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Companies with contact centers that deliver excellent customer service reap the benefits of repeat customers and happy employees, and many of them use speech analytics software. It has been found that customer-centric companies were 60% more profitable than other companies that do not focus on the customer. It is worth it for customer service departments to invest in their agents and resources to be able to provide that level of service.
One area that contact centers should focus on is quality assurance. Implementing speech analytics is a tool that can help empower quality assurance staff to better watch out for mistakes.
This technology has vastly improved over the years and can allow contact centers to enhance their company by analyzing and making recommendations on the way agents interact with customers. Quality management can hold people more accountable for their work this way.
With speech analytics, there is the capability for quality assurance staff to monitor all phone calls to ensure agents are meeting expectations. After all, there is still a lot of merit to phone calls in the contact center. Phone calls are still a top choice for customers wanting to reach out to a customer service representative. A total of 76% of customers will contact customer service over the phone.
Customer Service holds more power than many may realize, as they can make or break customer relationships. Using speech analytics to scale quality assurance in the contact center will ultimately lead to better customer satisfaction and therefore more business.
How does speech analytics software work?
Speech analytics software relies on artificial intelligence to monitor 100% of calls completed in the contact center. It combines speech recognition software, text analysis, and pattern spotting to review conversations and present relevant data to those monitoring agents.
It has the capability to deliver immediate feedback, search for set keywords, show which agents stand out based on positive results, and allows you to see the customer experience holistically.
Currently, it is a billion-dollar industry and the global market is projected to reach $3.8 billion by 2025. It also has the ability to transform quality and compliance, improve CX and ROI, and drive agent performance.
What does speech analytics do for QA teams?
There are many benefits to utilizing speech analytics and it can easily be built into your CRM for added convenience. While automation is very useful, it should never completely replace human beings in the workplace. It is meant to aid your team and speech analytics is a perfect example of how a quality assurance team can take automation and work towards a higher standard. The following are some of the ways this technology can assist the QA team in meeting their goals.
Agent accuracy
When a QA team is able to more efficiently monitor agents, they can catch more mistakes. Whether it’s in terms of compliance or going off script, speech analytics can display any errors by listening to all calls. Quality assurance members can’t listen to every call on their own and they no longer have to pick random calls to listen to. Recording things like the language that was used and tone of voice, by both the agent and the customer, also gives great insight on how well the agent is doing and how the customer feels.
Better evaluations
Evaluating workers is a key component to better performance. Agent performance KPIs can be adjusted accordingly and they will have a greater understanding of their strengths and weaknesses. This also identifies areas where re-training may need to occur and how to properly train incoming staff, as well.
Quality coaching
Speech analytics software does a lot of the grunt work so that staff has more time to focus on other things, such as coaching customer service representatives. Providing one-on-one coaching sessions allows a more targeted approach for each individual to work on their skills. This also gives new or more experienced agents a chance to ask questions and speak up if they’re struggling with something.
Useful analytics
Speech analytics software gathers data as it goes and reports it to quality assurance staff. Having solid numbers allows a department to better assess how they implement policies and see where they can reduce numbers to save both time and money. For example, if wait times are too long that is ultimately bad for business, and by knowing this, agents can work to reduce that time.
Aids remote work
Remote work is on the rise and speech analytics are an option for better managing remote staff. When customer service representatives are working from home then it can be a little more difficult for managers to see and address issues. With this technology quality assurance can still maintain the same standards as an in-office staff.
As technology continues to advance, companies will increasingly incorporate it into all aspects of their business. Customer service is no exception. Ensuring that quality management has all the tools they need to complete their jobs to the best of their ability is a vital aspect of having a fully capable customer service department. Speech analytics has a lot to offer and LiveVox’s AI-driven speech analytics software can help drive performance in your contact center.
