Speech analytics tools have been around for a while. If you were an early adopter, you probably have not-so-fond memories of(or maybe you're still dealing with) garbled transcriptions, clumsy manual workflows, and reporting that only gave you a list of problems with no way to solve them.

You might have even given up, and we wouldn’t blame you. Your team needs something better than that.

What’s new under the sun

Just like you’re not using AOL and a dial-up connection to surf the web anymore (and probably not saying “surf the web” either), technology has gotten better.

Artificial intelligence is a buzzword these days, but for anyone working in consumer finance - including collections, lending and borrowing, auto finance, and healthcare RCM - AI has turned those old-fashioned speech analytics tools into something that can actually benefit your team and boost revenue while you’re at it.

Then

When speech analytics first launched, you heard a lot of promises about how it would transform your business: Reduced headcount! No dedicated IT! Voice recognition transcriptions! Hands-off agent improvement! We know your business!

And then….you hit reality. Speech analytics failed you again and again:

• False positives left you with increased or steady headcount
• Your IT team was constantly managing software
• Transcription was unreliable, causing cascading problems
• Operations leaders had just as much coaching to do
• Applications didn’t understand consumer finance

Like we said, we don’t blame you for giving up.

Here’s Prodigal’s Marc Cataldo talking about how speech analytics is a great fire alarm…and a terrible first responder.

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…and now

Lots of speech analytics companies are still trying to be…well, speech analytics companies (seeing them leading with that term is your first warning), and to cover every industry they possibly can.

At Prodigal, we jumped at the chance to be helpful instead.

Instead of doubling down on old-fashioned speech analytics, we committed to using AI to create a tool that would analyze and learn from conversations.

And instead of trying to be everything to everyone, we devoted ourselves to consumer finance. That’s what makes our AI so good - we made it an expert in what you do so we can help you get even better.

Here's Marc again on why our vertical focus on all things borrowing and lending makes things better for you.

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Need to know what to look for?

Take a look at our guide: 10 Questions for your speech analytics RFP.