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Speech Analytics Come to Rescue for Better CX - Sestek - ContactCenterWorld.com Blog

Speech Analytics Come to Rescue for Better CX

The customer experience (CX) refers to the interactions a business has with customers at every channel related to marketing, sales, and customer service. In general, customer experience is the sum of all interactions between a customer and a brand.

The customer experience is not just a series of transactions; It is also about emotions. What do current or potential customers feel or think about the brand? At each touchpoint, customers’ thoughts will be positively or negatively affected. So, there are important decisions to be made at each touchpoint, and these decisions will affect the experience and ultimately the success of businesses.

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Why is Customer Experience So Important? 

As products and services become similar and competition heats up, customer preferences are now based on experiences with the company rather than on specific product features and functions.

As customer experience becomes the main competitive edge, businesses must ensure that their customer experience strategy delivers personalized and satisfying interactions at every customer touchpoint. These interactions have an increasing impact on customers’ overall perception and impression of brands. This makes the customer experience critical to success.

The statistical insights, we’ve read from the article Top 40 Customer Experience Statistics To Know in 2021  on customer experience, say a lot about the significance of CX.

You can find a few of them below:

  • 86% of professionals, engaged in or leading CX, expect to compete based on CX
  • $35 billion is lost every year by US businesses in customer churn caused by avoidable CX issues.
  • 83% of executives feel that unimproved CX presents them with considerable revenue and market share risks.
  • 74% of consumers are at least somewhat likely to buy based on experiences alone.

In the light of all the figures, we can say that effectively listening to customers and acting fast to close the loop on their issues are becoming more and more vital for businesses. However, the high volume of customer interactions makes it impossible to manually review and analyze them accurately. The manual reviewing process can only focus on a fraction of interactions and is far from providing holistic results.

How to Overcome the Challenge: Speech Analytics 

With the help of AI (artificial intelligence), businesses can apply in-depth analysis to customer interactions across multiple channels. These analyses include not only textual and statistical details but also emotional data. With advanced features like emotion detection and sentiment analysis, businesses can gain valuable insights to make wiser decisions.

Call centers are still at the forefront of customers’ preferred channels for interaction. Especially during the pandemic, the call traffic at this channel increased significantly. This shift calls for greater care in choosing the right tools to monitor, evaluate and analyze customer experiences.

Choosing the right speech analytics solution is very important for the correct evaluation of the vast data obtained through customer interactions. The success of the solution for speech analytics has a direct impact on the call center activities such as:

  • Call center monitoring and reporting
  • Agent performance analysis and training
  • Customer satisfaction and service quality analysis
  • Automation of quality monitoring processes
  • Crisis management
  • Competition, market, and campaign feedback analysis
  • Identification of cross-sales opportunities

As a global technology company helping organizations with Conversational Solutions be data-driven, increase efficiency, and deliver better customer experiences; we provide a very competent and proficient tool for speech and text analysis. Recently, we deployed our speech analytics product for Halkbank, the third-largest bank in Turkey.

The analytics solution implemented for Halkbank’s call center monitors all (100%) customer-agent conversations and evaluates in these following parameters:

  • Customer/Agent Anger Ratio
  • Agent Speech Duration & Speed
  • Agent Interruption/Overlap Rate
  • Agent Silence Rate
  • Agent Waiting/Hold Time During Call

This solution offers actionable insights to quality management teams to coach and guide agents accordingly to improve the service level. The implementation resulted from the inputs below:

  • 25 seconds decrease in ticketed call duration
  • 10% decrease in silent rates
  • 5% decrease in hold time
  • 75% improvement in customer anger ratio

The solution implemented for Halkbank also stands out with its high accuracy rate of 94% for speech-to-text conversion.  This high accuracy rate enables quality management teams to discover customer pain points and frictions more accurately and it also provides deep insight on how to support agents for improved performance. Click to check out our success story here.

Please visit this link for more details and case studies about our solution for speech analytics.

 

Author: Çağrı Doğan, Sestek Marketing Team, Sestek

Source: https://www.sestek.com/2022/04/speech-analytics-come-to-rescue-for-better-cx/

Publish Date: April 13, 2022


2022 Buyers Guide Recording

 
1.) 
Premium Listing
Call Center Studio

Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.


