Indian companies consider speech analytics for supporting marketing initiatives and quick identification of customer intent and remediation of issues.
Chennai, September 12, 2018: The third edition of Drivers for Deploying Speech Analytics 2018, an annual survey commissioned by Uniphore Technologies Inc, was released today. The survey revealed that 60% of Indian companies deploy speech analytics for marketing initiative support and quick identification of customer intent, equally. This is in line with the finding of the previous year’s survey underlining the growing relevance of speech analytics in increasing sales and delivering superior customer experience. Root cause remediation of customer experience failures came a close second with 58%.
In North America and South East Asia, the top driver for deploying speech analytics was the quick identification of customer intent. This is in line with the global trend. At 46% identification of customer intent emerged as the primary driver, globally.
During the 2018 edition of the study, Opus Research interviewed 502 decision-makers across the regions and varying verticals like Banking, Financial Services, Insurance, Telecommunications, Business Process Outsourcing, Retail, Consumer Products, Transportation & Travel. The sample spanned North America, South-East Asia (India, Malaysia, Singapore, Philippines) and Western European (UK, Germany) regions.
Speaking while unveiling the survey, Umesh Sachdev, co-founder, and CEO, Uniphore, said, “The findings of the survey reaffirms what we are witnessing in the marketplace. Enterprises globally are looking at speech recognition technology to mine the big data that resides in their customer contact centers. Today, on an average of about 52 million hours of data is recorded every day in these call center of which only 1% of the data is analyzed. A speech recognition tool like Uniphore’s U-Analyze which is powered by Artificial Intelligence and Machine Learning, can help enterprises analyze the entire data quickly and in real time as well. This can help unleash critical data for delivering better business outcomes and empower organizations to provide superior customer experience.”
The survey revealed a clear shift from compliance which emerged as a clear driver in the 2017 edition to long-standing drivers with direct impact on customer experience and loyalty. The list of drivers that bracket the 40% value include core customer experience concerns (e.g. remediate “root cause” of CX failures and “support escalation of service calls”), as well as classic workforce management/optimization issues. This establishes a direct link to business objectives which also falls into this bracket, including “to support marketing initiatives” and “increase sales and collections”.
Issues under investigation closely parallel surveys conducted in 2016 and 2017, giving Opus Research the opportunity to observe year-to-year changes and draw conclusions about the implications for companies as they contemplate the potential of speech analytics solutions to support their customer care and general business objectives.
Uniphore Technologies Inc is a leading provider of Speech Recognition solutions for enterprises and has worked with over 70 enterprise customers and served over 4 million end users. It has offices worldwide including in USA, Singapore, and India with 150+ employees.
Uniphore’s investors include John Chambers, IDG Ventures India, IIFL, Kris Gopalakrishnan, Ray Stata, YourNest Angel Fund and India Angel Network.
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.
Uniphore was founded in 2008 at IIT Madras.
About Opus Research
Opus Research is a research-based advisory firm providing critical insight and analysis of enterprise implementations of software and services that support multimodal customer care and employee mobility strategies. Opus Research calls this market “Conversational Commerce” with tailored coverage and sector analysis that includes: Digital Self-Service, Intelligent Assistants, Web Services, Intelligent Authentication and Voice Biometrics.