Financial Chronicle
You can now save yourself from the hardship of having to press digits back and forth on your cellphone after listening to instructions on the IVR, with speech-enabled systems.
With increasing level of corporate awareness, speech-enabled IVRs are said to grow at least four times in the next 18 months.
“This segment has seen a really big spurt in the last two years,” said C Mohan Ram, managing director, LatticeBridge Infotech, part of the Tenet Group at IIT-Madras.
The reason is the increased quality consciousness and pressure on costs, especially on deploying manpower, he added.
Businesses with several consumer touch points namely banks, telecom and transportation are the major users of IVR. These sectors face cutthroat competition and most of them are in survival mode. They are under severe pressure to get returns on every rupee spent on services, said Sunny Rao, general manager — ASEAN and India of Nuance Communications.
The global company offers the technology platform to most speech recognition players in India. One painful call-centre experience is enough to cause customer churn, he added.
Speech-enabled IVRs help to increase call completion rates before reaching the call centre agents. Mohan Ram said, one of the company’s telecom customers saw call completion rates go up to 80 percent from 20 percent in just six months after setting up a speech-enabled IVR solution. LatticeBridge offers the solution in 11 Indian languages and English.
K Sheker, director and co-founder of Bay Talkitec said speech-enabled IVRs might cost more than double that of normal IVRs. Companies are preparing themselves to spend extra money on technology.
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