The contact center industry is evolving and incorporating new technologies that improve efficiency and productivity. With new tech tools and systems, the industry has transitioned a lot, but one crucial tool that remains in the picture from the beginning is Interactive Voice Response (IVR). From traditional push button IVR to the modern Visual IVR, contact centers have embraced this technology because of its diverse benefits – it improves customers’ interactions, builds the brand image, and boosts business. This technology has multiple other benefits that help upscaling a contact center. Scroll down to learn more about IVRs.
What is an Interactive Voice Response (IVR)?
Interactive Voice Response (IVR) is an automatic voice response system that streamlines incoming calls. It manages calls around the clock using the dial pad functionality to identify, segment, and route interactions. IVRs provide callers with a seamless self-service experience and allow them to navigate the menu to resolve issues.
Interactive Voice Response is not a new term in the contact center landscape. The upgradation and transformation of the IVR system have revolutionized organizational operations. With continual advancements in IVR technology, we have different types of IVRs in places with multiple functionalities.
How Does the IVR System Work?
There is no rocket science in the working of IVR systems. No matter how advanced the IVR system is, its working will have the same essential functions. Let’s understand how an IVR works in the banking industry.
- Step 1- The customer calls the bank support agent.
- Step 2- The IVR system greets the caller with pre-determined voice prompts, such as what the issue is related to, such as credit card, debit card, transaction, savings account, etc. Through this functionality, callers can find answers to their queries independently.
- Step 3 – The customer chooses the relevant option through voice commands or keypad inputs. On every response from the customer, the IVR plays the next IVR menu.
- Step 4 – Then, the caller self-serves himself, or the IVR routes the call to the correct department or agent based on the customer’s input. Or replies to the frequently asked questions through pre-recorded responses.
Now that the meaning, types, and working on an IVR are well-explained, let’s understand the features that an advanced IVR must have.
Why is IVR Important for Modern Contact Centers?
IVR systems improve customer experience and streamline the contact center process. From the first stage of customer interaction to the final solution, IVR helps at every step. It addresses common customer queries, optimizes routing patterns, improves efficiency, and more.
In this digitally advanced era, multiple communication channels and interaction options exist. Still, irrespective of that, IVR stays at the top as it is the widely used way of customer interaction. IVR enhances customers’ experience when interacting with the brand and has the following advantages.
Reduces Wait Time and Enhances Service Quality
Customers always expect excellent service quality, and IVR solutions help businesses meet their expectations. They strengthen business-customer relationships through professional greetings whenever the customer interacts with the brand, providing customers with the easiest way to navigate the next step of the interaction journey.
Furthermore, IVR also provides access to relevant information instantly and eliminates the need for human-agent interaction, increasing the resolution rate.
Minimizes Operational Costs
Reducing operational costs is one of the prime objectives of every contact center, and IVR systems can meet this objective. They are a cost-effective way to handle increasing contact volumes. IVR is affordable to incorporate and maintain, allowing organizations to manage numerous interactions automatically.
Moreover, it can handle high-volume interactions without hassle, saving contact centers’ costs for outsourcing professionals.
Boost Customer Satisfaction
IVRs play a crucial role in boosting customer satisfaction and improving brand image. Customers feel more satisfied interacting with the brand when the IVR system is easy to use and well-aligned with the brand offerings.
Innovative IVR solutions segment incoming calls according to customer needs and enhance customer experience. Call segmentation reduces waiting time and call transfer rates, improving customer satisfaction.
Transform Your Contact Center with Seamless IVR Integration by NovelVox
IVR is an irreplaceable technology in the contact center industry. It is advancing daily, improving customer satisfaction and enhancing brand image. Integrating IVR with telephony systems helps reap the maximum benefit of this technology. Opting for the NoveVox IVR Integration Solution will help businesses offer exceptional customer experiences and establish an unmatchable brand image. Our solution will help shorten interaction handling time, improve customer experience, and promote end-to-end self-service. Contact our experts today to learn more about our top-notch contact center solutions.
