Posts Tagged ‘speech analytics’

Contact centres: Speech Analytics finds the problems. Call Analyzer solves them.

Tuesday, December 6th, 2011

99% of speech analytics solutions work in the same way. By processing hours of ‘post-call’ voice recordings from a period of time within the contact centre, each system in their own way will deliver reports on different types of searches: from identifying instances of key words or phrases to more sophisticated ‘trend’ and ‘root cause’ analysis. The latest innovation is completely different. GemaTech are the only vendors to analyse, train and monitor all agents simultaneously and automatically on every live call to drive down quality monitoring costs.

The problem with current speech analysis is that the organisation has to turn the analysis output into meaningful and targeted training in order to have an impact and improvement on front line service provided by the agents. But it doesn’t stop there…in order to find out if the training has been effective you still have to monitor and measure every agent to discover whether the training, and therefore analysis, has had any kind of positive impact on improving customer service and increasing first call resolution. Often the amount of analysis data that is produced can be massive, requiring time and effort to be translated and more often than not this can end up falling into the preverbial black hole!

Not any more. GemaTech have chosen a different path. Whilst other speech analytics vendors have decided to diversify into analysis data held in CRM solutions, social media and email, GemaTech have decided to tackle the voice issue head on. By providing a solution which doesn’t analyse voice recordings, but analyses conversations as  they happen, the focus is placed on helping the agent during the call and effectively cutting out the back end processing requirement. Therefore analysis, training and measurement takes place simultaneously and automatically – requiring no manual intervention from analysts, team leaders or training staff. As a bonus all calls are analysed, all of the time, not just a sample of calls.

For more information call Karen at GemaTech on 0845 345 8718 or email me at k.jones@gematech.com.

How to achieve contact centre compliance and minimise financial risk with new live speech analytics

Tuesday, November 22nd, 2011

Achieving consistent compliance is high on the agenda of most regulated organisations due to the increasing risk of crippling financial penalties. New live, on-call, speech
analytics technology can enable such organisations to minimise their risk while at the same time increase operational efficiencies and improve quality assurance.

For contact centres selling finance, insurance, mobile phone contracts, utility contracts or even tasked with debt collection (to name but a few), there are certain key statements which have to be said when talking to customers over the phone. Neglecting to ask key questions such as “this is a five year contract, are you happy to go ahead?” can make a contract null and void or leave the organisation open to non-compliance penalties by industry bodies such as the Financial Services Association (FSA) and more recently in the media Ofgem who have imposed multi-million pound fines on an increasing number of the “Big 6” energy suppliers.

By way of example, one particular mobile phone retailer was fined £245,000 in 2006 for not treating its customers fairly following telephone sales of general insurance. Rather than telling the customer over the phone information such as features and benefits of the mobile insurance policy they were buying, how long it lasts and the duration of the ‘cooling off’ period, they planned to send out a written document following the call instead. However 118,000 customers never received the document, and therefore the fine was issued. What’s more because the FSA was not informed of the system’s failing in a timely manner the fine was particularly harsh.

This organisation experienced a dilemma shared by many call centres. They had a choice to either train their telesales agents to remember to give and obtain essential information during the call, or choose to send written documentation after the call. The latter of which clearly failed.

Human error or system error: both can be avoided, but historically it has proved harder to prevent human error. How many senior managers have had one of those moments when a poorly handled call, or series of calls has led to particularly bad PR or direct loss of revenue?

The first generation of speech analytics solutions in use today aim to pinpoint calls and agents that are non-compliant by analysing hours of voice recordings, but unfortunately not before the damage has already been done. Call backs to the customer are then required to rectify the situation which can reduce first call resolution and increase customer dissatisfaction and call handling time.

While many of the first generation speech analytics vendors have moved sideways into providing multi-channel analytics (to include data analysis of emails, SMS texts, Tweets etc.), there is one vendor that has focused on perfecting the ability and benefits of live, on-call, speech analytics. GemaTech’s new Call Analyzer monitors and analyses calls as they happen on agent by agent basis, enabling an interactive desktop prompt to commend or correct every agent as their call progresses. Not only are calls now recorded for compliance purposes, but every call is monitored and analysed automatically so that cases of non-compliance are instantly highlighted to both agent and supervisor providing the ability to address the issue before the call is finished.

Speech Analytics: 5 Key Problems Solved

Friday, October 14th, 2011

While many speech analytics vendors are moving into ‘interaction analytics’ to incorporate analysis of data from emails, SMS texts, CRM systems and online social media, one company have remained focused on getting the speech analytics part right by fixing all the problems that the first generation speech analytics have left in their wake.

GemaTech have harnessed this speech analytics ‘gold’ and have developed a solution that solves the 5 key problems

 

Problem 1:   My Voice Recording supplier won’t give me access to my voice recording files making speech analytics too difficult

Solution: GemaTech’s Call Analyzer is a completely stand alone solution which doesn’t require any integration with any existing call recording equipment. Simples.

