India Inc set to ramp up spending on voice capabilities, says survey

NEW DELHI:  Indian companies plan to spend 2.6 per cent of their revenues on building voice capabilities over the next five years in order to fuel the next phase of growth, a Cognizant survey revealed on Tuesday. 

This spending is fuelled by high expectations since they aim to drive six per cent of their revenue through voice during this period, it added. 

“Whether digital or brick-and-mortar, businesses will have to pivot to voice to be heard by their customers in the present and future. While 15 per cent of respondents in India already have a formal voice strategy in place, another 58 per cent of businesses (regional average 50%) will join those ranks within the next 1-2 years,” said Manish Bahl, associate vice-president, Center for the Future of Work, Asia Pacific and the Middle East, Cognizant.

A total of 1,400 marketing and IT executives across 10 countries in the region were surveyed.

According to the survey, Covid-19 has served as an inflection point for voice adoption, with 92 per cent of Indian respondents believing that the shift from “touch” to “voice” will only accelerate further.

70 per cent view voice as important or extremely important for their future. 

“Just like companies needed an internet strategy in the ‘90s, a search strategy in 2000, they now need a voice strategy,” Bahl added.