Stellar Speech Analytics Program

Transcript

Matthew: Welcome everyone to the Stellar Speech Analytics Program. I  have the honor of hosting today with two amazing speakers. Amanda why don't you welcome yourself and tell us a little bit about yourself.

Amanda: Sure, hi everyone I’m Amanda Haney, I've been with Group Elite for almost six years and I  have over 20 years of contact center experience. I've worn many many hats within the industry agent supervisor leader director quality, analyst admin speech analyst been all over the contact center and have loved it.

Matthew: Wonderful, welcome, welcome. And hi  Eric.

Eric: Good morning good morning everyone happy to see you again a little bit about me I've been the business for 20 years also a little bit of a diverse background so I've done pretty much everything that can be done i've installed integrated systems, I've done pre-sales sales architecture and very happy to share with you best practices today.

Matthew: Wonderful, well you know what let's go ahead and get started. First of all, uh feel free to use the chat in the Q & A box as we go along today all of your lines will be muted but the chat in the Q&A is open to ask questions at any time. To get us started you know the group a much larger group at Group Elite we got together and we were talking about what makes the perfect speech analytics team you know what what makes a successful program and also what makes programs not be so successful and as we were talking about some of those concepts there were two or three things that kept coming up over and over again at just a very high level to just get our conversation started today and the first one was I  kept hearing it's not a set it and forget it speech analytics isn't a thermostat it's not something that you just install it regardless of what vendor you choose you to put it in then everything just starts working and it makes your you know life better and so I  don't know if Amanda if that's something you've seen as well but it just I  kept hearing that over and over again. 

Amanda: Yes, I  think this is one of the biggest myths with speech analytics you can't just set it and forget it you really have to have a dedicated person there working it finessing it touching it playing with it every day.

Matthew: Yeah and you know as I  think about this um I  think of some software eric that you know you just use it and uh you know you install it and then it maybe routes calls better or it moves things to the cloud faster or something but it's not always that case with speech analytics

Eric: No it's not it's something you need to care about every day. I mean customers live through it right if something happens in your contact center like AHD spikes up you need to take care of it you need to figure out what's going on why it happens and try to solve for it in real time, so definitely speech is a tool to use every day throughout the day.

Matt: Okay very true uh the next major insight that I  kept hearing over and over again was that speech analytics doesn't just change your business you know it's uh it in and of itself doesn't take a lot of direct action it's more of the insights for that and I don't know uh if you have some examples of that Eric or Amanda but that I  keep hearing that as well.

Eric: Absolutely I’ll start and maybe Amanda can complete. Definitely, speech is not the only tool it's a tool in the toolkit to run the business efficiently right so maybe you start with an analysis of a trend or something that happens in your call center operations and then you take the data and merge it with other data from the business and other solutions that you have to have a comprehensive view of your operations. So it's one of the tools in the toolkit provide a lot of value very very fast but differently is not the end of it it needs to be merged with other data at some point to make true value of the solution.

Amanda: Absolutely speech can highlight themes and opportunities within a business a hundred percent that's what it's really really good at doing but highlighting those themes and trends just draws attention to them. You need somebody that can actually execute recommendations who can generate recommendations to really solve those opportunities within the world of your business.

Matthew: Yeah very true very true. uh and then the last one is as we think about a stellar speech analytics program, I  think about people that are using it for a complete variety of different things that they're not just using it for agents or they're just using it in marketing or they're just using it in siloed places maybe Amanda maybe share some things or Eric that where you've seen it's much bigger than that no?

Amanda: Absolutely, we've seen just one simple analysis focused on repeat calls transforming marketing collateral that goes out driving enhancements on the website agent scripting needs to be updated it's not just one thing and that's what the one of the goals of a good analytics team should be is to take that big analysis with all of the information that they've compiled through all of their listening through all the phases of the analysis and break them down so they're digestible and actionable for other groups within the organization. It's not just for agents it's for everybody that wants it.

Matthew: Yeah good point. So you know we covered these three things that I  think are wow they seem so negative like it doesn't do this they can't do this it won't do that you don't but there's actually we know there's a huge positive there's a big but coming here that is uh oh but um and the cool part about a speech analytics team is that there is so many different things that a speech analytics team can do with a tool and maybe Eric if you take us through some of those?

