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Top 12 - AI Speech Analytics Software to explore in 2024

In recent years, AI speech analytics software has emerged as a popular solution for businesses who want to leverage large quantities of voice data for strategic insights. In this article, we define speech analytics and take a close look at how it can be used.

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Top 12 - AI Speech Analytics Software to explore in 2024

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Speech Analytics SoftwareFeaturesPricing
Empower by RingoverSentiment analysis, personalized recommendations for agents, key moments, automatic transcription and translation$69 per usermonth
CallminerPersonalized training program for agents, omnichannel analysis, speaker identificationPrice on request only
Gong AISpecific to revenue teams, proprietary AI models, trend identificationPrice on request only
Nice CXOneOffers a large platform, including workforce management, AI automations, reportingThere are different services available under the CXOne umbrella, with plans ranging from $71 to $209 per usermonth
Verint Speech AnalyticsIdentify trends, sentiment analysis, visual maps of calls, metricsPrice on request only
VoicebaseCall flow analysis, discover call trends, call categories, redact sensitive data from audio and transcriptsPlans begin at $250 per month
TethrKPI dashboard, renders conversations searchable, multichannel communication analysisPrice on request only
SaleskenScore sales pitches, telephony, call recordingPrice on request only
InvocaSentiment analysis, call scoring, isolate recurring topicsPrice on request only
Enthu.ai100% of calls analyzed, call filtering, custom notifications$59 per usermonth, or a custom price of enterprise-sized companies
Qualtrics Customer FrontlinesBenchmarks available, omnichannel analytics, automationsPrice on request
ConvinCall scoring, behavior analysis during calls, transcriptionPrice on request

1. Empower by Ringover

Empower by Ringover is a sales enablement tool powered by artificial intelligence. This software boosts productivity, enhances customer experience, supports salespeople in business and professional development, and streamlines coaching and training processes for companies.

Empower integrates easily with VoIP phones like Ringover, identifying the topics discussed, automatically transcribing, and summarizing calls and providing for in-depth analysis–in French, Spanish, and English. With this technology, you'll finally be able to evaluate 100% of the calls carried out by your sales representatives, customer service agents, and/or recruiters.

There's even an advanced search function which allows you to look for specific terms in customer conversations–plus, you can tag calls for future reference, making it easier to identify topics, opportunities, and trends.

Furthermore, Empower provides a robust sentiment analysis service that helps agents understand the customer's emotional state during calls at specific points. When it comes to coaching and training agents, each agent will have specialized and specific advice based on consistent and objective AI analysis. As a result, managers will be better able to identify agents who need support and agents who've developed best practices that should be disseminated across the team.

Empower by Ringover pricing

Empower costs $69 per user/month, which includes the added benefit of being able to integrate it with an IP telephony service like Ringover.

Free Trial: Empower

2. Callminer

Callminer

With Callminer, you'll be able to synthesize data from omnichannel communications with the intent of improving the customer experience. Some of the features Callminer includes are topic identification, sentiment analysis, and analytics.

Callminer pricing

Callminer's price is on request only, so you'll need to contact them to see if it could work for your budget.

3. Gong

Gong

Gong has been around since 2015, and is specifically built to support sales operations. As such, it's not appropriate for every business–it's only really suitable for businesses with a significant sales department and a proportionately significant budget.

Gong pricing

Gong doesn't list their pricing online, but you can expect it to be a significant investment. To learn more, you'll need to get in touch with their sales team.

4. Nice CXOne

CXOne Nice

As the name suggests, Nice CXOne focuses on customer experience (CX) via customer communication management. This software is able to detect silences in the conversation, in addition to spotting key moments. Like many other speech analytics software, it uses AI-based technology including natural language processing (NLP).

Nice CXOne pricing

To access the artificial intelligence capabilities of these tools, you'll need to subscribe to the Complete Suite package, which is in excess of $200 per month.

5. Verint Speech Analytics

Verint

This tool is meant for contact centers. Similar to Empower, it focuses on extracting data from transcriptions of phone calls. Once the analysis has been completed, Verint is able to surface information regarding what's been discussed, overarching trends across multiple interactions, and more.

Verint Speech Analytics pricing

Verint is price upon request only, so you'll need to communicate your needs, size, and other relevant information to receive an estimate.

6. Voicebase

Voicebase

Voicebase uses both speech-to-text and predictive speech analytics to help businesses learn more about their clients. This service has a strong focus on data visualization so the information can be easily understood.

Voicebase pricing

Voicebase offers a monthly plan at $250, and there's an enterprise option for businesses with specific needs or large teams.

7. Tethr

Tethr

Tethr is another speech analytics platform focused on contact centers. Their holistic dashboard attempts to improve not just the daily operations but to give users information regarding how individual agents can improve their approach and improve the customer experience.

