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Witness Systems Adds Speech Analytics Solution to Its eQuality Workforce Optimisation Suite

  • 22 April, 2004 17:01

<p>- eQuality CallMiner application helps companies extract key information from recorded calls by analysing interactions for specific words/phrases, storing relevant details for in-depth analysis and flagging interesting/unusual contacts for further assessment -</p>
<p>SYDNEY (April 22, 2004) - Witness Systems, a global provider of performance optimisation software and services, today announced speech analytics technology, data-mining and trend-mining capabilities for analysing customer interaction content. The eQuality CallMiner application is the latest addition to the company’s expansive eQuality suite, which helps global organisations capture customer intelligence and optimise workforce performance.</p>
<p>Leveraging contacts captured through the eQuality customer interaction recording solutions, eQuality CallMiner provides organisations with in-depth analysis on opportunity and improvement areas, emerging trends and the “root causes” that drive call volumes in the contact centre - all through statistics and interactive charting that pinpoints the frequency of the topics, subjects and comments that are most prominent in customer interactions.</p>
<p>For example, users can quickly identify areas they need to analyse further through eQuality CallMiner’s trending charts, such as an uncommonly high use of a competitor’s name during customer interactions. Similarly, if the phrase “cancel my account” increases dramatically from one time period to the next, a company can be alerted to the growing number of dissatisfied customers. After identifying and reviewing trends, users can focus on implementing the appropriate actions to satisfy customer needs and retain their business. Organisations also can leverage the analytical capabilities of eQuality CallMiner to classify call types, providing insight into the types of contacts being handled directly by customer sales/service representatives (CSRs), as well as identifying those interactions that could be better served through a more cost-effective means, such as a customer self-service channel.</p>
<p>Whether companies record 100 percent of all customer calls - or opt for selective, business-driven recording - the volume of interactions will quickly exceed the time available to listen to and analyse all of the recordings. Valuable intelligence may go unheard as organisations strive to evaluate operations and improve customer contact effectiveness. eQuality CallMiner addresses this issue head-on, enabling companies to extract key information from recorded calls, perform evaluations, store relevant details for in-depth analysis and flag interesting/unusual contacts for further assessment.</p>
<p>Speech Analytics Technology - a Growing Market Segment
Industry analysts support the value that speech analytics technology delivers and the impact it can have on enterprise effectiveness, return on investment (ROI) and customer satisfaction. According to one report, the speech application market is expected to grow from US$700 million today to a multi-billion dollar business by 2008. (1)</p>
<p>“In today’s competitive environment, analysing customer responses to sales strategies and marketing campaigns, obtaining insight into competitors’ tactics, and gaining early warning of emerging customer and agent issues can significantly impact the bottom line,” explained Nancy Treaster, senior vice president of global marketing for Witness Systems. “By analysing the content of calls over time, both positive and negative patterns and trends become visible. By then correlating this data with other intelligence - such as the timing of a new product launch or the deployment of a new agent training program - businesses can refine their feedback loop to optimise further actions.”</p>
<p>About the eQuality CallMiner Solution
eQuality CallMiner combines speech recognition technology, statistical methods and data mining techniques to create searchable databases of agent/customer voice interactions in the contact centre. The software searches and interprets interactions by identifying pre-defined key words, or combinations of words/phrases, and converting the audio calls into text and statistics about what was said and the context around the conversations. eQuality CallMiner uses algorithms to classify the transcripts, weighing and cross-referencing the words and alternatives recognised to produce an optimised assessment of the conversation.</p>
<p>The software’s search rules can track specific words, such the name of a specific product, or spot those used in combination, such as the name of a specific marketing campaign or a phrase instructing an agent to cancel service. The solution allows contact centre management and executives to conduct user-defined queries and analysis of agent/customer contacts by viewing patterns and trends graphically, as well as making data comparisons between customer groups, agents, time periods and product lines. With eQuality CallMiner, users can drill-down into calls for further detail through its interactive charting tool or compare the transactional data to identify correlations, such as successful sales calls and the scripting being used.</p>
<p>In addition to extracting key information from customer interactions and automating the mining of those contacts, eQuality CallMiner enables users to quantify specific areas of interest - such as the degree of customer dissatisfaction expressed in contacts, the frequency with which agents reveal a lack of knowledge on a specific subject, or how well agents are adhering to their scripts. The solution also helps reduce business risk by automatically highlighting contacts that may not meet regulatory and compliance guidelines. eQuality CallMiner alerts users by sending notifications automatically when pre-defined scores and thresholds are met. It enables users to determine the root causes that result in increased call volumes into centres by identifying specific contact types - such as back office transactions that include order fulfillment and billing, both of which drive down costs when handled correctly. Using eQuality CallMiner, companies are able to free-up staff from time-consuming manual analysis by automating the review of large volumes of recorded customer interactions and categorising them based on content or pre-determined criteria.</p>
<p>Specifications and Availability
eQuality CallMiner integrates with Witness Systems’ eQuality Balance and eQuality ContactStore customer interaction recording solutions, enabling users to further maximise their investment in the software. The speech analytics solution operates on industry-standard Intel servers and SQL databases.</p>
<p>For More Information:
Alba Oni
Witness Systems
(02) 8907 0320
aoni@witness.com</p>
<p>David Matthews
Porter Novelli
(02) 9463 7600
dmatthews@porternovelli.com.au</p>
<p>About Witness Systems
Witness Systems (NASDAQ: WITS) provides the contact centre industry’s first integrated performance optimisation software suite to help global enterprises capture customer intelligence and optimise workforce performance. The browser-based eQuality® software is comprised of compliance, high-volume and business-driven recording solutions for customer contact centres and IP telephony, as well as performance analysis and e-learning applications. The closed-loop suite enables companies to capture and retrieve, learn and train, and report and analyse customer interactions and back office transactions to develop staff, generate revenue, reduce costs, and achieve greater customer retention and loyalty. An integrated business consulting, implementation and training methodology provides services to support an effective, rapid deployment of eQuality that enables organisations to maximise their return on investment. For additional information about Witness Systems and its eQuality software suite, visit www.witness.com.</p>
<p>(1) Footnote: Source: Forrester, “Market Overview: Speech Application Products,” March 23, 2004</p>
<p>Cautionary Note Regarding Forward-looking Statements: Information in this release that involves Witness Systems’ expectations, plans, intentions or strategies regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. They are identified by words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements are based upon information available to Witness Systems as of the date of this release, and the company assumes no obligation to update any such forward-looking statement. Forward-looking statements believed true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations. Some of the factors that could cause actual future results to differ materially from current expectations include fluctuations in customer demand and the timing of orders; the company’s ability to manage its growth; the risk of new product introductions and customer acceptance of new products; the rapid technological change which characterises the company’s markets; the risks associated with international sales as the company expands its markets, including the risks associated with foreign currency fluctuations; the ability of the company to complete and integrate successfully any acquisitions or investments it may make; and the ability of the company to compete successfully in the future, as well as other risks identified under the caption “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2003, and any other reports filed from time to time with the Securities and Exchange Commission.</p>
<p>Witness, eQuality and the Witness logo are United States registered trademarks of Witness Systems, Inc., protected by laws of the U.S. and other countries. All other trademarks mentioned in this document are the property of their respective owners.</p>
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