Eric: Absolutely, and and you can start anywhere right like and there's there's it's not only for agents we can start with operational efficiency right some customers will say how do I  get to better first call resolution well let's see how the agents interact with the customers and fix that right. Other people will want to analyze the full customer journey right we got for example chief data officer that will use the speech analytics combined with other data to understand what is the customer journey across my bank or as a utility client how do I  treat my customer experience. So you can start anywhere you can also manage your entire um customer experience from there and basically serve the entire corporation.

So again we see we see customers starting just about everywhere you can start from the marketing angle, you can start from the operational efficiency angle, you can start with a business challenge that you have and kind of solve for that challenge first and then extend the usage of the solution to the other um other challenges of your business.

Matthew: So I  think what we're trying to accomplish here is beyond just we use it for categorization or we just use it for AQM or we're just using it for this. It's our goal to help you and especially with this webinar so we want you to have all of these things, I  know speech analytics can be this level of where we're just using some basic things to we're doing some really advanced things um. As we think about this from word spotting being a very basic functionality to incorporating it into all of your CX practice um, Eric where do people fall in this? I  mean are most people doing all of these things or are they just getting to the bare minimum what because by the way. I  asked and about 75 percent of the people attending today already have speech analytics and then 25 don't so maybe that will help you uh phrase your answer.

Eric: uh absolutely and and we very often refer to the maturity model right not every customer is at the same maturity level. And it's normal it takes years and years and years to master speech as a tool right? So we see customers that have just started to use it they know how to use the tool but they don't really have full practice we can help with that right. We see customer that actually have a very good practice but only use it in a single line of business so again we can help to cross-pollinate across the organization. We see customer that use it only for internal usage but not external with the customer so customers just stand at various level across the maturity level and and we can just bring them where they want to be.

Matthew: Sure well so let's get into building that team uh you know and what it takes to actually build that stellar speech analytics team. Amanda i'm gonna turn the core part of this over to you to just kind of walk through some of the questions that you might ask um before you do that let me just point out that everything that we're talking about in today's webinar we've actually documented into an ebook.The good news is that right at the end of today's session we're going to send you an email it has a link to this and you can so if you're you know about to take notes or you're,  you know about to feverishly take down everything that amanda says you know just just listen enjoy and by the way use the chat and Q&A as you go along because a man is going to talk about each one of these topics and then in the end you'll have it all written out as well. Amanda let's start with the first one and we'll turn it over to you.

Amanda: Awesome. Thank you, so number one who should be on and leading a speech analytics team. We take a step back and we look at the most successful teams each of those teams had four main pillars for the ideal leader or speech analyst. So I  want to go through those four main pillars that we were able to identify. The first one is previous excuse me previous contact center experience analysts or even leaders that have walked in the shoes or have a strong understanding of how the business works and runs knowing the jargon the syntax the products offered how the agents are expected to handle, that serves the speech team beyond measures. So definitely previous contact experience. To be an analyst or to lead an analytical team you kind of have to have an analytical mindset. So it's critical because analytics unlike a lot of other department or areas within an operations contact center, analytics are not black and white, it's complete the opposite I  like to say that the people that make the ideal analysts are the ones that color outside the lines and that don't have just a palette of 10 or 12 colors they're the ones that are mixing every color together to get new colors. These are the people that constantly ask why they're the ones that peel back the layers of the topics like they're like all your topics are onions they're just peeling them back and peeling them back to see why. Which is an example of while hiring somebody from your QM or your quality monitoring team can be a blessing or a curse if you have people on that team that challenge and want to think outside of the check boxes and the yeses and those those are the people that make great analysts. You want to definitely find members who can focus on the good and the bad and the why. When we do presentations and when we do manage services we go into these meetings and we highlight the things that are really really good so the business can do more of those, but then we also call attention to some opportunities. But we explain the why behind those, you always have to give that why which is why that analytical mindset is so imperative to have. Self-motivator. I  don't know about you guys but those of you who do have speech analytics I'm sure you've listened to calls even our quality teams listen to calls. You have to be a self-motivator, because it's not an easy task these users that are going to be leading or on the team have to have the ability to listen to hundreds of calls while remaining non-biased neutral and again it's hours and hours of calls that they're reviewing for a single analysis. So they have to remain engaged while working solo and those are huge for any type of analyst. Last but not least, they have to be an effective communicator. Analysts need to be able to take all of those hours and hundreds of calls that they've listened to and they have to break those down into simple tangible actionable results that can be shared to the business. They can't have um I  always think you're gonna have like a strong backbone you gotta challenge the status quo because sometimes when you go into that meeting the information you're sharing is gonna be unpopular it's not gonna make everybody in the room happy to hear it, but at the end of that meeting you should be able to propose those recommendations and effectively communicating the drivers and the recommendations really really helps with that. So again those four main pillars: previous contact center experience, analytical mindset, self-motivator and effective communicator.

