Have you ever examined the true cost of onboarding a new employee? Consider the cost of lost productivity while management oversees a new agent as well as the cost of employing an agent who is not yet up to speed. To sum it up, training a new agent is expensive. According to the Association for Talent Development, an average of more than $1200 is spent on onboarding a single employee. In chronically low-retention fields such as the call center industry, where turnover sits around 33%, onboarding costs add up quickly.
In recent years, there has been a shift towards using artificial intelligence and speech analytics software to reduce high onboarding costs and train agents more efficiently. The technology uses artificial intelligence to automatically monitor and score every phone call to provide real-time, consistent feedback to agents. This reduces the lag between the call and feedback and decreases the time a manager spends to get a new agent up and running.
1. Get the full picture by scoring every single call with artificial intelligence and speech analytics software.
Many call centers hold thousands of phone conversations every day. How does a manager determine where each agent needs additional training? With artificial intelligence and speech analytics software, a call center can automatically score all customer communications to pinpoint every agent's strengths and weaknesses. This allows the manager to focus time on where each agent needs the most coaching.
2. Use artificial intelligence and speech analytics software to remove scoring bias.
When it comes to scores, bias is never desired. When calls are scored manually, complex workplace dynamics and pre-existing relationships may play into score results – whether intentionally or unintentionally. By using artificial intelligence and speech analytics software, a call center can eliminate scorer bias and assess all calls from an objective point of view. Plus, when artificial intelligence is used to score calls, results are more accurate than if done so manually, especially with calls lasting longer than five minutes. Ultimately, the onboarding process benefits when agents receive honest and fair performance scores.
3. Benefit from consistent, timely feedback right from the start with artificial intelligence and speech analytics software.
Habits form easily. In the call center, as time passes, behaviors become routine, and it grows harder to encourage agents to change. For this reason, it is crucial to promote positive and effective work practices from the start. With artificial intelligence and speech analytics software, an employer eliminates the lag between the call and the feedback to get agents performing well faster.
For these three reasons, consider employing artificial intelligence and speech analytics software to ease the onboarding process for both agents and employers. Cut back on training costs in the call center by gaining the comprehensive insights necessary to develop well-schooled, top-notch agents. It is crucial to invest in the training process for new hires and to provide comprehensive feedback in order to aid in new agents becoming top performers—and the use of artificial intelligence and speech analytics software is a practical and efficient way to go about completing this not-so-simple task.
Artificial intelligence has a growing role in the debt collection industry. It may be used to recognize behaviors prohibited by the Fair Debt Collection Practices Act (FDCPA), the standard for debt collection practices as established by the Federal Trade Commission (FTC). Although following regulations may be tedious, it is crucial to ensure that debt collection agents are operating legally on a daily basis. So as to keep both themselves and their agents safe from risk, employers may use artificial intelligence and speech analytics software to assess debt collectors' phone communications and assure that agents are not engaging in the following four prohibited types of behavior.
1. No harassment
Debt collectors are not permitted to embarrass the individuals they call. They also may not act obsessively, and may not engage in behaviors such as repeated calling.
2. No unsubstantiated threats, and no threatening arrest
Debt collectors may not falsely threaten the people they call with statements regarding lawsuits or asset seizure, unless the threats are substantiated. Also, agents may not threaten arrest.
3. No false claims
Debt collectors may not lie to those they call. For instance, they may not take on a fake identity or lie about the amount of money an individual owes.
4. No unfair practices
Debt collectors may not engage in any unjust practices when making calls. They may not charge illegal fees or send information regarding debts owed via postcard.
Speech analytics software alone isn't enough to protect a collections agency from risk. For better protection, debt collectors may use artificial intelligence in addition to speech analytics software. Artificial intelligence is trained to recognize behaviors and understand the true essence of a call, while speech analytics software alone attempts only to account for spoken words and relies on the correct classification of recorded words. Eliminate the struggle of attempting to monitor calls for FDCPA compliance and employ artificial intelligence and speech analytics software that easily check every call for prohibited behaviors. In addition to ensuring that agents are adhering to regulation, use artificial intelligence and speech analytics software to rest assured that employees treat all individuals with the dignity and respect they deserve.
