Artificial Solutions | Investor Relations > Non Regulatory > OpenQuestion Targets Mitigating Customers Irritations, Confronting the $934 Million Annual Expense of Call Abandonment and Misrouting in U.S. Contact Centers

OpenQuestion Targets Mitigating Customers Irritations, Confronting the $934 Million Annual Expense of Call Abandonment and Misrouting in U.S. Contact Centers

July 12, 2023 Non Regulatory

There’s a universal experience most customers can relate to – the maddeningly circular phone call with an automated service, the failed attempts to connect with the correct department, or even the decision to give up and disconnect the call out of sheer exasperation. As per a recent joint study by Teneo.ai and ContactBabel, these widespread customer hurdles culminate in abandoned and misrouted calls, which come with an astounding annual cost of $934 million for U.S. contact centers.

The report unveils a considerable inefficiency in telephony self-service: with 17.3 billion calls in the U.S. managed annually via self-service, an alarming 11% aren’t resolved on first contact. This results in the massive yearly expenditure for U.S. contact centers.

Other key findings from the study include:

  • Phone support is the top choice for consumers, with 33% of US customers preferring it.
  • 86% of US organizations agree that calling the contact center for complex queries is the best option.
  • Next-gen IVR tech, like OpenQuestion by Teneo.ai, improves intent recognition by 95% and cuts around 8% of the total call volume cost.
  • Caller authentication is slower due to stricter testing, with a 50% increase compared to 10 years ago in the US.
  • US businesses spend $9.6bn per year on verifying customer identities.
  • Telephony self-service, such as Conversational IVR, saves US organizations $15.2bn annually, with potential for further savings.

Ready to confront these challenges head-on, OpenQuestion by Teneo.ai presents an innovative solution to overhaul the unsatisfactory customer experience often linked with telephony self-service.

Our objective with OpenQuestion is to streamline self-service interactions, making them more intuitive, user-friendly, and efficient. We’re set on minimizing the prevalent rates of call abandonment and correcting the costly issue of misrouted calls. Per Ottosson, CEO of Teneo.ai, a branch of Artificial Solutions.

Engineered to steer customers effortlessly through self-service interactions, OpenQuestion’s AI-infused Conversational IVR system tackles a long-standing problem in the industry, thereby raising the bar for telephony customer service. The reduction in call abandonment rates and enhancement in call routing accuracy translates to not only significant cost savings for businesses, but also a considerable enhancement in the overall customer experience.

In 60 days, OpenQuestion can deliver service to your customers in parallel to your existing IVR – no migration needed.  It offers a beacon of hope to consumers who have long struggled with inefficient telephony self-service systems.

To download the free report, visit:
https://www.teneo.ai/learning-hub/reports/contact-center-automation-2023-report

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