- 50% of companies cite “Discovering the root cause of customer experience failures” as the reason for deploying Speech Analytics Technology
- Of 500 Respondents, 69% see ROI in 12 months of deploying Speech Analytics
CHENNAI, India – November 15, 2017: Uniphore Software Systems today released the “Executive Survey: Drivers for Deploying Speech Analytics -2017”. A market report Commissioned by Uniphore Software Systems and conducted by Opus Research, highlighted the growing importance of deploying speech analytics to significantly improve Sales and Collections.
According to the research, in India, amongst the primary drivers to deploy speech analytics in the business is ‘Increasing Sales and Collections’ with 57% companies stating it as a primary reason.
Globally, 53% have deployed speech analytics for ‘Workforce Optimization’ while 50% for “Discovering the root cause of customer experience failures”, and 49% for “Quick identification of customer intent” besides gleaning business insights (17%), i.e. building better marketing programs, product development and amplifying business operations.
In its second year, this one of its kind market study has surveyed 500 decision-makers across North America, South-East Asia (including India) and select countries in the Western European regions. The study reveals a robust trend of businesses getting their money’s worth for investment in speech analytics with 30% of the respondents seeing ROI within 6 months and 69% ROI in 12 months. This year on year market study helps the enterprises as a unique thought leadership reference point while deploying speech analytics and provides market perceptions and insights on speech analytics.
Commenting on the findings, Sanjeev Gadre, CMO, Uniphore Software Systems said, “Increasingly CXOs are curious about the deployment of speech analytics which is coming of age and adding value in ways that are beyond the obvious. Whether it is improved customer experience or building more effective marketing plans, the fact that businesses, across verticals and countries, are deploying Speech Analytics for Business Outcomes reflects how this has penetrated decision making. This Market Report gives great direction and is a decision maker’s guide on how the space is evolving.”
“The results of this year’s survey add to our belief that speech analytics is critical and irreplaceable part to omnichannel analytics.” he added.
Spotlight on India
As per the study, business outcomes are the trigger for deploying speech analytic solutions in India, rather than bureaucratic considerations like compliance or help in product management.
Additionally, discovering the ‘root cause’ of customer experience failures was the most cited (long-term) reason for deploying speech analytics technologies in India (60%). This factor was in a near tie with two other drivers that ring true globally: “Increase Sales and Collections” (57%) and “Compliance with Laws and Regulations” (57%).
The sample included a diverse base of respondents from India, with double-digit percentages from Banking, Financial markets, Government/Public Sector and Business Process Outsourcing. The sample was skewed heavily toward decision-makers (73%), and nearly all (96%) had deployed Speech Analytics in their businesses.
Uniphore Software Systems is headquartered in IIT Madras Research Park, Chennai. Uniphore was incubated in IIT Chennai, India in 2008 and currently has offices in India, Singapore, and U.A.E with about 100 employees spread across all locations. Uniphore’s investors include Kris Gopalakrishnan, IDG Ventures India, India Angel Network, YourNest Angel Fund and Ray Stata. Uniphore has worked with over 70 enterprise customers and served over 4 million end users. Uniphore was recognized by Deloitte as a Technology Fast 500 company in Asia Pacific in 2014 and was also ranked as the 10th fastest growing technology company in India by Deloitte Fast 50 in 2015. Uniphore’s Co-founder & CEO, Umesh Sachdev was recognized by the TIME Magazine list of 2016 amongst ’10 Millennials Changing The World’, and with India’s edition of MIT Technology Review’s ‘Innovators Under 35’ for the year 2016. http://www.uniphore.com
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