Speech analytics software was first introduced in early 2000s. Today, its popularity has grown exponentially; and so has the adoption level.
From a nonexistent market size in the year 2000 to a USD 1.5 billion size in 2020, speech analytics adoption is expected to grow at a CAGR of 20% over the next 5 years.
From being a good-to-have technology to becoming a must-have part of your call center, speech analytics has travelled a long journey.
For contact centers looking to improve their calling efficiency, agent performance, compliance adherence, and above all, the customer experience; implementing a speech analytics software is a must have.
What is speech analytics?
Speech analytics refers to analyzing voice conversations to derive meaningful intelligence from call data.
The starting point of the technology involves converting voice data into text data, known as transcripts.
These transcripts are then turned into searchable, structured data that businesses can use to gain customer insights.
Speech analytics solutions ensure all the conversations in a call center get checked for quality, in a perfectly automated way (as against the existing methodology of randomly listening to the call for quality checks).
All-in-all, speech analytics is a powerful tool that can help deliver a superior customer experience by deriving intelligence out of your customer calls and addressing quality issues proactively.
After all, 36% consumers find a non-helpful agent as the most frustrating part of their customer service experience.
Top SaaS based speech analytics software for call centers
With hundreds of options available in the market, you need to boil down your choices by looking at certain performance parameters before you select a speech analytics solution.
The major ones include: - speech-to-text accuracy - ease of adoption - onboarding & ongoing support - pricing and RoI - integrations (with your existing applications)
Speech analytics software for call centers is now available in a subscription-based model, also known as SaaS (software as a service). That makes the software not just affordable but also easy to start or cancel the subscription.
Now that you know what to look for, let's discuss the 7 best SaaS-based speech analytics software for call centers.
We have also highlighted the strengths and improvements of each software, basis their G2 reviews.
1. Enthu.AI
Pricing: Custom (based on number of agents)
Enthu.ai is a SaaS-based speech analytics platform that automates the ability to listen to every customer interaction at a call center and turn them into actionable insights, without deploying any additional manpower.
Those actionable insights help drive agents' performance by identifying the KPIs and behaviors impacting call outcomes.
With speech to text accuracy better than Amazon, Google & IBM Watson, it supports integration with popular VoIP and call center software vendors to ensure easy flow of data.
With no commitment required for a minimum number of users, Enthy.AI aims to make speech analytics viable and affordable at scale for call centers.
Strengths: Ease of use, great support, friendly pricing
Improvement areas: Data reporting
2. Observe.AI
Pricing: Starts at $75 per agent per month
Observe.AI gives full visibility into customers' conversations, allowing you to evaluate agents and coach them.
Specifically designed for contact centers, it allows them to build trust with accurate data and fix broken processes with their SaaS based software.
Strengths: Impeccable support, easy to onboard, intuitive
Improvement areas: Requires minimum agent commitment, better transcription accuracy
3. CallMiner
Pricing: Custom
CallMiner is the pioneer of speech analytics software that leverages AI and machine learning to power its solutions.
With its years of industry leadership, CallMiner delivers highly scalable and effective speech analytics solutions.
Founded in 2002, it tracks, transcribes, and analyzes every call with your customers and provides you actionable insights to improve your contact center performance.
Strengths: Enterprise level analytics & reporting, great support
Improvement areas: Complex to use, priced on the higher side
4. CallHippo Coach
Pricing: Custom (based on number of agents)
CallHippo Coach seamlessly integrates with the CallHippo platform, one of the leading providers of VoIP for call centers.
The good part is that CallHippo Coach also integrates with other dialers and VoIP providers, so you don’t need get tied up to their VoIP platform. That’s comes in very handy during onboarding as it offers a seamless process.
Strengths: Good support, intuitive, bundled pricing with VoIP platform
Improvement areas: Better reporting
5. CallFinder
Pricing: Custom (Starts at USD 600, depending on number of monthly hours of recording)
Call Finder’s SaaS-based speech analytics software offers robust functionalities for day to day call center usage.
For starters, it gives you complete visibility into agent-customer interactions, allowing you to analyze each call and take actions to optimize your contact center performance.
Call Finder is one of the few solutions that charges you for hours of transcriptions instead of the number of agents.
Strengths: Reporting, data filtering
Improvement areas: Not intuitive, needs effort to onboard, limited integrations
6. Voyc
Pricing: Custom (based on number of users)
Voyc is a web-based speech analytics platform that aims to help companies have the evidence-based resources to improve their agents' call quality.
The system also offers sentiment analysis whereby a call center can identify keywords and topics that should accompany certain calls and run a quality check on it. It is done based on the frequency of use by agents and the tone of voice.
Just like other platforms, Voyc's speech analytics solution helps achieve expert insights way faster than the manual qualitative research process.
No customer reviews available on G2.
7. Execvision
Pricing: Custom (per agent basis)
Execvision's speech analytics platform aims to drive human behavior change based on real insights.
Execvision helps businesses act upon these data to further improve agents’ productivity and decision-making skills.
It has a Performance Dashboard where you can track, measure, and drive performance improvements. You can even customize the valuable insight of each view for every unique role.
Besides, its intelligence platform can easily integrate with most dialer, web conferencing, and CRM solutions.
Strengths: Integrations, data granularity, lots of features
Improvement areas: Data sync issues resulting in delayed call logs
8. VoiceOps
Pricing: Custom
VoiceOps' speech analytics platform offers the highest level of data quality and accuracy, designed to raise your call centers performance in weeks.
In other words, you can deliver more coaching in less time and target the right set of skills and behavior to improve close rates.
It offers an AI-driven coaching platform whereby you can analyze each call and monitor your agents' performance. It also ensures adherence to key behaviors among your reps.
Strengths: Accuracy, data granularity
Improvement areas: Onboarding support
Wrap up
Delivering a great customer experience is a top objective for business leaders today. After all, 61% consumers stop transacting with a business after a poor experience.
Speech analytics gives you a clear view of what customers actually think about the brand and the overall experience they get.
If you are still doing random sampling during a quality assurance session, you are relying on luck.
Adopt a speech analytics software solution and automate your QA process across 100% of the calls.
Maria is a Content Writer with keen interest in eCommerce and Internet Marketing. She is a Communications graduate and understands what it takes to write persuasive copy and blog posts. Outside of work, you can find her mini-blogging about her life on social media.
