IVR Solution by Reventors Techno Lab / What is IVR?

 

Source: Business News Daily article “What is IVR? A buying guide for business owners”

              Reventors Techno Lab

 

If you're looking to optimize your employees' time, investing in an interactive voice response system can help.

• Interactive voice response (IVR) systems automate telephone calls to your business.
• Whether you’re looking for touch-tone commands or artificial intelligence, there are different styles of IVR to fit different needs.
• When searching for an IVR solution, consider the price, your business’s needs, and the pros and cons of using such a system.
• This article is for small business owners considering implementing an IVR system.

If you’re a small business owner, odds are you’re always looking to optimize your employees’ time and your company’s money without sacrificing customer service. Interactive voice response (IVR) systems offer an affordable way to streamline the call process for your customers and staff while cutting costs. This guide walks you through everything to know about IVR systems, from the basics of this communication technology to the features you should consider for the top vendors so you can make an informed buying decision for your business.

Reventors Techno Lab is a cloud telephony service provider-based company. They have many services to offer related to telephony, and IVR service is one of them. Reventors is providing service at an affordable price which helps client’s company in brand awareness, reaching more & more customer and simultaneously fetching business from them.

 

What is an interactive voice response (IVR) system?

In business terms, IVR refers to a large umbrella of software-based communication solutions, also known as computer-telephone integration (CTI). Some IVR companies offer basic services that allow small businesses to record automated voicemail messages and route calls, while others facilitate website, database, and CRM integrations, as well as robust reporting and payment-processing options. These systems eliminate the need for humans to do the manual work of answering and directing calls.

In the past, IVR was limited to telephone calls with a button-response system. During an IVR call, an automated voice recording would interact with a client, and in return, the client would press corresponding buttons to navigate the system. Today, many IVR systems have speech recognition built-in and callers can talk directly to the system rather than push buttons.

 

Why do businesses use IVR?

The IVR system best suited for your company depends primarily on your call volume and the way you want to use IVR in your business. Here are a few common uses for IVR that may help you decide which kind of platform to implement.

Customer service

Rapidly expanding businesses often find themselves without adequate customer service or support staff. Since IVR systems can be deployed quickly and scale easily, they can reduce wait times for customers. For general customer service needs, an inbound IVR system is usually sufficient, but if you foresee requiring outbound IVR in the future, choose an IVR company that offers comprehensive services.

Payment processing and collections

Automating payment transactions is a common use for IVR systems. In addition to outbound collections calls, IVR services make it possible for customers to call companies to obtain their billing information or account balances and then make payments themselves.

Marketing and communication

Outbound IVR can be used for marketing purposes, such as alerting potential customers about a new sale or product, as well as communicating with existing clients. For example, a dentistry office might use an outbound IVR system to make automated calls reminding patients of upcoming appointments, while a call center might use IVR to make sales pitches to potential clients. If marketing small business is the driving force behind your company adopting an IVR system, look for vendors that specialize in call-center IVR and predictive dialing.

 

What are IVR features to consider?

When selecting an IVR system, look carefully at the kinds of features being offered. The IVR solution you choose must fit your company’s specific needs. Expect to find some of the following features on the market today.

Cloud or on-site setup

With hosted IVR systems, the platform resides in the cloud, and the responsibility for maintaining and managing telecommunications and servers falls on the vendor. Onsite IVR systems, on the other hand, integrate with a business’s existing telephone system, and the maintenance of those platforms falls on the company using the system. Today, most providers offer cloud-hosted IVR.

Inbound and/or outbound services

The two basic types of IVR services are inbound and outbound. Inbound IVR systems handle incoming call volume, while outbound IVR systems make calls on either a total or partially automated dialing basis. Many vendors offer both inbound and outbound IVR services, but inbound-only systems tend to be less expensive.

Speech recognition

IVR systems with built-in speech recognition allow users to speak aloud in response to questions rather than only using their phone’s keypad. If all your business needs is an elementary IVR system to route calls in your office and give out basic information like your location and hours of operation, a simple touch-tone platform will serve your needs. Speech recognition tools are often pricier than touch-tone systems, but they’re worth the cost if your IVR needs are more complex.

Self-service

When an IVR vendor offers self-service IVR, it usually means the product is intended for basic use for inbound calling. Many providers sell comprehensive IVR services and also have separate, lower-priced self-service IVR options. If your business only requires simple call routing or bill paying, and you don’t need outbound calling, self-service is probably the way to go. Note that many self-service options do not have speech recognition.

Text-to-speech

It’s always worth asking vendors if their IVR packages include any text-to-speech services. Text-to-speech is exactly what it sounds like To set up your IVR system prompts using text-to-speech, you type in the prompt (like “Please press 4”) and select from a menu of voices to say that prompt. This type of service gives your IVR system a professional and consistent sound and negates the need to hire a voice actor or to do the recordings in-house.

Integrations

Many IVR providers facilitate full integration with existing databases, websites, and CRM systems. As you might expect, vendors that offer integration are often higher priced than those that don’t, but they bring a lot to the table.

With an IVR system that’s not integrated, a caller that’s routed through to a live person will have to relay to that customer service rep who they are, their customer ID, and other pertinent information. That representative will then have to look up the customer’s history in the company’s CRM or client database. With an integrated system, a customer calling could say (or type) their name or password, and the IVR system would instantly access their information, giving the rep the details immediately.

Dashboard and analytics

Before you sign up for an IVR service, ask the vendors you’re considering for a demo of the platform’s dashboard and inquire about options for viewing analytics and pulling reports. Viewing the dashboard ahead of time should give you some idea of how easy it will be to operate the system and change it as needed. Additionally, consider any data reports that might be useful for your company and inquire about those types of reports before making a final decision.

 

What are the advantages of using IVR systems?

If you’re a small business owner, juggling daily operations while managing the phones can be a struggle. When you implement an IVR system, you not only add a sense of professionalism to your operations, but you also welcome the following advantages into your company as well.

Faster answers

When people reach out to a small business with questions, they want answers as fast as possible. Once a caller goes through the IVR prompts, the service can quickly transfer the customer to the individual in the company who can answer their questions – if the system can’t handle the request itself.

More effective customer service

As a piece of technology, an IVR system helps customer service representatives address the questions they’re best equipped to answer in a timely manner. By connecting the right agents with customers’ requests and queries as needed, IVR can improve effectiveness and increase customer confidence in your business.

Cost cutting

Rather than hire a customer service team member whose sole job is to transfer requests to the right people, you can implement an IVR solution that automatically handles that task. As a result, that’s less you have to pay in employee salary and employee benefits.

Increased customer satisfaction

Many companies rely on IVR systems to serve as high-tech receptionists, letting the system greet callers before transferring them to the right employee. Since IVR systems are usually easy to navigate, customers can get where they need to go without much trouble. That will leave them more satisfied with their experience.

Improved performance

IVR connects your customer service agents solely with calls they know how to handle, so your team will likely feel more confident during customer interactions. This can lead to higher morale among your representatives, which, in turn, can boost agent performance.

24/7 availability

If you have an IVR system, customers who contact your company when your staff isn’t on call will still be able to interact with your business. No matter who is or isn’t working, your IVR platform can help customers start getting the answers they need. In some cases, your IVR solution can execute simple customer requests without any employees around.

Error reduction

When customers deluge you with calls, it becomes easy for agents to improperly route them or make other mistakes. Since IVR systems are automated, they lessen the risk of these errors. For example, if your IVR tells a customer seeking a refund to press six for returns, your caller will know exactly what to do. Gone are the days of agents trying to rapidly reroute upset customers – IVR solutions handle this without any mistakes.