For more information, visit https://www.consumer.ftc.gov/articles/0149-debt-collection
Operating a collections agency is a complex task involving lots of moving parts. In recent years, artificial intelligence has entered the field as a solution to some common industry challenges. In particular, artificial intelligence and speech analytics software may help streamline and strengthen an organization's operations and may be leveraged to aid a company in nine big ways.
1. A/B test to find which phrases best drive successful debt collections.
Have you ever wondered which of two phrases is more effective? A/B testing is a smart and effective solution for collecting data regarding the performance of different phrasing options. At a collections agency, A/B testing with artificial intelligence and speech analytics software is beneficial because it allows an agent to track two categories of conversations where all script lines except one remain the same. The results of A/B testing provide agents with insight into how best to address calls and complete the most successful debt collections.
2. Adhere to FDCPA regulations.
It is imperative to follow regulations in order to operate legally and protect a collections agency from preventable risk. So as to keep both themselves and their agents safe from risk, employers may use artificial intelligence and speech analytics software to assess agents' phone communications and assure that they are not engaging in four types of behavior prohibited by the Fair Debt Collection Practices Act (FDCPA): harassment, unsubstantiated threats and threatening arrest, false claims, and unfair practices.
3. Automatically track KPIs.
By tracking KPIs such as successful contact and first-call collection, collections agencies stand to gain valuable performance-related data. Artificial intelligence and speech analytics software may be implemented to follow these benchmarks and determine company and/or individual success—however that may be defined—over time. With artificial intelligence and speech analytics software in place, it's not a problem if agents miscategorize their dispositions.
4. Create competition.
Employee engagement is a pain point in many collections agencies. It is important to work to grow engagement and keep agents active and motivated. One way to achieve better engagement is to promote healthy competition amongst agents. Using artificial intelligence and speech analytics software, managers can automatically rank their agents based upon performance in real-time. Scores—both between one agent from week-to-week and across all agents—serve as benchmarks. Providing concrete goals helps make work challenging yet fun.
5. Quicken the training process with consistent, comprehensive feedback from the start.
Habits form easily. As time passes, behaviors become routine, and it grows harder to encourage agents to change. For this reason, it is crucial to promote positive and effective work practices from the start. Using artificial intelligence and speech analytics software, an employer eliminates the lag between the call and the feedback to get agents performing well faster.
6. Maintain PCI compliance.
Payment Card Industry (PCI) compliance standards apply to any business or entity that accepts payment via credit card. Remaining compliant keeps customers' credit card information safe. It is important for collections agencies not just to establish but also to maintain PCI compliance by consistently employing safeguard measures. Also, it is important to redact other sensitive information such as social security numbers and drivers' license information. Artificial intelligence and speech analytics software can easily and automatically redact card data and other sensitive information from all audio recordings.
7. Confirm dispositions.
Use artificial intelligence and speech analytics software to check agents' dispositions. Mistakes happen, and agents may miscategorize calls. Alternatively, it is possible that disposition options are too broad or not comprehensive enough. Artificial intelligence and speech analytics software can monitor calls to assess if this is the case. It is important to have complete and accurate dispositions, since collections agencies often use this information to assess call techniques and the strength of their contact database information.
8. Score every single call.
Many collections agencies hold thousands of phone conversations every day. How does an employer determine where each agent needs additional training? By using artificial intelligence and speech analytics software, a collections agency can automatically, without assigning a person to do so manually, score all customer communications to pinpoint every agent's strengths and weaknesses. This allows the manager to focus time on where each agent needs the most coaching.
9. Receive objective scores for each call.
When it comes to scores, bias is never desired. When calls are scored manually, complex workplace dynamics and pre-existing relationships may play into score results – whether intentionally or unintentionally. By using artificial intelligence and speech analytics software, a collections agency can eliminate scorer bias and automatically, without someone doing so manually, assess all calls from an objective point of view. Plus, when artificial intelligence is used to score calls, results are more accurate than if done so manually, especially with calls lasting longer than five minutes. Ultimately, the onboarding process benefits when agents receive honest and fair performance scores.
Take advantage of artificial intelligence and speech analytics software to help ease and improve the daily operations of collections agencies. As the landscape of the industry continues to develop, staying on top of the latest technology will prove more important than ever in differentiating your company from the rest.
