How to Save Money Using Customer Service Speech Recognition

speech recognition

“This call is being recorded for training and quality purposes” is a phrase we’ve famously all heard before. Our calls are recorded by every customer service agent, the information is held in memory and eventually listened back to and analyzed for exactly what we heard in the message: training and quality purposes. Although very useful for listening, when trying to draw statistics, comments or notes from recordings, these audio files become a little more complicated. The most cost-effective solution for this is to use a transcription and speech recognition.

Customer service recordings, when used in tandem with speech recognition technology, can save money and ensures the most complete and accurate view of your customer engagements. Here are the top 3 ways that customer service call recordings can save your call center or business a lot of money next year:

1. Risk Mitigation & Fraud Detection

Studies have shown that within call centers in the USA in 2015, one in 1,700 calls received are fraudulent and throughout the USA. In the UK, companies lose £20 million a year due to this velocity. Have you ever heard of catching fraud before it happens? If you have, ever wondered how?

A speech recognition service is the quickest solution to catching real-time keyword spotting. By identifying keywords or key-phrase spotting, with voice biometrics, your recorded audio will accurately identify fraudulent activity. Information is automatically routed using any management or enterprise systems, to expert human transcriptionists with Hot Alerts. With this recognition, any business can save time and money by avoiding any potential incoming risk of fraud, short or long-term.

2. Data-Mining & Demographics

Recording calls and using speech analytics captures a lot of valuable data that’s capable of identifying a growing list of classifiers within each recording with tracking opportunities. Gathering demographics through speech recognition like gender, age estimation, language, accents, topic, sentiment, emotion, call and conversation dynamics and more eliminates spending money on resources for research and development.

Businesses save money with this data by obtaining, researching, and studying customers attitudes. Information can be used and integrated into any software platform or 3rd party service to target future and existing customers, or better enhance customer engagements.

3. Call Center Agent Monitoring

The interactions of call center agents are mainly recorded for performance tracking, training, and other related quality purposes, making these interactions vital. Training purposes are built around common mistakes or required skill sets, with call recordings, companies are able to monitor and analyze calls which can identify topics needed for agents training and can be reinforced by call analytics.

This can eliminate human resource or management costs by enabling activity to develop specific training methods which may have required action by staff. This can help businesses optimize a better workforce, and quickly reduce, if not remove any gray areas.

By collecting your own data, you can save valuable time and money with a quick solution. Speech recognition and transcription services are creating and changing workflows throughout business activity with accurate analytics. By filtering specific communications, caller demographics, emotions, and context, you are able to reach objectives quicker and easier rather than spending money on personnel.

To find out more about how TranscribeMe can help you unlock valuable data, contact our sales team for a better understanding of your business potential. Or if you would like to try it yourself, you can request a demo at any time to get started.

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