Speech Analytics Software

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VoiceAnalytics

VoiceAnalytics is a voice and data analysis platform based on advanced artificial intelligence technology. The system processes and analyzes digitally stored audio and its metadata provided by a customer's recording system. The p...Read more about VoiceAnalytics

4.83 (6 reviews)

MeetRecord

MeetRecord is a software that allows users to record their meeting in real-time and add it as a file to their company's Google Drive account. The software also features an easy-to-use interface, so you can easily navigate through ...Read more about MeetRecord

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VoiceAI

POWERFUL INSIGHTS INTO THE VOICE OF THE CUSTOMER Each and every interaction in your organisation contains a wealth of powerful intelligence to help shape customer experience, compliance, and strategic planning. However, organisa...Read more about VoiceAI

4.00 (1 reviews)

assist365 - AI-powered Virtual Assistant

assist365 is a multilingual conversational AI that can clearly understand and respond to more than 20 languages. The well-optimized NLP and NLU engine in the assist365 deliver a human-like interaction experience to the users acro...Read more about assist365 - AI-powered Virtual Assistant

5.00 (1 reviews)

Chorus

Chorus is the leader in conversation intelligence and an integral part of ZoomInfo’s (NASDAQ: ZI) leading modern go-to-market software, data, and intelligence for more than 20,000 companies worldwide. Founded in 2015, Chorus’ Conv...Read more about Chorus

4.55 (62 reviews)

bluecap

bluecap is an artificial intelligence (AI) meeting assistant that joins meetings to take notes and record calls, helping users to stay focused on meeting participants. bluecap also keeps working after the call is done, providing e...Read more about bluecap

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AgentAssist

AgentAssist, helps you to serve your customers better through real-time voice analysis and digital interactions. The technology improves conversations between agents and customers by turning analysis into unique insights and reco...Read more about AgentAssist

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Gong.io

Gong's Revenue Intelligence platform captures your customer interactions across phone, web conferencing, and email, understands what was said in these interactions, and delivers insights to help your team win more deals. Learn ho...Read more about Gong.io

Snowfly

Snowfly is an employee engagement solution that helps businesses streamline employee recognition and satisfaction operations through incentives, rewards and gamification capabilities. It allows managers to monitor employees’ perfo...Read more about Snowfly

4.11 (18 reviews)

HGS Agent X

Highly engaged agents deliver superior CX that lead to higher customer loyalty. But businesses treat their contact centers as cost units and don’t empower their agents to deliver business value. HGS Agent X enables front-line agen...Read more about HGS Agent X

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NICE CXone

NICE inContact is cloud-based call center software that helps businesses to maximize the quality of leads and minimize the cost of client interaction. The solution comprises many features required to process inbound support reques...Read more about NICE CXone

Avoma

Avoma is an artificial intelligence (AI)-enabled virtual meeting assistant solution that helps businesses manage meeting notes, customer information, recordings and more. The application allows professionals to capture and store m...Read more about Avoma

5.00 (2 reviews)

Appen

Appen is an artificial intelligence (AI)-enabled solution that helps businesses across automotive, retail, healthcare and other industries streamline data extraction and natural language processing (NLP) operations. It enables org...Read more about Appen

4.06 (16 reviews)

EvaluAgent

EvaluAgent is a quality assurance solution for customer service organizations designed to evaluate and coach agents. This solution unifies customer feedback and agent performance data. It provides automated scoring for all custome...Read more about EvaluAgent

4.63 (19 reviews)

Marsview Notes

Marsview Notes automatically transcribes what’s spoken, shown and written in a live or a pre-recorded meeting. Using patent-pending AI technologies, the application writes out comprehensive notes, actions, questions and decisions....Read more about Marsview Notes

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CallTrackingMetrics

CallTrackingMetrics is a cloud-based call tracking and contact center solution for businesses and agencies that helps with tracking campaigns, reaching new audiences through integrated text marketing and online forms and using int...Read more about CallTrackingMetrics

4.57 (98 reviews)

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MaxContact

MaxContact is an omnichannel contact center solution that is designed for businesses across different sectors including BPO’s, financial services, utility providers, and more. Supporting inbound and outbound operations, MaxContact...Read more about MaxContact

4.73 (11 reviews)

Fonetik

Fonetik is the latest behaviourally-informed speech analytics platform in the market designed to help businesses understand customers, and what they say and feel. Fonetik puts the power into your hands through an intuitive point-a...Read more about Fonetik

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Prodigal

Prodigal is a cloud-based Consumer Finance Intelligence solution. Lenders, collection agencies, and healthcare providers depend on Prodigal to analyze every agent and customer conversation to enhance profits, customer experience, ...Read more about Prodigal

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MiaRec

MiaRec is a provider of conversational intelligence and automated QA for contact centers. Contact centers can use MiaRec across the workforce to modernize workflows and surface intelligence at scale. MiaRec's Conversational Analy...Read more about MiaRec

5.00 (1 reviews)

Buyers Guide

Last Updated: September 12, 2022

Introduction

Businesses often lack insights when it comes to understanding the problems their customers face. While post-purchase surveys and customer feedback forms try to fill this gap, they are somewhat ineffective as customers don’t always respond to such inquiries.

