Contiinex redefines B2B solutions with cutting-edge speech AI platform with user-friendly interface, and actionable business insights
CXOToday has engaged in an exclusive interview with Mr. Vijay Krishna BS, Co-founder & CTO, Contiinex.
- How does Contiinex’s Speech AI platform differ from traditional SAAS solutions, and how does it specifically benefit businesses in the B2B environment?
A: When we launched Contiinex in December 2020, our aim was to empower businesses to better understand their customers, take action in real time, and make strategic business decisions. We were acutely aware of the limitations of traditional SAAS solutions. Therefore, we decided to custom build our speech AI platform for the B2B environment.
There are three fundamental ways in which Contiinex’s Speech AI platform differs from SAAS solutions:
Data security: SAAS typically provides some kind of an API or a plug-in that the customer data needs to be integrated with. In other words, the customer data has to move from the client’s cloud into the SAAS provider’s environment. And that’s a regulatory bottleneck for various B2B players, particularly in the insurance and healthcare space.
Contiinex deploys the entire stack, comprising the speech analytics and the LLM extract, within the customer’s private cloud behind the firewall. In other words, it sits where the data resides so there’s no question of sensitive customer data leaving the environment. Data security is assured.
Ease of use: Unlike cumbersome SAAS solutions, Contiinex’s proprietary speech-to-text engine and open framework called Contiinex Open framework for Indexes are extremely easy to plug into the customer environment. The integration is smooth and hassle-free as you are dealing with a single stack.
Valuable business insights: Given that most SAAS providers are generic platforms, they focus on high-level information extraction – the impact of which is typically limited to peripheral processes. There are no industry-specific deep analysis or valuable takeaways. Contiinex dives deeper into customer data to provide valuable insights across different business customer experience/behaviour metrics for an enterprise. This has helped numerous enterprises to transform their customer experience, enhance business productivity, and drive cost optimization.
- Could you elucidate on how Contiinex’s proprietary speech-to-text engine and open framework index (COFI) have transformed customer experience and enhanced business productivity in the healthcare and insurance sectors?
A: Contiinex’s proprietary speech AI is trained on industry data, particularly healthcare and insurance sectors. This helps enterprises in the healthcare and insurance sectors to listen keenly to their customers in order to provide them with the best service.
Our NLP algorithms enable meticulous monitoring of conversations, providing high accuracy and efficient analyzes of voice files of the customer experience division. Similarly, our speech-to-text solution is one of its kind, specifically created for Contact Centre speech conversations. Armed with 8 kilo hz, mono channel, and having two speakers, it offers a differentiated solution that minimizes human error, while ensuring adherence to regulatory guidelines and quality standards.
In terms of business productivity, the results have been remarkable. AgentNex, one of the products of the Contiinex platform, helps boost agent productivity by automating certain integral processes. For insurance providers, this translates into tailored coverage plans, streamlined claims processing, and mitigated fraud, among other things.
On the other hand, companies in the healthcare space have benefited significantly from the insights gathered from unstructured data coming through various channels, helping them make critical business decisions in real time. This has improved efficiency as well as agility.
- Contiinex aims to tap into top Fortune 1000 businesses across different verticals. What strategies does the company have in place to successfully enter new global markets?
A: Our go-to-market strategy is to actively build new partnerships with global BPOs as well as leading system integrators who serve Fortune 1000 businesses. Right now, we already have a strong presence in India and the US. We plan to strengthen our position in the existing markets, while we foray into new markets in Australia and the UK in the near future.
- How does Contiinex ensure the security and privacy of sensitive customer data while still providing comprehensive analysis of unstructured data from multiple sources like customer calls, emails, chats, and social media engagements?
A: As mentioned earlier, unlike much of the competition, Contiinex’s solution can be deployed within an enterprise’s firewall. Therefore, it is preferred by clients in industries where data privacy and security are of prime importance.
- Could you kindly elaborate on some of Contiinex’s products? Do you intend on launching any new products in the near future?
A: There are a couple of exciting new products in the pipeline. However, we cannot reveal much before the patent applications are cleared.
Currently, Contiinex has four key products:
AuditNex: This flagship product automates the entire quality audit of contact centres. Instead of listening to customer calls manually and physically editing on various parameters, the speech engine can analyze the call and extract key elements in no time. That means, all customer calls can undergo quality audit, unlike the typical rate of 2-3% in traditional enterprises.
AgentNex: The focus here is on augmenting agent productivity, delivering higher accuracy, and improving the overall customer experience. With AgentNex, Contiinex can listen through the live calls between customer service agents and customers to provide timely nudges to the agent to cater to the customer in the most efficient and meaningful manner. Automation also helps make the process much faster.
Deep Insights: This essentially leverages pre-defined indexes, which are mapped from key insights derived from various channels, such as emails, voice, or any unstructured data. For example, the sales propensity index can help measure customer experience in a clear, customized manner for each enterprise.
Cloud-based dialler: Contact centres can use this as a single platform for leveraging automated voice solutions as well as to enable agents to have meaningful customer interactions, on a case-by-case basis.
