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Reap the rewards of speech analytics without investing in the technology

Reap the rewards of speech analytics without investing in the technology

[Last Updated: September 2016]

Still not bought into the whole speech analytics hoopla? Not totally convinced by the massive investment required to get it up and running in your organisation?

Fear not, you are not alone and to counteract this, vendors are starting to get a little bit more creative by offering up Speech Analytics as a managed service. This approach allows organisations to investigate a specific issue or area without investing in any analytics hardware or software and puts all of the onus back on the vendor to query, analyse and present back findings and recommendations based on the audio recordings provided.

This practice is already being widely used in the financial and legal sectors where there may be a specific case or investigation being carried out to uncover instances of fraud or criminal activity.

speech analytics

Speech Analytics as a managed service

At the very least this approach to accessing the technology hugely minimises any upfront costs and can provide a stepping stone to getting that internal buy-in required to invest in a full-scale system. It also negates the need to allocate specialist staff or recruit additional resource.

Costs for such a service are typically based on a per agent per month basis, using a hosted model fees are slightly more palatable than the hundreds of thousands of pounds previously bandied around.

You can effectively harness the benefits of the technology using professional consultancy services to de-risk the process for you, holding the vendor accountable for the outputs.

To ensure you get the most out of a managed service you should consider the following:

1. Business Transformation

Only focus on issues where you can change or take action on the findings analytics uncovered. Make sure any analysis is aligned to strategic and operational challenges

2. Volume

Focus on the big ticket items, for example if 20% of your calls are taking longer than expected, some quick wins could be uncovered and returns more quickly realised

3. Measurable benefits

Ensure you already have some kind of measurement in place of the area you need investigated so you have a starting point to draw comparisons and conclusions from

Interested? Contact us to find out more. Don’t forget to also check out our Speech Analytics advice hub for more information on this particular technology.

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