Service providers face a significant challenge with customer churn Despite the considerable advancements made by telecommunication and cable companies in reducing churn, the rate of customer attrition is currently experiencing an upward trend. Even a slight increase in churn, by just one basis point, can result in substantial monthly losses in customer value, exceeding $1 […]
The Pandemic has Driven the Need for Enhanced IT Help Desk Performance and Efficiency The COVID-19 pandemic has forced many companies to rapidly undergo digital transformation. The sudden shift to remote work necessitated the adoption of new technologies, resulting in employees who were undertrained and physically isolated seeking support from IT help desks to ensure […]
And How to Cultivate a Productive Practice for Your Team It comes as no surprise that contact center sales organizations and quality assurance teams struggle to dedicate sufficient time to listening to sales call recordings for coaching purposes. Outdated technology has not made this task easy. Regrettably, evaluating sales call recordings often proves to be […]
Voice Biometrics in the Banking Sector Voice biometrics in the banking sector involves the utilization of voice patterns to identify and authenticate individuals. This technology adds an extra level of security when granting access to systems or applications. Within the banking industry, voice biometrics plays a crucial role in safeguarding applications and data. It is […]
Manual call center coaching typically involves a supervisor or manager working closely with a call center agent to help them improve their performance. The process usually involves several steps, including monitoring calls, providing feedback, and offering additional training or support. One of the first steps in a traditional call center coaching is to monitor calls […]
Conversational Marketing is an interactive approach to marketing that utilizes real-time conversations to engage users and propel them efficiently through the customer journey. It creates authentic experiences that foster interactions between consumers and buyers. Conversational marketing adopts a one-to-one approach, where brands engage in conversations with customers through calls, chats, or emails. These conversations assist […]
Driving Revenue: The Vital Importance of Contact Centers in Generating Business Growth In today’s landscape, revenue serves as the lifeblood of every company. The ability for contact centers to transcend their traditional role as cost centers and actively contribute to revenue generation has become increasingly crucial. Amidst unprecedented uncertainty, contact centers are diligently exploring avenues […]
In the contemporary contact center environment, data-driven performance metrics hold utmost importance. With numerous parameters and metrics to consider, one may question the extent of emphasis placed on data. However, in reality, the continuous measurement of performance metrics plays a vital role in shaping the customer experience. Among these metrics, one that remains top of […]
The saying “Actions speak louder than words” holds true when it comes to the interaction between service providers and their customers and prospects. A survey revealed that 70% of respondents believed that businesses made promises to them in the past year, but only 60% felt that those promises were actually fulfilled. Furthermore, nearly two-thirds of […]
At what point does a customer service chatbot transcend its basic function? When it engages in natural communication with AI-powered customer service capabilities. The association between chatbots and customer service has been well-established. However, despite their prevalence, customer service chatbots have undergone minimal changes in recent decades. While they excel at handling basic inquiries like […]
In today’s era of digitization and intense competition, businesses recognize the paramount importance of customer experience. It goes without saying that exceptional customer support and service are instrumental in creating a positive customer experience, and the contact center serves as a pivotal component in achieving this. To effectively cater to their customers, businesses worldwide have […]
In recent times, artificial intelligence (AI) has emerged as a formidable technology, often called the fourth industrial revolution, that enables machines to think and act like humans. With its ability to push the limits of machine-enabled capabilities, AI is expected to continue making complex decisions and enhancing efficiency in our lives. It is projected that […]
The implementation of conversational AI and automation has the potential to bring about a significant transformation in the banking and financial sectors by streamlining repetitive tasks and enhancing the customer experience. By leveraging AI and automating contact centers, banking and financial services can be made more accessible and user-friendly. The integration of conversational AI in […]
What does BDC stand for? A BDC, short for Business Development Center, refers to a team of agents responsible for providing customer support by managing inbound and outbound customer inquiries, scheduling showroom visits, service appointments, and other related tasks. Forward-thinking car dealerships understand the significant potential for return on investment in their customer assistance and […]
The application of conversational AI involves using voice and text-based dialog management systems to interact with users and provide answers to their questions. While text-based systems have been used for some time, their success has been inconsistent due to rushed deployment by some businesses resulting in frustrated users. However, recent successes such as ChatGPT have […]
It’s an undeniable fact that AI is the future, and it’s making digital life more comfortable and convenient. Conversational AI has been a hot topic in the IT industry for several years, and its popularity doesn’t seem to be fading away. According to recent statistics, the conversational AI market was worth $40.9 million in 2018, […]
What Is an AI Agent Assist AI agent assist refers to a virtual assistant that simulates human interaction and can automate workflows, thereby reducing manual effort in a company. While it is commonly used in customer service, it can also be utilized in other areas such as medical or technical support, sales and marketing, and […]