Matthew: So Amanda we had a quick question come in that's about how senior should a person be. So when you mention that confidence to maybe go to marketing or the web team or to product team and say that you know hey sorry to tell you this but your baby's ugly right right and it's like you know I  have empirical data that says this how how senior does this person need to be to be able to walk into a conference room and and tell maybe another group of leaders that something's not right?

Amanda: So it really depends on the company's culture um I  was in those shoes many many many years ago I  was brand new to analytics had been with a company for quite some time but was brand new in an analytics mindset enroll and I  had to go in front of a COO of client sales and say hey the rewards program you guys are offering is kind of backfiring it's not working and that was huge right like I  was nervous I  was sick to my stomach but I  had a leader there that had a really good relationship with that client sales person and they were able to kind of um help me a little bit break through that door. But I  think if it doesn't really matter there's no right or wrong way but if you do feel that you're kind of climbing up a mountain that is just not attainable, when in doubt bring call examples, play calls for that person um because that's your voice of customer at the truest level you're ever gonna hear, so if they're if they know it's going to be tough hey you know what matt let me play some calls for you so you can experience what the customer experienced.

Matthew: it’s not me telling you this.

Amanda: Yeah, it's it's actually coming from your customers. So and then that again takes you out of that hot hot seat because you're really just speaking on behalf of the customers.

Matthew: Sure wonderful well keep the questions coming guys if if you just uh just ask away we'll we'll get them incorporated here so back back to you amanda for number two, 

Amanda: Tthank you so what are the typical day-to-day tasks for a speech team so this varies um day-to-day tasks vary greatly on a speech team depending on what state of an analysis the analysts are working on. So in any one day you could have someone working internally with various departments understanding pain points goals gaps in information trying to find out and seek opportunities to plug speech analytics. They could be creating and tuning categories to identify and resolve some of those business opportunities. They could be in that call listening phase where they're reviewing calls they're trying to get that statistically relevant sample size needed so that the business can have confidence in the data that's being provided. They could be doing presentations you know taking all of those hundreds of calls and putting it into a nice pretty power point or of some other type of media that can be easily digestible to your various opportunities and departments that you're gonna present to.  Uh they could be generating recommendations, I  always say anybody that's on a speech analyst team a good analyst highlights issues and opportunities a great analyst provides recommendations so any analyst that's out there if you're not doing recommendations you've got to start doing it because that's where you get the buy-in from the business and it allows you to really highlight the return on investment that you can get from launching and rolling out the speech team. And then last but not least your analyst could be presenting insight to various departments to bring awareness of drivers and findings. So lots of different things that they could be doing and again it's a big cycle right you finish one analysis. You're going to start another one you finish that one you're going to start another one you might revisit an old one to see how your recommendations are doing but that's the typical day-to-day task for a speech team. 

Matthew: Got you.

