By : Alexey Popov, Founder and CEO, Spitch.
A recent report by Forrester, one of the world’s premiere technology research companies, has recognized Spitch as a Growth Stage company. The report, New Tech: AI-Fuelled Speech Analytics Solutions, provides a timely acknowledgement of the growth of AI in speech analytics, as well as highlighting the strength of Spitch’s position in the market.
Alexey Popov, Spitch Founder and CEO, is delighted to have been included in the report. “We are really proud of the attention given by Forrester Research to the new trends of voice technologies – and above all to our company” says Popov. “We have always believed that AI-based voice technologies are a technology of the future. This prestigious report provides real validation, which will encourage us in our commitment to our clients.”
Forrester’s research – which includes Spitch as one of 21 vendors dominating the speech analytics tools market – makes interesting reading for any business who relies on voice platforms. So, what were their key findings?
The key takeaways: improving sales, service, marketing – and the customer experience
The report emphasised that, regardless of the rise of digital channels, voice continues to be a critical platform for customer engagement. But, most interestingly, the value of voice channels has been boosted significantly by new technologies designed to increase revenue, improve analytics and enhance the customer experience.
Ultimately, the report’s key takeaway for businesses is that speech technology can ‘improve sales, service and marketing performance’. With over 50 years’ experience in Spoken Language Technologies (SLT), this is something the Spitch research team can attest to. Throughout our history, we’ve seen clearly how automating key areas of customer service can create a seamless and enjoyable customer experience.
And businesses looking to harness the power of voice technology will find themselves in good company. Forrester’s report also references how tech giants like Amazon, Google and IBM are investing in new services to support speech analytics, showing just how valuable this sector really is. This is a vibrant and exciting area for growth, and the reach of voice recognition products in homes across the world means consumers are becoming increasingly comfortable carrying out everyday tasks using only their voices. Voice being used as a form of identification will be a natural next step.
But customers aren’t the only ones set to benefit.
How speech technologies can revolutionise business processes
As the reports shows, SLTs are also providing revolutionary solutions to a range of key business concerns, from efficiency to security. On an analytics level, businesses can embrace voice technologies to enjoy features like automatic protocolling of conversations. This means all records will be fully searchable by phrase and keyword – an instant win for any analytics department.
And speech technologies are also breaking new ground when it comes to security. This is a huge concern for consumers and businesses alike, particularly in sectors like finance and healthcare, but there are some exciting solutions available. For example, the days of asking customers for their mother’s maiden name will soon be a distant memory. Technology like automated speaker identification is changing the game, with customer satisfaction rates up to 99%.
This is especially great news for finance companies, who know fraudsters never rest on their laurels when it comes to developing new approaches. Fortunately, neither do we.
Spitch’s commitment to continuing growth
Spitch’s product range offers a full stack of mutually complementary and modular solutions for businesses looking to invest in speech technologies. Alexey Popov notes, “Implementing the entire range of speech technology solutions makes business sense to our customers as it helps boost their customer experience, achieve even greater cost-savings and increase revenues.” He goes on to explain, “we can see a clear trend: having implemented one module of voice-driven solutions, our clients quickly return to us to add extra modules”.
Spitch’s investment in R&D and research will continue apace to ensure we’re always able to offer cutting-edge innovation wherever we operate. Our cooperation with the University of Zurich means we can continue to tap into the most up-to-date academic research findings, while also providing our clients with the knowledge that will allow them to transform how they operate and execute their customer service strategies.
Being driven by voice is a founding mission statement of Spitch – and, as this report makes clear, businesses are set to follow suit. Whether it’s preventing fraud or creating a seamless customer experience, AI-fueled speech analytic solutions will dominate communication technologies – and Spitch will remain at the forefront of this growth.
