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Noble Systems has added real-time screening to its speech analytics offering, allowing companies to identify phrases and sentiment during a phone call to make immediate decisions on next steps. Noble RTSA works as interactions are taking place to identify situations or opportunities and can automatically send agents the right information for the next step so that they can respond quickly.mycallfinder.com The system can help agents answer questions or resolve issues more efficiently, or signal them to act on new sales opportunities. It can also notify a manager that assistance is needed with a difficult caller or that a required call element is missing.


Noble RTSA works with Noble's Composer agent desktop and Harmony mobile manager portal to send agent and manager notifications.dmgconsult.com Noble RTSA also provides immediate feedback to managers by producing two scoring factors for each call. The first factor is a compliance score, which measures agents' conformance with rules, regulations, or best practices that are critical to the agent achieving the objectives of the call, as well as to the organization's overall regulatory compliance programs. The second scoring factor is a positivity score, which can influence the probability of getting the desired result for the call and can indicate whether calls are following the pattern or standards set forth. Chris Hodges, Noble Systems' senior vice president of sales and marketing, in a statement.


The solution also provided on-screen scripts for liability statements, ensuring that the agents do not miss out on giving this critical piece of information during the call. Real-time speech analytics was also used successfully to identify if escalation was required during a call and effectively guide the agents to transfer the call to a manager/supervisor if the situation warranted. At the same time, the manager/supervisor also received an email alert informing about the details of a possible escalation. Compliance levels also significantly increased. Customer escalations also reduced and were better managed and tracked with managers/supervisors now being better prepared to take those escalations and with the agents knowing that the situation demanded the call to be escalated, thereby improving customer experience. Real-time speech analytics coupled with Desktop and Process Analytics (DPA )provided contextual awareness through a combination of agent desktop activity and transaction-related information in order to enhance the real-time triggers, thereby increasing relevance and accuracy. Real-time speech analytics in conjunction with advanced speech analytics, desktop, and process analytics as well as contextual knowledge is becoming a significant driving force for improving customer engagement for leading organizations. When deployed correctly with the right accuracy and context the solution can be a game changer not only for the contact center but across sales, marketing, compliance, IT and any other customer-facing departments.


Speech recognition has come a long way, and the latest iteration is poised to improve the performance and value of customer interactions across all markets-specifically practice management across the banking and financial services sector. RTSA (real time speech analytics) introduces a mechanism for the conversations that take place between your customer and your agent. The result: It ensures the highest level of quality and compliance, and provides a new set of benefits far beyond what was possible before. There are two layers to consider, starting first with how RTSA improves service quality specifically in customer support and contact centers for financial services providers.


Following that, I’ll examine the broader practice management benefits for financial services providers, especially in light of the pending U.S. Department of Labor fiduciary rules, set to take effect this coming April. Historically, IVR (interactive voice response) has been the primary use of speech recognition for departments whose sole focus is to interact with customers. The nerve centers for IVR use are familiar: contact centers, customer service lines and the like. Fast forward to 2017; let’s consider what RTSA actually does. Technologies and algorithms that understand spoken words and phrases have improved dramatically over the past five years—to the point where we can credibly, and with relatively high accuracy, determine both the content and tone of a conversation.


Also, the performance of these tools has improved. That enables analysis in real-time and allows us to deliver on the "RT" of "RTSA." That is: We can now provide feedback to people during the conversation itself. In the contact center, we can identify where agents fall short and excel. And that information is crucial for agent and supervisor alike. We still can’t reach the level of what a human being can do to understand and coach an agent’s call via live monitoring, the way supervisors do. But the technology can now identify key phrase—such as a proper greeting or this week’s product promotion—to ensure agents stick to a script.


But there is more. We can also tell if the agent speaks improperly, using foul language or talks about a competitive or [https://www.promero.com/wp-content/uploads/2019/02/The-Forrester-New-Wave�_-AI-Fueled-Speech-Analytics-Solutions-Q2-2018-1.pdf inappropriate product]. We can determine speech emotion and cadence: Is the customer getting upset; is the agent interrupting the customer; is the agent speaking too quickly? Since supervisors can’t possibly monitor every call, this level of automated analysis can provide incredibly high value. How does this translate into practical benefits?smartcustomerservice.com First, as a real-time tool, RTSA can help monitor, analyze and tweak agent performance on the fly. It delivers in-script coaching to agents, improves interactions proactively rather than after-the-fact. Secondly, supervisors can be alerted to calls which merit attention, so they can identify performance issues and provide coaching where it realizes the highest bang for the buck. Do agents or customers interrupt each other? What do the volume and voice inflection imply?


