Cake and conversation

How digital transformation and COVID-19 have cooked up a new era for speech analytics

There seems to be a resurgence of speech analytics going on all around us. Maybe this is linked to COVID-19, as many more conversations are taking place over phone, video or chat. Or perhaps this resurgence is just part of the wider process of business digitization. The reasons for its use in business appear to be markedly changing, however.

Once speech analytics was focused on compliance or agent performance management / quality management. Now it appears to have wider and deeper remit.

There is still a place for compliance and performance management, of course. However, the new drivers are more strategic and impact core business KPIs: reducing costs; improving revenues; and detecting broken processes that are invisible to the digital or automated channels of communication.

The building blocks have also radically changed. I am amazed at how many organizations are still looking for speech-to-text technologies. When asked “why do you want this?” they talk about the wider need of linking this intelligence to other data in their systems of record. This is valid, of course, and tremendous insights can be gained from these initiatives, but why start with the raw conversation?

It’s the old adage: if you want to bake a cake, you don’t buy a dairy, a mill and a sugar plantation. You buy the ingredients you need to bake a cake, not what it takes to make the ingredients.

The new wave of speech analytics solutions delivers topics, intent, question detection, summaries of conversations and much more, all out-of-the-box. These are the pure ingredients that the digital baker needs to bake their conversational intelligence cake.

More than ever before, organizations need to take advantage of the wider range of intelligence that these solutions provide. In this new normal post-COVID, where customers and staff are increasingly interacting via digitized channels, we must take care of all this additional data in a way that delivers useful and actionable insight. One thing is certain, agility and insight are rapidly becoming the most important tools in dealing with shifting customer needs.

Your speech analytics toolset should be able to deliver what you want or need without an issue. The point is that you should be able to choose and also be able to change your mind at any time: whether you want a bite, a slice or the whole cake.

Can your speech analytics toolset deliver this?
If you want to take advantage of the benefits that speech analytics can offer, why not get in touch?

Speech intelligence for the masses

Why customisation and quality no longer break the bank

I like cars and I am certainly not the only one. In this complex world of digitization, the sector is regularly used as a reference to “get the message across”. But has the speech analytics market got something to learn from the automotive market?

As it happens, I have been reading about the origins of Bentley Motors. Not for any reason pertaining to work or my industry, but purely because I just like these cars, particularly the old ones.

Mr W. O. Bentley founded Bentley Motors in 1919, so it has “clicked” its 100th birthday. Happy birthday Bentley! It is an astonishing story and a real British success (yes, I know it was acquired but choose to ignore that bit, the success is British in my eyes).

Then it hit me… hang on… Bentley’s story 100 years ago is much like the position the speech analytics world is in today.

100 years ago, people needed to get from A to B. So, if you had a few quid, you popped down to your local Bentley chap and ordered a car. This was quite a process as it was built to exacting needs. It was also quite expensive. Several months later you received something that solved the problem of getting from A to B rather well.

This solution was for the elite, the top of society.

Of course, we still need to get from A to B today, thanks to advances in technology and production, the solution is open to the masses at a fraction of the price.

Similarly, the speech analytics market used to be super-expensive and hyper-customized, it would take ages to deliver value, and only the corporate elite could afford it.

Today, advances in technology have made speech analytics an option for a far greater number of businesses, from small firms to large enterprise companies. It is now possible to get affordable speech analytics software, that can be customized if necessary, but that offers rapid value with an out-of-the-box solution.

As the economy starts to recover from the impact of lockdowns resulting from the Coronavirus, businesses are going to have to take every opportunity to ensure that they have the most effective tools they need to succeed. There are not many businesses who could claim that they would not benefit from greater insight. More intelligence about your customers and their interactions with you will enable you boost customer satisfaction and give improved customer experience. It will help you to close more deals. It will also help you to automate mundane tasks, freeing up staff to focus on other areas of the business that can help firms to recover from any downturn.

If you want to take advantage of the benefits that speech analytics can offer, why not get in touch?

 

Contexta360 research finds Speech Analytics is not yet reaching full potential in UK Contact Centres

Fewer than half are using Artificial Intelligence and real-time automation and analytics features

LONDON- 11th December 2019Contexta360, a leading speech analytics, AI and conversational computing company, today released the results of research into the deployment and use of speech and chat interaction analytics in UK contact centres and the view of voice calls as a customer support channel.

