Interactive Voice Response (IVR)
Have you ever been on a call with an Automated Voice bot and it made you frustrated to no end because of how limited their responses were?
Well, we’ve all been there. In the few recent years, Artificial Intelligence has truly exceeded its expectations and continues to grow in its field. One of those advancements is seen in the IVR system.
An IVR (Interactive Voice Response) system is a telecommunications feature that allows users to speak with a computer system via voice or touch-tone dialing. Users can be guided through a number of choices that will direct them to the appropriate department, ensuring that when they actually speak to a human, they are speaking with someone who is equipped to manage their concerns.
Despite the fact that this technology was invented in the 1970s, it has developed into the most viable and cost-effective technique for streamlining a large volume of calls and solving simple queries.
Types of IVR Systems
IVR for self-service
Businesses can handle high call volumes at a smaller cost using an IVR System, or automated voice. Without switching to a human agent, it can detect and route callers, as well as handle their issues. Only when the caller requests additional assistance is the call sent to a live agent.
By installing an IVR solution on a hosted software platform, it allows businesses to access the IVR application on the internet.
This enables businesses to provide customer assistance 24 hours a day, seven days a week, even after office hours. It enables businesses in gaining customer loyalty and increasing customer satisfaction.
An agent-assisted IVR software can help a contact center to optimize the operational costs while delivering consistent and quality customer service.
Without the customer being aware of the agent’s involvement, the agent can dynamically direct pre-recorded statements to establish a conversation with the customer.
How does an IVR System work?
The customer dials the company’s customer service or contact number. Customers are greeted with a pre-recorded message, which is followed by prompts asking for relevant input via dial pad.
A simple data fetch is possible once the caller dials the relevant IVR input, and the required information is relayed back to the caller.
After dialing the desired Agent interaction IVR input, the caller is either placed in a queue or connected to the appropriate agent or department for assistance.
If a queue is busy, an auto call back to the caller can be used to increase confidence and improve the caller’s experience.
On a technical level, an Interactive Voice Response system consists of the following:
- Telephony equipment
- IVR software applications
- A database
- Support infrastructure
Benefits of IVR System
Below are the reasons why either smaller or bigger businesses should use an IVR system:
Better Customer Service
IVR systems make sure that any common query customers might have already had a quick answer available.
A solid IVR flow provides clients with informed and time-saving responses by guiding them through an understandable menu to the department that can best cater to their needs which will make the customer feel they are better attended to.
Increase in Productivity
Time spent on hold or being transferred from department to department increases customer dissatisfaction.
Routing callers to relevant departments to meet their needs saves time spent conversing with colleagues or redirecting the caller until they receive what they require.
Create a Better Company Image for a Small Business
Although an IVR system may not be required to handle calls for a small business, it will surely give the impression that your company is big and that your reception and customer care staff cannot handle the volume of calls.
Unlimited Customer Access
While business hours, holidays, and breaks limit employee availability, IVR systems are available to customers at all times, even when your company is closed. This means that a consumer can acquire assistance anytime they require it.
Is Artificial Intelligence the Future of IVR Systems?
One form of technology that will significantly improve IVR is artificial intelligence (AI). AI, such as IVR, is rapidly rising in popularity in the world of work, benefiting everyone: businesses, employees, and customers.
Now, consider what will happen if you combine these two.
AI (Machine Learning) can learn from human behavior (the input it receives) to better its own performance. AI can transform an IVR system into a more understanding module with this feature. What you say will teach the AI element of the IVR system about your intent and requirements.
Instead of trying to figure out which terms were programmed into the system, the caller can use any relevant sentences, words, or questions when the call begins. Yes, it will be quite identical to conversing with a human. Callers can also be asked questions by Artificial intelligence. What you say will be added to the robot’s already extensive knowledge base. This information is then used to find relevant information in the business’s database or to match you with the appropriate agent.
This technology is almost there. You’ll enjoy this level of service on a massive level soon.
Interactive Voice Response (IVR) is set to significantly transform how businesses and people interact in the future. Don’t fall out of sync with these developments.