However, in today’s world, understanding what frustrates customers and what delights them has become easier. With innovations such as automatic speech recognition and speech analytics technology, customer service managers can now do much more than just listening in on calls their teams make/take. A speech analytics solution not only helps judge a caller’s emotional state but also the likelihood of them converting into a customer.

In this buyers guide, you’ll learn about the core features, key considerations, and other important aspects that will help you make an informed decision while choosing a speech analytics tool for your business.

Here’s what we’ll cover:

What is speech analytics software?

Speech analytics software helps businesses analyze live and recorded calls between customers and customer support teams, which allows improving the customer journey and providing a better customer experience. The software gives businesses better customer insight into how to improve their sales and customer engagement practices.

The software offers sentiment analysis and pattern detection capabilities that enable customer success teams to identify recurring customer challenges and determine the best possible resolutions.

Quality monitoring in CallFinder

Quality monitoring in CallFinder (Source)

Common features of speech analytics software

Vendors offer various kinds of features with their software products but to make the best choice, you need an understanding of the common features that a speech analytics software tool must have.

Sentiment analysis

Judge the tone and mood of any conversation in real time to understand the positive, negative, or neutral sentiment and link it with the overall customer experience.

Automatic transcription

Convert conversations in audio and video files into text and highlight key phrases with accuracy.

Call recording and archiving

Record, store, and categorize customer calls based on emotional analysis.

Predictive analytics

Analyze past and concurrent data to discover patterns and generate insights into future outcomes.

Language support

Understand and support a host of languages for speech-to-text conversion and customer sentiment analysis.

Call metrics dashboard

Access every customer interaction and gather insights related to caller intent, call duration, and key trends.

Clustering

Analyze, discover, and create reports on trends, key phrases, and recurring topics.

Real-time support

Provide technical support and training to sales and customer success teams.

What type of buyer are you?

The customer-facing role of any business makes investing in this technology necessary. Let’s have a look at the various types of buyers for speech analytics software.

  • Businesses with large customer support teams: These buyers usually belong to industries such as ecommerce, travel, and tourism, and may handle a lot of face-time with customers. Speech analytics software can help them optimize their contact center through customer sentiment analysis and offer quicker customer resolutions and more effective customer servicing.
  • Businesses with large sales teams: These buyers typically look for tools that help with sales gamification to enhance their sales processes. Managers can access call archives and view interactions to understand where their salespeople did well and which parts need improvement. By grading their calls and creating scorecards, this data can gamify and incentivize behavior. Predictive analytics is also used to identify cross-sell opportunities and educate and enhance salespeople to perform better.

Benefits of speech analytics software

Using speech analytics software can offer a lot of benefits to contact centers and users in customer-facing roles.

  • Improves customer experience: Speech analytics tools analyze thousands of calls and gather a lot of insights about customer needs and wants. Additionally, the tool can detect whether a customer is upset or frustrated through emotional cues. With such data in their hands, contact centers can quickly determine how to best solve customer issues and increase customer satisfaction rates.
  • Improves agent performance: When contact center agents speak with customers, speech analytics software can monitor these calls to evaluate agent performance and identify coaching opportunities. With the help of real-time monitoring, call center agents and customer support teams can be given instant feedback on areas that need improvement.
  • Ensures compliance and identifies risks: Speech analytics can also be used to check whether service calls are following organizational compliance criteria. Using a speech analytics tool will result in a workforce that is familiar with protocols and required disclosures. This can be a crucial advantage in terms of quality assurance in highly regulated industries such as healthcare or finance.
  • Increases cross-sell and up-sell opportunities: In both service-oriented and product-centric businesses, conversations can be monitored to find out which services or products are being mentioned the most by customers. This information can then be used to enhance sales conversion rates. Marketing teams can also take advantage of these insights to produce more effective marketing campaigns.

Key considerations

With a host of vendors in the speech analytics market, it is easy to get confused with choosing the right product. We suggest these key considerations before finalizing a speech analytics vendor to do business with.

  • Data reliability: The primary factor that goes into choosing the right speech analytics software is the reliability of its data. Data reliability, in this case, would include the accuracy and completeness with which conversations are analyzed and stored.
  • Sentiment analysis vs. voice recognition: A majority of buyers get confused between speech analytics and voice recognition technologies. The latter identifies audio and transcribes it into text while speech analytics goes beyond mere transcription and helps with emotion detection as well as call categorization based on keywords, caller intent, behavior, and customer needs, eliminating the need to evaluate calls manually.
  • Deployment: Another important consideration before investing in speech analytics software is the deployment options a tool offers. In today’s remote work environment, a web-based or cloud-based service is preferred over on-premise deployment models.

Note: The application selected in this article is an example to show a feature in context and is not intended as an endorsement or recommendation. It has been obtained from sources believed to be reliable at the time of publication.