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SynerMind

SynerMind. Idan Gelbourt Asaf Navon Itai Ra’anan Yoav Reshef Ziv Yiermeyahu. The Wisdom of Synergy. Vision. “Developing a new kind of intelligence,. By combining a Computational power. and a human mind’s abilities”. Market Call Center. Call Centers kinds:

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SynerMind

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  1. SynerMind Idan Gelbourt Asaf Navon Itai Ra’anan Yoav Reshef Ziv Yiermeyahu The Wisdom of Synergy

  2. Vision “Developing a new kind of intelligence, By combining a Computational power and a human mind’s abilities”

  3. MarketCall Center • Call Centers kinds: • Tourism, Sales, Banking, Computers etc. • Information Queries, Consulting, Costumers services • CC employees In USA = 1% the American work force • Over 70% of Call Centers costs are labor costs • A CRM division • Growing market • Constant conflict: service vs. cost

  4. Technology Development Interactive Voice Response (IVR) 1st G: DTMF 2nd G: Voice Menus The future: 3rd G: NLU SynerMind

  5. The Pain – Voice Menu • Menus are stiff • Number of options in each menu is limited • Number of menus is limited • Voice recognition errors Market available for VM is limited Quality of service is not high

  6. The Pain - NLU • Computers cannot “understand” natural language! • The progress in the field is slow. No breakthrough is expected in the near future.

  7. The Product

  8. Our solution Integrating a human operator in the computerized voice response system for online support . • SynMenu, An advanced smart voice menu, which in addition to the usual menu capabilities manages the communication between the computer and an online human Operator. The application schedules the “understanding” tasks between the computer and the human and manages the control between these two.

  9. Example Caller 2 Caller 1 “Hello, you’ve reached SynerMind’s prototype, a simulation of Citi Banks’ Call Center. This is James, your computerized banker, What is your name?” “George” “What is your account number?” “XXXX”

  10. Example Caller 2 Caller 1 “What is your request?” “I would like to open a saving account” (Failure) “I’m sorry, could you repeat your request?” “I’d like to open a saving account.” “I understand that you want a saving program.Let me recommend the one we have today on sale…”

  11. Features and Capabilities • Menu with certain open questions – SynMenu can cover most of the call centers functions • Smart Menu - decisions on line • Unique graphical interface • Several response possibilities for the agent. • Learning system • Modules of control and supervision – online and offline

  12. Architecture

  13. Prototype Performances • The test: • 2 callers, 3 calls each, a few times. • 1 agent handling the exceptions • For comparison (calls on average): • Normal call length: 50 seconds • As a result of using SynerMind: • Agent time for each call: 9 seconds

  14. Prototype Performances • Average time spent by an agent: down 82% • An agent can handle (on average): more then 5 calls at once. • Average time/call for client: no change • For all calls going through the system the call center can use only 18% of it’s labor

  15. Leading Future Progress Benefits Lower Operational Costs Shorter time spent on each call  Fewer agents needed – significant savings Increased Revenues Resources saving – allocating human agents to complex tasks such as sales Increased customer satisfaction and retention Higher error resolution, less holding time, easier navigation, less abandoned calls Unique capabilities and features A single agent handles multiple callers, agent voice response, first sentence redirection etc… Immediate Market Entrance Competitive Advantage New Markets

  16. Strategy Guidelines • Fast entry to the market – get market share • Enhance the system as we go • After launching the product: acquire NLU capabilities for the next product generation • Using technology developments in recognition and understanding to improve our product

  17. Development Plan • Prototype • Pilot at a simple call center • Pilot at a complex call center • SynMenu 1.0

  18. Bezeq 144 –Simple Call Center • Record & Play: simple system, Minimal voice recognition. • Our incentive: • Implementing with systems in a call center, Testing a part of the concept, Making a connection with a big Integrator (Alcatel) • Bezeq’s incentive: • Building a program suited to it’s needs • A possibility to upgrade to NLU with us • Very competitive price: • Location, Cheap resources, Imitations of existing solutions, Not our flagship product

  19. The Market

  20. The Voice Market Voice Market Value Sep. 2000 Nuance = 150$ /share July 2002 Nuance = 3.8$ / share SynerMind time

  21. Customers • Criteria for voice applications • 3 alternative call centers: • In-House - Alone • Full Outsource • In-House - with an Integrator

  22. Integrators (Coopetition) • Nortel Networks • Accenture • Alcatel • Ness

  23. Competitors

  24. Financial Plan

  25. Estimated Burn Rate • Based on industry assumptions of USD 8000 per employee per month. First year’s total costs: 1.2M USD.

  26. Pricing the Product • One-time costs: • Software license • Hardware costs • 3rd party software license • Customization • Implementation • Recurring costs: • Maintenance (software, hardware, 3rd party software) • Support

  27. Revenues Prices are based on comparative system prices from other companies such as Nuance, Speechworks etc All sums are in 1000’s of US Dollars 3rd party costs (Hardware, Software) have been subtracted from these figures

  28. Revenues Forecasted Revenue, 2003 & 2004: ~ USD 3.1M

  29. Risks • Educating customers – change in concept • Volatile market • Long and expensive integration • High competition - imitation

  30. Rewards • Wealthy customers • Big and growing market certainly a paradigm shift • Unrealized potential – voice products • Potential market leader • Short term ROI • 100-agent call center, 3M$ annual costs w/o SynerMind • SynerMind saving: 900K$ annually, ROI: 6-7 months.

  31. Thank You, SynerMind July, 2002

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