Making the invisible visible

Much of what we do well and much of what we do not do well is invisible to our sales and service leadership.

This is part four of a five-part blog post looking at how Speech Analytics is helping sales and service leaders optimize their teams, CX, revenue and the service they deliver.

  • Part one covered “do you think you are digital?” This highlights the gaps in more than 50 per cent of customer interactions.
  • Part two covered the issues relating to whether humans have the technologies to support them in an increasingly challenging customer interaction function.
  • Part three covered the “real needs” within omnichannel and real-time data strategies.
  • Part five concludes on the future vision for speech analytics and conversational computing.

Of course, we probably do know who our rock stars are. We probably also know who our weak links are. But do we truly know why and how? There are also the staff in the middle ground who are not bad, but also not great. With a little bit of guidance, they may make the transition to high-performing individuals. This is transformational for a company.

There are also other factors that impact performance that may not be down to the skills or attitude of the individuals on the sales or service desk. It may just be that the question is complex, the solution is complex, or things are happening around us that the poor guys just cannot keep on top of. This could be product changes, price changes, promotions or other external factors, whether they be market moves or competitive pressures.

The guys on your front line of sales and service have a tough job. It is fast, dynamic, changing and real-time. So, in short, those who do the job need help and those who manage need insight to curtail the gamers of the system, remove the weak, but also to scale best practice.

Let’s tackle invisibility first. Whether you manage a sales team or a services team, the tangible data you have available to you is typically very limited. Most organizations leverage CRM/SFA/ERP/ITSM or field service applications. You may also get call transaction data, such as when the call was, the DNIS/CLI/duration/agent login and so on. You may also do some surveys or samples of customer interactions, but this is typically a small percentage of all the interactions, and of course it is all very fragmented. Much of the data comes from the individual you manage and the data you capture is very limited, i.e. drop-down fields, and there is often way too much for the poor sales or service guy/gal to complete during the call. I am yet to find an organization that is 100 per cent on top of its CRM data entry. We are just human and there is only so much time in the day.

Solving the sales and service front-line challenges starts with automating and capturing the context of the call at a much deeper level, automatically. This means not only getting the electronic transcript (i.e. basic speech-to-text), but also getting the true meaning and understanding of the call using AI and NLP techniques. In this way, we truly connect the dots on why high performers perform. We see their questioning techniques, identify them and link this to actions and insights. This can be shared with the wider team to help them to learn and to emulate.

The sales gamers can also be highlighted. Many of us have heard the “bullish forecaster”: “Yeah these three deals are all at 90 per cent for the quarter and I’m committing to the forecast.” Fantastic. However, connecting the forecasted opportunity to context of the calls shows there is no mention of pricing and no mention of contract or GDPR, security, or timing. Therefore, the sales forecast can be checked against whether late-stage sales language is being used in the prospect interactions.

It’s not all bad process or bad staff. Assistance during call is increasingly valuable. Sales and service professionals have to manage a lot and during a customer call this is intensified. Speech technologies are increasingly being integrated with external data feeds and internal knowledge bases so that some of the pressure can be taken away from the agent, sales or service professional. We are now working with some of the largest organizations in the world where speech analytics and conversational computing technology is helping to augment the capabilities of the human. We digitally listen to live calls, analyse them for understanding in semi real-time and integrate with internal systems or external data sources to present advisory actions to the agent. This is dramatically improving first call resolution, sales opportunity and CX.

Channels, channels, channels. Many multi-channel or omnichannel strategies are designed to solve one problem, but regularly create many others. The main issue is, does the left hand know what the right hand is doing? This is immensely frustrating not only for the customer but also for the call handler, whether that be sales or service. Being pre-briefed before taking a call is massively impactful. In many cases the agent does not need all the details of all orders or all calls this week, or all emails and all chats, on their screen three seconds before the call. That is almost impossible to digest and be useful. But what is useful is a summary?

30-day interaction summary

  • 10 calls
  • 4 emails
  • 3 chats
  • Sentiment – LOW
  • Topics detected – XYZ
  • Products detected – XYZ
  • Complaints language detected
  • Negative words detected XYZ

So, in these scenarios the agent should have a pretty good understanding of the call context before taking the call. In fact, the data collected may also be used to impact routing or channels made available to the customer.

