of the merger with Zoom, stating that they had a great deal of potential for growth as a stand-alone company.
13. They’re still open to the right merger
Even though they are now talking about remaining a stand-alone company, they've also been quick to point out that they're still very much open to the idea of merging with another company similar to Zoom, should the perfect opportunity present itself. In order for them to do it, it would have to be something that would allow them to do things that they don't feel they could do on their own, and that means it would have to be a near perfect opportunity. However, they are definitely not ruling out the possibility at this time.
14. Their stock is currently performing well
There is no doubt that the stock market can be extremely volatile, leaving a lot of consumers to wonder where they should invest their money. Many analysts who spend their days and nights staring at stock market information believe that it is a good time to purchase stock in Five9 because they see the company moving forward and increasing their value. While many of them believe that this value will increase over the next three to six months, they also see the company increasing in value in the long-term.
15. They know how to expand while maximizing their value
There's no doubt about it, this is a company that knows how to expand their reach while simultaneously maximizing their value to the customers that they already have. That's one reason why they have managed to do so well thus far. While other companies like Zoom are seeing a rather dramatic drop in their stock as a direct result of more people going back to work and using their platforms less, Five9 has found important ways to maximize their value to their existing customers while still attracting new ones.
16. For them, it all comes back to customer service
The company has always put a premium on customer service, as previously discussed. For them, it's all about providing customer service that is second to none, regardless of the size of the business they are helping. It's one of the reasons that they have kept their customers and it's another reason why they routinely add new ones. Word of mouth still does a lot and in this particular case, people are obviously hearing good things.
17. They tend to develop strong relationships with their customers
Because they believe in good customer service, they have a tendency to develop strong relationships with their customers. Even though they use technology, they still believe in developing that one-on-one relationship. That goes a long way toward helping customers believe in what they're doing, thereby increasing the level of trust that each customer has in them. That trust has proven to be extremely beneficial when it comes to their ability to grow and expand successfully.
18. They believe in making sure their employees are happy
This is a company that believes that the only way they can truly achieve great things is to ensure that all of their employees are happy. They are well aware that when employees are not happy, they don't tend to do their best work. Even for the most conscientious of employees, it is virtually impossible to do the same level of work that you would do when you're happy, when you're absolutely miserable. No matter how hard you try to tell yourself that you're going to do your best and approach every day with a fresh attitude, the very idea of being unhappy at work occupies your thoughts and drains your energy. It simply doesn't allow you the energy and the mental cognition that you need to perform at your best. This is something that Five9 executives figured out a long time ago. As such, they work diligently to make sure that their employees are happy because that is what allows them to provide top-notch customer service to all of their consumers.
19. They’ve completely reimagined call center services
Call centers have been around forever but not like this one. In fact, Five9 has totally reimagined the way that call centers work because there is no physical location that has dozens, or even hundreds, of employees, all of them sitting in lines of desks with little partitions as they stare at their computer screens. Instead, a lot of their services are indeed handled by Artificial Intelligence. As far as the part that's not, experts that work around the clock can provide answers to any questions that people have. However, this too is different. These employees are allowed to do things that most employees would never be allowed to do. As such, they have the chance to work remotely, set their own hours (within reason, of course) and work in the way that is most effective for them. In other words, Five9 gives them some freedom to make their own choices so that they can be allowed to do their best work. One thing the executives at the company definitely don't believe in doing is keeping people under their thumb while trying to micromanage them at every turn.
20. They are a truly global company
Because they have recognized how important it is to do business differently, they have become a global company in the truest sense of the term possible. They have customers all over the world. Moreover, they utilize a workforce that exists all over the world. This actually works in the company's favor because it allows them to have people working around the clock without forcing somebody to work at three in the morning. For them, all they need to do is have their staff on one side of the world work during the first 12 hours of the day and then allow their staff on the other side of the world to take the next shift. When it's all said and done, it's beneficial for everyone involved.
Written by Allen Lee
Read more posts by Allen Lee