Here is a quick min-pod on some initial thoughts on the 350 million dollar purchase of LiveVox by NICE.
This is essentially a union of two firms where one's strengths balance out the other's limitations.
The Cxone Dialer is mediocre, and certainly not a standout in the industry, whereas CXone continues to be the industry front-runner for inbound CcaaS.
On the other hand, LiveVox boasts an outstanding outbound service with a vast portfolio of outbound clients. However, they've struggled to gain momentum in the inbound CX domain.
In my opinion, this merger is a strategic move for both companies. Relying solely on outbound strategies in today's regulatory environment is challenging, and I believe LiveVox was aware of this.
On the Cxone side, they now have arguably the best outbound platform in the market.
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Hey guys, I'm not even going to give the full intro to the podcast it's kind of like a mini pod but wanted to give my thoughts on the announcement today that Nice has purchased Live OX and some of the impact that I think this will have. If you go on LinkedIn, there's some, there's some negativity towards this and a lot, a little bit of fud towards it, which I think is just probably natural for whatever everybody kind of kind of is an initial reaction to really anything that's a little bit new. There's a lot of talk on how there's a lot of consolidation happening in the space and this is kind of maybe one of the first dominoes to fall, but I don't think it's I'm getting that deep with it. If you notice, there's some on the press release. It says Nice to acquire Live OX revolutionize how organizations manage proactive outreach with the power of conversational AI at scale. All you need to hear in that phrase or that one line headline is the word outreach, because that's what Nice wanted from Live OX.
Speaker 1:
So Live OX started basically as an outbound platform. Worked majority with a ton of debt collectors. Still have a ton of debt collectors. Have a huge outbound portfolio. Have one of the best dialers, outbound, predicted dialers on the market, top notch, how they work, everything from drop offs to TCPA to make sure everything is legal and you're set. It's an amazing platform. If you're looking for an outbound dialer, that really is the catch meow.
Speaker 1:
The CX1 dialer is not great right, and everyone kind of knows that. Nice has almost blatantly admitted that, so it's never really pushed. It's just kind of something like, yeah, we'll kind of tolerate, and I think that that's really where this comes in. Forget about this AI in the headline here. Just hear the proactive piece. What Nice wanted was the dialer technology, that dialer platform to instill and put into CX1. Cx1 is, for my dollar, is the number one C-Cast inbound interaction platform, right, whether that is full omni-channel voice email, digital chat, outbound.
Speaker 1:
They were really lagging. So I know the LiveOx people and I've done a bunch of demos and talked to them and they're great people, but their inbound platform just was not up to stuff, was not close to the Genesis and the Five Nines and the CX1s and the Nice Nice CX1s. So I also think that they thought you know outbound I don't want to say it's dying, but it's. It's very difficult to navigate right there. There's so much regulation going on, what happens here in the States, what happens even Europe, that I think it's very difficult. And when they couldn't really get there their inbound platform, not to say that it was terrible because it wasn't terrible, it just it wasn't as good.
Speaker 1:
When they couldn't get that to really catch on and they noticed that outbound was still kind of their baby, I think that this was a natural thing to do. To take, you know, to sell out for 350 million bucks. It seems Relatively inexpensive to me, based on the portfolio that that I know, that live box have. So I think this is kind of, you know, both, both companies have weaknesses and the strengths of each organization kind of just Was the perfect fit. So I'm not saying it's a marriage made in heaven, but it makes a lot of sense in the CCAS world that these two would kind of combine. So and I mean I think now nice has almost everything right. They have the number one inbound omni channel platform with CX one and Depending and I will say this, they have done a really good job Since the nice in contact merger, which was bumpy at first, of of being able to integrate Kind of ancillary third-party outside platforms into their platform. So I think they become really good at that.
Speaker 1:
You know, all of the, all the old nice stuff is really now native into CX one. You don't feel like there's a couple. You know things hanging on there but you don't really feel like they're just slapping things on. It all feels very natural. I'm sure that you know the first piece of this is going to be a little I used the word wonky, right when they try to get this going early. But as your rollouts come, I think you're that you're gonna see. You know this get really smoothly entered into the, the CX one universe and it's gonna be a huge benefit to.
Speaker 1:
I know even us like we don't use the dialer, we just use API's to connect and do our own kind of power dial. But with the live ox, if that technology gets moved in, we might even have to look at using some of that because it is really really good and you feel really good from a TCPA A standpoint as well. That that's gonna be on on on point. So again, just a couple quick thoughts. Kind of an interesting day when, when, when you know, big companies like this kind of come together in our little world. So just wanted to give up my two cents. Love to hear what you guys think in any of the comments. But yeah, nice acquires live ox.