What is Interactive Voice Response (IVR)?

Interactive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and DTMF tones input via keypad. In telecommunications, IVR allows customers to interact with a company’s host system via a telephone keypad or by speech recognition, after which they can service their own inquiries by following the IVR dialogue. IVR systems can respond with prerecorded or dynamically generated audio to further direct users on how to proceed. IVR applications can be used to control almost any function where the interface can be broken down into a series of simple interactions.

IVR systems are typically intended to service high call volumes, reduce cost and improve the customer experience. Examples of typical IVR applications are telephone banking, televoting and credit card services. Companies also use IVR services to extend their business hours to 24/7 operations.

Benefits of Interactive Voice Response

Any tool that can help your company to excel is worth considering. Here are the benefits of making IVR a part of your customer interactions:

• Management of high call volumes: With IVRs, hold times can be reduced or avoided by helping customers be redirected or by assisting them in performing simple tasks or gaining information (FAQs) by themselves.

• Customer satisfaction: Straightforward calls empower clients and lead to satisfaction. When a customer needs to speak to a person, IVR technology can route the call to the right staff.

• 24/7 customer access: IVR services can operate at all hours, providing customers with information and following through with services at any time.

• Frees skilled staff for other tasks: With IVR, valuable staff can focus on tasks that require critical human thinking, leaving the redirecting of calls and mundane queries to the IVR technology. This innovative use of technology allows your employees to be more productive, resulting in a profitable workforce.

Use Cases for Interactive Voice Response

IVR systems are typically intended to service high call volumes, reduce cost, and improve customer experience. The most common use of this technology is to automate inbound and outbound calls. In the situation where calls need to be routed, the IVR works as a switchboard operator.

Other examples of IVR uses include:

• Bank account balances and queries
  Office call routing

• Transactions for orders or data entry

• Sourcing information that has a direct answer (such as opening times or booking steps)

• Sales order forms

• Surveys and polls via IVR outbound calls.

Companies That Should Use IVR

Examples of typical IVR applications are telephone banking, televoting, and credit card services. Companies also use IVR services to extend their business hours to 24/7 operations. For high call volume businesses, IVR can be a great tool.