The survey polled 250 UK-based contact centre managers and found that although 92% have some form of speech analytics solution in place, a high proportion (43%) have deployed it in the past 12 months. Analysis of the responses reveals that, while using speech analytics is common for compliance and agent monitoring, organisations are not leveraging the full capabilities of the technology and less likely to be realising the real-time automation and intelligence benefits it can deliver. The findings also highlighted problems using call recordings with third party analytics software and the fact that newer users are experiencing difficulties.

Key findings:

  • 92% are using some form of speech analytics; 43% only started using it in the past year
  • 46% said they found it challenging to use recordings from their speech/chat technology with third party analytics solutions; a further 11% said it was not possible at all
  • 54% of deployments have no AI or deep learning capabilities
  • 57% say the voice channel is still important for customer service; 14% said the days of the voice channel as a customer service medium are numbered
  • Improved customer satisfaction, greater customer insight and improved compliance are the top three benefits speech analytics users hope to achieve.

 

Low AI adoption and significant integration difficulties

Fewer than half of surveyed organisations reported that their speech analytics platform has any AI and deep learning capabilities (46%). Only 43%  were using AI to auto-summarise call actions while 41% used it to auto-complete C-Sat/NPS surveys based on call contents and under half (48%) were using it to auto-inject the conversation into the CRM record, a facility that significantly improves the accuracy and future value of customer intelligence.

Respondents also reported difficulties using their call recordings with third party analytics platforms. Overall 46% said this was challenging and not as easy as they would like, while 11% said it was not possible at all. Among those who have deployed speech/chat analytics in the past year, the percentage finding this difficult was much higher – 68% said it was challenging and twice as many respondents said it was not possible compared to those who had used the technology for a longer period.

Commenting on these findings Andrew White, CEO, Contexta360 said: “The research indicates that enterprise adoption of speech/chat analytics is at an inflection point: companies are deploying the technology but not necessarily accessing the full range of advantages that are available. Interoperability with third party solutions is a challenge, especially for newer users, while use of the more advanced automation features offered by AI-powered interaction analytics platforms is not yet widespread. It is also clear that legacy vendor solutions are not easy to use or align to customer needs.”

“There is a clear opportunity for contact centres to deploy these additional capabilities to improve efficiency, accuracy and agent productivity. When scoping out providers, the focus needs to be on open, flexible technology that offers fast time-to-value.”

Agent performance, call intent and compliance are the main uses of speech/chat analytics

The most popular use of speech/chat analytics by respondents was to monitor agent performance (50%), followed by detecting the intent of the call (49%) and compliance with regulations (47%). Only 39% were using it to detect the sentiment of the call.

Larger organisations (5000+ employees) and those with more than 150 agents in their contact centre placed more emphasis on monitoring agent performance. Mid-sized businesses were more likely to be using speech analytics to detect the intent of the call and to assess compliance.

The enduring importance of the voice channel in the face of digital alternatives

Overall 57% of respondents said the voice channel was important to customer service provision, but among these there were reservations. 19% felt it was a necessary but costly medium for customer service and 15% felt it was important but hard to get usable insight and link it to other channels. 18% said they were actively looking to move customer interactions away from the voice channel as far as possible, while a further 11% agreed that the voice channel is of decreasing relevance to their business compared to digital alternatives.

Organisations that have been using speech/chat analytics for more than one year were more positive about the voice channel, with 28% rating it a premium channel with high value to their organisation, compared with only 20% of more recent adopters. More recent adopters of speech/chat analytics were more likely to say the days of the voice channel are numbered, with 18% holding this view compared with 10% of more mature users.

Andrew White, adds: “The voice channel continues to be important to consumers, particularly in the moments that matter when they need urgent help, when there is a high value transaction or customer conversation or a sensitive escalation, therefore it is still important to businesses. If contact centres can see beyond using speech analytics mainly for monitoring and compliance purposes, and realise the automation and real-time agent augmentation that AI-powered platforms can deliver, they can turn that channel from a costly burden into a competitive advantage.”

-ends-

Research methodology

The research was conducted by independent research company, Opinion Matters, in November 2019.

250 contact centre managers were surveyed, with half representing companies with 500-4999 employees and half representing companies with 5000 or more employees. The survey explored how organisations are using speech and chat analytics, ease of use, how well it integrates with other technologies and platforms and the benefits respondents aim to realise.