Tethr pricing

Tethr's price is by request only, so you'll need to request specific information from their team.

8. Salesken

Salesken

Unlike many other software on this list, Salesken is meant to support salespeople as they guide prospects through the sales pipeline. The features reflect this goal, with call recordings, sales pitch scores, and even pitch intelligence.

Salesken pricing

This platform's price is by request only, so you'll need to contact their sales team for more information.

9. Invoca

Invoca

Invoca's software attempts to increase revenue via speech analytics, so it mainly tries to optimize sales. The data it provides is not only informative on the agent's performance, but also on the customer.

Invoca pricing

The price for this tool is on request only.

10. Enthu.ai

If you're looking to get to know your clients better, that's the main objective of Enthu.ai. The software provides a call summary, including call filtering, and personalized feedback for the agents.

Enthu.ai pricing

There are two plans available from Enthu.ai, one at $59 per month, and an enterprise option with price on request depending on the desired functionalities.

11. Qualtrics Customer Frontlines

Qualtrics

Qualtrics has been a player in the game for over 20 years, and has recently debuted a speech analytics functionality. This particular product, Customer Frontlines, is meant to improve the customer experience and thereby reduce churn.

Qualtrics Customer Frontlines pricing

The pricing for this tool is on request only, so you'll need to contact them for a personalized estimate.

12. Convin

Convin

Like many speech analytics solutions, Convin will evaluate omnichannel communications to look at a variety of metrics. The main focus of this software is to evaluable call quality, especially taking into account the agent's performance.

Convin pricing

Convin's fees are only available by request, so you'll need to get in touch with their team to know more.

What is speech analytics?

Speech analytics uses voice recognition to detect sentiment and analyze content, and is based on artificial intelligence. In a professional context, speech analytics software is used to extract insights and value from interactions during sales, customer service, or recruitment processes.

To successfully deploy a speech analytics platform, you'll need to collect audio data the tool can examine to compile metrics regarding sentiment analysis, number of interruptions, key moments, and more. These analytical insights then have multiple uses. For example, the speech analytics software by Ringover, Empower, provides personalized recommendations to individual agents, but also KPIs that support quality control. As such, the tool provides significant benefits to agents and managers who need analytical insight to create optimized strategies.

How to choose your speech analytics software?

This software usually represents a significant financial commitment, so you'll need to choose carefully. Besides checking the contract terms to understand your time and monetary commitments, it's also a great idea to take into account the following factors.

  • The selection of features, and if the plans including those features are in your budget
  • Compatibility with your tech stack, particularly with regards to integrations
  • Value of the tool–will it really improve performance over the short and long term?
  • The capacity of the software to scale as your business evolves
  • Pricing, which is an obvious but key criterion which will determine the suitability of a tool

Why are speech analytics software important?

Speech analytics software is a goldmine of information for companies that can then use it to optimize their processes and even increase sales. Below we have listed the different insights that speech analytics tools can provide to companies:

Improve customer experience and satisfaction

Speech analytics tools can identify certain behaviors and patterns among customers. They also provide information on points of friction, needs, and preferences, and help companies offer the most appropriate products and services. When a customer is extremely dissatisfied or satisfied, they are generally pushed to express that feeling. But sometimes signs of satisfaction are not transparent. Speech analytics tools offer more clarity on each interaction and can process large amounts of data to give you a nuanced overview of how your customers are feeling. That's why speech analytics call center has become so popular in recent years.

Optimize employee training and coaching

With a good speech analytics tool, a company can obtain valuable insights into the performance of its employees, identify their shortcomings, and offer them coaching or training sessions. Speech analysis tools also provide information on the most effective speeches, whether in the pre-sale phase, the actual sale, or the post-sale service.

Streamline operations

The best speech analytics software integrates with other business tools. These combinations can help identify inefficient processes, particularly in the customer journey but also internally. For example, Empower offers automatic transcription, eliminating a tedious manual process. And once integrated with other software, it can also decrease repetitive tasks like entering the same data in multiple software.

Keep up with compliance

In some industries, regulations change very quickly. With a speech analytics tool analyzing 100% of customer calls, you'll be able to ensure your team is aligned with the current rules easily and quickly.

Upgrade marketing

By analyzing interactions with prospects and clients in detail, a company can obtain interesting information related to the effectiveness of a campaign, detect new trends, as well as the most interesting and profitable customer segments.

What businesses can benefit from speech analytics?