StataPile in Action
One of StataPile's clients was having issues with their customer service representatives' adhering to scripts and procedures. By omitting steps, employees did not obtain the correct information from customers, and the company started to lose customers. It didn't help that their quality assurance team was only scoring 1 or 2 calls a month. Plus, the customer service representatives were frustrated with the inconsistencies in the scoring process and obvious biases from the employees who were doing the scoring. To stop losing customers, the company needed for their calling group to start following procedures quickly, but they were having trouble identifying who was and was not adhering to the established processes.
StataPile built a custom AI model using neural networks, machine learning and natural language processing to identify types of calls, the context of the calls and whether procedures were followed. The model was built using all the components of the audio file, including what's heard on the audio file, not keywords or key phrases.
When the model was compared to human scoring it matched over 95% of the time.
By implementing StataPile's innovative artificial intelligence technology, the company could monitor and train employees easily, eliminating errors. StataPile's AI automatically scores each and every customer interaction over the phone to determine whether employees are following procedures. The system automatically emails the agent a summary of their strengths and weaknesses then informs Supervisors on which agents have actually looked at it. Each agent can also log in to the portal to review their overall performance and each supervisor can review their team members. The scoring system provides supervisors the information they need to hold employees accountable and to determine the effectiveness of all processes.
The Road to Success
After working with StataPile for just four months, the company's employees increased adherence to procedures from 77% of all calls to 93%, boosting the effectiveness of their conversations and increasing their first call resolution.
StataPile automatically tracks customer interactions, conversion rates, first call resolution, and overall employee performance. The system gives you the essential tools to ensure employees follow procedures and identify where they need additional training.
For more information on how StataPile can improve your employee performance, schedule a demo today
An environmental services company with commercial and residential customers turned to StataPile to to refine their quality assurance (QA) process. They have nearly 6,000 employees and offer collection, transfer, disposal, and recycling services to more than 3 million customers in the United States and The Bahamas. They utilized StataPile's artificial intelligence quality assurance system to automatically and consistently score calls for all employees in their customer service centers with 95% accuracy at a low cost per scorecard.
Prior to implementing StataPile, the company evaluated call recordings manually. The process involved their QA team and an external organization. Under the manual QA process, calls from a random sample of employees were scored each month. This system was time consuming, inconsistent in its scoring procedures, involved small sample sizes, and was too expensive per scorecard.
Implementing a Solution
The implementation process was complex. With over seventy contact centers, each with multiple types of phone systems (both onsite and cloud based). It was necessary to score employees on more than 100 different procedures. In terms of reporting, they wanted to aggregate data by employee, team, contact center, district, region, and company. StataPile's seamless integration, simple onboarding process, and hard working account management team allowed the company to learn and use the platform in less than 2 weeks. StataPile's structure for the company's information made it easy for their client to group users and phone numbers/extensions into the desired categories. Additionally, company was able to use APIs to pull call data easily into StataPile's portal. Using company's existing call script and scoring materials, the account management team assisted them in developing custom call types and procedures formatted for the StataPile platform.
Complaints decreased by over 40% in just 2 months. StataPile's system identified unaddressed operational issues ranging from repeatedly missed routes to routine improper billing at each of company's contact center locations. These issues hadn't been tracked under the old manual QA system. When company compared the issues StataPile uncovered with previously reported issues, they found that their contact centers had been failing to log up 80% of the total issues. Being able to hold employees accountable and solve both operational and service problems led to a sharp reduction in complaint calls.
After implementing StataPile, company's sales and customer retention statistics improved as well. StataPile identified the phrasing and procedures that resulted in the highest conversion rate for potential new accounts and the best "save" rate for customers calling to cancel existing accounts. This information was tracked and automatically communicated to managers and C-level executives. Within 90 days, conversion rates improved by over 30% and "save" rates increased by 17%.
Real time feedback boosted adherence to procedure by 53% in the first quarter after implementation. The StataPile portal provided managers and employees with consistent feedback. Employees received live access to performance scores, notifications of missed procedures, and daily, weekly, and/or monthly summaries of performance results. The summaries highlighted the steps employees routinely hit and missed.
