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Speech allows your callers to

just by talking!. Speech allows your callers to. conduct business,. TODAY, over any network. SpeechWorks at a Glance. Tier 1 Financial Services Healthcare Travel & Hospitality Telecommunications. Tier 2 Retail Utilities Government. Founded 1994, Headquarters Boston, MA (SPWX)

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Speech allows your callers to

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  1. just by talking! Speech allows your callers to conduct business, TODAY, over any network

  2. SpeechWorks at a Glance • Tier 1 • Financial Services • Healthcare • Travel & Hospitality • Telecommunications • Tier 2 • Retail • Utilities • Government • Founded 1994, Headquarters Boston, MA (SPWX) • Core Software: • Automated Speech Recognition (ASR) • Text – to – Speech (TTS) • Speaker Verification • Technology Origins: MIT • 320+ people around the world • Market Leadership 2001 #1 in market share* (2001 Rev. 45m +49% growth) • Vertical Focus:

  3. Why Companies Deploy Speech… Source: Kelsey Group ROI Study, June 2002

  4. Kelsey Group ROI Study Highlights Source: Kelsey Group ROI Study, June 2002

  5. Speech Delivers Value • Reduce Costs • Increase Customer Satisfaction • Competitive differentiation • Revenue generation

  6. Reduced Costs: Amtrak • Before • Annual call volume: 2.8 million calls • Touch Tone VRU handled 42% of all train status calls (1.2 m calls) • After • Speech-activated train status app deployed September 2001 • Speech handling 72% of calls

  7. Reduced Costs: United Airlines Flight Information • “United Airlines flight information system has taken over 50 million calls since it went live at the end of 1999 and has saved UAL over $25 million.” • Bob Bongiorno, UAL - Managing Director of Customer Service SpeechWorks 2002 Global SpeechDays Event

  8. Purdue University Banking Call Center Study • …provide compelling cost savings. • Agent-assisted calls cost ~ $4.00 • ASR calls cost only 45 cents! According to a benchmark study on bank call centers by the Center for Customer-Driven Quality at Purdue University… Speech-enabled calls… • …improve Customer Service and save time. • Speech interaction reduces call time by 35%, compared to touchtone • …free agents from low-value calls, which… • …can last almost five minutes • …have an abandon rate of almost 6% • …have an average hold time of 37 seconds Source: Purdue University, December 2001

  9. Gartner Customer Satisfaction Study: Satisfaction Comparison Touch Tone vs.Speech Recognition Internet vs.Speech Recognition Note: 2% Unsure Source: Gartner SpeechWorks Customer Satisfaction Study, 2002

  10. Respondents ‘Top of Mind’ Reactions Source: Gartner SpeechWorks Customer Satisfaction Study, 2002

  11. Customer Satisfaction: Citibank Germany • 5 Year Target Reached in 5 Months – and still rising! Buy & Sell Orders Placed by Phone Buy & Sell Orders Placed by Phone 100% 100 90 80 70 60 Percentage of Orders Executed on the IVR Percentage of Orders Executed on IVR 50% 50 40 30 20 10 10% 0 1 3 5 7 9 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 11 13 15 17 19 21 23 25 27 29 31 Weeks Since Deployment Weeks Since Deployment • Expected results for stock quoting/trading application • Ramp-up rate was based on experience in persuading customers onto existing Touchtone IVR Systems

  12. Competitive Differentiation: CIBC Adopted and deployed speech across 4 business units: • Speech-activated retail banking allows customers to: • Register and pay bills from any phone • Re-order checks and locate bank branches and bank machines • Speech-activated discount brokerage service allows customers: • To place equity trades, review account information and open orders • Speech-activated mortgage service allows customers to: • Obtain current mortgage rates and comprehensive information about a specific mortgage • Embedded Text-to-Speech in ATMs (Speechify Solo) Have received press and analyst praise for innovative customer service

  13. Revenue Generation – Voice Portal: AOL • Ten speech applications in service • Check email, weather, sports, stocks and news • Members can customize the weather, stock and headline news information • Can default to weather information based on area code from where call is placed • Over 200,000 members have signed up for AOLbyPhone and agreed to pay $4.95/month for service (800) AOL-1234 • Subscription service generates $1 million in incremental revenue per month

  14. Summary of Speech Versus Touch Tone Speech Advantages • More intuitive interface • Flattens menus • Facilitates hands-free use • Easier navigation through commands • Ease of use • spelling with touchtone keys • entry of currencies, dates, etc. with touchtone keys Touch-Tone Speech

  15. Thank you!

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