Post on 20-Dec-2015
Speech allows your callers to
conduct business,TODAY, over any network
just by talking!
SpeechWorks at a Glance Founded 1994, Headquarters Boston, MA (SPWX)
Core Software:
– Automated Speech Recognition (ASR)– Text – to – Speech (TTS)– Speaker Verification
Technology Origins: MIT
320+ people around the world
Market Leadership 2001 #1 in market share* (2001 Rev. 45m +49% growth)
Vertical Focus:– Tier 2
~ Retail~ Utilities~ Government
– Tier 1~ Financial Services~ Healthcare~ Travel & Hospitality~ Telecommunications
Why Companies Deploy Speech…
Justification Rank
Reduce Operational Costs 1
Increase Successful Call Resolution Rate 2
Increase Revenue Per Agent Interaction 3
Increase Customer Satisfaction 4
Increase Self-Service Options for Callers 5
Reduce Capital Expenses 6
Ability to Deploy Additional Apps More Quickly 7
Source: Kelsey Group ROI Study, June 2002
Kelsey Group ROI Study Highlights
Critical Metrics FindingsAverage Annual Savings per Deployment
$1.02 Million
ROI Met or Exceeded Your Expectations
100% - Yes
Average Cost Recovery (Payback) 9.5 months
Fastest Return on Premise Based Solution
6 months
Respondents Recovering Costs in 12 Months or Less
90%
Increased Automation over Existing IVR (Touch-Tone)
30 to 55%
Source: Kelsey Group ROI Study, June 2002
Speech Delivers Value
1. Reduce Costs
2. Increase Customer Satisfaction
3. Competitive differentiation
4. Revenue generation
Reduced Costs: Amtrak
Before
– Annual call volume: 2.8 million calls– Touch Tone VRU handled 42% of all train status calls (1.2
m calls)
After
– Speech-activated train status app deployed September 2001
– Speech handling 72% of calls
Application
Additional Automated Calls
(Annual)
Savings per call
Annual Savings
Train Status 850,000 $1.60 $1.36
million
Reduced Costs: United Airlines Flight Information
“United Airlines flight information system has taken over 50 million calls since it went live at the end of 1999 and has saved UAL
over $25 million.”
-Bob Bongiorno, UAL - Managing Director of Customer Service
SpeechWorks 2002 Global SpeechDays Event
Purdue University Banking Call Center Study
According to a benchmark study on bank call centers by the Center for Customer-Driven Quality at Purdue
University…
Speech-enabled calls…
…improve Customer Service and save time.– Speech interaction reduces call time by 35%, compared to
touchtone
Source: Purdue University, December 2001
$0.00$0.50
$1.00$1.50
$2.00$2.50
$3.00$3.50$4.00
Agent SpeechRec
Agent SpeechRec
…provide compelling cost savings.– Agent-assisted calls cost ~ $4.00– ASR calls cost only 45 cents!
…free agents from low-value calls, which…
– …can last almost five minutes– …have an abandon rate of almost 6% – …have an average hold time of 37
seconds
15%
36%
47%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Much MoreSatisfied withTouch Tone
Neutral Much MoreSatisfied with
Voice Recognition
Gartner Customer Satisfaction Study: Satisfaction Comparison
Source: Gartner SpeechWorks Customer Satisfaction Study, 2002
Note: 2% Unsure
14%
27%
49%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
Much MoreSatisfied with
Internet
Neutral Much MoreSatisfied with
Voice Recognition
Touch Tone vs.Speech
Recognition
Internet vs.Speech
Recognition
Respondents ‘Top of Mind’ Reactions
Voice Recognition ‘Likes’
It’s quick (32%)
Easy to use (15%)
Answer all questions, get needed info (12%)
Don’t have to wait or be on hold (11%)
Works well overall (8%)
Voice Recognition ‘Dislikes’
Nothing negative about voice recognition (28%)
Impersonal, prefer live person (19%)
Can take more time (14%)
System can have difficulty understanding me (14%)
System couldn’t answer the specific question (10%)
Source: Gartner SpeechWorks Customer Satisfaction Study, 2002
Customer Satisfaction: Citibank Germany
Expected results for stock quoting/trading application
– Ramp-up rate was based on experience in persuading customers onto existing Touchtone IVR Systems
Expected Take-up Rates
Year 1
Year 2
Year 3 Year 4 Year 5
30% 40% 50% 60% 70%
Buy & Sell Orders Placed by Phone
0
10
20
30
40
50
60
70
80
90
100
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31
Weeks Since Deployment
Per
cen
tag
e o
f O
rder
s
Exe
cute
d o
n I
VR
Pe
rce
nta
ge
of
Ord
ers
E
xe
cu
ted
on
th
e I
VR
Buy & Sell Orders Placed by Phone
Weeks Since Deployment
1 3 5 7 9
11 13 15 17 19 21 23 25 27 29 31
10%
50%
100%
5 Year Target Reached in 5 Months – and still rising!
Competitive Differentiation: CIBC
1. Speech-activated retail banking allows customers to:
– Register and pay bills from any phone – Re-order checks and locate bank branches and bank machines
2. Speech-activated discount brokerage service allows customers:
– To place equity trades, review account information and open orders
3. Speech-activated mortgage service allows customers to:
– Obtain current mortgage rates and comprehensive information about a specific mortgage
4. Embedded Text-to-Speech in ATMs (Speechify Solo)Have received press and analyst
praise for innovative customer service
Adopted and deployed speech across 4 business units:
Revenue Generation – Voice Portal: AOL Ten speech applications in
service
– Check email, weather, sports, stocks and news
Members can customize the weather, stock and headline news information
Can default to weather information based on area code from where call is placed
Over 200,000 members have signed up for AOLbyPhone and agreed to pay $4.95/month for service
(800) AOL-1234 Subscription service generates $1 million in incremental revenue per month
Summary of Speech Versus Touch Tone
Touch-Tone
Speech
Speech Advantages
More intuitive interface
Flattens menus
Facilitates hands-free use
Easier navigation through commands
Ease of use
– spelling with touchtone keys
– entry of currencies, dates, etc. with touchtone keys
Thank you!