Amanda: alright so where should the speech analytics team live? So unfortunately this is a loaded question because there's really not a single place for the team to live. We've seen speech teams live next to quality teams within marketing within operations within other reporting teams and every other place in between. When we take a step back and we look at the successful teams they all have a few things in common. The first one is actively partnering with the quality management team. So your QM teams always always always will listen to more calls than an analytics team can do, that's their job they're in their day in and day out meeting that quota for every agent that has to be reviewed. So partnering with them it really helps build the relationship and nine times out of ten your QM team is going to be up and aware of an issue before the speech analytics team or at the same time of the speech analytics team. So partnering with that team really helps keep those lines of communication open, but it's also really a good resource because they can help you suggest different analysis topics. You may even be able to include a couple of questions on a form that they can answer while they're evaluating the calls which can add another source of data to your analyses. I  think personally allocating the speech team with other analysts helps expand the influence of the team within the organization. If i'm part of a speech team that's partnered with average handle time reporting or even breaks and lunches those kinds of workforce reportings I  can get in there and understand aligning with those other teams, what's going on if there's a spike in AHT,  my communication my lines are open with that average handle time reporting team and they're going to be able to help me so definitely aligning them with other analysts so that if another analyst team is working on a project the speech analytics team can tag along and say hey did you ever consider blah blah blah we listened to some calls to help you out this is what we found um this supports or contradicts what you guys are seeing let's look at some more calls. Um definitely encouraging the team to work with other teams that focus on VOC or voice of customer helps greatly, any team that is speaking on behalf of your customers definitely definitely definitely needs to use speech analytics. It is one of the truest forms of data that you're going to get from an analytics team. I  know a lot of our customers use post call surveys which are amazing, but you have to have that speech analytics piece with it which actually pairs together so incredibly nice, because then you can see what surveys and call types or categories pair together really well. Are our highest call types the same within our customer feedback survey results like how do those manage together. Um and then last but not least the ability to build relationships. Um analysts should definitely be non-biased share insight directly from the voice of the customer it's critical that they can share information and just make it meaningful for the people who are going to be there. Um you can't go in like matt said and say that the baby's ugly you have to give data you have to provide support and you definitely don't say it like that so going in and having somebody that's non-biased that's going to be a secured win for the analytics team because that person they're not talking off of their opinion they're talking off of the data that they've collected through hundreds of calls that they have reviewed.

Matthew: Sure, and I  tell you what you know if you're depending on where your speech analytics team is today maybe go to the chat window now and here in our session click on chat and if you're not in QM and you're not in the marketing team where where are you within you i'd be interested to know maybe we just uh just type here in the chat window where where you're where your group is that you know i've even seen some in hr i've seen all kinds of different things uh you know feel free to add it in the chat or you have a question about that. I  know it's it's a complicated it's a complicated answer to say it depends it's what i'm hearing so right so yeah wonderful, wonderful well uh let's go on to the next one, Amanda.

Amanda: Sure, um so goal setting, why should we set goals for a team and what should they be? I  always like to tell especially new speech analytics teams when they roll out analytics they tend to see dollar signs very very big dollar signs in their future, but the goals really depend on the analysis and the departments. Not every analysis that you do is going to save 780 000 annually 4 million annually, but they all start with attempting to identify a behavior or a theme and all end with generating those recommendations that we talked a little bit ago about. So I  like to say some analyses will be reactive after the fact. An example of that would be you're reviewing htm information to understand what occurred to provide insight, so you're notified about it after the fact. And then I  also like to say some analyses will be proactive or pre-active either before and during the fact. So an example of a pre-active analysis would be you're rolling out a new customer you're having an analyst listen to calls live as they come in to provide insight to the business real time, so new launch of a customer you're listening to calls real time to see what's going on and those are some of the most fun analyses that I  was able to take part in. um I  loved providing that real-time insight it was just fun after the fact is really cool because then it's nice you see just a light bulb kind of goes off with everybody in the room as you're sharing what you found they're like that makes sense we did a website update and we didn't think to communicate that to our agents, that's what drove up our handle time yesterday aha. But leveraging the current opportunities that you have to get more opportunities for other departments is critical goals should always be smart specific measurable relevant timely actionable forgot the a on there. But they all have to have a goal so when you're looking to do repeat calls maybe your goal is to identify the top five drivers that cause people to call in more often, maybe you're doing the sales one and your sales one is to find effective bridges and rebuttals that make customers more likely to say yes to your sale. Butt those are just some of the different goals for the team that they should be it's going to vary greatly on the industry that you're in and what you're really tackling. 

Matthew: Great and then finally.