One thing is for sure, our staff are still a very powerful and capable resource. This is particularly true when the moment matters. Now we are augmenting their capabilities with truly incredible technologies, but also giving our leaders the X-ray glasses so they can see what is going on for real.

Contexta360 Secures €1.0 Million Seed Round Financing Led by VentureBuilders Capital

Speech Analytics and A.I company to accelerate sales, marketing, geographic coverage and execution of product roadmap

AMSTERDAM / LONDON April 8, 2019— Contexta360, a leading speech analytics and conversational computing company today announced it has completed a €1.0 Million seed round financing. VentureBuilders Capital led the investment round with participation from existing and new investors.

The investment will help the company expand its sales, marketing, geographic coverage as well as broaden and accelerate product development. Arie Kuiper, Partner at VentureBuilders Capital, will act as strategic advisor to the Contexta360 Board of Directors.

VentureBuilders Capital’s latest fund invests in B2B software companies that redefine or create large new markets.

The seed round builds on an exceptional year which saw the appointment of key senior staff, a rapidly growing roster of clients in the financial services, government, telco, contact center and logistics market places as well as solid execution of continued product development.

Contexta360 appointed customer interaction software veteran and business leader, Andrew White as CEO who brings global experience in product management, marketing, operations, sales, marketing and customer success. White previously lived and worked in the USA and Europe as well as having managed large business units in APAC.

Arie Kuiper – Lead Partner at VentureBuilders Capital said: “Contexta360 finally allows contact centers to have the same level of insight and control of voice interactions as they do of digital interactions. We are incredibly impressed with the quality of their technology, the speed with which they keep developing this technology and their professional behavior towards customers. We believe Contexta360’s products have the potential to lead a shift in their industry, and we are excited to collaborate with and support them as they work to build a great company.”

The Contexta360 Platform

The Contexta360 Platform is available as a cloud service or on premise, which proves very popular with their government, security and Financial Services clients. The platforms delivers three layers of capability, namely:

  1. Speech-to-Text   –  This is delivered across multiple languages, at extreme quality / accuracy and with the unique capability to learn industry lexicon / terms.
  2. Text to Understanding – Contexta360 has leading NLP capabilities and programming to enable the platform to turn text into understanding
  3. Understanding to insight and Action – Once there is understanding, we can leverage our A.I, additional data sources and process rules to create actions that improve revenue, customer experience, scale, learning and reduce risk and cost.

Our platform is delivered in the following modules:

Contexta360: Identity – The Ability to highlight if a caller’s identity is in question

Contexta360: Assist – The Ability to Assist an agent real time or summarize actions

Contexta360: Analyzer – Gain insights from the content and context of calls, track talk-time, topic of conversation, category, sentiment, C-Sat, key word analysis, spot questions.

Contexta360: Connect – Connect CRM platforms such as Salesforce or Microsoft CRM Inject transcripts, Add sentiment, actions detected, talk ratio, topics discussed to opportunity and account records

Contexta360: Compliance – The Ability to add one or many compliance questions that must be asked and answered so that high risk calls can be identified and highlighted to compliance teams

Contexta360: Quality Monitor – The Ability mine and report on the data by date, team, enterprise, function, context, term, gain insights and take action

Contexta360: Omni Channel – The Ability to integrate other communication data sources to gain a 360-degree context (Chat, Web, SMS, Social channels)

“As an industry we’re just scratching the surface of how powerful speech analytics can be to all organisations. The voice channel remains the ‘Prestigious’ channel, ideal for ‘moments that matter’ and ‘customers that matter’. However, organisations have very little intelligence on what is being said and how it is being said”, Said Andrew White – CEO of Contexta360. “I am fortunate to be working with some of the best speech scientists, A.I, developers and NLP PhDs on the planet. This is what makes us unique. There are lots of companies that do speech to text, but that is just 5% of the journey.  Real insight comes from understanding, a new level in speech quality and a flexible approach to customer engagement”, White concludes.

About Contexta360

Contexta360 is a high growth company based in Amsterdam and London. We are a team of highly skilled software developers and computer scientists with a passion for artificial intelligence, speech-to-text, and natural language understanding. We help enterprise organisations capture voice and video conversations across multiple languages, transcribing and analyzing them for compliance, sentiment, topic, context, effectiveness and Customer experience. We build a 360-degree view of customer interaction by analyzing your conversations or transactional history from chat, email, social and CRM / ERP data files.