IVR Hosting is a new technological application that makes a name in many businesses as it proves to be really beneficial to many. But what does IVR mean and how can it help businesses?

IVR, or Interactive Voice Response, is a computerized phone system that enables a person, typically a phone caller, to make a selection from a voice menu. The selection is made using touch-phone keypad entries or voice responses. The phone system plays pre-recorded voice prompts and the person typically presses a number on a telephone keypad to select the option associated with the voice prompt. This interaction allows the individual to communicate with the phone system and thus the computer system to either obtain information or process a transaction.

This new technology then provides a number of benefits to many businesses such as follows:

1. Excellent customer satisfaction

A number of companies need to provide customer service over the phone to answer some customer’s inquiries. At times, the number of phone calls that the company receives is too much to be handled by a limited number of customer service representatives. This results to long queue and more call minutes that the customer must spend just to wait for someone to answer their call.

The use of hosted IVR is a good alternative to provide some information that the customer needs especially if it’s just about balances, payments, credit limits and other basic information.  Therefore, it does not require customers to stay on the line for too long just to receive information. In this way, customer’s inquiries are mostly being handled accurately and efficiently.

2. More savings

More often than not, the company can save more money by just using an IVR system than to hire more customer service representatives. The savings that the company can keep may be used for other reasonable and necessary expenses of the company.

3. Good reputation in technological advancement