About Contexta360

Contexta360 helps enterprises capture voice and video conversations across multiple languages, transcribing and analysing them for biometric, compliance, sentiment, topic, context, effectiveness and CX. Build a 360-degree view of customer interaction by analysing your conversations or transactional history from chat, email, social and CRM / ERP data files. For more information please go to www.c360.hup-agency.co.uk.

Contexta360 achieves record revenue in Q2

Contexta360 speech analytics, AI and conversational computing has record revenue in quarter 2 fuelled by its indirect reseller channel

LONDON- 25th June 2019Contexta360, a leading speech analytics, AI and conversational computing company, today announced it had achieved a record quarter for revenue predominantly from indirect reseller channels including AmberScript, KPN, 24Sessions, and TKCdigital.

Contexta360’s class-leading speech-to-text and call analytics solutions have enabled our partners to deliver innovative compliance, sales/service optimization, CX solutions all the way down to basic transcription services for their clients.

Notable wins this quarter include very significant telco, automotive and financial services clients, with more than 10,000,000 minutes of conversational analysis added to the Contexta360 platform.

Andrew White, CEO of Contexta360, says: “Speech analytics and AI is a hot topic. Our partners see significant value in using our class-leading technology to deliver immediate value and return on investment through to their clients in an easy, cost-effective and pragmatic way. Our solutions, which are delivered to our partners via the Contexta360 cloud service, offer the highest quality of speech-to-text, text-to-understanding, and understanding-to-insight and action.

“We are also able to offer our partners, and their respective clients, significant value as we have purposely designed Contexta360 to be self-sufficient, allowing the client to leave any legacy investments in call centre, recording and systems of record in place. We augment this investment with technology that analyses historical and real-time calls and interactions. Our AI-driven speech intelligence platform is designed for organisations seeking to know their customers better, improve agent sales and service performance, quality and ensure compliance.”

The Contexta360 Platform is delivered in 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 AI, additional data sources and process rules to create actions that improve revenue, customer experience, scale and learning, and reduce risk and cost.

The platform has the following modules:

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

Contexta360: Assist – to assist an agent in real-time or summaries actions.

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

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

Contexta360: Compliance – 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 – to mine and report on the data by date, team, enterprise, function, context, term, to help gain insights and to take action.

Contexta360: Omni Channel – 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,” Andrew explains. “I am fortunate to be working with some of the best speech scientists, AI, 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 per cent of the journey. Real insight comes from understanding, a new level in speech quality and a flexible approach to customer engagement,” Andrew concludes.

About Contexta360

Founded in 2017, Contexta360 is a high-growth company with headquarters in Amsterdam, offices in London and Frankfurt and is now a globally focused entity targeting large enterprises. The organisation has a simple mission: to harness the power of conversational intelligence to improve customer retention. Contexta360 seeks to understand the meaning behind speech in order to improve relationships and interactions.

Contexta360 has a team of highly skilled software developers and computer scientists with a passion for artificial intelligence, speech-to-text, and natural language understanding. It helps customers build a 360-degree view of customer interaction. This helps enterprise organisations capture voice and video conversations across multiple languages, transcribing and analysing them for compliance, sentiment, topic, context, effectiveness and customer experience. For more information please go to www.c360.hup-agency.co.uk.

Contexta360 enters a strategic relationship with Dutch Telco, KPN

Dutch Telco, KPN partners with Contexta360 to provide enterprise-grade Speech Analytics and AI to increase client revenues, control risk and improve customer experience

AMSTERDAM / LONDON June 3, 2019 Contexta360, a leading speech analytics and conversational computing company, today announced it has signed a strategic partnership agreement with KPN, a leading Dutch Telecommunications provider.

The agreement delivers class-leading speech-to-text and call analytics solutions to KPN’s API Store as well as advanced speech analytics, compliance and real-time capabilities to their call centre and CX team. This wider portfolio of capabilities will allow KPN’s customers gain greater insight into call context, but also improve clients’ compliance, quality and revenue opportunities.

The agreement will extend to Contexta360: Speech-to-text, Contexta360: Analyzer,  C360: Qualitymonitor, C360: Connect and C360: Assist and will allow KPN’s clients  to analyse tens of millions of call conversations for sentiment, compliance, key selling  or service opportunities and dramatically improve agent training and quality performance metrics both in real-time and post-call analysis.

