Automation has become the key to driving efficient business. We are now familiar with pre-recordings and menu-driven calls that redirect our calls to the right customer care agent. The automated menu-driven service is the IVR. In this competitive market where understanding and solving customer queries is a priority, IVR solutions can help save time. 

According to a recent report and prediction, by 2025, the Interactive Voice Response (IVR) solution market will achieve 6.11 billion USD, projecting a compound annual growth rate (CAGR) of 6.31 percent from 2020-2025. This article will comprehensively explain IVR solutions and IVR services costing for cloud contact centers.

  What is an Interactive Voice Response (IVR) Solution?

It is a technology in the automated computer-operated phone system that enables callers to interact with contact centers' telephony system. It helps businesses automate call-receiving and calling operations. With IVR solutions, cloud contact centers can drive customers/callers to press a specific number to determine, segment, and lead customers/callers to the most appropriate customer care agent. IVR solutions do not replace live customer care executives but can significantly improve customer satisfaction and enable customer care agents to handle inbound calls seamlessly. As the number of smartphone users increases, the use of IVR has also increased. With IVR solutions, companies can increase the inbound calls, enabling businesses to identify potential leads.  

5 Benefits of Choosing IVR Solutions

Let us closely look at some IVR solutions' benefits that every cloud contact center should consider.

1. Enhancing customer's calling journey

Traditional IVR systems were poor, and the management of such services was also not up to the mark. It often led to a bad reputation for the company. But with a modern cloud contact center and its latest IVR solution, IVRs can provide a clear message that acts as a self-service tool to redirect customers to the most appropriate customer care agent based on skills and ratings.

  2. Cost-effective solution

As we all know, modern cloud contact centers are known for their cost-effective customer contact operations. The IVR services costing adds a cherry to the cake. In comparison to live chats, manual inbound calls, and other telephony customer services, IVR services costing is significantly less. It makes IVR a widely-known telephony tool. Cloud providers like Knowlarity can deliver an IVR solution at a charge of less than 1 USD per call. 

  3. Post-campaign marketing tool

Once the brand marketing is shared using the toll-free number, the IVR solution takes care of the prospective clients from thereon. IVR is an excellent tool for collecting data on customers' likes, dislikes, demographics, interests, geolocations, etc. Also, the call recording feature helps contact centers understand customer needs and revise accordingly by listening to the recordings.

  4. Intelligent routing of calls

Businesses can link modern IVR solutions to Customer Relationship Management (CRM) tools. Brands use IVR to cater to customers with a menu-driven inbound calling service. If customers/callers receive an executive who is available but not skilled enough to solve a particular problem, it can waste time for both. The IVR system can route the customers/callers to the most appropriate customer care executive based on the query, options that the customer chooses (from the IVR), and skills an executive has. reducing unnecessary call time and enhancing the call center's productivity,

  5. Improves the overall productivity of the contact center and the agent

With 24x7 support and concurrent calls, the customer care executive will receive customer calls one after another as per their expertise and skills. IVR solutions eliminate the practice of manual calling and thus increase agents' productivity. With the call routing feature, IVRs can route the calls to the available and most appropriate department and agent. Such a process also improves the overall productivity of the contact center.

  Conclusion

We hope this comprehension has catered to the top five benefits brands and companies can enjoy after choosing an IVR solution. The IVR services costing is also low compared to other contact center telephony solutions. When looking for an IVR solution provider, try Knowlarity. It is the leading contact center solution provider offering high-end tools and solutions at an affordable cost.