The experience of many companies, in various vertical markets that have installed this technology, is the realization of a ROI in the amazingly short period of less than one year. You can estimate how advanced speech recognition technology might pay off for your company by performing a typical ROI analysis. Identify the business processes you want to automate with speech technology. Complex interactions containing multiple pieces of information, transactions comprised of long lists, and those containing dates, times, currencies or locations all are good candidates for speech automation. Such a ROI model doesn t consider the competitive advantages of a more satisfying caller experience that a system enhanced with advanced speech processing technology will bring to your business.
Speech technology reduces the cost of call center operations by reducing talk time.
Eliminating the need for complex menus allows callers to state the purpose of their call directly. Instead of wading through a series of menus, your customer can get down to business and be off the phone in a fraction of the time it takes without speech enhanced systems. The caller experience is also improved because of the smooth flow and convenience of the application. Because speech transactions flow more easily, many customers are inclined to perform additional transactions, thereby increasing your savings and creating more time for new revenue opportunities. In one example, a brokerage company witnessed more customer quotes being automated, which resulted in increased trades.