DMG Consulting's fifth annual Interactive Voice Response (IVR) report
concentrates on IVR Analytics, an emerging breakout segment of the broader
customer experience analytics (CEA) market and an essential segment of the IVR
market. The 2012 IVR Analytics Product and Market Report gives
enterprises and business owners the information they need to choose the right
solution and vendor partner for their organization. The Report defines IVR
analytics and explains its value proposition, benefits and uses. It covers all
known IVR analytics vendors who offer an application that can integrate with
any IVR solution or platform. As the only comprehensive guide to the IVR
analytics market, this 124-page Report looks at products and services,
underlying technology, pricing, return on investment (ROI), go-to-market
strategies, trends and challenges, and planned innovations to help users
purchase and implement the IVR analytics solution that best meets their
existing and future needs.
IVR systems handle anywhere from 10% to over 90% of incoming calls in the
contact centers that use them. Although most consumers have learned to
tolerate and even properly use IVR systems, these solutions are almost
universally disliked. While IVRs have the potential to help companies reduce
agent time and cost, most are neither used effectively nor optimally designed
to deliver the best possible customer experience.
Sadly, little investment is being made to improve IVR effectiveness. If these
systems were planned better, consumers would be happy to use them. It costs
little to optimize an IVR, and the long-term customer satisfaction and bottom
line benefits far exceed the investment. In many scenarios, an improvement of
as little as 1% in the IVR containment rate may represent savings of more than
$100,000 per year. In the 2012 IVR Analytics Product and Market Report,
DMG asserts that there is no longer an excuse for having a poor IVR
application.
IVR analytics systemically evaluates the "whole call" in order to improve the
overall customer experience across all channels, automated and live, and to
increase containment rates. This includes capturing, tracking and analyzing a
call, in granular detail, from initial contact, which is often with the IVR,
through resolution. The data captured is used to identify call reasons and
outcomes, evaluate the caller experience, identify new automation
opportunities, and pinpoint activities that impede an organization's ability
to deliver an outstanding experience. These solutions deliver a rapid ROI and
contribute to the success and profitability of companies of all sizes by
helping to reduce servicing costs, increase and enhance self-service options,
reduce wait time for service, improve first contact resolution (FCR), and
enhance customer and agent satisfaction.
The world of IVR has changed dramatically in the last five years, as have
business requirements and how end users interact with IVRs. DMG recommends
that all organizations establish a process for identifying IVR enhancement
opportunities on an ongoing basis, but even doing so just once a year can
yield results that dramatically improve customer satisfaction and reduce
operating costs. For organizations that have not optimized their IVR
application in the last three years, DMG recommends immediately undertaking an
IVR assessment to identify ways to improve their existing environment. The
time is ideal for users to leverage technology advancements and new best
practices to get the most from their systems.
The 2012 IVR Analytics Product and Market Report covers all aspects of
this emerging market. It features a detailed analysis of the three IVR
analytics competitors who can integrate with any third-party or home-grown IVR
application, plus an appendix with a detailed list of competitors. The leading
vendors covered in the 2012 IVR Analytics Product and Market Report are
BBN Technologies, ClickFox and Nuance. These vendors' IVR analytics solutions
are unique. Each takes a different approach to analyzing customer activity,
and all are highly beneficial in their own right.
Key Reasons to Buy This Report
Definition of IVR analytics and a review of the quantifiable benefits
these solutions deliver to enterprises
Examination of the IVR analytics market trends and challenges that affect
both vendors and enterprises
Overview of the uses and ROI and benefits enterprises should expect to
realize from a successful IVR analytics implementation and IVR optimization
Discussion of the real-time capabilities of IVR analytics and how these
solutions produce actionable insights that deliver quantifiable benefits
Market share and market adoption analysis and projections
Insights into new and emerging functionality and innovation that has
recently been introduced into the market or is planned for the next 12 to 18
months
Analysis of the implementation process, training and support, and best
practices required for a successful IVR analytics and optimization initiative
Detailed pricing analysis for the hosted, managed service and
premise-based IVR analytics offerings, by vendor
High-level corporate, strategy, service delivery model and technical and
functional product overview of the three leading vendors and solutions
Detailed side-by-side functional analysis of the three featured IVR
analytics solutions
Detailed company reports and product assessments for the three leading IVR
analytics vendors
IVR Analytics Vendor Directory
Report Highlights
IVR analytics - what and why: IVR analytics systemically captures,
tracks and analyzes customer calls from cradle-to-grave in order to provide
insight into how companies can increase containment rates and deliver a better
customer experience. ROI from these solutions is fast, and by using them,
companies can expect to reduce costs, increase self-service options, reduce
wait times, improve FCR, and enhance customer and agent satisfaction.
Companies should seize opportunities to save time and money: IVR
systems handle 10% - 90% of incoming calls in the contact centers that use
them, yet little is invested in optimizing these systems to improve their
effectiveness and save companies more money. IVR analytics is a highly
effective end-to-end call analytics solution that should be part of every
organization's customer experience strategy.
Regular IVR check-ins can be highly beneficial: DMG recommends
looking for IVR enhancement opportunities on an ongoing basis. If it has been
more than three years since their last optimization, companies need to
undertake an IVR assessment right away to identify how they can improve their
existing environment by leveraging technology advancements and new best
practices.
