What is IVR solution?
Why is IVR important?
What is an IVR system banking?
How the IVR software works?
What is IVR testing?
Let's read more.
1-What is IVR system?
IVR stands for Interactive Voice Response and is an automated telephony system that interacts with callers, gathers information and routes calls to the appropriate recipients.
An IVR system (IVRS) accepts a combination of voice telephone input and touch-tone keypad selection and provides the best voice responses, fax, callback, email and other contact ways.
According to wikipedia interactive voice response (IVR System) is a technology that allows a computer to interact with humans through the use of voice and DTMF tones input via a keypad.
in techterms.com interactive voice response definition is "a telephony technology that can read a combination of touch tone and voice input. It gives users the ability to access a database of information via phone. A typical IVR system has several menus of prerecorded options that the caller can choose from."
2-Why is IVR important?
IVR is therefore ideal for customers on the go, allowing them to reach out for support even when they are in-store. For this reason, IVR plays an important role in boosting sales, as potential customers are more likely to purchase when their questions are answered efficiently.
This is the answer of vocal.com blog in its article about "5 Key Benefits of IVR for Customer Service"
1. Easy to setup
2. Customer friendly
3. Allow you to automate customer support
4. Give your customers a personalized experience
5. Reduce transfer errors
3- What is an IVR solution banking?
Most of calls banks uses IVR over months. The important problems will be delivered to the related expert but the simple ones will be answered and done IVR system banking such as:
Investment portfolio updates and status
Loan application and loan status and updates
Emergency and complains
Request and customer care
Quick Fraud Notifications
Fee collections and notifications
4-How the IVR works?
Interactive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and DTMF tones input via keypad. (Source: Wikipedia)
There is a good answer for this question on quora.com which we put the summary of all of the answers of the questions about "how IVR systems works" here for you.
Putting this in simple words, IVR acts as a virtual receptionist and is available to communicate to callers 24*7. When a person calls, call is automatically received.
Then, the caller inputs certain number as given in the menu and depending upon his own query
Taking an example, lets say you call a ABC company that has an IVR system. The company has two departments, Sales and HR.
When you call, you’ll first hear a greeting message “Welcome to ABC company”. This welcome message can be customized as per company’s requirement.
After the greeting message, you’ll hear a menu:
Press 1 for Sales
Press 2 for HR
Depending on the query you have, you’ll press the required number and you’ll be connected to the concerned department.
In some cases, option of voice mail is also available. That is, if none of the agents are available, caller can leave their message in the voice mail.
IVR system works as an auto attendant system or auto-receptionist, it answers every call automatically with a pre-recorded welcome message and takes input through a DTMF response.
On receiving a response, it forwards the call to the right customer service agent.
An IVR system (IVRS) accepts a combination of voice telephone input and touch-tone keypad selection and provides the appropriate responses in the form of voice, fax, callback, email, and other contact methods.
IVR systems can consist of telephony equipment, software applications, a database and supporting infrastructure.
An organization can run an IVRS in house purchasing the software and hardware required, or it can opt to go through an IVR hosting service that charges a monthly fee.
An IVR application provides pre-recorded voice responses for appropriate situations, keypad signal logic, access to relevant data and, potentially, the ability to record voice input for later use.
Using computer telephony integration (CTI), IVR systems can hand off a call to a human being who can view data related to the caller on a display.
Steps in the IVR call are :
- Caller calls the company
- Caller is greeted the IVR already set
- IVR guides the caller through the options
- Directs to the most right agent
You can watch a video about How IVR works on our linkedin page.
5-What is IVR testing?
IVR testing is when a contact center tests its IVR system and infrastructure with lots of traffic to see if it falls over.
IVR's can have fail points in various areas and there are different tests for the main culprits. Load testing and stress testing are the most common types of tests.
watch this video
6-What does an IVR do for customer engagement?
The answer is in this list according to an article in usan.com. Chech the link if you like to read the explanations of each item.
1. Efficient Call Routing
2. Automated Self-Service
3. Faster Access and Service
4. Easy Menu Options
5. Advanced Speech Recognition
6. Personalized Caller Information
7. Always Available Service
8. Professional Service
9. Reduce Hold Times
10. Personalized Offers
7-What are IVR solution uses for a company?
If you have a business where customers call you, and you have a call centre, there are dozens of ways to use IVR applications to improve sales, increase customer loyalty, improve efficiency, marketing, and decrease the costs.
This is a good list of IVR use cases, you can read more about the items on twilio.com
1. Lead Routing
2. Marketing Promotions
3. Payment Processing
4. Appointment Reminders
And also there is another list of IVR use cases here.
1-Measure and Improve Customer Support with IVR Phone Surveys
2. Generate Phone Leads for Marketing Campaigns
3. Score Phone Leads Before Passing to Sales
4. Receive Customer Feedback on New Products for Customers Testing in Beta with Inbound and Outbound IVRs
5. Conduct Market Research to Decode Purchasing Preferences, Habits, and Needs
6. Increase Sales Delivering Automated Calls to Customers Soliciting Reorders
7. Manage Inbound Calls Automatically Using an IVR Virtual Receptionist
If you like to know the benefits of IVR in healthcare,so yo can read this post.
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