How Agent Bots Can Simplify the Workload of Your Customer Support Agents The foundation of any organization is customer support agents, who are the first point of contact for customers and handle various types of inquiries. However, an automated bot that can perform these tasks for them would make their job easier. This is the […]
The use of chatbots as a means of virtual communication has grown significantly and is considered the future of such interactions between businesses and customers. According to reports, the global chatbot market, which was worth $2.6 billion in 2019, is projected to reach $9.4 billion in 2024, growing at a compound annual rate of 29.7%. […]
Healthcare budgets and staffing resources can be heavily impacted by revenue cycle management (RCM). However, there are ways to mitigate these effects. Difficulties encountered in managing revenue cycles The process of Revenue Cycle Management (RCM) is inherently complicated, with several steps requiring significant human effort and being prone to errors. Any errors made in the […]
As a result of the ongoing trend of “the Great Resignation,” where employees are quitting their jobs voluntarily due to various factors such as lack of career growth opportunities and high living expenses, the contact center industry is experiencing the consequences of increased agent attrition and difficulties in onboarding new agents. However, with the emergence […]
If you wouldn’t trust someone with basic car maintenance skills to fix the brakes on your car, or someone with only a Red Cross first aid certificate to perform open heart surgery, then how can you expect your employees to work effectively and confidently in a completely different environment without the necessary skills? It’s important […]
Rising concerns about workplace safety are being driven by factors such as increased work demands, inadequate employee support, and the introduction of new technologies. Business leaders are increasingly worried that workplace safety will become more challenging to maintain due to shifts in employee mental health and talent retention, with over one-third of them sharing this […]
The contact center is frequently the primary point of contact between a company and its customers, both before and after a purchase is made. The performance of a call center is largely dependent on the competence and professionalism of its agents. Therefore, it is crucial to provide agents with adequate training, tools, and techniques to […]
A few decades ago, businesses invested in call centers to improve their relationships with customers by offering a way to inquire or complain about their products or services. These centers mainly relied on fixed-line telephone lines, which worked well for linear communication. However, with the advent of advanced communication technologies, customers now have various means […]
Many businesses miss out on valuable insights due to inaccurate transcription in their call centers. This highlights the crucial role that transcription accuracy plays in the success of a business. Companies are now using conversation intelligence and quality assurance (QA) automation solutions to extract insights from frontline interactions in call centers. However, one critical element […]
Appreciating the Value of Artificial Intelligence in Customer Service and AI Agent Support In today’s digital age, customers want fast, efficient, and personalized customer service. To deliver on these expectations, businesses are turning to Artificial Intelligence (AI). AI-powered customer service solutions can automate routine tasks, analyze customer data, and provide tailored recommendations to enhance the […]
Nowadays, most of the words used over sales calls are based on human intuition. But Human intuition has its limits. Our research suggests that there are a host of words that kill a sales deal. The data science team at ODIO have analyzed 10000+ B2B sales call recordings using our conversational intelligence platform. Every call […]
We have seen a lot of people claiming that women are said to be better sellers or men are said to be better sellers. All these claims are mostly stated out of intuition instead of with a solid reason. So our team at ODIO recorded, speaker-separated, transcribed, and analyzed 10000+ sales calls of men and […]
Speech analytics is basically a technological software that analyses calls by transcribing them into text for delving deeper in order to derive intricate insights, trends and metrics. These are derived to assess agent performance for constructive feedback and improvement. Moreover, it helps to understand the dynamics of the customer trends which further helps the organisation […]
A good sales pitch always conveys the intended message to the target company or individual in a very compelling manner. Due to the varying nature of different individuals and companies, crafting a winning sales pitch every time is not easy. Thus, it becomes necessary to create a killer sales pitch with well-defined pitch points that […]
E-commerce companies have been at the forefront of leveraging the power of conversational AI. In the current COVID-19 scenario, digital shopping has emerged as the safest and most convenient way for businesses to interact with their customers which has significantly boosted the growth of the e-commerce industry. ODIO is helping an ecommerce arm of a […]
In today’s world, customer service widely involves the use of alphanumeric characters and a lot of confidential numeric data. Such characters are frequently used in serial numbers, passwords, OTP, tracking numbers, financial data, etc. Most of the sales guys and the customer service staff can totally feel the uneasiness in the voice of customers while […]
Closing the toughest sales deals is a potential nightmare for many sales agents because of its random and complex nature. It becomes vital to understand the complexity and particulars of the product to alleviate the pain points of their client. This incurs a rigorous manual training process that further involves the usage of multiple use […]
In the domain of conversational AI, word error rate is an extremely important measure to determine the accuracy of any Automatic Speech Recognition (ASR) system. Simply speaking, it calculates the number of errors in the transcription text produced by the ASR system. In the field of automatic speech recognition, word error rate is the modus […]