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4 The Power of Speech Recognition for Se... > Speech Recognition Return on Investm... - Pg. 49

Speech Recognition Return on Investment Investments in speech recognition systems typically yield a payback of less than 12 months from the time of implementation. In order to track and report the success of any project, including a speech initiative, conduct a baseline analysis of the operating area or function prior to making an in- vestment. This way, you will be able to accurately measure the success of the implementation and determine whether it produced the projected savings. Reducing operating expenses and improving productivity and service quality are requirements for all contact centers. In the ROI model for the hypothetical company in Figure 4.4, the cost per DTMF handled call was $0.45, 91 percent lower than the $5.00 per agent-handled call. Therefore, the contact center wanted to improve its phone-based self-service solu- tions. After analyzing its options, the enterprise chose to introduce speech technology to improve the ease of use and navigation of the exist- ing DTMF system and to provide new functionality. After analyzing cus- tomer needs, the current DTMF-based system was enhanced and cus- tomers allowed to use the speech recognition application to change their