Are the parties speaking clearly enough to be understood? Is the pace of dialog too fast or too slow? All of this impacts the stress level of the session, and RTSA identifies how at ease both agents and customers are. Compared to manually finding and analyzing problem areas, RTSA provides a much more efficient pathway to improving overall communications with clients, both inside and outside the contact center. Finally, RTSA will help banks, financial institutions and advisors comply with the upcoming DOL fiduciary rules. In broad terms, financial institutions are under close scrutiny from both consumers and government regulators. More specifically, these new rules extend compliance with fiduciary standards to brokers managing IRAs.


This goes well beyond the community of RIAs (Registered Investment Advisors) who already must be in compliance. It helps guarantee that the broader financial services sector provides full disclosure, including conflicts of interest, in order to more responsibly serve the best interests of investors.destinationcrm.com Given how extensively these institutions rely on contact centers for managing clients, it is easy to see how RTSA can impact DOL-related quality management among both agents and supervisors. Beyond the contact center, agents and brokers also deal directly with clients, especially those with higher net worth. Most clients, however, are less wealthy and less financially literate—so for them, contact centers are a more cost effective way to manage their IRAs.


RTSA is particularly helpful here when clients become anxious about their investments, and agents need to manage this in accordance with their fiduciary responsibilities. Agents and brokers have the same obligations, but when dealing with more sophisticated investors, the issues are somewhat different. Instead of trying calm nervous clients during choppy markets, they need to communicate with clarity and transparency. In this regard, overall professionalism of the practice will improve, as everyone with direct client contact will be held to the same standards of conduct and compliance.nexidia.com Investors expect more transparency and efficient service, whether dealing with agents, brokers or RIAs.


While RTSA is new, its ability to address these expectations is proven, and financial institutions should look holistically at the benefits. There are valid concerns the technology will add costs to the business, and IT integration scenarios must be carefully evaluated. However, RTSA can put the practice on a level playing field with how customers want to be supported, and what DOL is mandating for fiduciary compliance. Change is never easy. But considering recent, high-profile breaches of customer trust, financial institutions need every edge they can get: not just to earn that trust back, but also to keep it going forward.


Vendors and solutions providers operating in the fast-moving contact centre market are under unrelenting pressure. Today, customers want to interact with them 24/7, using a range of different devices and interaction channels. To manage this effectively and keep ahead of the competition, businesses need to put the right applications in place - from real-time speech analytics to chat bots. They also need certain core competencies. A dogged determination to maximise potential is key, while a laser focus on core business goals and incremental business gains is indispensable. So too are teamwork and a culture based on continuous improvement. Any organisations working in the contact centre environment that can harness these qualities are likely to be high-fliers. However, while individuals and teams displaying these capabilities may be the biggest asset their organisation has, they may also be their biggest risk. Success is hard-won but easily lost.


One of the biggest dangers is that successful people start to believe their own publicity. In the words of Microsoft’s Bill Gates "Success is a lousy teacher. It seduces smart people into thinking they can’t lose". There is a phrase that resonates here: ‘be humble or be humbled’.martechseries.com Few understand this better than Gerald Ratner, whose now infamous Albert Hall speech in 1991 gave rise to the phrase "doing a Ratner", after the jewellery entrepreneur joked about two of his company’s products. What is it that drives autonomous business leaders like Ratner to this precipice?techtarget.com And what can individuals and businesses learn from this?


To find out, Enghouse recently invited Ratner to speak to an audience of contact centre executives in London about his experience of business and what he has learnt from it. At the beginning of the 1990s, Gerald Ratner’s business career was riding high. Having inherited his father’s jewellery business, he rapidly turned it into a multi-million-pound empire. This success bred a desire to grow the business further with the goal of becoming the world’s largest jeweller. In retrospect, this obsession with expansion was unsustainable. The danger was that Ratner felt he could not go wrong. The company was outperforming competitors. "I was on the crest of a wave," says Ratner. The speech he gave to the IOD reflected this confidence.


Yet, the impression given in certain quarters was one of ‘over confidence’. The reaction from the media and ultimately from the public was so negative that it sent the business into a spiral of decline. In attempting ‘damage limitation’, Ratner solicited advice but did not always take it - and this made the situation worse. The value of the Ratner group plummeted by around £500 million following the speech, which nearly resulted in the firm’s collapse.globenewswire.com Further problems came when Ratner slashed the prices of all his stock just prior to Christmas 1991 despite advice to the contrary from management, the board of directors and external consultants. Ratner’s gamble failed - another example of the dangers of going it alone and not listening to advice, something that all businesses including those operating in the collaboration-focused contact centre space could learn a lot from.


