As I wrote once about making money with IVR Software, I have finally decided to write what IVR applications can be used to generate monthly revenue. Till recently, IVR Application or IVR Software was thought to be used only for increase in efficiency, reduce cost, automatic complaint management etc. Not any more! There are now IVR applications which are mostly used to generating revenue!

There are many IVR Applications in many industries, but the use of IVR Software in Telecom Industries is quite interesting! And this is where you make regular money. The most widely deployed IVRS Software for making money are :

1. Voice Portal
2. CRBT or PRBT

1. Voice Portal
Voice portals started as a premium service for quick access of information. According to various sources, it first appeared in 1999 in line with internet web portal.
With the advent of mobile phone, there was surge in value added service. This is when Voice Portals also got a push by telecom service providers.
Normally, voice portals are operated by a value added service provider (VAS) companies like Niche Tech Services (P) Ltd, or OnMobile in collaboration with a telecom service provider on revenue sharing basis. Normally, any call made to voice portal is charged premium. Voice portals provides various information, news, entertainment etc. The revenue model goes like this :
1. Per call is charged premium at Rs. 6 per minute of usage
2. Revenue is shared between telecom services provider and the VAS service provider. Revenue sharing is heavily tilted towards telecom service provider in India while it is opposite in some countries like China.
3. Billing is done monthly by the VAS Operator to telecom service provider.Telecom service provider charges mobile user in their telephone bills.

One telecom service provider can have many voice portals catering to many niche markets. The voice portal market is still growing and there are scopes for new players!

2. CRBT or PRBT
CRBT ( Caller Ringback Tone) is also known as PRBT( Personalised ring back tone.). This is nothing but an IVR Application as I explained earlier too. It also started quite recently in 2000 only! The increase in usage and popularity of CRBT is largely due to increase in Mobile Telephony and marketing by Mobile telephony provider.
CRBT has been very popular all over the world. Specially in South Korea, China and India. The revenue model is little different than voice portal. CRBT is again provide normally by a VAS operator to a telecom service provider. Here is the revenue model:

1. A subscriber is charged a monthly rental for using the CRBT service. Normally it is small amount like Rs. 30/- a month.
2. Subscriber can change CRBT tone by calling up a Voice Portal Number, add specific ring tone or song for a specific caller according to caller id. Each change is charged Rs. 15.
3. It does not charge for playing the ring tone for every call.
4. Revenue is shared between VAS operator and telecom service provider.
5. Since it uses songs, there may be a revenue sharing with music producers too.

Normally, one telecom service provider can not have more than one VAS operator for CRBT due to its technical setup. The market is still growing and big. There are still scope for new players, specially in India.

Apart from these two IVR Applications, I believe both Voice SMS, Outbound IVRS and UMS(Unified Messaging Service) are other IVR application which can be used commercially to make money. I will write more about them in future.

Special Disclaimer : The prices given above are just a number to give an idea of charging subscribers. It should not be taken as absolute fact.

Another interesting IVR Application is for courts. In fact many Indian High Courts have implemented IVRS. IVR can help decreasing footfalls in courts for many routine inquiries.

High courts can use both inbound and outbound IVRS. Inbound IVR Application can be mainly used for for the following:-

1. Providing information about any case as per case number, case today, court of the judge.

2. Providing information about holidays, leaves, postponement. It will be specially beneficial for people who travel long distance to attend a hearing.

3. Announce change of date of hearing, assigned lawyer etc.

4. Announce important information about the court and important rules and regulations as well as legal services and assistance provided by courts.

5. It can also work as paging for the lawyer of a particular case where a caller can send message for a lawyer.

6. Complaint about any employee of the high court. Report about anything which will help honorable judges deliver justice.

7. Feedback about court.

Outbound IVRS can be used for following:

1. Alerts services for lawyers about pending hearing, case. This can be paid service to lawyers as well.

2. Outbound call alerts judges about pending cases or shifting.

3. Outbound call to announce important verdict to the concerned parties.

There are few basic difference between outbound and inbound IVR Application. Normal IVR Application deals with inbound calls and call transferring. But an outbound IVR performs the few more tasks than an Inbound IVRS! And this is purely call handling point of View.

Though inbound application may have to do more computation as it has wider applications. But outbound calls have greater challenges in development. Here are few points to ponder about developing an outbound IVR Software:

1. Outbound calls may encounter various called parties! For example, the number dialed may turn out to be FAX number, so as soon as your call gets connected, IVR will get a FAX tone! So IVR has to detect FAX tone and and take appropriate action! It is specially important where outbound calls are payable as well as the usage time needs proper recording! It may face not only FAX, but also voice mail, answering machine, call forwarding etc.

