Glossary

AIDA (Artificial Intelligent Digital Assistant):

AIDA is an AI-powered tool designed to assist with various tasks within AuditWise, such as analysing customer interactions, providing feedback and navigating around the platform. Just ask her a question and she will provide the answer or point you in the right direction.

Artificial Intelligence (AI):

The simulation of human intelligence processes by machines, especially customer systems. This includes learning, reasoning and self-correction. AI (AIDA) is used to analyse customer interactions and provide insights for quality monitoring.

Attrition Rate:

The rate at which employees leave an organization over a specific period, typically expressed as a percentage. Attrition rate is used to measure the stability and health of an organisation’s workforce. A high attrition rate may indicate issues with job satisfaction, work environment, or management, while a low attrition rate suggests good employee retention practices. Monitoring the attrition rate helps in understanding staff turnover and its impact on customer service quality.

Auditables:

AuditWise also allows for the auditing of “things” as well as people. Examples include processes, sites, cars etc. An auditable has elements that can be reviewed and assessed to ensure they meet predefined criteria, standards and regulatory requirements.

Auditor:

Person responsible for reviewing and assessing the quality and compliance of customer interactions. Auditors play a crucial role in maintaining high standards of customer service which is why the insights that AuditWise provides are key in assisting with refining training programs and enhancing agent performance.

Automated Scoring:

Using AuditWise’s (AIDA) to automatically evaluate and score customer interactions based on predefined criteria. Automatic scoring streamlines the quality assurance process and reduces manual effort.

Average Handle Time (AHT):

The average duration of time that an agent spends on a customer interaction, including the time taken to complete post-call tasks. It is typically measured from the moment the customer initiates contact until the interaction is fully resolved. Often a KPI in contact centres, AHT is used to evaluate the efficiency of agents and the overall operational effectiveness.

Business Process Outsourcing (BPO):

The practice of contracting standard business functions or processes to a third-party service provider. These processes can include a wide range of functions such as customer service, payroll, accounting, human resources, and more.

Calibration:

The process whereby quality monitoring standards and scoring criteria are aligned across auditors to ensure consistency and accuracy in the assessment of customer interactions. There is a comprehensive calibration section within AuditWise which ensures the reliability of audits and supports fair and constructive feedback for continuous improvement.

Clients:

Within the AuditWise platform, you can create a login for an external user of the system and allocate specific scorecards and / or reports. Particularly useful for our BPO customers.

Compliance Monitoring:

Ensuring that customer interactions adhere to legal and regulatory requirements. Not only can AuditWise monitor interactions for compliance breaches and flag them for review, but also provide separate reporting.

Customer Satisfaction (CSAT):

A measure of how products and services meet or exceed customer expectations. CST scores are often derived from customer feedback and interaction analysis.

Data Privacy:

The protection of personal data collected during customer interactions. Ensuring that AuditWise complies with data privacy regulations and secures customer information. See our privacy policy here: https://auditwise.com/privacypolicy/

First Call Resolution (FCR):

The ability to resolve customer issues during the first contact, without the need for follow-up. FCR is a critical metric for assessing the efficiency and effectiveness of customer service.

Gamification:

Gamification in a quality monitoring platform aims to motivate employees to improve their performance and adhere to quality standards. By turning quality monitoring tasks into interactive and competitive activities, gamification fosters a positive and productive work environment. Within AuditWise, there is a comprehensive gamification area incorporating features such as points, awards, leagues, leaderboards, and challenges designed to make the quality assurance process more engaging for agents and auditors.

GDPR:

At AuditWise, we understand that GDPR compliance is essential when collecting, storing, and processing customer interactions and data, ensuring that all legal requirements are met. This includes obtaining explicit consent for recording interactions, securing personal data, enabling data access and deletion requests from individuals, and ensuring that data is only used for legitimate purposes.

Grade of Service (GOS):

A measure of the quality and efficiency of service provided by a contact centre, typically defined as the percentage of calls answered within a specific time frame. It indicates the centre’s ability to meet its service level objectives and manage call traffic effectively.

Insight Redaction:

The process of selectively removing or obscuring sensitive information from customer interactions to protect privacy and ensure compliance with data protection regulations. Within AuditWise, AIDA can automatically detect and redact sensitive data such as personally identifiable information, credit card numbers, and health information from call recordings.

Interaction Insights:

AuditWise provides actionable information derived from analysing customer interactions. These insights provide a deeper understanding of customer behaviour, preferences, sentiment, and issues, enabling businesses to enhance service quality and operational efficiency. By leveraging AI, AuditWise can analyse large volumes of interaction data to generate meaningful reports and recommendations; crucial for making informed decisions.

IP Whitelisting:

In AuditWise, IP whitelisting can be used to protect sensitive data and maintain the integrity of the system. Administrators can specify which IP addresses are allowed to access the platform, ensuring that only users from recognised and secure networks can log in. This helps prevent potential security breaches, unauthorised data access, and ensures compliance with organisational security policies.

Key Performance Indicator (KPI):

Metrics used to evaluate the performance of customer service agents and the overall contact centre/business. Common KPIs include average handle time (AHT), customer satisfaction score, first call resolution, and quality score.

Machine Learning:

A subset of AI that enables systems to learn from data and improve over time without being explicitly programmed. ML algorithms.

Natural Language Processing (NLP):

A field of AI focused on the interaction between computers and humans through natural language. NLP is used to analyse and interpret customer conversations for sentiment, intent, and context.

Net Promoter Score (NPS):

A metric used to gauge customer loyalty and satisfaction by asking customers how likely they are to recommend a company's product or service to others on a scale of 0 to 10. NPS is a widely recognized measure of customer experience and loyalty. It provides insights into customer satisfaction and can help businesses identify areas for improvement.

Omnichannel Analytics:

The analysis of customer interactions across multiple channels (e.g., phone, emails, chat, social media). Provides a comprehensive view of customer interactions and helps in delivering consistent service across all channels.

Plug-Ins:

AuditWise offers a wide range of plug-ins to allow seamless integration with various third-party applications such as CRM systems and communication platforms. This allows for enhanced features and reporting as well as tailoring AuditWise to unique workflows, resulting in improved efficiency and effectiveness in monitoring and analysing customer interactions.

Quality Assurance / Monitoring:

The process of reviewing and evaluating customer interactions to ensure compliance with standards and improve service quality. Quality monitoring with AuditWise allows the option to utilise AI to assess agent performance and customer satisfaction.

Retention Rate:

The percentage of employees or customers who remain with a company over a specific period of time. It is an important metric for evaluating the success of employee retention strategies and customer loyalty programs.

Root Cause Analysis:

A method of problem-solving used to identify the underlying reasons for issues or incidents. AI helps in performing root cause analysis to address and mitigate recurring problems.

Scorecards:

Scorecards primarily include a set of metrics or questions and scoring mechanisms which align with the organisation’s quality standards and objectives. In AuditWise, you can take advantage of pre-built scorecards in the template library or create your own using the intuitive scorecard builder.

Sentiment Analysis:

The process of determining the emotional tone behind words. Sentiment analysis helps in understanding customer satisfaction and emotions during interactions.

Speech Analytics:

The ability of a machine or program to identify words and phrases in spoken language and convert them into text.

Text Analytics:

The process of converting unstructured text data into meaningful data for analysis. Text analytics helps in extracting insights from chat logs, emails, and other text-based communications.

Workforce Optimisation (WFO):

A strategy to improve the efficiency and effectiveness of the workforce, often through the use of technology. WFO solutions include scheduling, training, and performance management tools powered by AI.