Vernacular.ai Revenues Have Doubled Driven by the Adoption of Customer Experience Automation through Voice AI
Bengaluru: In the last quarter, Vernacular.ai reported that it has doubled its revenues and witnessed a surge in enterprises moving to AI-powered call center solutions. The impending pandemic and subsequent prolonged lockdowns have intensified this strategic focus on transitioning to a more dynamic and scalable operational model, allowing organizations to respond quickly to unpredictable market shifts with long-term solutions.
Vernacular.ai, an AI-first SaaS business that helps enterprises automate call center queries using multilingual voice automation platform VIVA, is helping more than 20+ enterprise customers compete, address customer queries, and reinvent themselves. This Bengaluru-based startup is seeing a pronounced increase in demand and new client signups, as the ongoing pandemic continues to drive automation across sectors. Vernacular.ai is now experiencing shorter sales cycles, closing deals quickly and with ease – deals which would have otherwise taken a longer duration or even a year’s time, are being closed within a couple of weeks.
“The demand is not only in India but we are seeing great traction in markets such as Southeast Asia and the U.S.A. We are in the process of expanding our operations into these new markets, by implementing and leveraging the strategies already deployed in a diverse market like India, to help us penetrate these newer segments and drive automation globally. By the end of the financial year, we expect to churn 20% of our revenue from outside of India,” says Sourabh Gupta, Co-founder and CEO of Vernacular.ai.
As companies across the country grappled with changing working conditions, transitioning from office to a home environment, many were overwhelmed by the surge in customer support queries that forced enterprises to consider products like VIVA to automate their customer contact center operations, saving employees time to deal with more complex, value-added tasks. According to Pindrop Pulse Flash Report, in the early stages of the pandemic, call volumes to enterprise call centers climbed 300% in just days, and by the later stages call volumes shot up to 1000% from normal levels.
Sourabh further adds, “Here, at Vernacular.ai, we have helped enterprises seamlessly automate over 80% calls. Currently, VIVA handles an approximate call volume of 20 Million month on month, delivering over 90% of call resolution rate, thereby boosting savings by 30 to 50% using the platform and its contextual transfer feature.”
VIVA uses cutting-edge natural language understanding (NLU) and speech recognition technology and supports around 10 Indian languages while enabling hyper-personalization of customer calls with its ability to understand the various characteristics of the speaker.