“…Speech recognition technology is becoming increasingly prominent as a cost-cutting and value-enhancing solution for customer care and service enablement. As firms look to improve customer interaction in a cost effective manner, the technology will serve as an adjunct to offshore customer service operations …”
A report released by independent market analyst Datamonitor (DTM.L) three years back predicted speech-enabled self-service technology would compete with offshore contact center customer service agents.
According to Datamonitor research, a contact center in an offshore location, like India, saves Western businesses approximately 25% to 35% per transaction. However, a call serviced through speech automation costs approximately 15% to 25% of the cost of a call handled by an agent in India.
Testament to this shift came last week when Lloyds TSB announced it is to close its contact center in Mumbai, which typically handles overflow calls when UK agents are busy. It says the widespread use and success of its automated speech-enabled phone self-service system has eliminated the need for additional agent capacity in Mumbai.
Speech recognition was once viewed as a futuristic technology that would never leave the realm of science fiction. But over the past 50 years, key technology and commercial achievements in speech recognition along with increased central processing unit (CPU) performance and lower hardware costs have helped make speech commercially viable for enterprises and service providers. Today, speech recognition is becoming increasingly prominent as a cost-cutting and value-enhancing solution for customer care and service enablement.
“As we roll out the tape over the next several years, cost pressures and globalization will undoubtedly continue to create strong tailwinds for offshoring, said Daniel Hong Lead Analyst of Voice Business Research at Datamonitor. “However, speech self-service will also proliferate and in many instances compete with offshoring as companies scramble to assemble the optimal blend of automation and agents for customer care. It is important to note that increased reliance on speech will not supplant the need for offshore contact centers for a lot of companies, rather the technology will serve as an adjunct to offshore operations as these companies look to improve customer interaction in a cost effective manner.”
In fact, according to Datamonitor research the offshoring movement is not going away anytime soon. Peter Ryan, Senior Analyst of Contact Center Outsourcing Research at Datamonitor says “one only needs to look at the recent Dell expansion into the Philippines as a sign that customer care served from foreign locations is a model that works. Companies across Western nations are clearly seeing the benefits to housing some elements of customer care offshore. These include lower costs, accessing agents with excellent language skills and commercial sophistication. It is also apparent that many firms that feel offshoring is a one-stop shop are re-thinking their strategy, and are incorporating nearshore / onshore capabilities in addition to self-service.”
While the movement by Lloyds TSB represents only one instance of speech self-service displacing offshore agents, Datamonitor sees this as a growing trend over time as businesses learn to leverage technology from more of a strategic standpoint.
Informa plc is a multinational events and publishing company with its head office and registered office in London
Published: Wednesday, March 28, 2007
Contact Center Innovation Channel and Digital Transformation Enabler
Providing Research, Training and Consulting related to Customer Experience Delivery, support Project Management by Unit or Corporate.
Have the ability to conduct research for specific needs.
Having deep knowledge on the Digital Interaction/Contact Center / Omni Channel / CRM various Stakeholder and Emergency Response ecosystem in Indonesia.
Combines knowledge management with call support as continue improvement.
eGain Knowledge + AI
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eGain Knowledge + AI
eGain Knowledge+AI™, the top-rated, analyst-awarded knowledge management software, guarantees quality customer service by infusing your customer service agents with knowledge, making all agents as productive as your best ones. By providing agents and other users a range of ways to get to information from the common knowledge base, it ensures fast, consistent, and accurate answers.
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Documentation in Happitu is automated, detailed, and consistent. Go beyond handle times and service levels with the rich insights of Happitu – from granular interaction data to aggregate data and trends – you get the complete CX journey!
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Knowledge Management software
livepro are experts in Customer Experience Knowledge Management and are passionate about improving customer experience. livepro is feature-rich yet easy to use, delivering answers to agents – not long complex documents to dig through. This makes customer service quicker, easier and more efficient. Staff require next to no training on complex procedures thanks to livepro’s intuitive design, which brings confidence up and training costs down.
ProcedureFlow is a step by step visual guide that supports agents as they navigate company processes. With a knowledge management solution that simplifies complex information, employees can spend less time searching and focus on what they do best. ProcedureFlow’s simple and intuitive platform enables contact centers to quickly and easily create, maintain, and update company processes in real time. With ProcedureFlow, teams can work more efficiently, better serve customers, and drive results that matter most to their business.
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Synthetix’s intelligent knowledge base software, Knowledge: For Your Team empowers your agents whilst fuelling your digital customer service channels.
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