Another Success Story
StataPile's Ai call analytics program allowed the company to improve employee performance and boost customer satisfaction. The company has since downsized their QA department and eliminated costly and inefficient procedures. StataPile's system provides their client with full informational transparency to drive better sales and service over the phone and in the field.
For more details, schedule a demo today
Overview: Company X provides environmental services to commercial and residential customers. The company has nearly 6,000 employees and offers collection, transfer, disposal, and recycling services to more than 3,000,000 customers in the United States and The Bahamas. Company X implemented StataPile's platform to strengthen call monitoring, refine the quality assurance (QA) process, and gather business intelligence in order to increase sales conversions, improve customer service, and streamline operations.
Problems with Existing Evaluation System: Prior to implementing StataPile, Company X evaluated call recordings via a manual QA process. The process involved a joint effort between Company X's QA team and an external organization. Under the manual QA system, calls for a random sample of employees were scored each month. Problems with the manual QA system included:
-Inconsistent scoring procedures
-Small sample sizes
-High cost per scorecard
Implementation – Unique Set Up and Complex Requirements: Company X opted to implement StataPile's artificial intelligence QA system in order to automatically and consistently score calls for all employees—with 92% accuracy and for a low cost per scorecard.
Company X's StataPile implementation was complex. With over 70 contact centers, each with multiple types of phone systems (both on-premise and in the cloud), Company X's existing setup created a challenge for StataPile. Additionally, Company X requested that StataPile score employees on more than 100 different procedures. In terms of reporting, Company X desired a unique set up. They wanted to aggregate the data by employee, team, contact center, district, region, and company.
Due to StataPile's integration abilities, simple onboarding process, and account management team, Company X was onboarded onto the platform in less than two weeks. StataPile's company structure breakdown allowed Company X to group users and phone numbers/extensions into the desired categories (e.g., employee, team, contact center, etc.). Additionally, Company X was able to use APIs with Five9 and West Communications to pull call data seamlessly into StataPile's portal. Using Company X's existing call script and scoring materials, StataPile's account management team assisted Company X in developing custom call types and procedures formatted for the StataPile platform.
After implementing StataPile, Company X learned that benefits far exceeded automating the call scoring process.
Complaint Calls Decreased by Over 40%
The StataPile system identified unaddressed operational issues at each of Company X's contact center locations. The issues ranged from repeatedly missed routes to routine improper billing. Although these issues should have been tracked via the manual QA system, neither had been documented in the past. When Company X compared the issues illuminated with StataPile versus the issues previously reported, Company X determined that their contact centers had been failing to log up to 80% of issues. With StataPile, Company X has the tools necessary to hold employees accountable and to solve operational and service issues. As a result, Company X reduced complaint calls by over 40% in two months.
Identified Phrasing to Increase Sales, Retain Customers
After implementing StataPile, Company X's sales and customer retention statistics improved as well. StataPile identified the phrasing and procedures that resulted in the highest conversion rate for potential new accounts and which phrasing and procedures produced the best "save" rate for customers calling to cancel existing accounts. This information was tracked and automatically communicated to managers and C-level executives. Within 90 days of implementation, conversion rates improved by over 30% and "save" rates increased by 17%.
Real-Time Feedback Boosted Performance by 53%
In addition to enhancing operations and service, Company X improved employee performance by an average of 53% in the first quarter of implementation. The StataPile portal provided managers and employees with real-time, consistent feedback. Employees received live access to performance scores; alerts providing notification of missed procedures; and daily, weekly, and/or monthly summaries of performance results. The summaries highlighted the steps employees consistently hit and missed. StataPile and Company X facilitated acceptance of the new platform by providing employees with access to their information and score breakdowns.
StataPile's machine learning call analytics program has allowed Company X to improve employee performance and boost customer satisfaction. Additionally, Company X has reduced QA headcount and eliminated costly and inefficient scoring procedures. StataPile's system provides Company X with full informational transparency to drive better sales and service over the phone and in the field.
StataPile increases profits by identifying successful promotions.
One of StataPile's clients, a top outbound sales organization, runs call campaigns to encourage existing customers to make the most of their product offerings. As part of the campaign, the company's reps pitch one of three promotions. Using StataPile, 100% of the company's outbound calls are automatically scored to identify each promotion's success rate and to determine the effectiveness of varying sales strategies. Since starting the program, StataPile shows a 23% increase in conversion.