The relationship will enhance KPN’s portfolio and enable customers using Genesys, Avaya, Mitel, NICE, Verint to add significant capabilities without the need to replace any of their current technology.

“Speech analytics and A.I is a hot topic for our clients as there is immediate value and return on investment. Applications and use cases differ from client to client, but we already have numerous prestigious brand clients whose centres are processing millions of calls and benefiting from incredible insight into their own client interactions. Moreover, it’s easy-to-use and fast to integrate via the APIs” said Wouter van Schaik, Lead at KPN API Store.

“KPN are a great team and company. It is a delight to be working with both them and their clients. Our solutions are purposely designed to leave the legacy investments in call centre, recording and systems of record in place. We augment this investment with technology that analyses historical and real-time calls and interactions. Our AI-driven speech intelligence platform is designed for organisations seeking to know their customers better, improve agent sales and service performance, quality and ensure compliance”  said Andrew White, CEO at Contexta360.

The Contexta360 Platform is available as a cloud service or on premise, which proves very popular with government, security and Financial Services clients. The platform 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.

The platform has 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 in real-time or summaries 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 to 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 at 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

Founded in 2017, Contexta360 is a high growth company with Headquarters in Amsterdam, and offices in London and Frankfurt and is now a globally focused entity targeting large enterprises. The organisation has a simple mission: to harness the power of conversational intelligence to improve customer retention.  Contexta360 seeks to understand the meaning behind speech in order to improve relationships and interactions.

Contexta360 has a team of highly skilled software developers and computer scientists with a passion for artificial intelligence, speech-to-text, and natural language understanding. It helps customers build a 360-degree view of customer interaction. This helps enterprise organisations capture voice and video conversations across multiple languages, transcribing and analysing them for compliance, sentiment, topic, context, effectiveness and customer experience.  For more information please go to www.c360.hup-agency.co.uk.

Overstappen.nl signs Contexta360 to provide advanced AI and speech analytics

Leading energy switch company Overstappen.nl has signed an agreement with Contexta360 to provide class leading Speech Analytics and AI cloud services that will deliver insight into customer interactions.

AMSTERDAM / LONDON May 28, 2019 — Contexta360, a leading speech analytics and conversational computing company today announced it has signed an agreement to supply Overstappen.nl, a leading energy switch company with its cloud software solutions.

The solution includes an advanced integration with Overstappen.nl’s CRM system. This enables calls to be fully transcribed, analysed for items such as sentiment, key question detection, reasoning for switching, topics, context profiles and added directly into the CRM record.
Frederik van der Veen – CEO at Overstappen.nl said: “Contexta360 delivers a level of insight that enables us to provide incredible value to our suppliers, the energy providers, but also to our customer support team leaders who can now ‘see and analyse’ what is being said between or staff and customers”

Andrew White – CEO at Contexta360 commented: “CRM integration is a powerful capability that captures all the detail and nuances within a conversation and injects this into a CRM record, as well as allowing leadership to search for trends, C-SAT or compliance criteria. Typically most CRM is configured with drop-down fields and free text that is not searchable or indexed. Overstappen.nl can now run queries such as ‘give me all calls in Q1 where Customer Satisfaction is less than 90%’, or ‘Give me all calls that mention the energy provider Nuon’.

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 AI, 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.

TKC digital signs strategic partnership agreement with Contexta360 to add advanced AI and speech analytics to their portfolio

Leading knowledge management and contact centre strategy company, TKC digital has signed a reseller partnership agreement with Contexta360 to provide class leading Speech Analytics and AI cloud services that delivers insight into customer interactions

AMSTERDAM / LONDON May 25, 2019 — Contexta360, a leading speech analytics and conversational computing company today announced it has signed a reseller agreement with TKC digital, a leading knowledge management vendor and call centre consultancy.

Contexta360 supports TKC digital by analyzing and improving the customer service journey

The agreement leverages TKC digitals knowledge management technology, Oracle Service Cloud, Oracle Knowledge Advanced  and the Oracle Digital Assistant solutions, as well as their expertise in wider contact centre and digital service best practices and consultancy. The agreement allows TKC digital to analyse millions of call conversations, for sentiment, compliance, actual questions asked by customers, key selling  or service opportunities and dramatically improve agent training and quality performance metrics. It is TKC digital’s mission to help answer customer questions first time right in both the human assisted and digital domain.

The relationship will provide an advanced integration with TKC digitals knowledge management platform as well as the wider Oracle portfolio of solutions.