 

Problem 2:  I need to employ expensive specialist speech analysts to configure the analytics system

Solution: Most speech analytics solutions require some amount of ‘training’ to be fully configured and therefore require the services of a professional speech analyst, but GemaTech’s Call Analyzer has done the hard work already. Just type in the key words and phrases you want the system to search for and a handy tool will create the breakdown of individual phonemes, as well as telling you if the phrase is maximised for search accuracy. So anyone can configure the system with half a day’s training.

 

Problem 3:  It’s taking months to get the speech analytics system working!

Solution: Firstly Call Analyzer is a ‘plug and play’ solution with no integration to voice recording equipment required. Secondly anyone can be trained on configuring the solution in around half a day. Thirdly no on-going professional services are required, meaning that benefits can be realised within the first few days of installation.

 

Problem 4:  The speech analytics system is generating so much data that it can’t easily be turned into actionable benefits

Solution: For those companies who have successfully installed a speech analytics solution, I have been told that often so much data is produced by the system that turning the data into real tangible benefits which can improve agent performace on the phone, is slow, if done at all! Call Analyzer however cuts out this process. By anlaysing calls as they happen and prompting agents as a result of what is being said to the customer at-that-precise-moment, there is no need for back-end processing. The benefits and training go directly to the individual agent as each call is happening.

 

Problem 5: The costs of this speech analytics solution just keep going up and up!

Solution: Upgrades, professional services, system training….suddenly the price you originally agreed on for your speech analytics solution is going up and up and you are powerless to say no. Not so with Call Analyzer….there are no hidden costs. What you see is what you get and upgrades are included in the price.

So, take another look at speech analytics and tell me if any of these problems ring true with you. Are there any others I’ve missed? What are your experiences? Do you think such a system is too good to be true? Call me…challenge me…

Social Media Measurement Now Includes Speech Analytics

Thursday, July 7th, 2011

Social Media offers a wealth of market research which businesses ignore at their peril. Straight from your customers via Twitter, Facebook and other social media sites comes the truth about your products, service, reputation and competitors. Not their thoughts from last week or yesterday but their thoughts from minutes or even seconds ago. And data analytics tools are quick to monitor, capture and analyse such interactions. Speech analytics has lagged behind such data tools…until now. (more…)

Live Speech Analytics Could Have Saved Banks Millions on PPI Pay-Outs

Tuesday, May 10th, 2011

 Banks could have been in a better position to identify costly PPI (Payment Protection Insurance) miss-selling mistakes by using new live speech analytics, saving them hundreds of millions, if not billions of pounds on customer pay-outs.

New, emerging speech analytics technology can help any organisation, and in particular highly regulated banks, be in a position to know exactly what is being said, or sold, during or straight after every phone call handled by their call centre agents.

Analysing all calls as they are occurring gives supervisors the ability to identify errors or omissions and help agents rectify calls to protect the customer, and at the same time save the company millions in regulatory fines or customer compensation.

New Live Speech Analytics can identify miss-selling – innocent or otherwise

Speech analytics solutions have been around for a number of years, providing post-call trend analysis for call centres. Due to limitations in processing speed and prohibitive costs, only a selection of all voice recordings were actually analysed to provide valuable insight into customer and agent behaviour.

Now a new generation of speech analytics technology is emerging via specialist vendors which is taking ‘first call resolution’ to the next level, enabling companies to avoid any risk of miss-selling earlier, to recover quickly from mistakes, or at worst detect them. New speech analytics solutions include the ability to analyse every call as it is happening, in turn triggering live prompts to an agent’s or supervisor’s screen. Any keyword or phrase can be searched for. Any question and answer combination can be used as a trigger to prompt an agent to change the course of their conversation during a call. And all the time supervisors can see a real-time picture of what is being said in their call centre without having to physically listen to calls. Future enhancements will even see speech analytics identifying different customer emotions, giving supervisors the ability to flag up angry or distressed customers or agents in real-time.

Applying new live speech analytics technology could have helped identify the most inappropriate sales of PPI, giving agents the chance to rectify a miss-sell, thus saving the banks an embarrassing apology and hundreds of million of pounds worth of pay-outs.

Yesterday Barclays, HSBC and RBS (via the BBA, British Bankers Association) followed Lloyds’ example and chose to back down in their legal fight over the miss-selling of payment protection insurance (PPI). The insurance policies are designed to pay out for customers who have been made redundant, or are on long term sick leave in order to cover mortgage, loan or credit card payments. However the self- employed can never be made redundant and those with existing health issues are not necessarily eligible for policy redemption claimed due to extended sick leave.

Compliance is paramount in avoiding fines and compensation

Miss-selling is just one of the many issues around compliance affecting banks, insurance companies and financial enterprises today. Such companies need to demonstrate to the Financial Services Authority (FSA) that they are trading compliantly including voice recording calls made and received over traditional landlines, and in some cases mobile phones. Live speech analytics can ensure 100% compliance on every phone call handled by every call centre agent in a cost effective way that does not require expensive professional services or costly integration with existing voice recording equipment. Indeed the Return on Investment (ROI) of deploying such a solution can be realised, in some cases, in less than a year!

For more information on next generation live speech analytics and how it can help save your company millions of pounds, contact GemaTech on 0845 345 3333 or visit our website at www.gematech.com.