The Dubber Corp Ltd (ASX: DUB) share price is soaring today following the release of a positive market announcement.
At the time of writing, shares in the cloud-based software-as-a-service (SaaS) company are up by 8.46% to $1.41 per share, after jumping by nearly 12% earlier this morning. The All Ordinaries Index (ASX: XAO) is also rising, up 0.74% to 6,391 points.
Let's take a look at why investors are fighting to get a hold of Dubber shares today.
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New win
Dubber advised that it has been selected as the recording and data capture platform for IBM's newly launched IBM Cloud for Telecommunication Services platform.
The milestone win will see Dubber's 'best of breed' solutions become a critical element in IBM's ecosystem. The company's voice intelligence cloud will enable IBM to deliver unified call recording and voice artificial intelligence services on a cloud platform.
According to today's announcement, the unified call recording solution integrated with IBM Cloud for Telecommunication Services enables a range of advancements. This includes the ability to address compliance issues, improve sales and service performance, and unlocking opportunities listening onto voice data.
Dubber said that revenue from the partnership will depend on take-up of the services.
Why is call recording intelligence important?
In the announcement, Dubber highlighted that data analytics and artificial intelligence play a crucial role in generating new business value, lowering costs and improving customer experience. It pointed to the fact that 5G network adoption will see a bigger increase in categories of where and how calls are dispersed, and that capturing such data requires a unified platform that can think and automate workflow.
Dubber now services more than 140 services providers globally.
Management commentary
Dubber co-founder Mr James Slaney commented on the achievement:
IBM has assembled world-class 'best of breed' services to form a compelling Cloud offering for Service Providers with Dubber as a core component and the only Australian based company involved in the global offering.
He added:
In simple terms, IBM and Dubber enable service providers to differentiate and create value from the conversations occurring on the network by making call recording and voice data as a service ubiquitous and open. All conversations can be captured in the Cloud, and converted to AI-enriched data.