Tinky Bart – CEO at TKC digital: “We see a significant convergence in the areas of knowledge management, call centre operational performance process and speech analytics technologies. Contexta360 delivers a level of insight that, combined with our class leading software and services can transform call centre service, revenue and experience. It will help contact centres to focus on what matters, increase quality of contact, prevent double contacts and be quicker at the same time. We are now able to provide incredible insight to our clients executive management and team leaders who can ‘find, see and analyse’ what is being said with their customers”

Andrew White – CEO at Contexta360: “Knowledge management integration into our AI and Speech analytics platform is a truly powerful capability. We are now assisting agents with  ‘Real-time’ speech analysis that understands the call content and critically context so that we can prompt answers and next appropriate actions to the agent sourced from knowledge management and CRM data.”

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 AI, additional data sources and process rules to create actions that improve revenue, customer experience, scale, learning and reduce risk and cost.

What makes Contexta360 unique?

“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. “I am fortunate to be working with some of the best speech scientists, AI, 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 build a 360-degree view of customer interaction. This helps enterprise organisations capture voice and video conversations across multiple languages, transcribing and analyzing them for compliance, sentiment, topic, context, effectiveness and customer experience.

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.

Omnichannel Reality

In this blog we will cover the real needs of modern omnichannel contact centers.

We discuss going beyond multi-channel routing and call options and into omnichannel conversational analysis, real-time data strategies, post interaction actions summary and quality and performance capabilities.

This is part three of a five-part blog series looking at how AI, speech analytics and conversational computing is changing the processes, efficiency and CX / C-Sat metrics within many organizations around the world.

  • 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 four covers how these speech technologies are helping to transform sales and service functions and leadership.
  • Part five concludes on the future vision for speech analytics and conversational computing.

In this blog there are two areas I would like to expand on. The human-to-human omnichannel dynamic, and the human-to-automated conversation service.

Let us start with H2H.

“Your next call will connect in three seconds”

Wow. Agent pressure to listen, understand and digest in real time is becoming a significant pressure point. We have released options to our customers to get information, request services, or make transactions across multiple channels. We all now openly use our apps, IVRs, websites, forms, chat sessions and send emails and, in most cases, this is well received by the consumer as it means we can do what we want without needing to talk in real time, or on someone else’s availability. We are truly in the world of NOW.

Recent surveys have identified that, on average, the human customer interaction point is now managing around 60 per cent of total channel interactions (40 per cent having been automated / self-service enabled). This naturally differs from industry to industry, but in just about every industry when the call matters the need for excellence amplifies. Interactions that matter are critical moments that directly influence CX / C-Sat, customer retention, acquisition and revenue. They include situations relating to complaints, key client requests, big sales movements, complex transactions or compliance requirements and so on. When the call matters, real time is best, but the agent has a lot to process and this impacts quality of service.

  • What did the customer say in the voice channel yesterday / last week?
  • What did the customer write in the chatbot earlier today?
  • What product updates have been released internally recently?
  • What is going on externally (live feed news / Bloomberg etc)?

And the list goes on.

Our key resources have to absorb not only the content of previous or recent interactions, but also the context, sentiment, importance and relevance across all channels – and all in the nano-seconds before connection. This is practically impossible for the human being.

Our teams need help. They need a mechanism to pre-brief them in the three seconds before the call. A pre-briefing that considers all historical communications, transactions and across all channels. Not just that there was a call, email or chat session, but the context of the communication, the sentiment and perhaps the sales stage or service/ support stage based on language used in the previous calls or written communications.

And the H2D conundrum is probably even more critical as in many cases the interaction content is invisible. We may be getting transactional data, but not the context, content or sentiment. At best we record these transactions (voice response, chatbot or email) but few digitally digest the content.

Therefore, in parallel, there is also a need to monitor the automated channels for “moments” – these may be moments of frustration, potential complaint or, more positively, perhaps moment of imminent sale. These are moments where AI technology can analyze the communication and conversation, detecting the trajectory of the call, and relate this to the customer profile, product complexity, CX impact and revenue / cost implications. These are digital conversation moments that, ideally, would be best escalated to a real-time channel, whether voice, video or chat, to be handled optimally. Let’s face it, we humans are pretty amazing. The computers are not taking over just yet.

See you at the next blog “Transform your sales hit rate, quality of execution and highlight the forecast ‘gamers’”