The upside for IVR analytics is enormous, and growth will continue:
IVR analytics adoption rates are low today, leaving a lot of room for vendors
to succeed in this area, if they are willing to invest in their products and
in properly marketing them. DMG expects the IVR analytics market to continue
to grow slowly - by 18%, 20%, 20% and 20% during each of the next four years,
respectively.
Table of Contents
Table of Contents
1. Executive Summary
2. Introduction
3. DMG Consulting Research Methodology
3.1 Report Participation Criteria
4. Contact Center Analytics
4.1 Internal and External-Oriented Applications
4.2 The Emergence of Voice of the Customer Solutions
5. What is IVR Analytics?
5.1 Understanding Caller Behavior and Intent
5.2 Improving the Customer Experience
5.3 Improving Containment Rates
6. IVR Analytics Trends and Challenges
6.1 IVR Analytics Trends
6.2 IVR Analytics Challenges
7. Uses, Benefits and ROI
7.1 Uses
7.2 Benefits
7.3 ROI
8. Making Results Actionable
9. Real-Time Capabilities
10. Market Activity Analysis
11. Market Projections
12. Market Adoption
13. Market Innovation
13.1 New Product Features
13.2 Future Enhancements
14. Implementation Analysis
14.1 Implementation Process
14.2 Training and Documentation
14.3 Service and Maintenance
15. IVR Optimization Best Practices
16. Pricing 74
16.1 Premise-Based Pricing
16.2 Hosted/Cloud-Based Pricing
16.3 Managed Service Pricing
17. IVR Analytics Vendors and Solutions
17.1 High-Level Company and Financial Overview
17.2 Vendor Strategy
17.3 Vendor Offerings and Products
17.4 Packaged Offerings
17.5 Service Delivery Models
18. High-Level Capabilities
19. High-Level Technical Summary
20. Detailed Functional Analysis
20.1 Product Analysis
20.2 Integration
20.3 Reporting
20.4 Administration
20.5 Security
21. Company Reports
21.1 ClickFox
21.2 Nuance
21.3 Raytheon BBN Technologies
Appendix: IVR Vendor Directory
Table of Figures
Figure 1: Contact Center Analytics
Figure 2: Customer Experience Analytics
Figure 3: High-Value Analytics Applications for Improving the Customer
Experience
Figure 4: The New Voice of the Customer Paradigm
Figure 5: Understanding Caller Behavior and Intent
Figure 6: Top Ten Ways IVR Analytics Improves the Customer Experience
Figure 7: Improving Containment Rates
Figure 8: 2012 IVR Analytics Trends
Figure 9: 2012 IVR Analytics Challenges
Figure 10: IVR Analytics Uses
Figure 11: Benefits of IVR Analytics
Figure 12: ROI Analysis
Figure 13: Making Results Actionable
Figure 14: Real-Time Capabilities
Figure 15: IVR Analytics Market Activity, as of April 31,2012
Figure 23: Implementation and Support (Managed Service)
Figure 24: Training and Documentation
Figure 25: Implementation and Support (Premise)
Figure 26: Implementation and Support (Cloud)
Figure 27: Implementation and Support (Managed Service)
Figure 28: IVR Optimization and Best Practices
Figure 29: Premise-Based Pricing, 250K to 500K Transactions per Day
Figure 30: Hosted/Cloud-Based Pricing, 250K to 500K Transactions per Day
Figure 31: Managed Service Pricing: 250K to 500K Transactions per Day
Figure 32: Company Information
Figure 33: Company Strategy
Figure 34: Products and Modules
Figure 35: Packaged Solutions
Figure 36: Service Delivery Table
Figure 37: High-Level Capabilities
Figure 38: High-Level Technical Summary
Figure 39: Product Analysis
Figure 40: Integration
Figure 41: Reporting
Figure 42: Administration
Figure 43: Security
2012 - 2013 IVR Analytics Product and Market Report published by DMG Consulting LLC in September 20, 2012. This report price starts from US $ 4250.
Press Release
New IVR Analytics Product and Market Report Explores Pricing, ROI, Planned Innovations and More
September 27th, 2012
Global Information Inc. would like to present a new market research report, "2012 - 2013 IVR Analytics Product and Market Report" by DMG Consulting LLC.
DMGs fifth annual IVR Report concentrates on IVR analytics, as it is a breakout segment of the broader customer experience analytics (CEA) market and an essential application for all organizations that use IVRs.
This detailed report is the only comprehensive guide to the IVR analytics market. It explores products and services, underlying technology, pricing, return on investment (ROI), go-to-market strategies, trends and challenges, and planned innovations to help enterprises and business owners make the right technology acquisition decisions.
IVR systems handle between 10% and more than 90% of incoming calls in the contact centers that use them. While IVRs help reduce agent time and costs, most of them are neither utilized effectively nor optimally designed to deliver the best possible customer experience. IVR analytics is a first step in the optimization process. By systemically evaluating the "whole call," companies can improve the overall customer experience across all channels, automated and live, and increase containment rates.
"The IVR market has changed and advanced tremendously in recent years, due to improvements in technology and best practices," said Donna Fluss, President of DMG Consulting. "Any organization that has not enhanced or optimized their IVR in the past three years should invest in an IVR optimization initiative. This is one of the simplest and most effective ways to reduce costs and improve the customer experience."
The "2012 IVR Analytics Product and Market Report" covers all aspects of this emerging market. It features a detailed analysis of the three leading IVR analytics vendors who can integrate with any third-party or home-grown IVR application - BBN Technologies, ClickFox and Nuance. It also includes an appendix with a detailed list of competitors.
