Wednesday, December 16, 2009

IVR System Development: Forecast for 2010

2009 is drawing to a close. What will 2010 bring for IVR application development? Certainly IVR applications will continue to grow and evolve with time. I believe that many of the trends I’ve discussed in my IVR system blog will continue to progress, enhancing IVR usability and improving call center processes.  

Here are some of my specific predictions for IVR system development in 2010:

1) Voice biometrics: In a recent blog I addressed the move towards voice biometric security. Companies that rely on passwords and security questions will begin to be seen as less credible than those implementing voice biometric security in their IVR application. Especially for financial and healthcare institutions, voice biometrics will become the norm for IVR application security. According to Opus Research, the voice biometric market for IVR applications is projected to reach $800 million in revenue by 2011. Read my recent blog on voice biometrics.

2) IVR hosting: 2010 will see the continued move towards hosted solutions. Hosted solutions are available from many vendors for the most advanced speech technologies. Companies will take advantage of low costs for fast-track enhancements of their IVR systems with the latest technologies. On-premise solutions will always be used in some call centers, but their market share is likely to decrease in coming years. Read my past IVR blog for more on hosted vs. on-premise IVR application development.

3) Multi-channel IVR integration: IVR used to be a silo contact channel, much like other channels. In 2010, the shift towards integrating support channels for more efficient interaction and enhanced customer experience will increasingly extend to IVR as well. IVR will become a part of the integration of support channels, benefiting from and contributing to a central data repository of all customer interactions. Read my past blog for more information on multi-channel synchronization.

4) Self-service IVR applications with voice recognition: Touchtone menu options are increasingly perceived as tedious, and yet in past companies have not always implemented speech recognition. As the technology behind voice recognition for IVR systems has matured, more and more companies will capitalize on it and move towards user-friendly self-service IVR applications with speech recognition.

5) Increased budget for IVR system development: The economic downturn made companies hesitant to invest in technology, even when updated IVR technology could reduce operational costs and enhance customer satisfaction. In 2009, budget constraints didn’t allow for the implementation of such new ideas. Now, as economic conditions are more conducive to long-term investments, companies across the board will be ready to invest more in their IVR application development.

Whatever the trends are, it’s important to always perform ROI analysis and ensure your IVR system will be efficient and enable you to reach your business goals. Contact Crimsonet if you have any questions regarding the efficiency of your IVR system.

And of course, wishing you a happy holiday season and a prosperous New Year!