Tech Talks: AI-powered interactive voice response system can lead to $1M+ in savings

Close up of a person in a suit and tie using a smartphone with a microphone icon and sound waves superimposed over the image, representing an AI IVR. To serve as technology consultants to our clients, we need to stay up to speed with the latest IT trends and solutions. To achieve that, our team of IT experts attends weekly training sessions. Our Tech Talks blog series offers a snapshot of these educational sessions.

A retailer with 16,000 employees was struggling to keep up with high volumes of inquiries. Customers became frustrated when faced with long hold times, and contact center agents were overwhelmed by the workload. To improve customer and employee experiences (CX and EX), the director of global customer operations turned to a customer service automation platform in our portfolio.

The retailer adopted an interactive voice response (IVR) system powered by artificial intelligence, or an AI IVR. The company gained an intelligent “front door” system capable of identifying customers by their phone numbers and saying, “How can I help you?”

With the AI-powered virtual agent handling tasks like authentication and account management, the company achieved a 30 percent CSAT score improvement, a 19 percent decrease in hold time, and $1.5 million in annual savings.

If you want to enhance EX and CX while containing costs, you should consider deploying the same conversational AI IVR solution.

AI IVR: Key elements and benefits

This interactive virtual agent helps contact center teams do their best work. Let the AI IVR system tackle routine requests, allowing human employees to focus on more complex inquiries. Expanding self-service options with an AI virtual agent for inbound callers typically results in a rapid return on investment (ROI) for contact centers.

Notable features and benefits of this customer service automation offering include

  • Natural-sounding text-to-speech (TTS) voice

  • Automated speech recognition

  • Sentiment analysis

  • Voice biometrics for authentication

  • Interpretation capabilities

  • Ability to deflect basic questions and take action

  • Option to layer on top of any Contact Center as a Service (CCaaS) platform

  • Integration with a wide range of third-party apps (including Salesforce, ServiceNow, HubSpot and more)

Beyond this AI IVR solution, our portfolio also includes virtual agent solutions for other channels, including email, web chat, social media and SMS. Additionally, our advisors can recommend internal AI-powered answer engines for enterprises looking to improve EX.

If you want to explore artificial intelligence solutions for your business, our trusted technology advisors are here to help. With over 20 years of IT and telecom experience, access to the latest market data, partnerships with best-in-class suppliers, and a tool that instantly generates detailed comparison matrices, we can efficiently narrow your options from double-digits to the top 3 to 5 that align with your needs and goals.

Start today by calling 877-599-3999 or emailing sales@stratospherenetworks.com.

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