IVR Applications: Utilities

May 2, 2011

Utilities, including power and telephone companies, are using IVR for a range of beneficial applications. This has decreased the cost of communicating with customers and allowed for more efficient responses to service interruptions. Read on to learn about some of IVR’s applications for utilities…

A. Outages: Power utilities can apply an IVR application to inform customers of planned outages by telephone. This will prevent a flood of calls to notify the company of such outages. It may also be used by customers to report electric or cable TV outages.

B. Making Payment: Using IVR, utilities of any type can give customers the means to make payment over the phone at all hours of the day. The system may collect checking account or credit/debit card details for use in processing payment.

C. Service: Utilities may use an IVR application to let customers automatically request and schedule a visit by service personnel. This reduces the amount of time customer service representatives must spend on such requests, and prevents callers from being put on hold.

D. Work Orders: Service technicians can routinely report back on work order data with an IVR application, entering the current status of different orders. Such information may be used to inform customers of progress in responding to an outage or other problem.

E. Sales: A cable TV, telephone, or internet service provider can supply prices and details on their different “plans” or “packages” through IVR applications. Potential subscribers may enter their zip codes to confirm availability and pricing before speaking with a representative.

Each of these IVR applications makes it easier for utilities to provide callers with information and other services throughout the day and week. They also save time both for the utility and its customers. Such applications can be additionally streamlined by using an IVR system which automatically detects the caller’s phone number.

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IVR Applications: Financial ...

May 2, 2011

Interactive Voice Response telephone systems have many applications in the financial services sector. Banks, credit card issuers, credit unions, investment services, and other financial institutions often make use of IVR applications. Some productive financial IVR applications of IVR services are as follows:

INBOUND IVR APPLICATIONS

1. Some banks offer services that enable customers to monitor and manage their checking/savings accounts via IVR. For example, one medium-sized bank in Maine has an automated phone system which lets customers check their balances, listen to transaction lists, and transfer between accounts. It even permits them to report lost credit/debit cards.

2. Investment services with IVR can give clients the ability to set 401k options, listen to important updates, alter contact information, and monitor current stock quotes by telephone. These systems may also be used to provide frequently requested information, like office hours or mailing addresses.

OUTBOUND IVR APPLICATIONS

Financial services companies also use IVR applications to contact customers by telephone for various reasons.

1. Customers may be notified of fraudulent activities and financial security breaches via IVR, especially when such problems affect hundreds or thousands of individuals. This is faster and less expensive than providing notification by mail, and reaches more clients than a web-based notice.

2. When customers are late to pay loan or credit card bills, financial institutions can use IVR calls to contact them regarding payment. The system may also provide instructions to pay by check or automatically process a credit/debit card payment from the customer. A message is left on the customer’s answering machine if there is no response.

In these and other applications, IVR offers many advantages to the financial services industry. It reduces the cost of providing customer service and enables 24-hour access to account information. Unlike simple prerecorded messages, it can also be customized to individual clients in many ways.

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