3 Tips to Capitalize on Real-Time Call Analytics for Your Speech Program

While speech solutions have certainly been successfully used for recording 100% of phone conversations to help you safeguard against compliance risks, adherence to compliant script in real-time has become a genuine concern for many agencies lately. This explains why collection agencies might not just analyze voice recordings under their post-call speech analytics goals, but also dig deep into live calls with real-time speech analytics to gather actionable insights on items like talk-offs, compliance, consumer preferences, and silent time.

Nowadays, speech analytics solutions such as ICAP can sift through unstructured real-time call data to identify the probable causes of failure and success, helping you perform a complete analysis of consumer discontent and root-cause analysis. Based on the caller’s tone or modulation, real-time speech analytics can help busy managers and QA teams identify training requirements at an agent level, providing immediate feedback to agents right after a flawed call. By listening to live agent calls randomly, you can help design effective training tools to help agents comply with regulations, deal with difficult conversations, and develop the knowledge and skills they need. Here are three tips that should help you achieve everything we mentioned with the help of the real-time call analytics feature of your speech program.

1. Enrich the pool of real-time prompts to guide agents on calls

Continue enriching your real-time prompts to commonly flag compliance breaches and highlight words, phrases, and other verbal cues that could indicate an agent is faltering. This will help agents correct their mistakes most of the time before they move to the next call. Repeat the test-improve-test-improve the enrichment process as many times as possible.
 
2. Use the combination of real-time analytics and post-call speech analytics

Visualize real-time and post-call speech analytics as integral components of a wholesome speech program. Both types of speech analytics can be used to analyze 100% of calls, rather than having a supervisor listen to a random call sample that may not be representative of agent performance and training gaps. While real-time speech analytics will enable you to alter the outcome of a call by intervening, post-call speech analytics will help design effective training programs.

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3. Continue sampling real-time calls more often

Continuously measure all aspects of proper call handling and consumer experience in real-time without having to rely on a tiny post-call sample. This will help you get ahead of issues before they impact performance and profitability and help you report with confidence to demanding clients and compliance teams. Also, find key training opportunities on compliance disclosures. This will help you ensure that those mistakes “one-off” issues or systemic are addressed by training.
 
Are you confident in your speech analytics know-how?

Collection agencies have been using call center speech analytics to help reduce delinquencies, mitigate losses, and maximize their accounts receivable recovery. However, due to the lack of best practices in the landscape, only a handful of agencies’ speech programs can quickly evolve as per customer preferences and lead to better collection yield. We have captured all these practices in an eBook that will help you uncover all "Four Pillars of a Competitive, Foolproof Speech Program." Other than real-time call analysis must-do’s, the eBook has listed out best practices around agent scorecards, QA intelligence, and top-notch sentiment analysis. You can download your copy here.