Telephone handsets have been cluttering our desks for decades, but during this period of time, the way that we work has evolved dramatically. The Covid-19 pandemic has accelerated a growing preference for more flexible working, and rapid digitalisation has enabled even the smallest of businesses to become global very quickly.
This means that, contrary to being tied to a single location, with a physical desk and a corresponding phone, employees can be spread all over the country and even the world. Add to this the pre-pandemic boom in hot desks and shared office space, and the concept of calls being directed to one specific handset seems not just outdated, but actually impractical.
Cloud-based telecoms shake up the sector
Enter TelcoSwitch. The London-based cloud telephony firm specialises in unified communications solutions for organisations from SMEs to enterprise, replacing clunky, physical telecoms infrastructure with a cloud-hosted alternative that employees can access from anywhere, on any device.
This means that staff are no longer required to use the handset on their desk to pick up calls dialled to the corresponding number: TelcoSwitch’s CallSwitch software enables employees to communicate and collaborate from any device or location. The company also offers contact centre features, CRM integration for telesales campaigning and call recording, so businesses receive all the benefits of a sophisticated physical infrastructure, in a more cost-effective package.
TelcoSwitch’s product offers the flexibility sought by growing firms, especially SMEs that may be selling a product or service online and require a robust telecoms infrastructure for customer service but do not have the capacity to run a full contact centre in-house. Cloud-hosted communications solutions are also valuable for organisations with employees in different locations – a common occurrence amid the pandemic.
One of the fastest-growing UK tech firms
Following a period of unprecedented growth in 2020, during which the business grew its unified communications platform by 45%, TelcoSwitch has now secured a £2.5m Coronavirus Business Interruption Loan Scheme (CBILS) investment from BOOST&Co to accelerate its ambitious expansion plans.
“It has been an exceptional year for TelcoSwitch. We’ve enjoyed record sales and ranked as one of the fastest growing technology companies in the UK,” says Russell Lux, the firm’s founder and chief executive. “We’ve worked extremely hard to get to this point, and now have a hugely supportive partner in BOOST&Co to help us drive the business forward, continue to acquire other businesses and accelerate the growth of our channel partner base.”
The investment will be used primarily to fund growth initiatives, supporting the company to capitalise on the momentum it has generated over the past few months. It will also enable the firm to explore the new opportunities offered by the growth in remote working.
“TelcoSwitch was performing successfully before the pandemic, showing clear signs of growth,” says Kim Martin, principal at BOOST&Co. “This CBILS loan will enable the team to focus on driving further growth opportunities, invest in their staff and make sure that they are well placed to benefit from the strong market drivers that exist for their products, perhaps now more than ever, so BOOST&Co is confident to support the firm’s future plans.”
A loan that supports wider economic recovery
The business has built a strong network of channel partners through the TelcoSwitch Academy, a comprehensive programme that provides sales and technical certifications to its resellers. Capitalising on this network, TelcoSwitch intends to expand and diversify its product range, enabling the firm to cross-sell to existing clients as well as developing new, complementary solutions.
As part of a drive to significantly increase its number of channel partners, the company will double its office space, so that it can accommodate up to 100 employees in its sales, account management and support teams during the next 12 months.
“TelcoSwitch is a founder-led business with a high-calibre management team. They are investing in growth now, in readiness to scale up their operations, which will also lead to the creation of new jobs at a time when unemployment is on the rise. This loan will underpin the continued success of a disruptive telecoms player, while ultimately supporting economic recovery as a whole, which is why it’s a fantastic deal to be a part of,” Martin says.