Speech Analytics & Revenue

It is common knowledge that every business wants to make more money, and that companies are always looking for new and inventive ways to increase revenue. But instead of chasing after unknown channels; a great way of finding more revenue is to look at how it is currently being created and then figuring out how to improve on it.

You are already very familiar with how that particular stream of activity works, so you already know its strengths and weaknesses. With this information on hand, you can determine how to grow the parts that are working and minimize the flaws that are dragging your system down.

One of our customers here at Vaspian recently did this with processing fees. They had been charging their customers a small fee for processing their orders, and it added up to serious money. However, the sum of processing fees was not matching the numbers of orders that were being taken. By recording all of the phone calls that handled the orders and doing a search for the phrase “processing fee”, the company was able to quickly find out which employees were actually asking for the fee and which were not. They could then follow up with these folks and get them to improve.

Best of all, none of this required any great effort on the business’ part. The call records were collected automatically and the only effort was typing in the actual search. Plus, everything happened almost immediately – the company could see what was happening on the floor with their employees as it was actually happening, as well as through the historical voice recordings.

Over time, the use of this speech analytics tool helped the company to significantly improve their processing fee collections and add significant revenue to their business. The total effort consisted in doing the one search and then following through with their employees. In a short time, they were realizing the rewards of their effort. Just as importantly, they could easily monitor the ongoing work in real-time and ensure that the right actions continued.

Thanks to advances in technology and the ability to host such capabilities on Vaspian’s cloud-based phone system, businesses small and large can record all of their voice transactions and then perform sophisticated searches in minutes. And since almost every business does a ton of their business over the phone, the ability to analyze all of this traffic in real-time is game changing.

If your business is interested in learning more about how you can analyze your company’s voice data using

Vaspian’s speech analytics tools

, please call our Buffalo office at 1-855-827-7426.

The point is not to make the subject sound more important than it is. The point is to make it easier to use. When a business understands the basics, it can make better decisions without getting pulled into noise, jargon, or a feature list that does not solve the real problem.

What this means for the business

The practical value is communication. When the phone system is clear, customers and employees can reach the right person without extra effort. That sounds simple because it is, but it is also where many businesses lose time. The problem is rarely one dramatic failure. It is usually missed calls, repeated messages, and small delays showing up often enough that people start treating it as normal.

What to notice

It is common knowledge that every business wants to make more money, and that companies are always looking for new and inventive ways to increase revenue. But instead of chasing after unknown channels; a great way of finding more revenue is to look at how it is currently being created and then figuring out how to improve on it.

You are already very familiar with how that particular stream of activity works, so you already know its strengths and weaknesses. With this information on hand, you can determine how to grow the parts that are working and minimize the flaws that are dragging your system down.

One of our customers here at Vaspian recently did this with processing fees. They had been charging their customers a small fee for processing their orders, and it added up to serious money. However, the sum of processing fees was not matching the numbers of orders that were being taken. By recording all of the phone calls that handled the orders and doing a search for the phrase “processing fee”, the company was able to quickly find out which employees were actually asking for the fee and which were not. They could then follow up with these folks and get them to improve.

Best of all, none of this required any great effort on the business’ part. The

call records were collected automatically and the only effort was typing in the actual search. Plus, everything happened almost immediately – the company could see what was happening on the floor with their employees as it was actually happening, as well as through the historical voice recordings.

Over time, the use of this speech analytics tool

helped the company to significantly improve their processing fee collections and add significant revenue to their business. The total effort consisted in doing the one search and then following through with their employees. In a short time, they were realizing the rewards of their effort. Just as importantly, they could easily monitor the ongoing work in real-time and ensure that the right actions continued.

Thanks to advances in technology and the ability to host such capabilities on Vaspian’s cloud-based phone system, businesses small and large can record all of their voice transactions and then perform sophisticated searches in minutes. And since almost every business does a ton of their business over the phone, the ability to analyze all of this traffic in real-time is game changing.

If your business is interested in learning more about how you can analyze your company’s voice data using

Vaspian’s speech analytics tools

, please call our Buffalo office at 1-855-827-7426.

This is why the details matter. A business does not need more complexity just to look prepared. It needs a setup that matches how people actually work, how customers actually ask for help, and how the team responds on an ordinary day. Good systems tend to feel quiet. Bad systems make themselves known.

The best version of this is not loud. It is a process that is easy to explain and easy to use. People should not need to understand every setting behind the scenes to get the benefit. They should only notice that the next step is obvious and the experience feels less difficult than it used to.

For small and growing businesses, that kind of consistency matters. A weak process can hide for a while because people compensate for it. Someone remembers the workaround, someone checks twice, someone answers the message that should have been routed correctly the first time. Eventually those workarounds become the work.

FAQ

Here are a few common questions about speech analytics & revenue and what it means in day-to-day business.

Why does speech analytics & revenue matter for a business?

It matters because it affects how customers and employees move through everyday work. When the process is clear, people spend less time dealing with missed calls, repeated messages, and small delays.

What is the most important thing to get right?

The most important thing is making the next step clear. A business does not need a complicated setup if a simpler one helps people reach the right person without extra effort.

How do you know when the current approach is not working?

You usually see it in repeated friction: delays, confusion, missed handoffs, or people creating workarounds. Those are signs the process needs attention.

Does every business need the same solution?

No. The right setup depends on how the business works, who needs to respond, and what customers expect when they reach out.

Where should a business start?

Start with the places where people already get stuck. Fixing the obvious friction first is usually more useful than chasing a long list of features.