We are all accustomed to hearing automated and pre-recorded menu-driven recordings when we call a company. That automated menudriven message that guides you to the right customer-care agent is the Interactive Voice Response (IVR). Today, almost every company we interact with use such automated calling services. We can automate various customer calls through IVR. The IVR services costing is less. Thus, every modern organization leverages it. This article will give you a quick walkthrough of the various benefits of the IVR solution and how enterprises can improve customer service using IVR.

What is an IVR system?

Interactive Voice Response is an inbound telephony calling system that helps companies automate call receiving services and increase the productivity and sales of a company. It tells the caller to press the dial pad to identify, segment, and route customer calls to the most suitable customer care executive. IVR does not replace live agents but improves customer satisfaction while allowing customer care executives to handle inbound calls. Also, IVR services costing are significantly low, which makes it an ideal choice to increase business productivity. According to Industry Arc's prediction and report, the global market size of the IVR system will reach 6.11 billion USD by 2025. That will give a Compound Annual Growth (CAGR) of 6.31% from 2020 to 2025. Let us now explore the benefits of IVR solutions.

Benefits of IVR solutions in reducing cost and gaining productivity

There are various benefits we can leverage through IVR. Also, we can improve customer services using IVR. Let us explore some of them.

1. Skill-based routing: The most apparent reason we use IVR is that we can design its menu where the IVR system can route the callers to the most suitable agent to solve their query. If the caller gets the first available agent who is not skilled in solving a particular type of query or problem, it might waste the caller's time. So, modern IVRs can route the callers to the most skilled agent.

2. Prioritize the customer: Modern IVRs help us connect to CRM solutions that store customer details. The customer care agents can see the customer details on their screens. High-valued customers are the company's assets. Therefore, the IVR prioritize their calls and redirects such high-valued calls to skilled agents. It enhances customer service and gives a better caller experience.

3. Enable self-service and make call centers more effective: We can enable self-service through IVR solutions. IVR helps automate the customer care service by allowing and re-routing callers to obtain the proper information and solve their queries. Such automated processes do not simply free agents from performing mundane tasks but also make customer service more efficient.

4. IVR over agents: Often call centers remain flooded with queries that are simple and easy to solve. IVR solutions can route these queries and resolve them through the details or channels provided through the system. Using such an automated technique, we can enhance business productivity and leverage IVR solutions over the workforce. That will eventually provide agents additional bandwidth to focus and solve more intricate caller problems. Such solutions can also reduce costs by eliminating unnecessary hiring of agents.

5. Improve customer service by increasing the first-call resolution rate: We can also use modern speech-enabled IVR solutions that give callers the privilege to get details about their latest shopping or services without any live agent interaction. If the caller's issue doesn't resolve, IVR redirects callers to the most appropriate agent available so that the query gets solved in the first call. Such approaches significantly reduce call drops and enhance business services to customers.

Conclusion

We hope this article has given a crisp idea of the various benefits of IVR solutions and how IVRs can achieve business productivity by reducing costs and improving customer service. If you are looking for an IVR solution provider, try Knowlarity. It is one of the leading call center managing solution providers that deliver high-end systems at an affordable cost.