You’ve probably noticed that we’ve been talking a lot lately about the idea of driving return on investment (ROI) from your contact centers, and if you haven’t you should check out our new white paper on the topic. But after a recent conversation with with Rich Quattrocchi, VP of Marketing for Mutare, we had to touch on it again.
Mutare is a Carousel partner focused on making information access easier. They have a variety of software products that help businesses enhance communications, including unified messaging, smart notification, emergency notification and speech-to-text technology. Mutare’s technology is not just for call centers, however; its products can extend to virtually any corner of the enterprise where the business need demands it.
Speech-to-Text Technology Leads to Reduction in Fraudulent Claims for State Unemployment System
In the recent discussion with Rich, he shared one case study that illustrates the value Mutare’s technology can deliver. A large Midwestern state (not quite ready to be named) has been using an interactive voice response (IVR) system for several years to enable unemployed citizens to remotely file claims and conduct periodic check-ins with its unemployment agency. If any of you have ever been laid off, you know that when residents are on unemployment insurance, they are supposed to be actively looking for work. To ensure they are, recipients are required to check in with the agency every couple of weeks to answer questions, report where they applied, what the result were, etc.
Using the IVR systems for such transactions was supposed to streamline the process for residents and cut costs for the agency. What the agency quickly realized is that they didn’t have the manpower to actually go back and listen to each recorded phone call, and cross-reference data with various databases to ensure recipients were reporting accurately and still eligible for unemployment insurance.
It didn’t take long for the state to determine that people were gaming the system, calling in to collect benefits when they were no longer entitled to them. The result: An estimated $30 million in fraudulent claims in 2011 alone.
Rapid ROI from Speech to Text Technology Integration
The state received a federal grant to help it reduce fraud and started looking at solutions. Mutare gave them a demo of their giSTT (pronounced: gist) speech to text software, which acts as a plugin to virtually every IVR systems, and soon had it up and running. The giSST server sits between the audio source server and the customer database, either on-site on in the cloud, takes the audio files, translates them to text in the giSST engine and then delivers them to the appropriate application(s) to be leveraged.
By converting speech to text with giSTT, Mutare was able to help the state utilize the data and cross-reference it against various other databases to make sure claims were valid. It’s a job that is simply not feasible for humans to do alone.
The results were impressive. “The system caught its first instance of fraud within 5 minutes,” Quattrocchi says, “and approximately $10 million worth in the first year.” Having paid about $1 million for the system, the state generated a 10-times ROI in the first year.
To learn more about how speech-to-text technology can make your unified communications, contact center and database applications work better, improving business processes and driving ROI, contact Carousel. And don’t forget to check out our white paper, 4 Ways to Increase ROI from Contact Centers, for more valuable ROI tips.