2.) 
ASC

ASC Recording Insights and neo
ASC Recording Insights guarantees legally compliant recording and analysis of all communication channels in Microsoft Teams - including audio calls (internal and external calls), chat conversations and video meetings.

neo Recording, QM & Analytics address all enterprises with recording needs, especially contact centers. The content of communication becomes accessible and critical information and trends are revealed, providing real-time business intelligence for immediate management action.

3.) 
Geomant

Microsoft Teams Cloud Recording Service
Geomant offers a fully managed recording service for those organisations who need to address compliance or quality management while working on Teams. The Service utilises Verint’s market leading recording technology and is hosted by Geomant in Microsoft Azure. Our managed service approach is unique in that it allows organisations to benefit from advanced recording features, all while being free from any technical infrastructure or maintenance requirements that come with a traditional on-premises set up.

4.) 
Lieber & Associates

Recording System Consulting
L&A provides vendor-independent consulting services to select, contract for, test, and implement contact center recording systems. The firm's consultants specialize in contact center I.T. and have several decades of experience each with all major and many smaller makers of phone and call recording systems.

5.) 
MiaRec, Inc.

MiaRec Call Recording
MiaRec's compliant, secure, and reliable Call Recording software is the foundation of our Customer & Workforce Engagement Platform.. MiaRec Call Recording seamlessly integrates with MiaRec Agent Evaluation & Scoring, Live Monitoring, Voice Analytics, Screen Capture, and Advanced Reporting to provide a comprehensive solution you can trust.

6.) 
Numonix

IXCloud
Numonix's IXCloud is one of the first fully managed compliance recording solutions for Microsoft Teams. IXCloud securely records, stores and analyzes interactions in the cloud without physical or virtual servers. As a fully managed Azure-based, Software-as-a-Service cloud interaction recording solution, IXCloud takes interaction capture into the future. It enables instant and elastic scalability to support business growth and provides the necessary tools to enhance business performance while maintaining compliance. IXCloud redefines versatility with its OpenAPI framework that enables application development. Companies and third-party developers benefit from IXCloud native capture technology, whether it be integrating with internal systems or building a third-party application.

7.) 
Nuxiba Technologies

CenterWare
Enterprise recording management for storage, retrieval, playback, and monitoring communications throughout your contact center.

Record screen activity and calls across agent workstations, measure and monitor quality levels across all campaigns and analyze recordings to capture first-hand customer data and requirements.

Easly access all recordings and critical information to provide improved customer experience, sales, and productivity!

8.) 
OrecX

Oreka TR
Oreka TR total recorder includes all of the call recording capabilities you will need, at about half the cost of competing for call recorder solutions, including screen recording, mobile phone recording, live monitoring, on-demand recording, multi-tenancy, multi-site recording, audit trail, call exporting, retention management, auto-tagging (for speech analytics and phrase spotting) and so much more.

9.) 
PCS Software

PCS GD
Call recording solution fully integrate to all main pbx solutions.

10.) 
Teckinfo Solutions Pvt. Ltd.

InterDialog UCCS
InterDialog UCCS enables organizations to adhere to all compliances with its inbuilt call recording software and also has an option for screen recording. With centralized repository of all voice logs, its easy to maintain & retrieve all voice files and have a central control in case of multiple branches set up.
 



View more from Sestek

Recent Blog Posts:
Employee Experience, Customer Experience, Total Experience: How are They All Connected?May 16, 2022
Speech Analytics Come to Rescue for Better CXApril 13, 2022
Voice: Still the Most Natural, the Most Comfortable and the SafestDecember 20, 2021
From Single-Use Bots to Intelligent One-for-All BotsNovember 11, 2021
Chatbot? Virtual Assistant? Digital Assistant? What’s The Difference?September 21, 2021
The Evolution of Machine Learning: Explainable AIJuly 13, 2021
Making Conversational AI Smarter: 4 Hints to Design an Intelligent Conversational AI SolutionMay 25, 2021
How to Deploy Successful Conversational AI ProjectsApril 1, 2021
Transformation of Driving Experience: Tips for Implementing Conversational AI in Automotive IndustryMarch 9, 2021
The Pillar of a Successful Conversational Journey: Speech RecognitionOctober 10, 2020

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