How Can IVR System Solve Business Challenges?

IVRs need no introduction. We have covered a lot about the functioning of Interactive Voice Response in business phone systems in our previous blogs. Today, we are going to highlight some of the major challenges faced by businesses around the globe and how IVR system provide solution to those challenges.

Phone calls are like life-lines for customers. Especially for those who have some urgent concern or need for a business product or service. At times, matters are so trivial that connecting with the right agent becomes an absolute necessity. As a smart business owner, it becomes your responsibility to bring effective and efficient call management solutions in place so that there’s always a win-win situation for you and your callers.

So, when it’s about streamlining business communication processes, IVR i.e. Interactive Voice response system is just the perfect solution. Today, most of the companies prefer to go with hosted IVR solutions because of their added advantages over the on premise solutions. Besides being cost effective, hosted IVR System helps businesses in:

  • Lesser Resolution Time
  • High Employee Productivity
  • Better Employee Performance Analysis
  • Lesser Call Transfer Errors
  • Building a Professional Image

As per Market Research Future, the Global Interactive Voice Response (IVR) Systems Market is estimated to reach US$6.7 Billion by the Year 2026. Some of the major growth drivers of Global Interactive Voice Response Market are:

  • Increase in demand to handle customer queries in real-time among end-users
  • Rise in need to handle and deal with incoming call spikes
  • Increase in demand of customer service efficiency
  • Boosting customer satisfaction
  • Growing adoption of advanced technologies such as cloud computing, artificial intelligence, and robotic process automation among businesses
  • Increasing need to standardize business processes
  • Demand for cost effective operations among organizations

How IVR System Solves Business Challenges?

The above information clearly indicates that the IVRs are going to stay in the market for a long time. Let us now understand how IVRs helps businesses in solving various challenges. Take a look:

Call Capacity

Call Volumes are never the same. With growth of the business, call volume certainly rises. But one can also see an upsurge in customer calls during special events and specific time of the year. It becomes important to keep efficient tools at one’s disposal so that spike in call volume does not create panic. The self-help option provided by IVR helps in managing a certain amount of customer calls without any intervention of the agents. Especially for small businesses where agents are less, IVR is of great use.

Reduce Answering Time

Another big challenge for businesses is the time they take to answer customer calls. The lesser the time, more satisfied the customers will be. IVR system facilitates this benefit by providing customers with pre-recorded information. Also, it reduces answering time significantly by connecting callers with the right agents, thus eliminating time wastage in call transfers.

Save on Resources

Accept it or not, money matters to every business. IVR system helps businesses in setting up and managing their call center without investing additional money and resources. Modern day hosted IVR solutions can be easily customized as per the communication needs of a business.

Offer Personalized Customer Services

An IVR welcomes callers with personalized greetings which gives a good impression of the business. IVRs can be customized to address callers by their names which certainly grabs the attention of the caller. Moreover, Customers can choose to interact with an IVR in their preferred language.

Increased Call Center Availability

Calls that arrive after business hours can make a business lose lucrative deals. But hiring multiple agents to ensure 24/7 availability can burn a hole the business’s pocket. An IVR system comes as an effective solution to this problem. An IVR can take care of regular business queries by itself. For other types of queries, businesses can fetch missed call details from the IVR system and follow up with callers.

Offers Convenience to Callers

Not all callers have the same preferences and so are their queries. Some of them might like to use the self-help service offered by business IVR while others may prefer to talk with a live agent. Also, an IVR system keeps the callers on hold till the time the right agent is available to talk. By presenting callers with these options IVRs adds to the convenience of the customers.

Save on Deployment Cost

On-premise solutions demand a lot of time, money and effort from a business. Besides dedicating a specific physical space for installation of the hardware, a business has to put in a lot of money to keep the systems running. Whereas hosted solutions can help businesses in saving a significant amount of money. Since these systems are hosted by third party service providers, the saved amount of money can be applied in other critical areas.

Improves Company’s Reputation

There are several factors that contribute towards the market image of a business. Amongst all, the quality of customer service surely contributes towards it. Since IVRs help in providing personalized and prompt customer service, it certainly helps in maintaining the quality of services offered to the customers.

Looking for the Best IVR Solution?

KloudTalk offers Multilevel IVR as a feature along with various others in its advanced business phone system. To know more, please get in touch with us. You can also read our post on How to Choose the Best IVR Service Provider? 

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