Top 5 Industries that Benefit from IVR Systems

What is an IVR system? 

To engage callers and provide them with the opportunity to supply and access information without a live agent, interactive voice response, or IVR, is an automated telephone system that combines pre-recorded messages or text-to-speech technology.

Additionally, it serves as a solution for users and businesses to interact on the platform exactly like they would with their peers.  80% of businesses work to make their contact centres better in order to give customers a wonderful experience. 

The difficulty here is to direct the client towards communication methods that are affordable. Businesses can achieve the ideal balance between client pleasure and cost-optimization by using Interactive Voice Responses (IVRs).

IVR Systems can be quickly deployed and can be scaled easily, enabling organisations of all sizes to use their staff members' time and resources efficiently. 

So, whether big businesses or small enterprises, let us take a look at the top 5 industries  that benefit the most with IVR solutions and continue gaining from it.

‍Use cases

‍IVR in Banking

1. A voice-driven auto-attendant routes phone calls to the appropriate extension based on the caller's selections. By sending a welcome message to the caller and directing the call to the appropriate party, they assist or replace human operators. ACDs, or automatic call distributors, are just one of the call management tools that auto-attendants can be integrated with.

For example: IVR: ‘Thank you for calling XYZ bank.’

Followed by Brand tagline, Jingle, etc.

IVR: ‘Please wait while your call is being transferred to a live agent.’

2. Branch locator: An IVR system can be used by banks to provide callers with information about branches and business hours. Having a live agent take a call is almost 15x more expensive than using an IVR. IVR interactions often cost less than agent interactions, which would cost anywhere from Rs 16,000-40,000. However, reasonable solutions like Alohaa provide companies with IVR solutions that are affordable and can raise your businesses call efficiency by almost 30%.
3. Call recording: Allows the caller to access banking information while allowing the phone system to collect caller data. 

‍IVR  in Travel & Tourism

‍International Calling and Upselling‍

• You can direct incoming and outgoing calls to more than 170 nations using your IVR
• Follow up with emails to confirm the planned trips
• Obtain customer feedback and look for more upselling opportunities, such as adding services or features

Call route to groups, queues, users, voicemail, or external numbers‍

In order to deliver top-notch service, it can be the ideal IVR in the tourism and hospitality sectors. We have the following features and settings available: 

• Automatic Call 
• Call recording
• Call Tracking
• Call Data Report

Customise greetings/caller tune

One way to incorporate customization into your plan to enhance contact centre customer experience (CX) metrics is by creating customised welcome messages and menus for your IVR system. This will let your company create and provide a customised experience for your callers.

With COVID-19 and the rise in digital behaviours defining the trend, personalization is more crucial than ever. McKinsey states that "personalization increases performance and improves customer results." Personalization increases revenue for expanding businesses by 40% compared to slower-growing rivals. 

‍Healthcare

Callers can easily access information using an IVR system. IVR systems can be used by hospitals and clinics to give callers access to their test results. The IVRS can manage this data with ease and protect their privacy.

Today, hospitals are racing to install IVRS/IVR technology throughout their facilities and integrate it into every aspect of their operations. The following features are included in the IVRS functionality used in hospitals:

1. Appointment Scheduling: Healthcare providers use IVR systems to schedule appointments with patients. Patients can call in and use the IVR to select an appointment time and date that works best for them. This eliminates the need for a human receptionist to manage appointments manually.

2.  Refills/Upselling: IVR systems can also be used to refill prescriptions. Outbound calls can be made to refill the prescriptions and for upselling.

3. Test Results: Healthcare providers can use IVR systems to deliver test results to patients. The system can call the patient and provide them with the test results, along with any necessary instructions or follow-up care.

4. Health Information: Healthcare providers can use IVR systems to provide patients with health information. Patients can call in and use the IVR to learn about symptoms, treatment options, or preventive care.

Overall, IVR systems can improve patient access to care, reduce wait times, and increase operational efficiency for healthcare providers.

Finance 

The finance industry also uses IVR (Interactive Voice Response) technology for outbound calls, where the system initiates the call to the customer. Here are some examples of how IVR is used for outbound calls in the finance industry:

1. Payment reminders: IVR systems can be used to remind customers of upcoming payments or bills that are due. The IVR system can call the customer and provide them with a message that includes the payment amount, due date, and payment options.

2. Fraud prevention: IVR systems can be used to prevent fraud by calling customers to verify transactions or account information. The IVR system can ask the customer to confirm recent transactions or provide a security code to authenticate their identity.

3. Surveys: IVR systems can be used to conduct customer satisfaction surveys. The IVR system can call customers and ask them a series of questions to gauge their satisfaction with the service they have received.

4. Marketing campaigns: IVR systems can be used for marketing campaigns such as promoting new products or services. The IVR system can call customers and play a pre-recorded message that provides information about the new product or service.

5. Appointment reminders: IVR systems can be used to remind customers of appointments they have scheduled with the bank or financial institution. The IVR system can call the customer and provide them with a message that includes the date, time, and location of the appointment.

Overall, IVR technology is a valuable tool for outbound calls in the finance industry as it allows banks and financial institutions to efficiently communicate with their customers while providing personalised and timely information.

Education

The education industry uses IVR (Interactive Voice Response) technology to reach out to students, parents, and other stakeholders. Here are some examples of how IVR is used =in the education or ed-tech industry:

1. Student recruitment: IVR systems can be used to recruit prospective students by calling them and providing them with information about the institution, including program offerings, application requirements, and admission deadlines.

2. Enrollment and registration: IVR systems can be used to assist students in the enrollment and registration process. The IVR system can call students and guide them through the process of enrolling in courses, selecting schedules, and paying tuition fees.

3. Attendance and grade reporting: IVR systems can be used to notify parents of their child's attendance and academic progress. The IVR system can call parents and provide them with updates on their child's attendance, grades, and overall performance.

4. Emergency notifications: IVR systems can be used to send emergency notifications to students, parents, and staff. The IVR system can call individuals and provide them with important information related to emergencies, such as school closures, weather-related delays, or lockdowns.

5. Surveys and feedback: IVR systems can be used to collect feedback from students and parents about the institution's programs and services. The IVR system can call individuals and ask them a series of questions to gauge their satisfaction with the education provided.

Overall, IVR technology is a valuable tool for outbound calls in the education industry as it allows institutions to efficiently communicate with students, parents, and staff while providing personalised and timely information.

IVR services offer businesses and organizations a cost-effective and efficient way to handle customer inquiries, improve customer experience, and collect valuable data for analysis and decision-making. Connect with us on <EMAIL> to understand how your company can benefit from Alohaa's IVR services and book your free demo today!