Voice authentication solutions are becoming increasingly popular in contact centers around the country. While they are generally used for security purposes, voice authentication systems can help contact centers cut costs considerably in the long run. In the following paragraphs, we’ll explain how contact centers can save significantly on operational expenditures.
How do Voice Authentication Systems Work?
Voice authentication systems in contact centers work by verifying the identity of a caller based on their unique voice characteristics. Initially, during the enrollment phase, a caller’s voice is recorded to create a voiceprint.
This involves the caller speaking specific phrases, which are analyzed for various characteristics like pitch and tone, and then converted into a digital voiceprint.
During subsequent calls, the system enters the verification phase, comparing the caller’s live voice sample with the stored voiceprint.
This involves analyzing various voice features to determine a match. If the live sample closely matches the stored voiceprint within a predefined threshold, the system authenticates the caller. In cases of uncertainty, additional security measures may be initiated.
The technology behind these systems often involves artificial intelligence and machine learning, which help refine the algorithms over time for better accuracy. However, these systems also raise concerns about privacy and data protection.
Contact centers using voice authentication must adhere to strict data protection laws and ensure the security and confidentiality of the voiceprints they store.
How Do Contact Centers Save Money with Voice Authentication Solutions
Voice authentication systems offer significant cost savings and productivity enhancements for contact centers, impacting various aspects of their operations.
Reduction in Average Handling Time (AHT)
One of the primary ways voice authentication systems save costs is by reducing the Average Handling Time (AHT) of calls. Traditionally, agents spend a significant portion of each call verifying the caller’s identity through security questions or PINs.
Voice authentication streamlines this process, identifying customers within seconds. This efficiency not only shortens call durations but also allows agents to focus more on resolving customer queries, enhancing overall productivity.
Improved First Call Resolution (FCR)
By quickly verifying a caller’s identity, voice authentication systems contribute to a higher first-call resolution rate. Agents have more time to understand and resolve customer issues in a single call, which is a key metric in assessing the effectiveness and efficiency of a contact center.
Higher FCR rates are associated with increased customer satisfaction and reduced costs associated with follow-up calls.
Reduction in Fraud-Related Costs
Voice authentication enhances security, reducing the risk of fraud which can be costly for contact centers.
By accurately verifying the identity of callers, these systems minimize the potential of fraudulent activities, saving costs that would otherwise be spent on fraud detection, investigation, and rectification.
Lower Training Costs
Training agents for stringent manual verification processes can be resource-intensive. Voice authentication systems simplify the process, requiring less intensive training on security protocols. This can lead to significant savings in training and development budgets.
Decreased Turnover and Improved Employee Satisfaction
Handling repetitive tasks like manual verification can be monotonous for agents, leading to higher turnover rates. By automating this part of the process, voice authentication systems can improve job satisfaction, indirectly reducing recruitment and training costs associated with high employee turnover.
Reduced Dependence on Physical Infrastructure
As voice authentication reduces the need for extensive manual verification, it allows more flexibility regarding remote work options. This can lead to reduced costs in physical infrastructure and associated overheads.
How to Choose a Voice Authentication Solution
Choosing a voice authentication solution for your contact center involves considering several key factors to ensure you select a system that aligns well with your specific needs and objectives.
The first step is to evaluate the accuracy of the system. A good voice authentication solution should have high accuracy in voice recognition to ensure reliable customer identification and minimize both false rejections and false accepts. Look for systems that use advanced algorithms and machine learning to adapt and improve over time.
Your next step is to consider just how easy the system is to integrate. Your chosen solution should seamlessly integrate with your existing contact center infrastructure and CRM systems.
This minimizes disruption during implementation and ensures that your agents can continue to provide high-quality service without significant changes to their workflow.
Security is another critical factor. The solution should comply with relevant data protection and privacy regulations. Ensure that it has robust security measures in place to safeguard sensitive customer data, particularly voiceprints, which are unique to each individual.
Lastly, you’ll want to consider the overall customer experience. The system should be user-friendly, not only for your agents but also for your customers. It should facilitate a smooth and efficient authentication process, contributing positively to overall customer satisfaction.
Cut Contact Center Costs with Pindrop
Used by some of the biggest names in the industry, Pindrop helps contact centers not only save on operational costs but also offers flexibility and scalability. Take the first step in building customer trust and improving contact center security with Pindrop. Request a demo today!