Upon implementing a speech analytics solution, many companies assume that it should tie into all of their other programs, including their CRM system. Speech analytics technology is able to integrate with many CRM systems, however there are important differences between the two platforms and how they are used which must be understood. Let’s take a look:
A customer relationship management (CRM) system keeps track of a company’s interactions with its current and potential future clients and/or customers. It stores important data including contact information, each interaction, and sales opportunities associated with each individual. In a contact center, a CRM system can be used to transfer communications (via phone, chat, email, social, etc. support) to an agent that the individual has worked with in the past who is familiar with their needs/questions/concerns. A CRM system looks at customer data on a contact level.
Speech Analytics Solutions
Speech analytics software records calls and provides companies with statistical reports including data gathered directly from customer interactions by searching conversations for key phrases. The business intelligence gathered from speech analytics technology allows decision makers to optimize their strategy for the best possible outcomes across multiple departments, which results in increased revenue and diminished risk. While a CRM system is looking at information at a contact level, a speech analytics solution is looking for trends and patterns across many contacts.
There are differences between the type of information a CRM and speech analytics platform each provides. The primary differentiator between the two technologies is the “one vs. many” approach. A speech analytics solution analyzes trends and patterns across multiple calls. Speech analytics technology is not designed to benefit one person’s individual circumstance or call recording.
In addition, a CRM system assists call center agents as they conduct their job. If an agent was to use speech analytics technology as they work they would need to navigate multiple screens by logging into different applications while they’re on the call or after they finish the call. That isn’t the best use of the agent’s time. To maximize the benefits of a speech analytics technology investment it is important for a manger or upper-level employee to manage insights and then share them with the team.
Both CRM systems and speech analytics software are invaluable business tools. However, they serve unique purposes in the call center and it’s important to understand this as you incorporate speech analytics into your business practices.