The major advantage of speech analytics stems from the analysis and resulting insights from unstructured voice data. Thus, the businesses that get the most benefit from speech analytics are those that generate large amounts of voice data. These businesses have a strong interest in keeping a close eye on interactions with clients and prospects for several reasons. First of all, the metrics and insights provided by a speech analytics platform can help to improve performance with prospects and clients, leading to increased conversions, reduced churn or repeat customers, and eventually improved revenue. Additionally, businesses in sectors where compliance is a key concern will reap significant rewards from deploying a software like Empower for Ringover. That's because the software can be easily configured to identify key words or moments related to regulations, indicating if the agents are in compliance or need additional training.

The top five industries that benefit from speech analytics

  1. Recruitment
  2. Financial services
  3. Consumer goods
  4. Healthcare
  5. Insurance

How does speech analytics work?

Speech analytics technology is based on artificial intelligence technology, including NLP, machine learning, and algorithms. In combination, these techniques are able to understand the meaning and emotion expressed in human speech. By carrying out sentiment analysis and putting the words and phrases used in context, software can then identify patterns across conversation, as well as the moments where strong emotions are triggered and expressed.

These software then surfaces insights not only on your customers and their needs and desires, but also your agents and their approach, including specific phrasing that elicits strong reactions.

Speech Analytics Software FAQ

What is the difference between speech analytics and voice analytics?

Speech analytics focuses on what words or phrases are used in interactions, while voice analytics analyzes the speaker's intonations, tone, and timbre–in short, their voice. Put another way, speech analytics looks at the content and emotion expressed by a speaker, while voice analytics looks at factors like tone, stress, and speaking speed to characterize the speaker's voice.

How is speech analytics useful for sales enablement?

A voice and speech analysis software offers certain advantages in the context of sales enablement. It allows for the analysis of conversations between salespeople and prospects or clients. This analysis leads to valuable insights regarding customer needs, strengths, and weaknesses of a sales strategy, and areas for improvement. Specifically, speech analytics is useful for sales enablement to:

  • Identify market trends
  • Improve agent training
  • Optimize the sales process
  • Monitor performance

How do you implement speech analytics?

Speech analytics is a process that can be broken down into 6 steps. Let's look at how it works:

  1. Data collection: Collect data through call recordings or importing audio streams.
  2. Data preprocessing: Clean and structure the data, removing duplicates, and identifying the spoken language.
  3. Text analysis: Extract key information such as discussed themes, recurring terms, or keywords.
  4. Voice analysis: Parse out data regarding tone, speaking time, and speakers.
  5. Data visualization: Display the metrics and KPIs derived from steps three and four in a dashboard so they can easily be understood.
  6. Result interpretation: Identify trends, patterns, and opportunities for improvement which can inform actions and strategy.

Can you integrate a speech analytics tool with telephony software?

You can integrate a speech analytics tool with your telephony software. However, you need to coordinate with the software providers to understand what the integration process will include. If they have a native integration available, you'll be able to connect the two software quickly and without significant technical expertise. If there's no native integration available, you'll need to use the softwares' APIs to connect them, which will require technical knowledge.

For instance, Empower by Ringover has a native integration available with Ringover, so you can connect them within a matter of minutes. Integrating the speech analytics tool with your business phone system allows you to easily capture calls and build up a sufficiently representative volume of data.

What are the advantages of speech analytics for contact centers?

Personalization is increasingly essential when addressing prospects or customers. In fact, customers now expect personalized care and communication. They tend to disregard brands that address customers as a homogenized group. Therefore, companies now want to build a tech stack which allows them to build close and personalized customer relationships. Speech analytics software goes a long way in helping businesses achieve this goal! Here are a few of its specific advantages:

Cost reduction

Contact center agents face the challenges of omnichannel communication and are confronted with managing interactions via messaging, live chat, social media, and more. Contact centers must therefore optimize the mix of channels, improve first-call resolution, and identify the root cause of calls. This is where speech analytics tools come in. 

They can identify, measure, and analyze calls, including low-value ones. Once the calls are categorized, the company can envision a clearer and smoother customer journey. Speech analytics tools provide an overall view of the customer journey but through their prism. In the end, all of this contributes to streamlining processes and reducing operational costs.

Quality assurance and compliance

Speech analytics tools can be used as a supervision solution. Call center managers can verify that their employees do not deviate too much from the script either by programming in keywords or by manual call monitoring. These tools can also help agents identify their strengths and areas for improvement during coaching sessions.

Improved customer experience

Speech analytics helps understand the customer throughout their relationship with the company. Conversation analysis helps personalize this relationship more accurately by identifying preferences, customer opinions, intentions, and even objections. Once this data is collected, adapt your sales strategy accordingly by naturally aligning it with the offer of products and services.

Identify sales opportunities

With speech analytics software, in addition to identifying market trends, companies can uncover new sales opportunities, especially for cross-selling or upselling. Conversations will inform you about your customers' real needs and, in some cases, lead you to generate new offers or promotions to adequately meet the expectations of your prospects and customers.

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