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How to Leverage Existing Voice Technologies to Maximize ROI

How to Leverage Existing Voice Technologies to Maximize ROI

The pandemic has transformed the way businesses operate. Technologies have been adopted at lightning speed due to increased reliance upon remote workforces. There are many voice technologies that are now must-haves, such as Automatic Speech Recognition. But are businesses and organizations using these technologies to their fullest potential?

You need to start with a basic audit—what voice technologies do you already have? How are you using them? We’ll assume you are using Automatic Speech Recognition, as it is most common, and specify how you can leverage it to maximize ROI.

  1. Are you using Automatic Speech Recognition? What are you doing with your speech data? Transcription enables visibility of this precious information. When transcription is used in conjunction with artificial intelligence, or Natural Language Processing, feeding machine-learning processes downstream, it enables customers to speak their mind, literally. This means the IVR or even chatbots can interact with customers in a more personal, efficient way, solving problems that would have required costly time with a live agent.
  2. If you are using Automatic Speech Recognition in your IVR, how have you tackled authentication? Have you considered voice biometrics? Voice biometrics creates a secure, convenient authentication process that can either happen within the IVR or with live agents. It cuts costs by reducing handle time. It raises satisfaction levels for agents and customers by removing the need for painful, lengthy interrogation processes. There are two modes of voice biometrics: Passive & Active. Passive means customers are verified through natural conversation. Active means they are prompted to speak a specific passphrase to authenticate. Either method results in higher satisfaction and compelling ROI.

The LumenVox Technology Stack is unique in its convenient licensing and add-on capabilities. With just one installation of one of our components, such as our Automatic Speech Recognizer, you can easily add licensing to incorporate any of our other technologies. With forward-thinking and access to such a flexible stack, companies can remain competitive. Step up your game and keep your customer service at the cutting-edge.

Questions about any of the LumenVox voice technologies? Contact us.

3 Ways to Improve the Agent Experience with Voice Technology

3 Ways to Improve the Agent Experience with Voice Technology

Customer experience is often highest on the priority list for businesses. But in a post-pandemic world, organizations are looking for ways to improve the agent experience as well. By raising the importance of agent concerns to the same priority level as customer concerns, organizations can dramatically improve employee satisfaction levels, optimize the efficiency of individuals, and demonstrate best care practices. These steps can also improve agent recruitment and retention. The benefits also translate into a positive customer experience. Happy agents equal happy customers.

Here are three ways to enhance and improve the agent experience with voice technology.

Challenge 1: Authentication. A renowned technology research firm, Opus Research, has “long seen zero-effort authentication as a necessity for creating trusted links between brands and their customers.”

Solution: Voice biometrics provides a convenient and secure form of authentication for customers and an effortless task for agents. There are two types of voice biometrics, Active and Passive.

Active Voice Biometrics means that the customer enrolls by repeating a set phrase. On subsequent calls, the customer speaks their passphrase, which is compared to their stored enrollment voiceprint​.

Passive Voice Biometrics means the customer is seamlessly enrolled by capturing historical or real-time audio​. Enrollment is completed by recording the customer’s unique voiceprint during an initial conversation, not a specific phrase​. On subsequent calls, customer’s conversational voice is compared to their stored voiceprint. A customer speaks with an agent and is transparently verified within the agent desktop.

It’s secure and effortless, turning a common pain point for agents into a seamless experience.

Challenge 2: Fraud. Right now, attackers are shifting from spoofing to using virtual call services since they are anonymous and untraceable. These fraudulent calls are legitimate calls that can be placed from many devices from anywhere in the world​. This allows fraudsters to bypass spoofing detection technology with numbers unrelated to a record​. Fraudsters then use social engineering on agents to grant them control over a customer’s record​.

Solution: With Passive Voice Biometrics, agents themselves can help identify fraudulent activity in real-time. If a customer’s voiceprint does not match the one on file, the agent will be alerted of the voiceprint mismatch. The agent can then pass the warning signs to the fraud department to initiate investigation—while the call is still in progress. By giving these agents greater peace of mind, and the fraud department greater resources, everyone is protected and more productive.

Challenge 3: Containment. With greater reliance upon the contact center to solve customer issues, the workload of agents rises daily. Without intelligent proactive outbound communication and robust Automatic Speech Recognition and Text-to-Speech technology, customers route to agents for menial tasks to mine information that could be accessible ahead of the need/ask.

