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Everything changed as a result of the pandemic, including our way of life and work culture. Though the pandemic affected every sector of the world, it also pushed new technologies to the forefront, such as Augmented Reality, Virtual Reality, Artificial Intelligence, and Data Analysis, which we can now employ to better our lives and gain long-term advantages.
The majority of innovation is driven by new technologies – including business model innovation and changed customer behaviours – and how new technologies change our world and many markets. New technology has a significant impact on markets and market dynamics. This has always been the case, but in the digital age, it is happening faster than ever before. Over the last two decades, we’ve seen how digital technology has impacted many different sectors, including the BPO industry.
Establishment of Voice-Data Analysis
New technologies enable us to shorten the typical industrial age invention process. What used to take years of planning, testing, and execution is now completed in months, or in weeks. When new technology gets entrenched in our culture, it also promotes new customer habits, and these new behaviours represent possible new markets. When a new technology becomes available, organisations might potentially change areas inside their business to revalue entire business models and the entire market.
Voice analytics (VA) is the process of analysing a conversation using technology. Voice analysis tools record the dialogue and can also “translate” it into text. It analyses the speech and can even recognise the speaker’s emotions depending on what they’re saying, giving the supervisors a significant advantage in any type of client call.
Benefits in the Evolving Era
All technologies are born with a goal in mind. Search engines, for example, were built to sort through vast amounts of data on the internet. With each new upgrading technology, current technologies are combined to create something greater than what was before used. It goes on and on. It’s no surprise that many people have struggled to keep up with the rapid pace of technological innovation. To be fair, the scope of technology is so vast that condensing everything into a single blog post is nearly impossible.
Cost-Effective
Metrics: You may uncover QA (quality assurance) processes and customer service gaps with better data and analytics, which can ultimately pay you back in the form of higher customer retention and upsell/cross-sell opportunities.
Self-service: Voice analytics can help you find areas and questions where you can provide self-service solutions for your customers, such as FAQs or searchable knowledge bases, allowing consumers to solve more problems on their own and allowing your agents to focus on more complicated and high-value conversations.
Cost Per Call: You may lower your cost per call by using voice analytics data to better equip your agents to address issues faster and with fewer transfers.
Employee engagement: Staff attrition means new employees, which means more training cycles and associated expenditures. You may use voice analytics to boost agent performance and confidence, as well as make them happier at work (which will hopefully lead to lower attrition rates and lower training costs).
Accountability: PCI (Payment Card Industry) adherence and regulatory regulations, for instance, play a significant role in business today. Your voice analytics can help ensure that agents follow any standards, as well as prompt them about disclosures and other requirements, which can benefit you.
Track of keywords and subjects
Aside from statistics and stats, one of the most useful things you can learn from phone calls is what your customers think. You can utilise speech analytics to see how often your competitors’ names come up in conversations, how many people question about pricing, and other metrics. You can uncover “hot subjects” that come up regularly in calls with clients and prospects if you have a communications platform that provides accurate speech-to-text transcriptions of your phone calls—without having to listen to hours and hours of recordings.
Improve the real-time consumer experience
One of the primary advantages of using good voice analytics software is that it allows businesses to make real-time choices and actions. One of the great quality management aspects of technology is the ability to advise agents to proceed on a new path or intervene if a call is going poorly.
Lasting Result with ICCS
New technology has evident examples such as increased cost efficiency and a decrease in errors with customer experience. While it’s been around for over a decade, it’s only in recent years that advances in voice analytics have made it the hugely powerful tool it is. If the business faces a disruption, VA is a tool that can add value to the company’s growth. Many businesses are grappling with how to foster technologies to keep the business abreasting.
ICCS is a Business Process Outsourcing (BPO) organisation that provides new technologies. They assist businesses in standing tall by offering external assistance for their staff. ICCS employs world-class recruitment tactics and market insights to harness the benefits of cost reductions and scalability, as well as process perfection, in order to offer suited services that can help meet end-to-end needs. The most exciting thing about ICCS is the use of technologies that can operate in real time. Though, this gives agents and their managers up-to-the-minute data when they need it. Hence, the past few years have seen dramatic improvements with new technologies that support every system that works in binding and enhancing the growth potential of a company with fins and fangs.