Amanda: When should I  ask for outside help. Um so I  don't know about you guys but asking for help can sometimes feel uneasy or comfortable especially for me. I don't like to do it but I  know sometimes we have to do it it's just going to make us better. Um so there are some ways that you can look at a third-party consulting company such as Group Elite and we can help with your speech analytics team. So companies like Group Elite can help enable your team, focus your team, build your team and we can even be your team. So our consultants have over 10 years of individual experience working leading and supporting speech analytics teams. So Matt go ahead and go to the next slide for me please. So let's talk about these four different pillars. So when we talk about enabling your team, Group Elite offers hands-on speech analytics training we use your company's live system to learn each of the workspaces within speech analytics as well as sharing best practices, so we are right there hands-on during that engagement working with you. We focus your team by offering quick win engagements these are very fun they're targeted engagements focused on specific topics or trends impacting your business. So if you want to know why customers close their accounts or why they're jumping from leaving you to go with a competitor, our quick one focused on customer turn will help identify those drivers. If you want to know what sales offers result in customers accepting our quick one focused on sales effectiveness is going to help you highlight those bridges and rebuttals. We can build your team by offering side-by-side mentorship as well as helping you hire the best candidates. These types of engagements are usually three to six months long, they're highly highly successful and getting new and seasoned teams more influence within the business that drive results. We can be your team by offering speech as a service, which is where we run your full analytics team. We build the categories we listen to the calls we compile the data we generate recommendations and we even present the information to your stakeholders. Eric I  believe correct me if I’m wrong, you've seen our team in action would you like to add anything?

Eric: Absolutely, I've seen your team in action, I'm always excited to be part of it. Um and i'd like to add this right it's it's a mix and match approach as well so customers will not only pick one of the options it's a combination of like for example we have a customer where we were be your team right, we managed speech for them for two years and then they became very self-sufficient and now now they can run it by themselves that they have that level of maturity right. So um customers really usually start somewhere but they're going to hire us to be the team become self-sufficient and move across the the maturity level. Matt do you want to go to the the next slide? Thank you all right. I'll walk you through guys now on the approach that we follow so it's a very uh very experienced methodology that's a little bit firm, but very open to adapt to our our customers culture as you'll see. So very interesting on how we we run speech as a service for you. So four steps, so Matt do you want to go to the next slide and then I'll walk you walk you through the secure and collect. So of course the first step is to collect information right we'll gather recordings we'll figure out what's the business objective behind it. We get very close right Amanda and Casey and the team get very close to the customer understand the processes the culture of the organization, uh maybe specific processes for the line of business we're targeting for the speech engagement. We'll review procedures uh, we'll we'll have specific calls that we target and data speaks for itself right so the first the very first step is to secure um collect the recordings and do it in a very secure manner. We also do it, thank you Matt, we also do it based on your industry right so the compliance rules and security rules and and they will vary if you're an insurance company if you're a bank if you're in the retail sector, these things tend to take a different angle, and we we we respect that for every single customer. Security is important to us. Then the next phase is to design and develop right, so I've seen a team do a very good job at this they'll go and and focus on specific keywords and phrases and combinations of those phrases and expression. For example, if you have marketing that you have a new campaign if you have a new product, maybe you're an insurance company or a retail company getting into a new sector of activity right, can speech can help you to evaluate is this working is it working well can it be more efficient. So the team will come and build the categories um fine-tune them as well right, like we said speech is alive so you need to go in every day and kind of fine-tune it and make sure it's accurate and we can fine-tune the accuracy as well to make sure that you read the benefit of the solution and then once we're ready we'll activate right we'll publish the categories so you can start using it live in the environment. So that's step number two. Step number three that's a little bit of the um the art and the science right so I've seen the team go in and do very complex analysis uh run statistical analysis of the data make the data speak a certain way right create reports use the existing report create maybe customize report and and prepare right prepare the data massage the data so it's organized in a way where we can eventually make the recommendation to your business, show illustrate what the data says and prepare how it's going to be presented, and again I've seen the team do a very good job at doing it and the customers processes if there's a little bit of politics involved maybe we do it in in a way where it's it's really well interpreted by the business, really well received and then that leads to number four right which is um the the challenge and change right so we create the presentation we can give it to you we can co-present we can present it for you so we're very flexible that way. So we'll organize it in a way where it's targeted for your audience so if we're presenting to your COO or your vp of marketing or maybe it's to the WFM team for operational efficiency no matter what the objective is it's presented in a way where we'll predict will present the findings that we have we'll present recommendations that the business can use and then really work with you right because at that point in time the real value is in the action plan, right?  Right Amanda I  see you not the action plan is very important that's when you take the recommendation the findings and decide what do I  do with it now I  got actionable inside, how do I  transform the insight into real action where now I  get value right. I cut cost I became more efficient I  increased sales maybe I  reduced the sales cycle by a couple of days a couple of weeks by the result, and then you increase your competitive advantage on the market. So those are the four kind of steps that that we go through that really really the team is doing a fantastic job at every single one of those steps.

