The global voice recognition market could reach $18.3 billion within the next five years, based on a 2018 forecast. As a result, it is no surprise that companies are now beginning to recognise the power of enterprise voice data.
The importance of voice
Google's head of search, Ben Gomes, sees the huge potential in enterprise voice technology. According to Gomes, voice recognition will be the next big technological leap in the world of business.
Moreover, a Pindrop report suggests that enterprise voice technology will triple over the next year. 85% of 500 IT professionals also said that they will implement voice technology to communicate more effectively with their customers.
The Unified Communications voice equipment market in the enterprise will also grow dramatically by 2021. According to a new report, the demand for voice mail, e-mail, audio and video conference, telephone PBXs and instant messengers will soar over the next 2 years.
It is therefore integral that companies employ the infrastructure required to reap the benefits of voice data. In order to do so, however, businesses must invest time and resources into a flexible and resilient platform.
Voice data management gains traction
Today, the leading platform for voice, Red Box, announced a partnership with leaders in information archiving and compliance Global Relay. As a consequence, customers could now benefit from Global Relay's analytics tools to unlock the true value of voice.
The Red Box platform captures voice data from all legacy and new voice platforms, on premise or in the cloud. Moreover, the architecture ensures the "capture of all voice communications from old world and new world telephony, and all from a single application stack."
Pete Ellis, Red Box Chief Product Officer, commented on the partnership with Global Relay. "It reflects our ongoing commitment to an open API strategy and partnering with best of breed organisations to create an environment which allows our customers to fully embrace a 'voice first' strategy and comply with regulations," he said.
"Global Relay has a big presence in the Financial Services space and as such understands the rigorous pressures regulation imposes on organisations in terms of data governance," Ellis added. CEO of Global Relay Warren Roy also reiterated this positive sentiment.
"We're really excited to be partnering with Red Box to expand our information archiving offerings," Roy commented. "As a company that manages petabytes of data for the world's largest and most powerful organisations, we have a platform that has demonstrated scalability, performance and security."
"We look forward to enabling our mutual customers to derive new insights and value from their voice data," Roy concluded. It is evident that voice technology will undoubtedly transform the way that enterprises communicate, innovate, and analyse data.
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