This system has increased accuracy, reduced costs, and improved employee performance.
StataPile's AI can monitor every call, listening for specific words, phrases, and outcomes. With 92% or higher accuracy, employees and management have access to consistent, meaningful analytics.
With StataPile, clients can save on labor costs. Rather than spending time manually scoring customer-employee interactions, StataPile provides automated scorecards and feedback. Then, clients can re-allocate energy and resources on coaching and training.
Improve Employee Performance
StataPile provides employees with actionable insight. By helping them hone their approach via reports and coaching tools, StataPile allows employees to improve their productivity and confidence.
For more information on how StataPile can automate your quality assurance process.
What if all it took to improve your call center's customer satisfaction rating was flipping your agents' script? Try switching all negative statements into positive ones. Easy enough, right?
So you've updated scripts and trained your agents. Now what? All that's left is assessing customer calls to see how positive statements are performing and to pin point any weak spots that may exist. Artificial intelligence and speech analytics software easily analyze all of your agents' calls. With this technology in place, both managers and agents receive regular updates on agents' performance and may rest assured that the following five phrases are out of use.
1. "No, I don't have that in stock."
Rather than leading with a negative statement, stay positive and inform the customer that you can certainly locate the item. Follow-up by explicitly prompting the order by asking how soon the customer needs the item and how the customer would like to receive the item. Be sure to offer several delivery methods in an "A or B" format to express that you care about what is most convenient for the customer. Artificial intelligence and speech analytics technology assess agents' calls to ensure that they remain positive throughout every customer interaction.
2. "I don't handle this issue."
This is always frustrating to hear, especially after a customer waits a long time to make contact with an agent. Instead of simply telling the customer that you don't handle a particular issue, inform the individual that you will quickly transfer the call to the relevant department. If the relevant department has a wait-time, offer to have the department call the customer back at a later time. Be sure to leave the call-back time relatively general, since it's never smart to guarantee that someone else will follow-through with a call at an exact time. Artificial intelligence and speech analytics software help keep agents on board and aid in shifting habits towards those that best promote customer satisfaction. Receive objective score reports for every single call to best analyze agents' performance on this issue.
3. "You're wrong."
Never blame the customer or accuse him or her of being wrong. While the customer will undoubtedly, at times, truly be wrong, take the opportunity to explain to the customer what is right—rather than simply pointing out where he or she is mistaken. Artificial intelligence and speech analytics software are trained to recognize call behaviors and track if agents engage in accusatory actions towards customers. When mistakes are made, artificial intelligence and speech analytics software help re-train agents and keep them on the right path moving forward.
4. "Don't worry about it. It's not a big deal."
Rather than knocking down your customers' concerns, practice empathy and understanding. Do your best to apologize genuinely and, whenever possible, offer an actionable and accessible solution to a customer's concerns. Artificial intelligence and speech analytics software monitor agents' calls for empathetic behavior.
5. "I don't know."
Always do your best to provide some type of answer for your customer. If the truth is that you do not know, offer to transfer your customer's call to someone who does know. Alternatively, simply take it upon yourself to ask someone who knows, and remain the contact person for your customer. Artificial intelligence and speech analytics software back up your agents to make sure they foster customers who are as informed—and satisfied!—as possible.
A leading telecommunications provider wasn't able to track repeat complaints or resolve certain types of customer problems in an appropriate amount of time. 60% of customers that called the company three or more times about the same problem within 30 days ended up cancelling their accounts within 12 months. StataPile helped the company improve its customer retention.
StataPile resolved this company's customer issues by identifying repeat callers and patterns for the types of complaints that were not resolved quickly. StataPile tracks customers calling multiple times about the same issues and developed an automated alert system to send notifications when the same customer made multiple complaints within 30 days. Under the former system, the company couldn't track if customers called about the same issue within a certain timeframe. Now, they can prioritize when calls or complaints should be escalated. StataPile's system was able to identify customers at risk and improved the company's customer retention the first time.
Providing the Tools You Need
StataPile's automated call performance tracking keeps your team focused on what matters most to customers. With these tools, you can identify the most urgent complaints first to minimize lost customers.
For more details on how StataPile can improve your customer retention the first time, schedule a demo today