2. Starting the message ( playback audio file ) after connection is very crucial! For example, if you detect FAX tone, you need to disconnect, not play the message! Same for Voice Mail, Answering Machine.

3. Deciding the type of card is also important. According to me, digital cards are better suited that analog cards. Here by digital cards, I am meaning digital interface like ISDN, R2MF, SS7! CTI cards are of course digital! Digital CTI boards can perform better in detecting FAX tone, Voice Mail, Answering Machine! Also, they give quick disconnection which important for call accounting.

4. Call synchronization is important. As outbound IVR Application will dial out multiple number simultaneously and some calls will be unsuccessful, which need to be retried! These kind of mechanism should be important and properly taken care of.

Few Features which are useful in an outbound IVR Application:

1. Outbound IVR application should have call transfer facility as an option just like inbound IVR application.

2. It should also have called party interaction through DTMF or Speech recognition.

3. The messages should be short and quick.

Both outbound and inbound IVR Application can be used as advertising tools. It can be quite effective as it can be really interactive with quick response unlike print or visual advertising.

Using Inbound IVRS as Marketing tools:
Inbound IVRS is those kind of IVRS where user calls to IVRS. Normally this kind of IVRS uses a toll free number. Else most probably, now a days nobody will make an outgoing call and listen to advertisements!

Voice Portals are such inbound IVRS where advertisement can be inserted. Voice Portal normally has many applications. Each application can have different advertisements. For example, if a voice portal has Music Application where user listens to songs, one can insert advertisements of upcoming music releases as well as movies. This kind of relevant advertisements will not irritate the caller much.
These advertisements can be interactive. For example, one can play promo of a movie, and ask people to rate the film. Same way for a song! This kind of facility is unique in IVRS.
Telecom companies can provide new schemes, services on their customer care number! This we may have experienced quite a time now!

Using Outbound IVRS
Outbound IVRS are those which make outbound calls to a person and provide some information as well as can get some feedback. Predictive dialer, Automatic Dialer are few such IVR Applications.
Using outbound IVRS as advertising tools has been there for quite some time now! Predictive Dialer is a kind of IVRS which is connected to a telephone database and it retrieves telephone number from this and makes outgoing calls. It tries to gather few information from the called person before it transfers the call to a live agent. Outbound IVRS can advertise the following way

1. Advertise about product after the connection. Give the called person option to rate the product, to give feedback in voice, to record if he is interested in the product and know further. Depending on the customer’s choice, IVRS can either transfer the call to a live agent or store the number is prospective client.

2. During election, candidate can make a “Vote for me” appeal on phone!

3. Various queries, opinion polls can be conducted.

4. Telecom companies can announce new services, schemes and prompt subscribers to avail them.

5. In medical industries, outbound IVRS can be used to advertise new drugs, its feedback. It can also prompt patients about daily medicines.

6. Many campaigners like awareness program can be undertaken effectively. For example, AIDS awareness, Pulse Polio Drops, Road Safety etc.

IVRS applications in Banks are known as Phone Banking. Every modern bank now a days uses IVRS as phone banking. Phone Banking on IVRS help bank provide the following services to its customers:-

1. It serves customer with routine checking of balance.
2. It can give status of issued check as well as make stop payment to checks as per check number.
3. It can place request for issuing new checkbook, demand draft.
4. Voice Recognition as well as DTMF pin authorization can be used for verifcation of caller apart from registered phone or mobile phone for phone banking operation for enhanced security.
5. Outbound IVR can alert customers of high value check clearance, withdrawal as well as authorization to prevent fraud.
6. Customer will be able to request Cash Delivery to home.
7. Customer can place request for address change.
8. Customer can request for transferring to his other same bank account like DEMAT account which now every bank has.
9. Customer can alerted of low balance with outbound IVRS.

Benefit of banks:
1. It will serve its customers better, also it will help bank build customer profile.
2. It will decrease customer footfalls in banks premises which is essential now a days with security concerns.
3. It will reduce cost of operation for banks.

Benefits to Customer
1. Customer can bank from home, office without needing to travel to bank.
2. Customer gets alerted for every banking transaction.
3. Customer can feel more secure about his/her banking transactions.
4. Customer can bank even when he does not have internet access.
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Typical call flow of Phone banking IVR application

1. Customer Calls and greeted.
2. Ask customer account number and authorisation code.
3. Ask for voice verification.
4. Menu for Banking Operations.
5. Option to speak to customer care or bank executive.
6. Press Banking menu key.
7. Press required digits.
8. Confirm Action.
9. Repeat #4 through #8.

Hardware and Software:
For a large bank, it should use Digital CTI card. Customised software is better option for banks and it will need to integrate with existing Banking Software. Many banking software should support IVR operations.