Solution: LumenVox’ Automatic Speech Recognition and Text-to-Speech enable automated yet dynamic and personalized interactions with customers within the IVR. This improves containment and reduces Agent Handle Time, as customers gain immediate access to relevant information, often removing the need for a live agent. With the use of Call Progress Analysis, agents’ time can be spent solely on live interactions with customers. Call Progress Analysis is a novel predictive dialer technology which uses Voice Activity Detection (VAD) to quickly and accurately classify whether calls were answered by a human or a machine. With this technology as well as statistical analysis, adjustments and feedback, agents can achieve optimal performance.

Voice technology can be leveraged in a variety of ways to shave valuable minutes from each agent’s workload. This translates into benefits for the business, for the agents themselves and for customers.

Find out more about LumenVox’ complete Voice Technology Stack here.

What’s Trending: Voice Biometrics, Voice Pay & Fraud

What’s Trending: Voice Biometrics, Voice Pay & Fraud

LumenVox was recently featured in a thought leadership piece by Startup Geeks entitled, “Voice Payment Technologies: The Opportunities, Challenges and Future Trends.” It’s an interesting take by several thought leaders on the increasing popularity in voice pay.

More and more voice biometrics is coming to the forefront, not only because of its convenience but also because of its use as a robust security layer. In payment technologies, it is used instead of weak passwords or PINs, authentication methods which in this day and age have an increasingly high chance of being breached.

In general, the world is using voice to conduct searches or complete tasks. Just as consumers use speech recognition to conduct hands-free searches, voice biometrics enables a purchase from that same mobile device without any effort. Instead of tapping away on a frustrating keyboard, trying to input passwords people can’t remember, they use the sound of their own voice. That means more convenience, but with greater piece of mind, as voice biometrics is a robust security layer which is proven to reduce fraud.

Voice biometrics is a form of authentication which uses the unique behavioral and physical characteristics of a person’s voice to validate their identity. With LumenVox Voice Biometrics, we decouple any personal information from the voiceprint, so it’s not connected to anything sensitive or revealing for the consumer. It’s just a string of 1-s and 0s, which means it’s more secure because it’s anonymous on the backend.

The level of security used with voice biometrics can be tightened or loosened depending on the business use case. When it’s linked to a payment source, of course tightened is preferred. We leverage the brilliant minds behind our engineering team to work with businesses to find and implement that healthy balance (create a threshold), so consumers are getting the best of both worlds—security and convenience.

With the increase in fraud, social engineering, and large-scale attacks, it’s essential to be thinking proactively and crafting a strategy. If you’d like to learn more about how voice biometrics are being deployed across contact centers to combat fraud and seamlessly enhance the user experience, you’re invited to view the recently recorded webinar “It’s Good to Hear Your Voice Biometrics.”

Click here to learn more about LumenVox’ state-of-the-art Voice Biometrics.

Questions? Contact us today!

LumenVox’ Take on the Total Experience Featured in Speech Technology Magazine

LumenVox’ Take on the Total Experience Featured in Speech Technology Magazine

Since 2009, Speech Technology Magazine has been the premier online destination for comprehensive, independent coverage of information impacting speech technologies. This year LumenVox is proud to have a white paper featured, addressing exactly how businesses can leverage speech technology to take on the Total Experience.

What’s Total Experience? Total Experience (TX) refers to the entire company experience – employee, customer, and user. It takes a 360-degree look at a business to identify gaps and fill them, and it ties the critical pieces together—people and technology.

Now that it’s 2021, reality has set in: The business environment is evolving and doing so rapidly. That means it’s critical organizations stay one step ahead of their customers and their competitors. A business’ technology must evolve in tandem—and that technology needs to address not just the Customer Experience (CX), but the Total Experience.

The truth is, though, that organizations are overwhelmed. Where do they start? How do they know which technology is really going to make an impact?

Speech technology is the ideal starting point because it can empower organizations to shift from enhancing CX to addressing and enriching the Total Experience. In this white paper, we outline exactly how speech technology can address major pain points including friction in the IVR, for employees and customers.

Read the full White Paper here.

Questions? Learn about the full suite of LumenVox technology here, or contact us!

