IVR stands for Interactive Voice Response and is a technology that allows for interaction between humans and a computer-operated phone system through DTMF tones from the keypad or through speech recognition. Through an IVR system, customers can interact with a company’s host system and get a pre-recorded or dynamically generated audio response that contains further instructions on how to proceed.
IVR systems can be used to handle large call volumes, banking payments, mobile purchases, services, utilities, and retail orders. An IVR takes input, processes it, and returns the result. IVR technology includes DTMF decoding and voice recognition. It also includes technologies such as text-to-speech online and hands-free operations in automobile systems.
Through an IVR system, you can record customized messages and greetings to help give your customers or users a more personalized experience when they contact your company. An IVR also allows you to use pre-recorded messages rather than your own voice on the system.
IVR systems can make the process of collecting information more efficient as they simply process the customer’s input and transfer the calls to the appropriate department or agent. This makes the process faster while reducing the chances of the caller being transferred to the wrong agent.
IVR systems also allow queries to be resolved without the need for a live agent. The necessary information the customer needs is pre-recorded and if it is not enough, the customer can then be transferred to a live agent. This sorts out complex interactions and allows the live agents to deal with them while the system handles the rest. IVR systems also record call detail information into a database for auditing, performance reports, and future system enhancements.
In banking institutions, IVR systems are used for customer engagement and business operations such as telephone banking. IVR allows institutions to operate 24/7 as customers can conduct basic transactions through the phone. In the medical field, IVR systems are used by research organizations and pharmaceutical companies to conduct trials and manage large volumes of data. The systems are used to gather data into a database and record patient diaries and questionnaires.
Callers can obtain data and gain access to test results anonymously through IVR systems. IVR systems are also used when surveying, such as for televoting on TV game shows. These shows can generate large call spikes which can only be handled by an IVR system.
Survey organizations use the systems to ask sensitive or important questions that people might not want to provide the answers to when it is a human interlocutor. IVR systems offer many benefits, one of which is the access to technology it offers to low-literacy populations in developing countries.
The technology also helps in increasing first contact resolution and customer service efficiency in companies. IVR systems are affordable and efficient, they can reduce operational costs as the system can stay active for as long as needed while handling a large number of requests. It is important in increasing customer satisfaction as it is easy to use and reliable.
Benefits of using an IVR system
Here are some of the top benefits of using an IVR system-#1 Increase first contact resolution
IVR increases the first contact resolution as when the user calls they will be redirected to the most suitable agent or most suitable department. And this way, there are very high chances that if the users have selected the correct options in IVR, they are likely to get served quickly and precisely.#2 Increase customer support/service efficiency
Another top IVR system benefit is to increase the efficiency of the customer care department. As the customers will be already landing to the correct department after selecting the right options in IVR and so the customer agent will be able to serve them quickly. This way, the customer agent won’t also have to get into the complications like transferring the customers to the right department/person. And they can directly serve them as they are intended to do.#3 Reduce operational cost
IVR not only helps to increase the efficiency of customer service and satisfaction but also reduces the operational cost. If IVR won’t be there then in that case, when any customer will be calling to the company, some receptionist will be attending the call and then will forward it to the required team/person. This process can be complicated and inefficient. Now with the help of IVR, there is no need for a receptionist dedicated for the same which reduces the operational cost.#4 Increases professionalism
Another benefit of using IVR in the organization is it makes the organization more professional in the customer service front. As the customer doesn’t have to wait for longer getting here and there and so, the experience of the customer will be amazing. They will experience great experience as the first person they will interact, will resolve their issue.#5 Reduce Transfer Error
If the customers who are calling will be handled by someone then there are chances that they might not be able to forward the call to the perfect agent who will solve the query. Instead, if we are using IVR then there are rare chances of making errors. And the transfer error can only happen if the customer is not selecting the right option.
Ashutosh Jha
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