Covering Disruptive Technology Powering Business in The Digital Age

Authored By: Ravi Saraogi, Co-founder and President of Asia Pacific – Uniphore

Throughout the pandemic, one of the hardest-hit areas of business has been the contact centre. Starting with the sudden, wholesale shift from brick-and-mortar to a work-from-home model, contact centres and agents were faced with enormous challenges to maintaining operations, all while being inundated with calls, texts, chats, emails, and even video interactions. The result was far from stellar for most consumer brands, with many experiencing drops in customer satisfaction.

A year after the onset of the pandemic, many companies find themselves still stuck in neutral, unable to scale and transform their operations effectively. What they need is a roadmap to the future of customer service, where conversational Artificial Intelligence (AI) and automation transform the customer and agent experience, enable scalability to handle greater volume, create cost efficiencies, and drive outcomes that fulfill the core purpose of the contact centre.

The contact centre world is at a critical inflection point in its application of advanced AI technology. Companies and contact centres must begin implementing conversational AI and automation now or risk emerging from the pandemic weakened and unable to compete effectively.

This is more so relevant for a country like Malaysia that saw increased adoption of digital transformation during the pandemic. According to the e-Conomy SEA 2020 Report, Malaysia’s digital economy is expected to grow three times, reaching a total gross merchandise value (GMV) of RM125 billion by 2025 across key service industries like eCommerce, healthcare, technology etc. Therefore, new and disruptive technologies like AI present a massive opportunity for the customer experience industry to address the rapid pace of transformation.

A commitment to make these technologies a centrepiece of contact centre operations and bold steps to deploy conversational AI and automation will allow achieving strategic and transformational outcomes for the customer experience industry in Malaysia.

The Contact Centre Gets Elevated to Primary Revenue Channel

For decades, contact centres have tried to make the case for being an important revenue-generating function of the business instead of being viewed as simply another cost centre. While some contact centres successfully changed the company mindset in this respect, most did not get the recognition or the support from the business that a primary revenue driver deserves. Times have certainly changed. The pandemic dramatically shifted how customers engage with brands, thrusting the contact centre into the role of primary revenue driver.

According to Andrea Ayers, former president & CEO of Convergys Corporation, “The contact centre just became the biggest revenue centre for many companies. Going into the pandemic, most contact centres were focused on investments in areas such as the network to connect the customer to an agent. Now those contact centerers must shift their investment to AI and automation solutions if they want to leverage the opportunity to return to and sustain strong revenue growth”.

In fact, to emerge stronger from the pandemic, contact centres need to move beyond their traditional system of engagement to a system of intelligence that automates, personalises, and optimises every conversation for better customer and agent experiences. According to McKinsey & Company’s survey, The State of AI in 2020, “A small contingent of respondents coming from a variety of industries attribute 20% or more of their organisations’ earnings before interest and taxes (EBIT) to AI. These companies plan to invest even more in AI in response to the COVID-19 pandemic and its acceleration of all things digital”.

The best foundation for a system of intelligence is conversational automation (CA), which combines conversational AI, robotic process automation (RPA), and workflow automation in a conversation-centric platform.

With CA, contact centres can easily progress through the essential steps of deploying automation, from foundational to strategic to transformational, using cost savings from early projects to fund initiatives that deliver sustainable business value.

Starting with Foundational Automation

In the decade when the internet first took off, it was viewed primarily to automate repetitive tasks such as order entry instead of entering orders manually. Now, it is part of our everyday lives, delivering value in many ways that we never imagined possible in the early days. Likewise, companies getting started with conversational AI and automation can start by automating certain, lower-value interactions and customer journeys to improve scalability and agent efficiency while reducing contact centre costs. These types of early projects often involve automating self-service to reduce call volume and average handle time in the contact centre.

With the right CA platform, contact centres can achieve measurable and sustainable efficiency and cost savings without negatively impacting the customer experience. A CA platform understands customer sentiment and intent to drive higher self-service automation rates while passing the context from self-service to agents should customers need assistance. The platform reduces call handling times and creates a frictionless experience for customers and agents alike.

More importantly, a CA platform forms the operational backbone necessary for evolving and expanding automation beyond cost control. This capability is essential as contact centres cannot afford to stop at the first stage of automation. They must continue to apply AI-powered automation throughout the customer journey to achieve more strategic outcomes that drive revenue and customer satisfaction. The savings generated at the foundational level can be used to fund the next step on the roadmap.

Moving to Strategic Automation

The next step is to expand the use of AI and automation to achieve strategic business outcomes such as revenue, customer satisfaction and customer loyalty. This requires advanced, conversational AI that can understand the nuances of human language and make sense of intricate human speech patterns to improve the agent and customer experience. Using the operational backbone of a CA platform, contact centres can optimise every conversation by enabling agents to be more productive and empathetic while personalising the experience for customers. With a CA platform that can understand the customer’s real intent, emotions and implied needs, contact centres can deliver a more conversational experience to improve customer satisfaction and Net Promoter Score (NPS).

Achieving Transformational Automation

The first two phases of automation focused on automating activities and tasks that humans routinely perform within the contact centre. The third phase takes automation to a new level: handling things that humans cannot, such as predicting certain behaviours and patterns based on analysis of millions of calls, to drive the core purpose of contact centres, like driving revenue or reducing churn through improved customer experience. CA uses natural language processing (NLP) and conversational AI to analyse 100% of interactions across phone, email and text channels, extracting actionable insights on patterns, trends, topics and more. The applications and use cases for using post-interaction and real-time analysis to transform operations and drive business value include fraud detection in retail environments, prevention of overpayment of claims by healthcare payers, insight into reasons for customer churn in telecom, identification of claim denial patterns in insurance, improved sales effectiveness for banking, et al.

According to a Bain & Company report titled A New Dawn for Automation, “Companies that invested more in automation before the pandemic have weathered the crisis better than others.” According to the report these companies generated higher revenues and experienced fewer disruptions to the supply chain, workforce productivity, and demand. “It’s no longer primarily about lowering costs. Companies are increasingly deploying automation to strengthen business resilience, reduce risk and generate useful business insights more easily”.

Conversational AI, RPA, NLP and automation are changing the future of customer service—not because they are replacing agents, but because they enable them to deliver better experiences for both customers and agents. Using a CA platform to achieve transformative automation makes customer service more convenient, faster, responsive, and personal. It enables companies to gain business value in the form of greater revenue, higher customer satisfaction and increased loyalty.

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