PressOne Builds Profitable Cloud Telephony Business in Nigeria
Pressone Builds Profitable Cloud Telephony Business in Nigeria
Pressone has been able to transform its explosive customer growth into a profitable cloud-telephony business for enterprises that want to adopt the most efficient communication technology.
The company has been supplying virtual numbers, call management tools, and other related technology to small and medium businesses in order to help them scale while cutting costs as they avoid buying expensive hardware required by traditional PBX systems.
The founders have repeatedly reported about the importance of focusing on unit economics, as well as being disciplined about the company’s operations, which has been critical to their ability to report profitability so early on.
Few similar software-as-a-service companies in Nigeria are able to reach such a level of performance, as most are willing to sacrifice profits in order to gain customers.
The companies in this space are targeting businesses that are willing to use more advanced services than regular cellular plans but do not want to use traditional PBX systems.
In effect, Pressone is able to benefit from the same smartphone penetration that has made the Nigerian economy so digital while also providing businesses with more advanced tools.
Such tools help these businesses to operate at a higher level, as they essentially give them the tools to better organize their customer service operations.
Analysts have noted that Pressone represents a fundamental shift for the Nigerian tech industry as one that has been focused too much on the development and financing of big ideas.
The company has been able to carve a special niche for itself as a software company that was able to focus on discipline and efficiency, and subsequently reach profitability.
This is all the more impressive for the fact that most business communication companies have to deal with extremely high overheads as they operate as infrastructure providers.
This, in part, explains why many of their competitors are willing to engage in a destructive competition as they fight for every percentage point of market share.
In short, the ability to combine financial discipline and a keen focus on the market has allowed Pressone to become a profitable company.
The company’s success will be highly anticipated in Nigeria as more and more businesses seek to leave their analog roots and embrace cloud-based technologies to satisfy their growing customer base.