Matthew: So we had a question about maybe preparing somebody internally for a big presentation uh maybe any examples where where we've done that where we've said all right this is what we found here's all the data here's the slides, I  know you're going to go to the meeting and present it like coaching that person before they go in and say here's what we found.

Amanda: We absolutely have, that's part of our 12-week analytic speech consulting journey it's also part of a lot of these um speech services as a team um engagements that we do we definitely if somebody has that data and we've helped them put that together we can help them and coach them to present it in a way that's neutral wording that doesn't slam the agents it doesn't slam the website team it doesn't hurt anybody that they're just speaking completely non-biased and appropriate about the information to garner influence, but then also to drive home their recommendations.

Matthew: Gotcha super, all right let's talk about some examples. Eric, you've mentioned a few.

Eric: Yeah absolutely, I  mean they're all good right, but some of them are going to become more are more popular. So just to highlight a few uh reason of calling why are they calling definitely most customers love that quick win approach right. We'll come in we'll run speech in a very focused manner remember when Amanda talked about the four things we can do for you quick ones are a very focused approach.We can come in the why are they calling approximately eight to ten week will come in and in this one in this case for one of the clients we save them thirty thousand dollars a month just by knowing why customers are calling and kind of reorganizing internally a little bit differently. One of the recent projects we've done was actually the um the no cherry-picking. Right using QAM and trying to prevent cherry picking very quick engagement three-week 25 increase so phenomenal result. Right so those are targeted to be very focused on one of the call center KPIs. Come in run the project for a couple of weeks we do it for you we show you how we did it and then you reap the value right away. Right so I'll give a very precise example we have a customer that we've installed speech it's running actually first day right very first day we were on a call the customer said I  had a question coming from the business and I  could answer the question on the spot right, how fast is time for value in one day only. And then we we're coming in to do a couple of quick ones in this case we're doing four of them right so we're coming in we're very focused on four of them and in a couple of weeks from now they'll be fully enabled on those those those four KPIs and then we keep doing some more. So again very focused approach a lot of return of value.

Matthew: So Amanda why don't you walk us through some of these examples.

Amanda: Yeah so I  was I  got to choose my favorite ones they're all I  always they're all my little children right, like huge hands in the pot of making these things come to fruition but four of my favorite ones that we've done recently um this is the first contact resolution FCR. We worked with a credit card company it was a four-week speech engagement. They wanted to know why customers call in multiple times for the same issue. And I'm sure a lot of people on today's webinar can appreciate that, you're like oh repeat calls our normal HT is here a repeat call it's here it's so much more expensive to service. So during this four week engagement we were able to reduce their average handle time by four minutes and 15 seconds was an annual savings of over 776 000, just by identifying the top three drivers that result in repeat calls. We identified the drivers we gave recommendations they were implemented and this was one single engagement. So let's go to the next one for me. So this was a an engagement this was a fun one it was with a collection partner we were focused on increasing same day payments made via phone.

