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Article : Using Contact Center Analytics for Greater Efficiency and Profitability

#contactcenterworld, @Semafone

Author: Gary Barnett, CEO, Semafone

The contact center industry is in a state of significant transition. An increased focus on omnichannel customer engagement, coupled with the growing adoption of new technologies such as cloud computing, artificial intelligence and analytics, is shifting the way many contact centers operate. When used correctly, these emerging technologies can help call and contact centers transition from being viewed as a cost center, to becoming a thriving profit center – driving increased sales and customer retention. The difference between an effective, efficient and profitable contact center and one that operates as a cost center, can often be boiled down to one thing – the utilization of call analytics. Without the business performance insights gained through analytics, a contact center can make the same mistakes repeatedly, resulting in fewer sales or a broken customer experience.

Traditional contact centerswhich have relied primarily on verbal communication over the phone, have long used data to measure their customer journeys, improve the customer experience and increase operational efficiency. Basic performance indicators such as average handling time, wait times, first call resolution and call abandonment rates have provided contact center managers with data points that help them understand the customer experience. However, these data points only provide limited insights. Data means nothing without proper analysis. Research from McKinsey & Company shows that the use of advanced analytics within contact centers enables organizations to reduce average handling times by as much as 40 percent and boost the conversion rate on service-to-sales calls by nearly 50 percent. The firm also found that analytics helped contact centers increase self-service among customers by as much as 20 percent and reduce employee costs by as much as $5 million.

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Benefits of Modern Contact Center Analytics

Today, contact centers can utilize much more advanced analytics technologies than the simple wait time and call handling time measurements of the past. Whereas in the past, the data analytics available to a call center were delivered after the fact (when it is too late to act upon), today’s advanced analytics solutions can provide real-time insights into where customers are in their purchasing process. For example, modern call analytics solutions can provide contact center agents the ability to view when the customer is inputting their payment card information, or when they are having an issue. They can provide contact center managers the ability to view the percentage of successful payment transaction calls completed at particular times of day. This information can be shared with sales and marketing managers within the organization to better understand the optimal times for running marketing and/or debt collection campaigns with a payment call-to-action.

The insights provided by advanced call analytics can help contact center managers:

  • Improve Quality of Service & Customer Experience – modern analytics can help identify points of friction for customers and highlight potential resolutions.

  • Reduce Costs – by gaining real-time insights into the customer’s journey, agents can operate more efficiently and even intervene to help the customer, thus reducing callbacks and other operating costs.

  • Track the Customer Journey today’s customer journey is complex with multiple points of entry; analytics can provide better insight into the full path customers take to get to a sale.

  • Maximize Upselling Opportunities – with a clearer insight into where customers are along their journey, and agents can more easily identify opportunities for upselling.

  • Effectively Plan – analyzing purchasing and payment patterns can help organizations identify the peak times for campaigns and promotions.

Implementing an Analytics Program

The maximum benefits of modern analytics solutions can only be reaped if an organization is able to take a holistic view of timely data. Timely data is key, as a good analytics provider understands what data is important to deliver immediately, versus historically. Without real-time data, the information is only available after it is too late to act on.

However, too often, the contact center operates in a silo separate from the rest of the organization. For maximum benefit, businesses must eliminate silos and merge data into a single source for greater interpretation. Breaking down these silos enables an organization to take a holistic approach to maximizing operational efficiency, rather than attempting to solve individual problems retroactively.

To implement a holistic and proactive strategy, you must first outline your goals. An organization-wide transformation can only occur if solutions and processes are created to support business initiatives and activities. Tailor your contact center KPIs to your organization’s definitions of success rather than cookie-cutter terms.

Another common challenge that organizations face when adopting analytics solutions occurs when contact center managers and business leaders find themselves looking at too much data without the proper tools and technical expertise to analyze this information. Look for solutions that include intuitive and graphical dashboards and those that enable contact center managers to create customized views of the data and trends they will need to access regularly. Unnecessary clutter can both confuse and hinder decision-making.

Implementing an effective analytics program doesn’t just happen on its own. It takes heavy lifting and buy-in from across the organization. Despite the challenges of implementing a truly effective analytics program, the benefits vastly outweigh the negatives. Keep these key considerations in mind in order to implement your analytics program. With the intelligence gained through powerful, real-time analytics, businesses can improve sales and marketing campaigns, provide a better working environment for agents, reduce agent turnover and increase customer satisfaction with a positive brand experience. This not only helps contact centers increase efficiency and profitability, but also helps pave the way for their ongoing digital transformation to become the omnichannel, customer engagement center of tomorrow.

