What’s Next in Call Recording?
Businesses of all sizes and industries have long recognized the benefits of documenting their communication with customers. Demand for call recording is largely driven by the need to provide excellent customer service, satisfy business needs for compliance, enforce best practices, train agents, and gain protection from litigation.
So, what lies ahead is the big question. Of course, topics like speech, analytics, the cloud, and data integration, along with innovative capabilities realized by embracing artificial intelligence (AI), are going to define the road forward as well as the challenges that are ahead of us. Technology has been, and will remain, the key growth driver for any business leaping forward and call recording is no exception.
Adapting to Changing Market Demands
Efficient call recording solutions help differentiate your business from the competition and provide valuable, and sometimes hidden, insights. Voice combined with analytics will take the game to next level. GlobeNewswire reports a healthy CAGR of over 22% for the combined call recording market, which is expected to grow to US$ 3.04 billion by 2022.
Additionally, business intelligence through analytics helps manage employee performance as more and more businesses shift their focus to personal productivity and timely resolution of issues in order to significantly improve customer satisfaction and retention rates.
The Next Generation of Call Recording Software
Next generation call recording solutions will need to be flexible enough to adapt to newer technologies. Today’s industry leading solutions have already become highly modular, scaling according to evolving business needs and enabling efficiency with multi-site management regardless of borders. Businesses can search through a pile of recordings using various search parameters such as date, time, duration, extension number, agent name, and direction of the call. They offer compliance ready for agents to manually pause and resume recording to accommodate situations where customers are sharing financial information or during sensitive conversations. They also provide comprehensive statistics to measure and analyze call volumes and performance, enable automation, and provide easy customization of reports while being highly cost-effective to improve the bottom line.
Perhaps even more exciting is the increased use of AI, which can be incorporated into call recording solutions to provide for detection of tone and sentiment analysis, allowing call center supervisors to perform timely interventions as needed that increase customer satisfaction. AI capabilities in call recording can also help businesses to identify gaps in service levels and reduce customer attrition. For some segments of customers, analytics also help identify up-sell and cross-sell opportunities to boost revenue. Machine learning is quickly evolving to a point where businesses will be able to predict customer behavior and solve problems before they even happen for a seamless customer experience.
The relentless march toward globalization creates challenges and opportunities for businesses looking to establish an integrated communication and solution infrastructure across regions and countries. Differing standards in different countries add to the complexity. Call recording solutions need to transcend these challenges. Fortunately, ShoreTel’s presence in all parts of the globe, along with TriVium’s next generation call recording and analytics, can help businesses overcome these difficult tasks and deliver better customer experiences as a result.
Mathews Manaloor is the President & CEO of TriVium Systems, a leading provider of innovative call recording and analytics solutions. He has over 30 years of experience in the converged communication marketplace. He is passionate about technology and how it can help solve the ever-changing challenges businesses encounter. In his free time, Mathews loves to hike and explore different parts of the Pacific Northwest and beyond. He is also actively involved in community service to help the homeless.