So their customers are past due their agents call them. Hello Matt you're past due we'd like to click a payment over the phone to bring you current we were able to leverage speech analytics and we were able to identify the top five objections for customers declining to do that payment made over the phone. But not just the rebuttals, I'm sorry not just the objections we also came up with the three top rebuttals that won those customers over so we did a lot of refresher training for those agents hey these are your top five objections these are the top three rebuttals say this say that do this do that, that partner saw an immediate increase by 13% of the payments that were secured over the phone as well as the average payment amount being increased. So talk about a win-win not only are they getting more payments over the phone, but they're higher dollar amounts than previous to the analysis and that refresher training that's huge. In partnering with a medical company they were experiencing an unknown increase of two minutes of average handle time over the past six months their average channel can just get creeping up and up and up and up um. So we were able to work with them to identify that it was website inquiries that had increased by five percent overall. And as many of us know a website call is typically one of the longest calls that a contact center receives. The customer wants to go through everything they've clicked on everything they tried to self-service but not only that they really don't want to get off the phone until their issue is 100 resolved. So that customer expects the agent to stay on the phone with them as they click as they request a new password as they reset this or get a token for that. So with website calls being one of the longest it wasn't a shock that that was what drove their average penalty their over channel time by two minutes. So during this process though and this analysis we were able to identify that there were issues within their password reset tokens. The z's looked like twos o's looked like zeros um so there were a ton of different characters in those tokens that were very confusing and if you traded that token more than once you were locked out automatically again. So addressing this issue and really removing those similar tokens from their possibilities of tokens that could be provided, we actually saw a reduction of six percent in website calls so they were lower than before, and we also got a reduction of 46 seconds of average handle time. Again, that's just a quick win. And last but not least this is one of my favorites um we had an engagement with a global financial services company, and this company could get fined 25 000 for every bankruptcy call that was not coded correctly. So huge compliance huge litigation process and really big fines per one call. So we were able to work some things out within speech analytics to identify those and had a back end, where we would go back and track it if bankruptcy was uttered but it wasn't coded correctly. In the first year we identified 24 calls in which the coding was incorrect or missing with those carrying a potential 25 000 per fine it saved the company almost 600 000 in the first year by itself. Because we're coding them we're getting them as pre-active as we can that call takes place within minutes we're making sure it was coded correctly so huge huge possibilities. And there are so many more when Matt asked me to pick my favorite four I  was a little hurt like little saddened that I couldn't talk about all of them because the team has done so many amazing things. So eric I  know we've only shared four on the on the screen right now we have so many more than four, what's the best way for someone to talk with you or sync up with you about interest in our quick wins?

Eric: Very simple guys reach out to us it's going to be a pleasure to walk you through each case studies or or the ones that you want to see into all the details you want to hear about them so just very simple contact us it's going to be a pleasure.

Matthew: So eric why don't you uh walk us through just kind of a summary of what it's like to have a speech team as a service. 

Eric: Absolutely I'll start with this right my job as an account manager is to understand our customers business and how we can help them with creative solutions and ways to to to meet their business objectives. Speech is just one of the best ways right. And what we want to make sure is you guys shine we want to make you superstars right. We want to make sure that your speech team is seen as a good source of intelligence that you can advocate for the line of business you're working with and really make you shine right so so that's one of the objectives we we always have in mind. And the other one is you've made a sound investment right matt you said what 75 percent of the people actually have a speech right. Speech is a tool that can revalue all the time forever right so it's not that thing that you buy and you see an ROI  within three years and then you're kind of done, no we we're there to maximize the return on the investment all the time every month throughout the year every year forever. Right and then the other one is is and it's a big friend the market in the last couple of years right speech is not siloed speech can be used alone but very often it's incorporated into the entire strategy, into the data and advanced analytics strategy of your company, and we're there to help you make sense of it so lots of value to reap here again.

Matthew:  So Amanda we had a question come in, uh our team receives receives countless amount of requests on a day-to-day basis for analysis how do we prioritize you know should we do this versus that.

Amanda: Well first off whoever asked that question congratulations because you've arrived when your team is being bombarded with asks and questions that's how you know you're making an impact, so congratulations because you've made it. To prioritize those I  take a I  usually take a step back and I look at what's the overall picture if your company has one year five-year 10-year goals, how do those analyses support those um if average handle time is a huge initiative and three of your 20 asked analyses have to do with average handle time, those probably should move up to the front. Um and then I  also always like to see if I  can double down with an analysis because that's one of the coolest ways to cross two off for one. So if you have a request to look at returned calls so like customers are buying something and they're returning it they want to know when those credits are going to post to their accounts, but you also haven't asked for sales opportunities or even average handle time for verification processes. You can kind of cram all three of those into one by looking at those one type of calls. You're going to look for the verification at first the meat and potatoes of the call is going to answer your returns question and then at the very end when you have those sales opportunities those can be um that can be that third analysis. The other thing that you can do is see if your quality team if you have the ability to work in a question or two to where they can supplement some of those answers, um you can absolutely do that we've seen that be extremely successful and it's almost like a pat on the back for the quality team right they're being included in speech analytics which is typically seen within an organization as one of the elite teams one of the cool teams the innovative teams. So asking them for help on that team that's a really good way to build that relationship and keep those doors of communication open.

