Speech analytics is a technology that analyses telephone calls between customers and call centre agents, providing intelligence to organisations that can improve customer experience (CX) and drive efficiency.
This technology can listen for keywords, phrases and voice attributes – such as anger and frustration.
Speech analytics is becoming an increasingly popular technology in contact centres. Its ability to capture, analyse and report on the content of customer conversations can help organisations improve their service quality and identify cost savings and process improvement opportunities.
Speech analytics software examines data gathered from communications between contact centre agents and customers and provides direct insight into the voice of the customer.
These tools allow contact centre managers and agents to closely analyse every single call that comes in and provide real-time data for quality assurance without the need to manually evaluate calls. Ultimately, speech analytics provides contact centres with a better understanding of how certain interactions can be improved.
Here are some specific benefits of implementing speech analytics for your contact centre:
Improves quality assurance measures
Speech analytics software can assess all communications in a contact centre in real-time, enabling contact centre supervisors to keep close tabs on agent-customer interactions and monitor agent effectiveness more closely.
Using speech analytics can also improve the outcome of initial calls and reduce operational and performance issues that sometimes occur in contact centres. Paying attention to speech analytics helps agents “get on the same page” as customers, which ultimately increases the resolution rate of first calls and thereby reduces overall call volume. In turn, this can alleviate the stresses that overwhelmed agents may face, especially during peak call times. Agents are happier, and customers are more satisfied with their interactions with the contact centre.
Identifies opportunities for upselling
Contact centres may be able to use speech analytics to identify opportunities to upsell or cross-sell to boost revenues. This software may also pinpoint the types of responses that specific customer demographics provide when marketed to and make changes or improvements as necessary. Contact centre speech analytics can help agents and supervisors create customised upsell or cross-sell tactics that are designed to target each customer’s needs.
Reduce risk of non-compliance
There are regulations that are put in place to ensure that agents do not infringe on the privacy of customers, but over the course of an agent’s duties, breaches may occur.
With speech analytics, agents are provided with real-time data to make sure they stay on track and avoid saying or asking anything that would be considered outside the scope of regulatory compliance. The software can track all calls and alert agents when they veer too far off the script.
For instance, real-time speech analytics will alert an agent if a certain keyword or phrase is uttered that may go against compliance rules. In turn, agents can immediately correct themselves. By preventing non-compliance, contact centres can avoid stiff fines that may come with failure to adhere to industry regulations.
Further, unnecessary call-backs can be prevented and certain processes can be automated to reduce the need for overstaffing. Speech analytics provides one more way for contact centres to run a more cost-effective operation that protects their bottom line.
Speech analytics has tremendous potential to transform contact centre operations and drive efficiency. According to research, 49% of companies were able to improve customer satisfaction using this technology, while 37% applied speech analytics for root cause analysis and trends monitoring. Four in 10 organisations even saw productivity gains as agents were able to anticipate the purpose of the call. Just 2% said they witnessed no clear benefits after implementation. If you are eager to be among the 98% achieving tangible benefits from speech analytics in the contact centre...
Coligo group, ScopServ’s affiliated company, offers a product called Callbi. Callbi is a cloud-based software as a service speech analytics solution for contact centres.
Callbi is a low-cost, highly effective solution to enable organisations to maximise revenue, improve efficiencies and effectiveness, reduce costs and mitigate business risks.
It is a secured, cloud-based speech analytics solution for contact centres, with local support, and hosted in your region.
A proprietary speech-to-text technology. Fully compliant with international data security standards.
It monitors and analyses 100% of contact centre calls. It ensures compliance, sales, service or collections effectiveness. It optimises the customer experience. It provides valuable operational insights and business intelligence.
Visit Coligo group for more information on this product.
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