Speech Analytics, when used effectively, can identify Customers’ Needs & Expectations and can indicate the area of opportunities for improvement at both levels – Agents & Business. There are countless benefits of speech analytics as this latest technology helps companies derive actionable insights needed to improve sales, improve agent performance, enhance customer satisfaction, gain marketing intelligence and drive other key metrics.
The faster a business can analyze interactions content, the better its ability to take necessary steps to improve its processes and policies. Speech technology is extensively used across call centers. With the evolution of cloud computing, speech analytics software can be delivered through a SaaS option, which brings this technology within the reach of even small contact centers.
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Benefits of Speech Analytics
Long term Growth:
- Customer Retention – You need to know the reasons of churn, so you can work on them
- Boost Revenue – Identify more opportunities of upsell & cross sell through easy as well as complex applications built in a just a fraction of time
- Improve customer experience – Customer emotion detection technology helps, because happy customers give more Business
Long term Savings:
- Improvement in First Call Resolution – Call driver analysis helping in reduction of repeat calls on same issue
- Process Optimization – Helps in addressing key operational issues, giving you insights needed to fix internal processes
- Better Fraud Detection – Helps minimize fraudulent practices on sales/after sales calls
- Better Compliance Adherence – A cost effective method to keep close checks on agent compliance
Speech Analytics is one of the fastest growing segments in call center management technology market. By 2020, it is going to be a billion dollar business and special tool to make strategies for the business hubs to improve in every term. MattsenKumar has partnered with VOCI Technologies has its own unique Speech Analytics Suite known as MK SmartSpeech for an effective solution.