Matthew: Reah that's great great thank you for the question, um uh Eric one one more slide here and then we're going to take some more questions.

Eric: Absolutely I'll go through this quickly, this is the Group Elite way right. We like to be business partners in the long run so we like to build an approach that we can be persistently delivering value for you. So three angles to that right and the first one is how we we see operational expenses. The traditional way of doing business on the market is you come in you do a project it lasts six to eight months and then you you finish and then whoops you have another need you create another project, you deliver and you're done. Speech as a service allows you to kind of flatten the curve if you want to use a buzzword, where we deliver value right away, it's less costly up front it's more of a flat cost across the the board and throughout the months and the years you keep getting value. Now the second way we like to see it and make it make it easy for you. So as opposed to do a traditional project based approach where there's a lot of involvement on the it side a lot of involvement on the business side and then boom zero effort for a while, and then you keep going throughout the projects again, speech as a service an hour two hours every week right we work with you consistently deliver value but the burden internally is reduced a lot. And most importantly is the increased time to value. Right so traditional model we need to do a lot of things before you start to see value, speech as a service as well as, quick wins deliver value right away. You start you start seeing value and then you reach time to value very quickly. So again that's the way we like to work with you as business partners to deliver value quickly and make speech as a service a persistent value across your business.

Matthew: Gotcha. So uh Eric you must be a fantastic multitasker, because I  just got my email from you um all of you on today's session will also you should have your email from Eric as well it has the link to the ebook it goes through all of the reasons about who should be on the team what where why when to ask for help about our quick wins everything. There there's a lot of uh great detail here and if you have questions you know feel free to reply to Eric or we can set up a chat with Amanda, and and we can answer some additional questions. But before we go uh let's just take a few more so we've got a couple more questions here from and if you have one we've got a few more minutes left here feel free to uh ask in the chat or ask in the Q&A but we'd be happy to help you. The first question I  have here is have you ever helped an organization migrate traditional QM forms into AQM forms or I  guess I  I  guess that's forms or forms in both uh Amanda?

Amanda: Absolutely that's the new cutting edge and cutting edge industry approach is really automated quality monitoring, especially for compliance legal reasons we do that all the time and we're really good at it not to to our own horn but that's one of our strengths that we're really really good at we help our companies that we partner with start small, so that they can build that momentum get the buy-in from their agents from their leaders and then roll it out across all of their calls, absolutely.

Matthew: And uh what about various providers we had a question come in about are do you just do this with varant or nice or coal miner or you know all these different systems out there, does the team have a lot of experience in a variety of those?

Amanda: Absolutely most of us started on different platforms so we have a wealth of experience over our more than 10 years that we each possess. I  think i'm on like six or seven different platforms that I  know how to do speech analytics on. so we've we're constantly learning we're agile we're learning industry trends working with other companies all the time.

Matthew: Gotcha, another interesting question maybe Eric I'll give you this one,uh is real-time speech analytics real and uh is is it here to stay?

Eric: Very good question. It it is real uh we see an increased demand on the market so absolutely we can help with that.

Matthew: Okay great well that's all the questions that I  have for today um for everyone who stayed with us this hour thank you so much uh feel free to download there's a link to the ebook in the email from Eric. Thank you Eric for sending and then um if you have questions I also see in the email there's a link if you just to book 15 minutes and have a cup of coffee uh and and just have a chat so if you have additional questions let me know. This session was recorded so if you know somebody who would really benefit from this or maybe you want to show it to your boss or whatever um we'll also be sending the link out to the recording as soon as we get that back from the Webex system, so I  appreciate that. And Finally thank you Amanda and thank you Eric for your insights today and for helping us all build a stellar speech analytics program. So thank you very much, have a great day everyone. We'll see you on a webinar in the future.