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Industry Research : Speech Self-Service, Slowly Leaving An Indelible Impact On The Voice Of Customer Service

“…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. 


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Today's Tip of the Day - Vendor Selection

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

Published: Wednesday, March 28, 2007

Printer Friendly Version Printer friendly version

2024 Buyers Guide Help Desk Software

 
1.) 
Happitu

Happitu is your customer support team’s personal coach. It guides your team through every interaction with custom workflows, responsive scripting, and dynamic help topics.

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!

We intentionally built the Happitu Workflow Designer with your customer support team in mind. Using our intuitive tools that provide quick and safe iteration, you eliminate the need to involve IT or Development. Yes, you will no longer have to dread submitting a change request to Devin from IT!

Try it free for 45 days!

2.) 
Knowmax

Knowmax
Knowmax is an omnichannel knowledge management platform. Our mission is to transform contact centers into resolution centers and drive customer self service.
The platform is an industry-agnostic enterprise-grade knowledge platform with components helping in easy findability of actionable information at the right time across the desired touchpoint.

3.) 
LiveAgent

LiveAgent Help Desk
LiveAgent is a cloud-based Help Desk Software with over 195+ compatible integrations. Streamline all customer communication channels and manage them from a single shared company inbox. Enjoy social media integration, unlimited ticket history, call recordings, hybrid ticket streams, and more. Companies like BMW, Yamaha, Huawei, Orange, or Forbesfone use LiveAgent to deliver customer wow to 150M end-users worldwide.

4.) 
OneDesk

OneDesk's software combines Helpdesk & Project Management into one application. No need to purchase, integrate and switch between applications. Your team can support your customers and work on projects in one place. Aimed at SMBs as well as departments at large enterprises, OneDesk is frequently used by project managers, customer service, IT, professional services and more. This easy-to-use, feature-rich, and highly configurable software can manage both ticket & task workflows.

5.) 
Teckinfo Solutions Pvt. Ltd.

ActivDesk Help Desk Software
ActivDesk Help Desk Software is an intelligent ticketing software for multi- channel customer interaction & engagement. It streamlines the entire ticket management process. With its SLA & escalation management, it enables your help desk to deliver enriching customer experience.
 

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