How Speech Analytics is Proving to be Valuable in the Covid-19 Crisis

1. How Speech Analytics is Proving to be Valuable in the Covid-19 Crisis With the onset of Covid-19 and the rapid spread of the virus, most industries are witnessing a drastic change in the way customers and businesses are conversing with each other. It all began with passengers calling airline operators about the cancellation of their flights and refunds. Even insurers and healthcare facilities are inundated with customer queries. When it comes to the retail industry, the question they are facing is around the availability of products and safety measures being taken. Millions of people are facing financial constraints either because they have lost their job or because their pay has been delayed. These people are reaching out for support from the banking sector as well as the government with new and arbitrary issues. Coming up with answers to such queries in the most well-organized, compassionate manner is a huge challenge, particularly when your team is dispersed everywhere. If the supervisors are unavailable to help the team answer tough questions, they are likely to struggle. Challenges Contact Centers are Facing Today The Covid-19 pandemic has created the following challenges for contact centers: Out-of-contact self-service: Self-service arrangements in ​contact center solutions need constant updates and substantial adjustments to handle the intricacies and fast change that Covid-19 has

2. introduced. Today these contact centers need to carry a new crisis-oriented and digitally empathetic tone. Call surplus: ​Today customers are opting for voice networks over self-service. As we practice physical distancing, customers wish to chat with humans, specifically while dealing with life-changing situations. Many firms are witnessing call volumes grow 50% and more while they were sending staff home. Today, calls are getting longer and are often linked to critical matters. Analytics Solutions Demonstrating Value in Uncertain Times Speech analytics solutions can easily be used to handle rising inbound call volumes. Even as several contact center agents were transitioning to working remotely many firms were able to respond to calls for payment extensions, due to surge in unemployment. Speech analytics can potentially aid firms during these uncertain times that will help them comprehend the causes behind the enlarged call volume. Speech analytics solutions can also help determine when to expect payments and guess inbound arrival patterns. The short-term results show that companies were able to redirect resources from outbound dialing, keeping call abandonment rates under control even with agents working remotely. Besides, speech analytics supports quality disclosures and agent compliance. It also removed manual letter provisions and recognized web content that required updating, in addition to other process improvements. Assistance for Customers Speech analytics solutions have aided leading businesses cut working costs, implement regulatory compliance, locate and help address knowledge gaps, boost customer satisfaction and empathy, diminish customer churn and raise revenue. Today, these solutions are aiding firms to help their customers cope with this crisis. Together with solutions that record customer calls, speech analytics solutions examine all calls and cleanse the results into insights that divulge the following details: ● ● ● Key reasons for customer frustration and confusion The critical concerns and questions customers are calling for Modifications to digital and self-service channels that must be considered Equipped with this information, businesses are able to recognize key issues that are undeniably mission-critical. Such calls will be addressed by agents who can soothe customers' concerns, show them the way and offer data on all new initiatives addressing their anxieties. Speech analytics solutions can also recognize customer confusion flashpoints and resolve the root cause of such concerns. Assistance for Agents and Businesses Speech analytics solutions can help ensure that there is no disconnect between frontline employees and media initiatives, particularly when guidance and policy changes so often. It can also securely align the content on digital networks with the content contact center agents share with customers. The solutions can stop customer attrition by offering insight into 3 key areas: ● ● The modifications needed to sustain employees and, eventually, the business. The prominence that often supervisors and managers lack to guarantee effectiveness, compliance, and quality.

3. ● The difficulties that affect work-at-home members’ ability to serve customers Your customers will remember all about these extraordinary days, and how they were dealt with by companies and the support they received, and speech analytics tool will go a long way in addressing their concerns.