RFPs for Speech Analytics: Asking the Right Questions

When you want to hear what your customers truly have to say, you are on the path to transforming your business. The trouble today is that customers have so much to say across so many channels that companies need a solution for transitioning from voice-only contact centers to omnichannel customer engagement models. The answer lies in customer engagement analytics, or speech analytics. But, there are so many trends and tools available that you need to ensure you choose the one that is right for your organization.

The key is in the Request for Proposal (RFP). You must know which questions to ask and which information to include when drafting your speech analytics RFP so you are sure to select the right solution for your existing and future needs.

Continue reading to learn more about Request for Proposals for speech analytics to help you improve customer engagement and deliver consistently outstanding customer experiences.

Create the Most Effective RFP for Speech Analytics by Asking the Right Questions

An effective RFP needs to start with the right questions. After all, asking the right questions will help you find the right speech analytics solution for your company. It may help to group your questions into financial, technical, and operational considerations.

Financial Considerations

Business Value/ROI – At the end of the day, the business value of the solution you choose must be appealing to all decision makers. You need to ask the right questions to get at the heart of the speech analytics solutions in consideration.

  • What is your philosophy regarding customer engagement analytics, and how does your solution deliver on it?
  • What differentiates your speech analytics solution from other customer engagement analytics solutions?
  • Where can we expect the largest ROI with your solution?

Pricing – Keep in mind that the cost for speech analytics solutions often involves the license fee and professional services.

  • What is your standard license model? Do you offer other license models, and if so, what are they?
  • How does the license model reflect call sampling at rates lower than 100%?
  • What is included in your speech analytics solution? What are the options and their associated prices?
  • How do you charge for professional services? What is their cost?

Total Cost of Ownership – You need to know the bottom line when selecting your speech analytics solution. Ask questions to get a clear picture of total cost.

  • What is the expected Total Cost of Ownership, including all applicable costs such as installation, onsite training, professional services, and license fees for Year 1, Years 1-3, and Years 1-5?

Technical Considerations

Architecture– Focus on determining how the speech analytics solution is built to evaluate whether it will meet your contact center needs.

  • Which type of speech recognition technology does the solution utilize – phonetic-based, large vocabulary, or something else?
  • Does the system measure silence in and around conversations? If so, how?
  • Which features allow the solution to be enterprise-ready?
  • What are the benefits of leveraging your hosted offering instead of deploying your solution on our premises?

 Data Processing –Analytics comes down to data. Focus questions on determining exactly how the solution uses data and creates analysis reports.

  • Will you provide a high-level diagram of how data flows in your solution?
  • Is data stored in an industry standard, non-proprietary format? If so, which versions, and how much support do you offer?
  • When are calls that have finished recording typically available for analysis?
  • How long does the solution typically retain data for analysis?

Operational Considerations

Implementation – Your speech analytics solution will work effectively only if it is implemented properly. Ask questions to ensure that it will be.

  • What is your typical implementation process like? Provide an example implementation project plan.
  • What is the typical length of time from kick-off to go-live date?
  • How do you handle multiple site implementations?

Information to Look for in Response to Your RFP for Speech Analytics

Of course, your questions won’t do you any good if you aren’t sure what to look for in response. A few of the most critical features and functions it should include:

  • Full transcript of audio into structured text data indexed back to source audio
  • Flexible, robust free-form search for words and phrases
  • Data visualization tools for comparing and filtering performance metrics
  • Automated and customer configurable call scoring and agent evaluation
  • Omnichannel customer journey mapping
  • Agent self-performance and auto-feedback monitoring

Of course, your RFP should be customized to address your organization’s specific application requirements. Starting with these essentials provides a solid foundation that ensures that you’re provided with the vital information to make an informed decision. Consult with key stakeholders and end users to incorporate other essentials that impact usability and functional requirements to develop a comprehensive, organization-specific RFP.

An RFP is an essential tool for selecting the speech analytics vendor with the features and capabilities your business requires. Asking the right questions and carefully analyzing every proposal is the first step in choosing the right vendor.

What vital questions do you ask in your RFPs for speech analytics?