At the forefront of a corporate push in the call center industry is a real-time analytic that offers instant actionable insight. It turns your calls into text that means your output is now meaningful and qualifiable data. Before we dig deeper let’s take a step back and look at the current process for quality assurance in your run of the mill call center.
If you review 1% of calls you’re hitting the industry standard if you happen to have an overachiever in your quality assurance department and achieve a whopping 2% your ahead of the curve. Let’s say you have 50 agents doing 8 calls per hour and working 8 hours per day, that’s a total of 3,200 calls per day. 1% of those are being checked by a quality assurance agent.
Let that sink in, 1% of 3,200 calls are checked per day.
There’s no way of knowing what those other 3,168 calls contain.
Take those 3,200 calls and run them through our speech analysis engine and now you just went from 1% to 100%. The key here is nobody has to read or listen to every single conversation. We work with you to setup your compliance standards and script that way when you have a problem or positive interaction it’s right at your fingertips.
Enough about Contact Cubed and our product, here’s some general research on the impact of speech analytics on call centers.
Research by DMG Consulting indicates that speech analytics in call centers pays for itself in less than one year, and Techtarget reports that it pays for itself in as little as three months. According to an Opus Research Survey, an overwhelming 72% companies believe that speech analytics can lead to improved customer experience, 68% regard it as a cost saving mechanism, 52% respondents trust that speech analytics deployment can lead to revenue enhancement.
Sounds good, right?
Now what about the benefits of speech analytics.
- • Reduction in headcount from automation of call monitoring and compliance checking.
- • Avoidance of fines and damages for non-compliance.
- • Avoidance of live calls that can be handled by better IVR or website self-service.
- • Reduced cost of quality assurance and monitoring.
- • Lower new staff attrition rates and recruitment costs through early identification of specific training requirements.
Speech analytics is one of the fastest growing areas of the callcenter markets and for good reasons, with recent advancements in AI & CI why wouldn’t you leverage that to optimize your day to day operations? From compliance to performance and even agent churn reduction speech analytics can improve your numbers.