Reduce Average Call Duration by 40% with 2024’s Top IVR Software

Common Integrations and Their Associated Costs 

To make the most of your IVR Software, you’ll likely need to integrate one or more Customer Service software into your tool stack. Here’s a rundown of the most popular solutions on the market and their associated costs

Cost Variables Unique to IVR Software

While IVR Software can be a great tool for businesses to automate voice interactions and boost customer engagement, you should be aware of certain associated costs. Here are some cost variables specific to IVR software

• Voice Talent and Recording Costs: Creating high-quality voice prompts and recordings for IVR systems sometimes involves hiring professional voice talent and renting a recording studio (or using AI voice-generation software!). Costs for script writing, voice recording sessions, or software may also factor into the equation.

Price estimate: $200 – 10,000

• Telco Charges and Call Routing: IVR systems rely on telecommunication services for routing calls and playing voice prompts. Costs can vary based on the number of calls, call duration, and the complexity of the call routing logic.

Price estimate: $15 – 150.

• IVR Script Customization: Developing and customizing IVR scripts tailored to your organization’s needs and customer interactions might require hiring developers or specialists, resulting in development costs.

Price estimate: $500 – 5000.

• Analytics and Reporting Costs: If you require advanced analytics and reporting capabilities specific to IVR interactions, there might be additional costs associated with accessing detailed call performance metrics and insights.

Price estimate: $25 – 250

• IVR Security and Compliance Measures: Implementing security measures specific to IVR interactions, such as secure data transfer and encryption, may lead to additional costs to ensure compliance with industry regulations.

Price estimate: $500 – 5000. 

• Training for IVR Usage: Training your customer service representatives to effectively use and manage the IVR system requires investment in terms of time and potential costs for training materials or external training services.

Price estimate: $100 – 1000. 

• Voice Analytics and Speech Recognition: If you incorporate advanced speech recognition and voice analytics capabilities into your IVR system, there could be costs associated with acquiring and implementing these technologies.

Price estimate: $50 – 250. 

• Multi-Language Support: Offering IVR support in multiple languages involves translating prompts and scripts, potentially leading to translation and localization costs.  

Price estimate: $250 – 500.

• IVR Monitoring and Quality Assurance: Implementing tools and procedures to monitor and ensure the quality of IVR interactions can result in additional costs related to system monitoring and quality assurance efforts.  

Price estimate: $500 – 1500. 

• Consulting Services: Engaging IVR consultants or specialists to optimize your system for maximum efficiency and customer satisfaction might involve consulting fees.

Price estimate: $500 – 2500

Average Salaries of Customer Service Agents

After customers have made it through your IVR Call Flow, they’ll often be directed to a live agent with whom they’ll resolve their inquiry. Keeping these agents on payroll, of course, will be a significant cost to business owners. Here’s a chart of typical Customer Service Representative Salaries for different countries.

Note: Unlike Sales Agents, Customer Service Representatives receive just a base salary. Base salaries are typically a bit higher compared to Sales Agents because Customer Service Representatives don’t receive commission.