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The ABCs of Interactive Voice Response (IVR)

The ABCs of Interactive Voice Response (IVR)

Interactive Voice Response (IVR) solutions have long been used by companies of all types and sizes to increase the efficiency of customer service personnel and reduce the cost of service delivery. But, now, IVR is proving to be one of the best complimentary technologies to CRM applications.

IVR is a phone-based software system that detects entries from a touch tone keypad, as well as live speech, during the course of a call. Callers can enter or speak their account numbers, order tracking numbers, or other identifying data to retrieve important information, which is delivered via pre-recorded text messages. More sophisticated IVR systems allow for processing and execution of simple transactions, such as funds transfers between bank accounts.

With an IVR system, customers have immediate, around-the-clock access to service – without the assistance of a live representative. Companies who use IVR as part of their overall CRM strategy can boost satisfaction by delivering faster, more convenient service to their clients, while dramatically reducing support-related expenses.

Some of the leading IVR vendors include Avaya, Nortel Networks, Genesys, InterVoice, and Cisco.

[Photo courtesy of cnbc.]