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Creating an International Roadmap : Overcoming the Challenges of Deploying Speech Globally

Creating an International Roadmap : Overcoming the Challenges of Deploying Speech Globally Amy E. Symms VP, Global Operations & Technology GE Consumer Finance. Overview of GE. A major, global, diversified player Among the world’s best companies

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Creating an International Roadmap : Overcoming the Challenges of Deploying Speech Globally

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  1. Creating an International Roadmap: Overcoming the Challenges of Deploying Speech Globally Amy E. SymmsVP, Global Operations & TechnologyGE Consumer Finance

  2. Overview of GE • A major, global, diversified player • Among the world’s best companies • 20-year history of consistent, substantial financial growth in financial services

  3. The New GE Growth Engines Commercial Finance Energy Transportation Infrastructure Consumer Finance NBC Universal Healthcare Equipment Services Insurance Advanced Materials Consumer & Industrial Cash Generators Genworth IPO

  4. 41 Countries = 106MM+ Customers, $108B Assets • Japan • Argentina • Korea • Australia • Latvia • Austria • Belgium • Mexico • New Zealand • Brazil • Norway • Canada • Poland • China • Portugal • Czech Republic • Romania • Denmark • Russia • DOMS • Singapore • Finland • Slovakia • France • Slovenia • Germany • Spain • Hong Kong • Sweden • Hungary • India • Switzerland • Indonesia • Taiwan • Thailand • Ireland • United Kingdom • Italy • USA

  5. GE Consumer Finance • 41 countries, 180 customers • Lowes > Harrods • Gap > Tesco • JCPenney > Coles Meyer • Walmart > Hyundai • Over 106 million account holders, $108 billion in assets • Products include private label credit cards, personal loans, bank cards, and more • Sales and service through multiple touch points

  6. Corporate Initiative:Turn Call Centers into Profit Centers • 216 million inbound calls expected in 2004 • 9 million potential Service to Sales transactions • Opportunity over $13 billion

  7. Technical Objective:Use Speech to Improve Productivity • Eliminate call hold times • Enable natural conversations • Decrease abandon rates • Expand customer reach (cell or pulse) • Most important to profit generation: • Extend reach • Increase opportunity to cross sell • Reduce operating expenses

  8. U.S. Pilot:Change of Address Touch Tone IVR – at Entitlement Total Call Types to The Floor 100 60% 53.3% 54.1% 52.2% Authorizations 7% Payments 14% 50% 44.9% Credit Cards 9% 80 42.4% Balance or Refund 12% 40% Changes/ Fees 11% 60 30% # of Calls (MM) 40 Applications 11% Close Account Requests 12% 20% 20 Name/Address/Phone Changes 12% 10% Credit Limit 12% 0 0% 1999 2000 2001 2002 2003 Total Calls IVR % IVR Utilization

  9. U.S. Pilot:Change of Address • COA – Target on a Call to Floor (no IVR interaction) • Pilot a success: • 80% of all callers tried speech • 90% speech recognition rates • Next step: Customer Service • 29 applications in all

  10. Rollout to U.S. Customers • Expand across retailers • Focus on technology hurdles • Customer acceptance • Customization

  11. A Different Game Outside the U.S. • Multiple languages • Naming conventions • Cultural norms • Availability of postal data

  12. U.K. Pilot:Speech Used to Authenticate Callers • 75% of callers opted to try speech • 94% speech recognition accuracy • Improved authentication rates • Improved IVR effectiveness • Proved speech works • Significant savings anticipated

  13. Call Flow: Authentication Please enter your Card Number or your Membership Number No More than3 times? Recognize? Transfer to Operator No Yes Yes On the third time, announce that the caller may use touch tone. Is it 12345678? No Recognize? More than3 times? Transfer to Operator Yes No Yes On the third time, announce that the caller may use touch tone. Next guidance

  14. Japanese Pilot:Speech Streamlines Centralization • Speech for authentication • Enabled centralization • Challenges included: • Anticipated volume • Large hang-up rate (50%) • Multiple dialects

  15. Achieving Success:Speech in Support of Corporate Strategy • Drive productivity • Pilots created buy-in • Standardizing across sites • Tailored for clients

  16. Our Success is Measured in: • Strong performance • Completion rate • IVR effectiveness • Productivity • Objectives met • Data on increased sales • Cost / Benefit • GE requires ROI in 12 months or less

  17. More International Rollouts in 2005 Q1-Q2 Q3-Q4 U.K. Germany France Poland Mexico Australia

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