5 Acronyms For Your Business

Confused? Use of acronyms seems to have skyrocketed over the past few years, especially in the technology industry. They can be great for saving time and space but can easily lead to confusion… 

All of us have probably been in that position where someone casually drops an acronym into conversation, and we just smile politely whilst secretly thinking ‘I’m going to Google that later’! So, in our latest blog we are going to address some of the most frequently used acronyms in the digital communications world. 

Acronym 1: VoIP 

Probably one of the most common acronyms you may come across when dealing with us at NT is VoIP. It stands for Voice over Internet Protocol. VoIP is a technology that converts audio signals to digital signals. This enables you to make calls via an internet connection rather than using the traditional analogue phone line. This means that you save money, experience higher quality sound, and take advantage of extra features such as IVR. 

Acronym 2: IVR 

We have most likely all interacted with some form of Interactive Voice Response or IVR. If you’ve ever had to select an option when calling a company or even if you’ve listened to a pre-recorded message, then you are probably more familiar with IVR than you might realise. These services benefit both business and customers by solving queries faster, directing calls to the right place, collecting information and improving CX. 

Acronym 3: CX 

CX or Customer Experience is a term used to describe the whole journey taken by a customer with your company. It is often confused with Customer Service. To illustrate the difference, say you went to buy a pair of shoes. When you took them to the till, the sales assistant packed them carefully for you to take away and asked you how your day was going. You would say this was a good example of customer service. 

Customer experience on the other hand is much more than this. It involves the whole journey. From the moment you saw the company’s branding for the very first time, to how the company makes you feel. CX is a big influencer in the success of your SME. 

Acronym 4: SME 

SME’s or (Small to Medium sized Enterprises) make up over 90% of businesses. As these businesses grow their communication needs grow with them. In fact, one study showed that keeping employees connected improves productivity by 20-25%. In this case, UCaaS can help! 

Acronym 5: UCaaS 

Standing for Unified Communications as a Service. Simply explained, UCaaS uses one service provider to unite all of your communications. Saving you money and time by creating a common user experience across all sites and devices whilst eliminating app-swapping and multiple subscription costs.