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The business value of Speech Analytics

Speech Analytics helps improve business performance


More details:

Increase «customer satisfaction» with 

Business benefit / How?
Expected outcome
Improving NPS
  • Measure customer satisfaction during calls
  • Understand what makes customer happy and what not
  • Reduce the number of NPS calls
  • Coach agents (and measure performance) based on real calls
  • Increase NPS – and measure (understand) development dynamics
  • Reduce the number of after-care calls
  • Coach agents based on facts
  • Reduce supervisor time spent on listening to calls
Sentiment analysis
  • Analyze sentiment in all the calls and measure dynamics based on agent, product line, time, etc.
  • Understand what makes customers happy and follow the same path to sell more
  • Identify and eliminate “problems” early
Defining the next best action
  • Evidence-based assessment of which action/reply led to success
  • Automatically propose best practice on reply/action by prompts on agent screen during the conversation
  • Understand what makes customers happy and follow the same path to sell more

«Finance» benefits of 

Business benefit / How?
Expected outcome
Reducing costs
Reducing AHT (average handling time)
  • Detect and eliminate the reasons for long calls
  • Identify areas for automation
  • Identify and eliminate broken processes
  • Identify employees’ training needs
  • Most companies receive up to 50% of «easy» standard questions -> automation
  • «Broken processes» can free up to 30% agent time
  • Coaching based on «best practice» can reduce call duration up to 20%
Optimizing Workforce
  • Analyze and optimize workforce planning based on real skill needs (which skill is needed at what time for which product?)
  • Optimize agent coaching and training based on customer demand
  • Reduce the need for highly qualified «super agents»
  • «Optimized skill» planning can reduce the workload up to 20% and increases employee and customer satisfaction
  • Optimized training can reduce AHT and increase employee and customer satisfaction
Increasing revenue
Preventing Churn/Ensuring customer retention
  • Understand why customers are not satisfied with our services/products
  • Identify early warning signals of customer frustration (possible leavers)
  • «Happy customers» buy more products/services
  • Most customers leave after a call – understand the «signals» and provide special offers
Optimizing Sales
  • Identify and measure best practice sales calls
  • Identify (and coach) low performing agents
  • Measure and increase script adherence
  • «Best practice» can boost sales by up to 20%
  • 2% of low performers are responsible for 10% of customer frustration
  • Good «script adherence» can increase sales by 10%
Cross-sell & Up-sell
  • Identify signals for cross-sell and up-sell potential
  • Measure and increase cross-sell and up-sell
  • Display «up-sell potential» on agent desktop based on conversation
  • Understand how to measure success of campaigns based on evidence
  • It is easier to sell new products and services to existing customers
  • Increase success rates of campaigns
  • Increase up-sell attempts and related success rates

Increase «quality» with 

Business benefit / How?
Expected outcome
Improving FCR (First Contact Resolution)
  • Understand and reduce reasons for call forwarding
  • Improve agent tools
  • Improve agent coaching based on personalized needs
  • Less customer frustration due to FCR
  • Reduce AHT
  • Increase employee satisfaction and employee retention
Understanding on-hold time & reason
  • Understand and reduce reasons for «on hold»
  • Simplify and automate processes
Identifying best practices
  • Measure KPIs in all the calls and build «best practice» guidelines based on factual evidence
  • Reduce AHT, improve customer satisfaction, increase cross-sell and up-sell, etc.
Understanding customer effort
  • Understanding how much effort is required from a customer to complete a process
  • Identify high-effort areas for business process re-design
Skills management
  • Understand which skills are required (quantity and time)
  • Optimize work force planning
  • Reduce required resources
  • Optimize skills requirements
Language management
  • Understand which skill and language combinations are required (quantity and time)
  • Understand which skills are required (quantity & time)
  • Optimize work force planning
  • Reduce required language resources
  • Optimize language and skills requirements
Providing coaching support
  • Support supervisors/coaches in finding the relevant calls
  • Manage based on examples and facts
  • Reduced time for monitoring
  • Reduced time for coaching preparation

Foster «innovation» with 

Business benefit / How?
Expected outcome
Improving intent and duration correlation
  • Understand why your customers call
  • Understand reasons for long calls
  • Understand why customer are not using self-services
  • Understand what increases or decreases call duration
  • Getting it right to offer more self-services and automation
  • Understanding which processes should be optimized (and provide evidence base for it)
Identifying «multi-intent» calls
  • Measure and optimize multi-intent calls
  • Provide forwarding to self-services (reduce AHT)
Understanding recurring patterns
  • Understand why FCR is not working
  • Optimize processes for FCR
  • Reduce number of (recurring) calls
  • Improve customer satisfaction
Identifying automation potential as FAQs
  • Understand which customer requests can be processed automatically (provide facts)
  • Monitor FAQ automation – provide statistics on automatically processed conversations
  • Provide evidence base for self-services and automation projects
  • Provide automated services 24x7
Feeding continuous process improvements
  • Understand which processes are broken or require optimization
  • Measure improvements after process optimization
  • Improve customer- and employee-satisfaction
  • Reduce AHT and increase FCR
Managing multichannel orchestration (in- and outbound)
  • Monitor and analyze channel orchestration (e-mails, voice, text, self-services, automation, etc.)
  • Ability to start customer conversation with a text-bot, continue with an agent and close with a voice-bot
  • Provide different channel support based on customer demand
  • Quality services delivered to customers on their preferred channel

Reduce «risk» and increase «compliance» with

Business benefit / How?
Expected outcome
Managing and optimizing «special processes»
  • Follow the complete interaction with customers for each process with no standard procedure (e.g., specific countries, specific type of customers)
  • Ensure compliance without the need of having two people on the call to check adherence to rules and regulations
Measuring script adherence
  • Follow the complete interaction with the customers
  • Ensure that agent followed the defined script (no need for additional checks, call listening, etc.)
Speeding up ordering, onboarding and contracting processes
  • Create a pre-defined script for contracting processes, which can be followed and recorded
  • Proof of legally binding contract concluded (e.g., all the required answers to obligatory questions received)
Improving customer data quality
  • Understand each relevant change of data (e.g., address, marital status, etc.)
  • Inputs for CRM and other systems

Increase «employee satisfaction» with 

Business benefit / How?
Expected outcome
Auto-feeding to CRM
  • Auto-feed customer conversations into CRM and BI
  • Employees do not need to update CRM manually
Preventing employee churn
  • Measure employee sentiment during a defined period
  • Find «early warning signals» of frustrated employees based on call behavior
  • Compare tenure, teams and individuals
Personalizing training
  • Analyze how employee execute different processes and empathize with customers
  • Identify gaps in training / information for employees (for individual and groups).
  • Analyze all the calls by one specific employee – and use for coaching
Understanding who are the top- and low-performers
  • Provide related support and coaching
  • Define «best practice» and measure against it, automatically
  • Find out who are the top performers and the low performers based on defined performance KPIs
  • Compare tenure, teams and individuals
Estimating e-NPS
  • Measure e-NPS
  • Assess employee morale and commitment to the employer
  • Compare tenure, teams and individuals

Speech Analytics helps improve business performance in many areas

Speech Analytics helps improve business performance in many areas