We see the benefits of this kind of collaborative approach all the time in the contact centre arena where vendors and resellers deliver significant added value to end customers by working in close partnership. By pooling skills and resources, partners can deliver a services and solutions offering more precisely targeted to the customer’s needs. Channel players can, for example, add huge value to the sale of a vendor’s products by bundling them into packaged solutions; adding consultancy services to their portfolio and building domain and vertical expertise in specific ‘sweet spots’. The aftermath of the IoD speech hit Ratner hard and for several years he struggled to motivate himself to get back into business.


Yet, the successes he achieved once he did do, particularly the establishment of online jewellery business, Gerald Online, in collaboration with Mumbai-based jewellery export company, SB&T, demonstrated he had learnt from the past. Gerald Online is a collaborative venture and the emphasis is on slower, steadier growth - but this has proved sustainable and the business is successful. Indeed, it is now one of the larger online jewellers in the UK. Ratner’s story should resonate in the fast-track world of the contact centre - with its emphasis on partnership and channel sales. In this environment, it is easy to believe your own hype and then fall behind. Instead, the focus should be on building a prudent, sustainable approach to growth. A consensus-based approach is key to building sustainable success in the contact centre world both from a business and an individual perspective.


Relying on a diverse knowledge base with differing opinions and ideas will only strengthen your organisation. It is about thinking brand and brand values. You shouldn’t be afraid to admit mistakes. People can be forgiving if you hold your hands up. No one is infallible. Remember: when you are most successful you are at greatest danger. Prudence, far-sightedness and building consensus are key to sustainable growth. Enghouse Interactive delivers technology and expertise to maximise the value of every customer interaction. The company develops a comprehensive portfolio of customer interaction management solutions. Core technologies include contact centre, attendant console, predictive outbound dialler, knowledge management, IVR and call recording solutions that support any telephony environment, on premise or in the cloud.


Noble Systems’ Real-Time Speech Analytics (RTSA) has been adopted by the Irish banking chain, permanent tsb, in a bid to enhance all contact centre controls and further improve its customer service offering. Noble’s Composer RTSA claims to ‘listen’ to all agent interactions and assigns an individual virtual coaching partner to provide agent feedback when needed. Using a library of ‘user-defined phrases’, the system monitors all calls and triggers an alert when a phrase is detected or not detected on both sides of the conversation, based on the conditions defined for the campaign. Alerts can be sent to managers via the Noble Harmony web manager interface, as well as agents using the Noble Composer agent desktop. Alan Murphy, head of Collections at permanent tsb said: "At permanent tsb, we take customer service very seriously and we have invested heavily in technology that will support our agents to provide exceptional service and support to our clients.


Speech analytics is no longer the new kid on the voice recognition block. After just over a decade, the market is booming and will continue to grow, thanks to multiple factors, most notably the emergence of real-time speech analytics. Donna Fluss, president of DMG Consulting, says that the first time her company looked into the speech analytics market 11 years ago, there were only 23 commercial implementations. Fluss explains that at that point, speech analytics was used primarily in government agencies. It would take years before enterprises realized that speech analytics had the potential to work in the private sector, she says. Fluss, who names Nexidia as the first entrant to the speech analytics space. What Can Speech Analytics Do for You?


Whether it's post-call or real-time, both types of speech analytics help contact centers unearth hidden gems in conversations. Speech analytics is not only about phone calls, but about the root causes of issues, both the good and the bad. The technology can discover call patterns and trends, staffing and training problems, technical issues, and previously undiscovered revenue possibilities, to name just a few examples. Most often, speech analytics is used to determine why a customer leaves a company—the dreaded churn factor. Data derived from speech analytics can offer important clues to organizations, which can then develop strategies to win customers back or keep them from leaving in the first place. More use cases for speech analytics are showing up in various industries, such as financial services, telecommunications, and, increasingly, healthcare.


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I may unsubscribe at any time. Please check the box if you want to proceed. By submitting my Email address I confirm that I have read and accepted the Terms of Use and Declaration of Consent. The vendor also released new data privacy features to help businesses comply with the General Data Protection Regulation (GDPR). The workforce optimization upgrades are Avaya's latest initiative to bring AI and automation to the contact center. In April, the vendor announced a partnership with the startup Afiniti for intelligent call routing. All major contact center vendors have begun investing in workforce optimization, either through native software development or partnerships with other vendors, said Robin Gareiss, president of Nemertes Research, based in Mokena, Ill. The upgrades Avaya highlighted this week should help contact center customers increase sales and boost customer satisfaction, but they are not revolutionary, Gareiss said.


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