Telecom fraud is one of the leading reasons for revenue losses in the industry. According to a joint report published by Europol’s European Cybercrime Center and Trend Micro, telecom frauds lead to a revenue loss of $32.7 billion. This has negatively impacted operator revenue margins across the board. As telecom networks expand and more data gets exchanged through connected devices and users, telecom operators will have to find ways to counter these issues. Although new offerings such as 5G and IoT are laying the ground for ever more sophisticated ways to secure the network, hackers always find a way to breach the system and impact operations. Telecom operators must continuously audit their security framework and processes and establish ways to eliminate frauds and prevent revenue losses.
As IoT’s market grows; the scope for security threat also increases. Innovative threats could emerge that don’t exist today. Recently, the FDA recalled half a million pacemakers because they were vulnerable to attacks. With more IoT devices getting connected to 5G networks, there is an increasing scope for hackers to attack the devices. They could manipulate the devices and create irreversible damage if not monitored and controlled periodically.
Apart from addressing queries, CPaaS can also help improve customer and employee engagement. First, enterprises can integrate it with the CRM, so the customer support team can access the customer’s details. They can see the customer’s details and personalize their responses or, if the opportunity presents itself, cross-sell or upsell new products to them. It also aids the marketing and sales team to create contests, promotional offers, flash sales, etc., and push the communication to the targeted customers through channels of their choice. It can also be used to send reminders for an impending appointment or payment alerts to customers. Some CPaaS solutions also offer reporting capabilities to check if the overall customer engagement campaign was successful. Similar opportunities can be exploited for employee helpdesks and support for greater employee engagement. Experts foresee AI integration with CPaaS in the future to make engagement more agile and powerful.
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