#contactcenterworld, @Semafone

 


About Gary Barnett:
Gary E. Barnett is Chief Executive Officer at Semafone, the leading provider of data security and multi-channel compliance solutions for call and contact centers. Gary is regarded as a pioneer of contact center technologies such as automatic call distribution (ACD), computer-telephony integration (CTI), workforce optimization (WFO), and the integration of contact centers and enterprises through unified communications. Gary received his Bachelor’s of Science degree from Western Kentucky University.

About Semafone:
Company LogoSemafone provides secure voice transactions for contact centres and retailers taking Cardholder Not Present (CNP) payments. The solution allows a call - and the call recording - to continue as normal whilst the customer enters their credit card information using their telephone keypad. For complete security, Semafone's patented technology masks the Dual Tone Multi-Frequency (DTMF) tones from the cardholder's telephone and replaces them with a flat tone so they can't be recognised by the call centre agent or recorded on the call recording system. By ensuring all card data remains segregated and by removing Sensitive Authentication Data (SAD) before it hits the call recorder and the contact centre infrastructure, the contact centre is taken out of the scope of PCI DSS, protected against the risk of opportunistic agent fraud and the associated reputational risk.
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Today's Tip of the Day - Customer Interaction Tips

Read today's tip or listen to it on podcast.

Published: Monday, May 11, 2020

Printer Friendly Version Printer friendly version

2021 Buyers Guide Speech Technology

 
1.) 
Agara

Agara is an autonomous virtual voice agent powered by Real-time Voice AI. It is designed to have intelligent conversations with your customers, vendors, and partners without any assistance from human agents. It can handle a wide variety of calls including inbound customer care calls, outbound lead generation calls, appointment scheduling calls, and overdue payment recovery calls.

Agara is available for several industries including banking, insurance, retail, e-commerce, airlines, and telecom. Powered by advanced Real-time Voice AI that understands speech in real-time, automatically determines the right process to follow and guides the caller along in the process with natural conversation.

2.) 
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.

3.) 
Call Tracking Metrics

Execute automated actions based on words spoken by your customer.

Our intelligent word detection and transcription tools make it easier for you to decipher the content of your customer conversations and automate action based on those insights.

Transform the audio of your calls into speaker-organized scripts so you can easily search your call log for specific words from a conversation, or automatically detect when words of intent are spoken by your customer.

Listen in on and highlight common patterns in order to execute triggers to initiate a new action or workflow, such as emailing a manager if the word “cancel” is spoken on a call. You can also set up to automatically redact content from a transcript, such as sensitive health information transmitted on a call.

4.) 
Daisee

Daisee
Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.

Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
(read more)

5.) 
Eckoh

EckohASSIST
Advanced speech recognition and natural language expertise that routes callers by simply asking ‘how can I help you?’. It allows customers to use their own words to ask for what they want and steers them to the right place.

Menus are eliminated altogether and contact centres can use a single inbound telephone number.

6.) 
MattsenKumar LLC

SmartSpeech
SmartSpeech – The Best In Class Speech Analytics Software

An all-inclusive speech analytics application that enables you to visualize your audio using state-of-the-art speech recognition, transcription, and text analytics technologies.

7.) 
Nemesysco

InTone Suite - Emotion Detection via Voice Analysis
InTone™ is a voice analysis tool geared to detect genuine emotional and cognitive reactions regardless of the speaker’s language or chosen intonation.
It integrates into existing contact center environments and provides realtime indications of both client and agent emotional reactions throughout all ongoing calls. This unique set of indications assists managers and call center representatives to truly understand the client, improve call center performance, easily detect angry calls, elevate training efficiency and provide a tailored customer experience in every single call.

Nemesysco's contact center technology is also available in API and SDK forms.
Please visit our website for information about our product portfolio.

8.) 
Voci Technologies Incorporated

V-Blaze Speech to Text
Our GPU-accelerated, AI-based technology enables you to deliver greater insights to the contact center by transcribing audio into analyzable text.

- Transcribe large volumes of recorded audio quickly
- Integrate transcripts with your analytics or business intelligence platform
- Reduce your hardware footprint and minimize total cost of ownership

9.) 
Voxjar

Voxjar
Voxjar is your one-stop-shop for driving better phone calls with your customers. We're a modern Conversation Analytics and Call Coaching Platform.

- Custom Charts and Dashboards give you the freedom to analyze calls from the highest level down to the details of each conversation.

- AI-Powered Speech Analytics transcribes, searches, and analyzes your reps' phone conversations, at scale.

- Quality Assurance and Call Coaching tools let you evaluate and improve agent performance with a human touch.

- Long term recording storage for historical analysis


All of these together provide the holistic, easy-to-use software that you need to manage a modern call team and create better con...
(read more)
 

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