Interactive voice response meaning Interactive voice response meaning
Interactive Voice Response (IVR) is a programmed telephone technology set to interact with callers. It has automated features that can reroute callers to the exact recipients. It is also capable of receiving touch-based or touch-tone keypad selection as well as voice command that enables the speaker to voice out any commands that can prompt the Interactive Voice Response or (IVR) to respond such as callback, fax tone, voice mail, and any other methods of contacting. Interactive Voice Response (IVR) is integrated with a database that allows callers to have access with the system and is efficient for the callers to choose menus without bothering an actual receptionist. IVR call center
Having an Interactive Voice Response (IVR) in an organization can make things easier. One thing to consider is the time-efficiency, wherein an organization can save up a lot of time without rerouting callers to any inappropriate recipients. Few selections are available for the caller to choose from, that will also avoid confusions in both parties – it results in a faster transaction. A time-efficient system that can help an organization productive and effective.
Harnessing the power of technology gives businesses more leverage in its industry. Getting the most advantages of having an Interactive Voice Response (IVR) is part of proven solutions for your business. Gaining access to modern A-grade facilities can be utilized for the betterment of your business’ ongoing and future ventures.
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What is a Knowledge Base? What is a knowledge base?
A knowledge base is a system of related information. Promoting the gathering, organization, and retrieval of data about a service or a product FAQS, tips, guidelines, and rules or standards in an organization. It can also support computer system information retrieval on various matters. These data are readily available - anytime & anywhere to provide employees and customers with easy access to the information.
With modern technology, there's almost a limitless availability of knowledge base information on the internet. Consumers demand not only effectiveness but efficiency, with just a point and a click, people can already know what's the benefit of a product, know the list of cool places to visit, even the steps on how to cook a perfect dinner. Additionally, a knowledge base can be used by companies to easily keep track of all work-related information about the employee. Knowledge based outsourcing
There is a need for users - both internal (ie. agents), and external (customers) to effortlessly access information. Both have the primary goal of data-sharing so that information is made readily available for satisfying user query. Businesses have improved over the years through better management and usage of a knowledge base system.
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What is a Customer Relationship Management (CRM)? What is a CRM?
Customer Relationship Management refers to the creation, implementation, and evaluation of strategies in managing customer relationships. With a CRM, a business can deal with customer problems and complaints to increase customer satisfaction.
CRM is either a technology, a strategy, or a process, depending on how management views its purpose. Most often, companies integrate technology into a CRM process for a more efficient outcome. Creating a system to manage customer interactions can provide many benefits to a company.
CRM, which refers to technology, refers to the use of cloud storage, a computer system or application to monitor progress. CRM as strategy identifies the philosophy of the business regarding customer relationship, satisfaction, and interaction. CRM as a process may integrate the use of technology based on the company’s strategy or philosophy.
With the proper use of these three different CRM categories, the company can create a powerful tool to aid them in dealing with demanding customers. Most companies rely on a CRM to track customer engagement to their product or service. Outsourcing CRM
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What is Business Process Outsourcing (BPO)? What is Business Process Outsourcing?
Business Process Outsourcing (BPO) is the engagement of services from a third-party provider. BPO uses various technology-enabled services to hasten the delivery of services. The business activities could be back-office such as, but not limited to, payroll, accounting, human resources, or front office jobs like customer service, sales, and marketing, etc. In the case of content providers, these business activities could mean hiring writers, remote editors, or virtual assistants.
BPO speeds up processes and enhances efficiency. Companies that outsource some of their business activities use their time on core services and competencies. With this shift in focus, companies improve their current processes that may result in improved customer satisfaction. BPO helps companies divert their resources to more critical business strategies. Often, companies find it impractical to hire a full-time position in-house because of the cost associated with doing so. How does Business Process Outsourcing work?
When a business engages an external specialist to manage and operate some of its internal processes, it's referred to as business process outsourcing. Such ‘processes’ include customer service, accounting and finance, or sales. It is different from hiring an agency to do specific tasks, as the outsourcing provider (BPO) is more concerned with the ongoing production of labour-intensive tasks, instead of the higher-level strategy and guidance.
Now, business process outsourcing has broadened and is more akin to staff augmentation, or staff leasing. What are the benefits of business process outsourcing?
There are many benefits to outsourcing, as well as some downsides and risks. The common benefits include: Cost savings: significant savings of up to 70%, leveraging the lower global salaries Global market: access to a bigger employment pool of talent Global presence: having operational across the globe increases trade opportunities Flexible workforce: reduces internal local labour and employment compliance obligations Leverage skill: leveraging the skills of other specialist companies Focus: enables the client company to focus on their core functions
Business process outsourcing examples
The business process outsourcing sector is a vast industry, generating over $200bn annually, and employing many millions of people worldwide. Some examples include: Big enterprise
Facebook and Uber outsource many of their operational functions, including content moderation for Facebook, and customer service for Uber Medium-size businesses
A medium business with 50-500 staff might outsource the labour-intensive accounting and finance functions to a team in the Philippines. Small business and entrepreneur
It is common for small business owners to have a Virtual Assistant (VA) working for hem full time, remotely from the Philippines. What are the different types of BPO?
The type of business process outsourcing can be characterised by their specialisation, location, and size. Generalist or specialist BPOs
Business process outsourcing is in the human resources and professional services sector. However, their services extend across all industries. The majority of BPOs are generalist, in that they offer a full range of professional services, although some specialise in certain verticals (ie accounting, or animation). Location
Business process outsourcing typically operates form developing nations such as the Philippines, India, and Colombia. They typically have cheaper cost-of-living and bigger populations. Different locations offer different advantages. Size of BPO
The bigger BPOs employ more than 250,000 people. They are huge, global operations. Medium-sized BPOs range from 500-5,000 staff and offer a full range of services. The smaller BPOs might have 1-500 people. Functions of business process outsourcing
Collectively, business process outsourcing provides any kind of staffing solution. Common functions of BPO include: Finance and accounting: operational, technical and specialist functions Healthcare: various functions of the backend of the healthcare and health-insurance industries Creative and content: everything from post-production of Hollywood movies to newspaper and website content Tech, IT and development: network management, web and app development and maintenance Sales & customer support: ongoing sales and customer operational support and delivery Marketing: ongoing marketing, communication and branding activities Talent and HR: externalising the management of company HR, recruitment and compliance Administration: general business administration and operational activities Business Process Outsourcing (BPO) services
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