Interactive Voice Response application

IVR is a powerful tool which allows customers to interact with various systems in the organization

The main function of the Interactive Voice Response system (IVR) is to give customers access to the organization's information and knowledge base. Typically, an IVR is used to process inbound phone calls, provide recorded voice messages including information extracted from databases and the internet, as well as potentially route calls to either in-house service agents or transfer the caller to an outside extension.

Depending on the type of services and products provided by the organization, automatic IVR system can handle up to 80% of customer enquires without the need of agent's assistance. Typically, financial organizations have the greatest success with the deployment of IVR applications which process 60-80% of overall customer enquires. However, based on the industry and the position of the organization's customers in the automation life cycle, IVR system deployment could be both a unique customer satisfaction tool and a cost enabler. For instance, IVR is not useful for organizations that require individual customer service. Besides, if IVR is not linked to the organization's Customer Information System (CIS) for real time information updates its deployment may usually not be higher than 5%.

A successful IVR application has to satisfy customer needs. Therefore each organization, based on its customer profile, services and products, should determine how they wish to use this system. If the organization is not giving out personal information, is may use other options (for instance, Voice Mail, etc.) rather than deploy an IVR solution. Once the organization's management has decided which type of system is required to meet their business needs, the general design of the system should follow the same principals.

The positive features of IVR system include 7/24 access to information, real-time account data, and minimum waiting time for the customers. Besides, IVR application helps reduce data entry by Customer Information Service (CIS) agents when the call is forwarded from the IVR, providing that customer information such as customers account, phone number and transactions required can be transferred to a CIS agent.

IVR application structure should be uncomplicated so that customers can self direct themselves from one option to another without hanging up and redialing. Typically, the IVR menu structure should include 3 options per menu level with each level going down 3 sub menus.

In order to effectively design, develop, test and implement a new IVR application, the company management may refer to a specialized professional organization. When using an external IVR solution, it is important to be conscious that the customers may be unsatisfied with the IVR application. After the IVR system is implemented, it needs to be monitored and updated in order to ensure that both the design and performance indicators meet the organization's current customer needs.

The organization may use a set of metrics, benchmarks, and other indices of measurement to track the IVR system performance. The IVR implementation may be unsuccessful if the system performance data is not recognized, compared to benchmarks or similar tasks performed by Customer Information Service agents.

Good IVR application helps an organization to offload call volume, reduce system down time and customer queue times, and ultimately reduce costs and improve customer satisfaction.