LumenVox’ Forward Thinking: Top Tech Trends in 2021

LumenVox’ Forward Thinking: Top Tech Trends in 2021

2020 has fundamentally transformed the way we live and work. Organizations, and the technology they use, are adapting at a record pace. The key to successful evolution is organizational agility. Here are four trends that will propel tech into 2021:

Shift to Total Experience (TX). You may have heard the term “multiexperience,” which refers to the shift from a singular screen and keyboard to a multimodal digital world, where technology surrounds you, going from your laptop to your phone to your tablet to your desktop and back again. TX takes that to another level; it keeps in mind each and every player in the experience game—employees, customers, users. Historically, these players have had immersive digital experiences, but they were separate. Imagine how much easier things would be if they were the same? That’s TX. At LumenVox, we are building our speech and authentication technology stack with multichannel and multimodal capabilities to address this demand in the remote workforce and contact center.

In a remote world, TX strategy will create a strong competitive advantage, as organizations with TX will outperform over the next three years.

Invest in Artificial Intelligence. Artificial intelligence is first and foremost a discipline, with any success stemming from an intense daily grind. However, that effort doesn’t always pay off. According to Gartner research, only 53% of projects make it to production, making it essential that companies put the extra time and engineering effort into AI projects. That’s why at LumenVox, Artificial Intelligence has always been a central component of our technology. Our speech recognition and voice biometric algorithms are built upon AI and Machine Learning principles so that our technology continuously evolves. LumenVox also has invested heavily in Research & Development, so we can deliver Artificial Intelligence technology which is robust, scalable, and easily deployed.

Cloud Enablement. At LumenVox, we have been ensuring our technology responds to the demands of multi-cloud environments so that organizations do not have to rely solely upon in-house IT infrastructure. Instead, they can provide their customers with LumenVox software via the cloud. In a post-COVID world, this is critical, as the world now runs remotely.

Prioritize Privacy. Privacy has always been a priority, but now that priority is marked urgent. Data protection legislation is maturing. In 2020 California finally implemented the California Consumer Privacy Act, signed into law in 2018. The CCPA is one of several state-mandated regulatory policies the US has implemented.  Similar regulations appear in other countries whose model has been Europe’s GDPR rules protecting consumer privacy. This requires organizations to put more stringent controls in place to guard against threats and to protect users’ privacy. LumenVox provides advanced voice biometrics to add robust layers of security for organizations of all shapes and sizes, safeguarding sensitive business and consumer information.

In summary, it’s important for any business to always look ahead. The more a business looks toward the future in tech, the more it cannot just adapt and survive, but also thrive. LumenVox’ chief aim for 2021 is to assist businesses in their advancement by directly addressing these trends in voice technology.

Learn more about our full suite of technology here.

fms/Austrosoft, LumenVox Team to Deliver High-Performing Tech for Transport

fms/Austrosoft, LumenVox Team to Deliver High-Performing Tech for Transport

LumenVox, a leading global provider of speech and authentication technologies, has officially partnered with the Austrian company fms/Austrosoft. fms/Austrosoft is the technology leader in elaborate dispatch system for taxi and car rental in Europe and has integrated LumenVox’ voice technology into fms Callbot for networked and digital telephone ordering.

fms/Austrosoft has been working for more than 35 years to continuously improve the dispatching service by optimizing the ordering experience for customers. In doing so, the company, just like the mobility industry, is constantly facing new challenges that are mastered with its own know-how and a technology partner like LumenVox.

The hardware and software solutions from fms/Austrosoft are aimed at all participants in the dispatching process. This includes the initial booking by the ride customer, the dispatching by the taxi center and the final order processing by the driver. To take the initial booking interaction via taxi call centers to the next level, the IT experts at fms/Austrosoft developed the fms Callbot with integrated voice solutions from LumenVox.

This is the digital agent for the 21st century, enabling networked and digital telephone ordering to provide the passenger with a completely new ordering experience. Whether it is an instant order or a pre-order, the fms Callbot seamlessly transitions the passenger from the analogue to the digital world.

As an official reseller of LumenVox, fms/Austrosoft offers its customers direct access to LumenVox’s entire voice and authentication portfolio with the fms Callbot. This includes:

  • Automatic Speech Recognition, transforming touchtone mazes into natural, intuitive call flows
  • State-of-the-art active and passive Voice Biometrics, easily integrated to make authenticating over remote channels more convenient and safer than ever before
  • Fraud Detection, arming fraud analysts with advanced voice biometric algorithms to protect and defend organizations from dangerous attacks
  • Call Progress Analysis for proactive outbound calling, delivering dramatically improved recognition between an answering machine and a live human

To learn more about fms/Austrosoft and how it’s changing the transportation game, click here. To learn more about LumenVox and its best-in-class technology, click here.

Questions? Contact us!