Let’s talk business. I’ve shared our funky Beginner’s Guide to Speech Analytics and examples of data that it can help you uncover.

Today we come to the most important topic: how to use Speech Analytics to your advantage. Here are the first three of six Speech Analytics use cases with examples of voice communications done right.
Simple transcription

Pure transcription – get insights from each call

Investment required: $$$$$

Problem: Efficient and cost-effective transcriptions play a key role in helping contact centers improve agent performance, drive sales, enhance customer support and ensure compliance. But the costs and delays of manually transcribing calls make this a prohibitive process.

Solution: Voxbone offers an automated connection to transcriptions services as part of its Speech Analytics solution. Customers can automatically record each call and either send it to a transcription engine on their enterprise networks or have it automatically transcribed by a Voxbone partner. Users receive a written transcription of each call in minutes.

Example: Insurance companies use pure transcription to protect against litigation. They perform contextual searches on voice calls to make sure agents aren’t over-promising policy coverage, for example. Banks similarly use pure transcription to identify and mitigate potential over-commitments on future investment returns.

In general, pure transcription allows contact center agents to easily access stored transcriptions. It reminds customers exactly what they ordered and when they ordered it, to minimize order cancellations.
PCI_redaction

PCI Redaction – exclude sensitive data

Investment required: $$$$$

Problem: Identifying and masking sensitive information in contact center calls is essential for protecting customer privacy and complying with relevant regulatory requirements, such as Payment Card Industry (PCI) regulations for securing credit card information. The ability to redact PCI-protected information from call center recordings and their transcripts helps organizations secure sensitive information.

Solution: Speech Analytics services allow organizations to have more control over call recordings by automatically redacting sensitive information based on company policies and compliance requirements.

Example: Any business that deals with credit card information over the phone has to follow PCI rules to avoid making customer credit card information readily available to employees. A Voxbone analytics partner will redact the sensitive information and push the recording and the transcription to the enterprise. This allows businesses to eliminate the need to store this kind of sensitive information on their enterprise networks. At the end of the day, it’s a safeguard against potential litigation.
General CS improvement

General contact center improvement – increase efficiency

Investment required: $$$$$

Problem: Large-scale contact centers typically address multiple challenges and try to resolve them through a measurable improvement process. Here are the most common areas that require constant improvement:

  • Reducing call times
  • Improving agent efficiencies
  • Enhancing customer satisfaction levels
  • Resolving customer issues on the first call
  • Improving sales performance and driving down costs

Solution: By categorizing calls and enabling the ability to sort and filter calls via a web-based dashboard, organizations can improve operations and develop standardized training programs to improve contact center operations. They can use speech analytics to rank agent performance: if every three months you replace the bottom-performing 10 percent of your agents, and rehire better performers, you’ll have made major improvements in your contact center in a short amount of time.

Example: Call recording and speech analytics allow contact centers to address multiple process improvements at once. We cover some examples in a recent post on CallMiner, one of our Speech Analytics partners. You can also watch their video below for more info: