How a Real Estate VA can grow your Business While Saving You Time & Money

Many choose a career in the real estate business because they enjoy the adrenaline of closing deals, persuading owners to list their buildings with them, or assisting clients to invest in real estate. However, this demands a significant amount of legal documentation, accounting work, cold calling, deal coordinating, and social media marketing. While these are very necessary for operating a business, except for closing a deal, none of the others yield any revenue.  Recruiting multiple staff to work on these tasks might be pricey due to employee wages, payroll taxes, insurance, and paid holidays. If you own a real estate business, this is the perfect time to look into outsourcing real estate virtual assistant services.

Having a real estate virtual assistant will improve brand awareness, save you time and money, and benefit your clients and your company. There are many advantages to outsourcing certain services to Virtual Assistant Assistant or other such businesses, including cost savings and consistency in workflow. Before discussing these advantages, let us look in detail at what a real estate virtual assistant means and the tasks that can be outsourced to such services.

What Is a Real Estate Virtual Assistant?

A real estate virtual assistant is a virtual professional that may assist you in operating your real-estate company by providing specialized services. By delegating tasks to a virtual assistant, you can concentrate on growing your business and achieving your targets. 

Real estate virtual assistants are capable of handling a variety of responsibilities, including making sales calls, managing social media accounts, listing products on third-party platforms, administering advertising and promotional activities, bookkeeping, and office administration. Virtual Assistant Assistant is a one-stop platform to meet all your requirements. With major companies like ClearDesk, Remote CoWorker, MyTasker, Time Etc, and Belay, you can read reviews on this site to find the right fit!

The Benefits of Hiring a Virtual Assistant for Your Real Estate Firm

• Get Daily Chores Up-to-date

Since real estate agents are always on the road, it can be difficult to keep up with daily chores such as e-mail monitoring, calendar management, and sales calls. With the help of a real estate virtual assistant, you can complete all your tasks at an affordable price.

• Reduce Hiring Expenses

Hiring an employee can mean expenses like social security benefits, payroll taxes, medical insurance, and compensation. With a real estate virtual assistant, you have a full-time individual helping you operate your business without such costs. Since you are hiring a well-trained virtual professional, you will not need to spend your time training these virtual assistants. Additionally, there are no sick leaves, overtime expenses, or paid vacations to worry about. Furthermore, you don’t need a physical office, laptops, or other supplies with remote assistance.

• Updated Technology

A CRM to track leads and manage pipelines, social media tools to publish newsletters or stay in touch with clients, and mobile web platforms to maintain your listings and database are critical in the real estate business. You will require an expert who is proficient on various platforms and has technical expertise. A trained virtual assistant is a wise investment and will spare you a lot of hassle.

• Hiring During Peak Season

When there is a sudden increase in workload, it is challenging to hire staff at immediate notice. At the same time, during the low season, when you can manage the business on your own, paying staff may be a burden. Since you will be paying your virtual assistant on an hourly basis the majority of the time, it is efficient and easy to hire such services on demand.

• Work Quality

Real estate virtual assistants are subject matter professionals. You get the best work at an affordable price to maintain online listings, lead generation via sales calls, web content, financial forecast, social media management, market analysis, and CRM software administration.

Tasks Your Virtual Assistant Can Do for Your Real Estate Firm

1. Data Entry

If your schedule is hectic, you may not have time to update valuable information like your client’s name and contact information to keep it relevant. Though simple, this takes a lot of time and is crucial for your business. With a virtual assistant, you can outsource basic data entry and keep them professionally structured.

2. Accounting

Keeping track of your expenditures and revenue is critical for any business to assess its financial performance and make well-informed business decisions. A real estate virtual assistant will provide you with direct access to all financial information and help you decide what needs to be altered to make your business a success.

3. Cold Calling

Cold calling requires significant conversational skills even though it is a monotonous task. This is one of the most effective real estate marketing techniques for attracting prospective clients. Give your real estate virtual assistant a list of phone numbers of potential customers to get ready to close more deals.

4. Spreadsheets and Presentations

While spreadsheets can help you keep track of client information and other document details, presentations can showcase a property’s amenities to entice a client to become a buyer. These tasks can be exceedingly time-consuming. The majority of the virtual assistants are proficient in creating spreadsheets and presentations. Use it to your advantage to close more deals.

5. Daily Tasks

Virtual assistants can help you spend more time growing your business rather than wasting it on daily tasks, such as scheduling meetings, updating your work calendars, and answering emails. The majority of virtual assistants have strong communication and language skills which will enable them to complete their tasks swiftly while you increase your earnings.

6. Online Marketing

Your virtual assistant can assist you with managing social media accounts, website content, blogs, e-mail newsletters, infographics, and online ads. Since managing an online marketing campaign is not a simple task, clearing these obligations off your schedule will help your company move along more efficiently.

7. Customer Relationship Management (CRM)

In a competitive market, it is important to constantly remind your customers of your presence. Simple birthday or anniversary greetings, or follow-ups on the house you sold them can boost referrals and generate a lot of business.

While doing these things manually can be difficult, you should get a CRM tool and hire a virtual assistant to help you input all the data into the platform. Using information from the CRM platform, it will send emails to your clients on special occasions.

8. Research

Undoubtedly, one of the most crucial tasks in the real estate sector is research. But doing this can take a lot of time. You will need to examine data like migration rates, mortgage rates, developments, and other real estate factors for your client.

The ideal real estate virtual assistant will conduct in-depth research on your behalf and provide you with a report that has all the essential documentation, such as identifying a property in a particular location, recognizing building owners and their deed type, and authenticating property establishments.

Conclusion

A 99firms analysis revealed that 67% of business owners employed at least one virtual assistant in 2021. Your real estate business should be all about stability and progress. To succeed in your business, be sure to hire a real estate virtual assistant so that you can concentrate on more important tasks.  Hiring a virtual assistant might just be the very solution you need to enable your business to thrive.

 

 

 

 

Author: Alex Shvarts is the CEO of FundKite, one of the fastest-growing FinTech companies in New York that provide funding to small businesses across the U.S. Founded in 2015, Alex’s business utilizes a boutique funding style, offering business owners a flexible variety of products and services that can be tailored to fit their individual financial situations. Prior to founding FundKite, Alex engineered and sold proprietary technology to the greater FinTech industry.

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​​Ultimate Remote Working Checklist 

Let’s face it, working from anywhere is becoming the new normal for employees around the globe. The COVID-19 pandemic was an unforeseeable and unprecedented event that didn’t allow teams the time or ability to plan for remote work. Instead, businesses quickly implemented emergency procedures and protocols that were never meant to be permanent. 

Teams that ended up loving the flexibility of remote work have been in no rush to return to an office building. In fact, according to the Buffer 2022 State of Remote Work report, 72% of companies plan on allowing at least some amount of permanent remote work. That’s a massive increase from only 46% of companies in the 2021 State of Remote Work report. 

With 97% of remote employees saying that they would like to work remotely at least some of the time for the rest of their careers, employers and decision-makers now have the responsibility to ensure there are protocols in place to make remote working possible and productive. Here are Tools and processes to implement for successful remote working.

1. Onboard New AND Existing Employees

When you think of a typical onboarding process, you probably think of administrative tasks such as new hire paperwork, and HR presentations. However, another essential part of onboarding is making sure that your employees have important documents such as your employee handbook and company policies. They also will need access to the tools and software your team uses. 

Your existing employees should get all of that information and access, especially in regards to your remote working policies. As you go through the rest of this checklist, make sure it isn’t just your new employees who will get this information. 

2. Set Clear Scheduling Expectations

Remote working may be especially beneficial for employees who have other life obligations that they need to dedicate time as well. For example, school pick-up at 3:30 might mean an employee may want to check out from 3-4, and continue working afterwards. 

However, your team needs to decide what the scheduling expectations will be for your entire team. Whether you decide to allow flexible hours based on individual needs, require availability during normal business hours, or have other scheduling needs, you need to be clear with your entire team. 

If you aren’t sure what would work best for your team, we recommend having an open conversation with your existing remote workers to see what their preferences are and why remote working works well for their lifestyle. From there you can begin to develop policies that take their needs into consideration. 

Avoid internal frustrations with inconsistent scheduling policies, and instead, make sure that you have clear and consistent standards set in place. 

3. Invest in the Right Tools

Your team should be set up for success with the right equipment and software to work effectively while remote. We’ve listed a few of our top recommendations for you to consider: 

• Team chat apps such as Slack or Monday.com so that everyone can stay in touch. 
• Time tracking software such as Hubstaff, Workpuls, DeskTime or MyTimeIn.
• Scheduling software such as SimplyBookMe, Appointy, x.ai or Toasty
• Remote desktop software so that your remote workers can still access desktops back at your HQ.
• Video conferencing apps, such as Zoom, help keep your remote workers in touch with your team and clients. 
• A virtual phone system such as Yodel.io or Google Voice so that your remote workers can still communicate with customers, without having to use their personal phone numbers. 
• Online office suites such as Microsoft Office Online so that you can offer web-based versions of tools your team will depend on such as Microsoft Excel. 
• Project management software such as MyTimeIn or DeskTime so that everyone can stay up to date on the status of projects.
• Security tools, including file encryption and secure VPNs so that your important information stays protected. We also recommend password managers, and two-factor authentication.
• Virtual assistants can help you improve your call handling capabilities, and are perfect for remote teams. 

When your team has the right tools equipping them, they’ll be able to be more productive and effective. We especially recommend taking advantage of cloud-based technologies, so that your remote workers can access them from their home offices. 

4. Remove Productivity Barriers 

Check-in with your active remote workers to see if any of the common productivity barriers are an issue. A few of the most common issues include: self-motivation, task prioritization, distractions, poor communication, feelings of isolation, and more. 

Then work to address those issues. Some easy fixes can include having more open and consistent communication, including weekly check-ins with your team. These check-ins will allow managers to help direct task prioritization issues, determine internal deadlines, and can help address feelings of isolation. 

Other tips that we mentioned such as offering task management tools and internal communication platforms can help with communication and productivity issues. Take advantage of different free trials to find the tools that will work well for your team, while addressing the existing productivity barriers. 

5. Facilitate Social Interactions

Make sure that your employees aren’t being overlooked for opportunities, lacking in professional development, or not creating important bonds with their co-workers. When your team is connected on a personal level, it can lead to improved productivity, loyalty, and retention. 

Find ways to host virtual social events such as happy hours or other team bonding activities. There are tons of inexpensive kits that you can have shipped to your employees’ home offices, so that everyone can work on a fun social activity together. If that is out of the budget, you can simply offer standing “social hour” meetings that allow your employees to check in with each other. 

Conclusion

Being able to offer effective remote working policies and tools can help your business thrive. You can also compete for employees who are searching for flexible working opportunities, and take advantage of a global talent pool. 

Make sure that your remote workers are set up for success by implementing these 5 simple steps, and we know that you and your team will appreciate the difference. 

 

 

 

Author: Olivia is a content writer at Yodel.io. She is passionate about helping businesses of all sizes create effective phone communication strategies that will give them a competitive edge. 

 

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How a Virtual Assistant Can Upgrade a Student’s Productivity

In a world that constantly demands more of our time and attention, productivity is key, especially for students juggling classes, extracurricular activities, part-time jobs, and social lives. One solution that’s increasingly popular among students is hiring a virtual assistant (VA). A VA is a remote professional who provides various services, depending on a student’s needs, thereby enhancing their productivity. This article explores how a virtual assistant can be a game-changer for students aiming to excel in their academic journey.

Virtual Assistants: The Secret to Better Time Management

Effective time management is crucial for student success. However, time is often lost in non-academic activities such as email management, appointment scheduling, and even tasks related to academic writing. This is where a VA can make a significant difference. 

Virtual assistants excel in managing tasks such as handling email correspondence, keeping track of academic calendars, and keeping an eye on deadlines for assignments and exams. In response to inquiries like “paperwriter?”, they can provide students with connections to trustworthy academic resources, making it easier for them to tackle challenging assignments. By outsourcing these tasks to a virtual assistant, students can redirect their focus towards studying, actively participating in class, and engaging in other activities that demand their direct attention and involvement.

Improving Academic Performance with a Virtual Assistant

A VA can not only save time but also help students perform better academically. By undertaking tasks like proofreading, data entry, and research, virtual assistants allow students to concentrate more on understanding the core content of their courses rather than the administrative side of academics.

For instance, when working on a research project, a student can instruct the VA to gather articles, data, and other relevant sources. This will save the student hours that could be better spent on analyzing the information and developing a strong argument.

Broadening Career Horizons with a Virtual Assistant

Virtual assistants have the ability to expand your career readiness beyond academic performance. These remote professionals can manage and optimize your LinkedIn profile, highlighting your skills and academic achievements to potential employers. In addition, they can help you stay organized during the often daunting internship or job application process. This includes identifying opportunities, drafting cover letters, and submitting applications on your behalf.

To further enhance your career readiness, VAs can conduct comprehensive research on networking events and relevant industry seminars. By attending these events, you’ll have the opportunity to meet industry professionals, exchange ideas, and gain insights about potential career paths. 

To ensure you make a great impression, a VA can also prepare you for job interviews. They can conduct mock interview sessions, tailor common interview questions to your field of study, and provide valuable feedback for improvement. Through their assistance, you’ll enter every interview with confidence and poise.

Productivity and the Art of Leisure

While work and academics are certainly important aspects of productivity, it’s crucial to remember the value of downtime. Rest and relaxation are vital to maintaining mental health and optimizing productivity. A VA can be instrumental in ensuring you achieve a healthy work-life balance. 

By scheduling time for relaxation and managing your social commitments, a VA helps you avoid burnout. They can even assist in planning leisure activities, whether that involves locating the best local coffee shops for a relaxing afternoon or organizing a weekend getaway for a much-needed break from your academic routine.

Selecting Your Virtual Assistant: The Crucial Choice

Just as you would carefully select the best essay writing services to meet your academic needs, choosing the right VA is crucial for optimizing your productivity. It’s important to look for professionals who are reliable, communicative, and have a solid understanding of the academic environment.

Reliable platforms like virtualassistantassistant.com offer a vast selection of VAs. These professionals are proficient in providing a wide range of services that can be tailored to meet your specific needs. They can be a powerful tool for students, providing essential support in academics, career preparation, and work-life balance. As with any tool, the key to success lies in making the right choice and using it effectively.

Conclusion

For students looking to enhance their productivity, hiring a virtual assistant could be the solution. By taking over administrative tasks, aiding academic performance, preparing for future careers, and ensuring a healthy work-life balance, a VA can transform a student’s college experience. Remember, productivity isn’t just about doing more—it’s about doing more of what matters. With the help of a VA, students can spend their time focusing on what truly counts: their education, their future, and their personal growth.

 

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In her LinkedIn article, BELAY’s CEO, board member, co-host of the One Next Step podcast, and author Tricia Sciortino addresses a relatively new need and demand for businesses everywhere: social media.

Relatively.

Sure, social media is nothing new, per se, but for businesses who want to remain competitive, communicative and connected to their audience, prospects and targets, it’s become much more than a Tweet here and there and some icons in the footer of our websites and emails.

In fact, that doesn’t even qualify as ‘having a social media presence’ now. Because what was once satisfied with some scraps every once in a while has become a full-time job. Even a cursory Google search yields an exhaustive list of social media marketing companies, departments, careers, and even degrees and certifications.

Simply put: It’s not a hobby or a pastime anymore.

But if you’re a small-to-medium business, the thought of hiring someone to manage your social presence seems lofty at best, and decadently impossible at worst.

But consider the findings of a 2019 study on the state of small business marketing:

• The most common platform for building brand awareness was social media marketing, which consistently outranked all other mediums
• The foremost opportunity for gaining new customers is – again – social media marketing
• 73% of respondents reported they would increase spending on social media

What really stood out from the study, though?

“… while social media continues to be a challenge for many small businesses, it can also help small businesses grow their audience and push customers to their site—but only when executed well.”

“But only when executed well.”

So while SMB owners worry that they can’t afford to have someone dedicated solely to social media, they really can’t afford not to. Why?

Because when you think about how social media has – at least in part – leveled the exposure playing field, its opportunities are endless for SMBs to increase brand awareness and new customer gains, and all without paying-to-play like in the traditional advertising and marketing media days of yore.

Have you noticed that you …

1. … need help managing Facebook, LinkedIn, Twitter, Instagram, and other platforms?
2. … need help producing and scheduling content?
3. … need help responding to online inquiries, getting feedback from clients, and sharing customer success stories?

Sure, many business owners would likely answer ‘yes’ to those questions and still manage just fine. But what if a social media manager could take you from managing ‘fine’ to managing ‘great?’

5 Signs You Need Social Media Manager – STAT

A social media manager can help you manage all of your unique social media needs – which can be varied, extensive and exhaustive – and build a strong online presence to get you back to what you love most: running and growing your business.

1. You’re not social-media savvy.

To do something well – not ‘good’ not ‘OK’ but great – you have to understand it. But, admittedly, you don’t so it’s not top-of-mind.

2. You miss messages. 

Whether it’s a Facebook message about one of your products or a Twitter mention you missed from a week ago, you know it should have been addressed sooner – as in ‘within-five-minutes’ sooner to earn the new ‘very responsive to messages’ Facebook badge.

3. Social media is an afterthought. 

As with most things on your to-do list, those you don’t enjoy or understand are often relegated to the way bottom. However, it’s virtually impossible to gain traction in your social presence without proactive execution of a well-thought-out strategy.

4. You already work 40+ hours. 

We know – if you’re a business owner, 40 hours probably seems like a light week. Being an owner is time-consuming – and there just aren’t an extra 30 hours a week left to manage social media.

5. You’re not reaching your targets.

You’re just not converting enough people, gaining enough new followers, or advancing your campaigns.

You need help.

A BELAY Social Media Manager Can Help

You know those menacing red-number notifications and deafening cacophony of ‘pings,’ ‘dings’ and buzzes from your phone, tablet, and computer as prospects and customers alike all engage with your social media?

Their Social Media Manager can handle that.

Or what about when you see no new notifications and are instead met with the deafening silence on all your social media accounts?

Yup, you guessed it: Their Social Media Manager can handle that, too.

This new service line will help you take their social media presence to the next level by managing your social channels, engaging with your audience, and tackling your scheduling to help them stay ahead of your competition and make lasting connections with your community and target audience.

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Pros and Cons of Hiring a VA from the US

You can find virtual assistants or VAs working from different corners of the world. And of course,  there are VAs from one of the pre-eminent developed nations – the USA. Virtual assistants specialize in a wide range of abilities. They can take care of personal tasks, small business-related work, medium business management work, or full-time dedicated services. 

There are individuals or teams of VAs who usually remotely handle different types of tasks for the brands and clients that hire them. However, it is crucial to forecast the benefits of employing a US-based VA compared to VAs with English as their non-native language. 

US-based virtual assistants offer professional assistance and the benefits of outsourcing compared to lower-cost VA options. 

Tasks Performed by VAs 

The most common types of work outsourced to VAs include: 

• Administrative 
• Clerical 
• Data Management 
• Social Media Marketing 
• Web Design & Web Development 
• Content Writing 
• FAQs 
• Call Answering & Customer Service 
• Legal Support 
• eCommerce Support
• Real Estate Support 
• Bookkeeping 

In-Demand Locations for VAs Around the World 

Let us check the most demanding locations around the world in ascending order that requires assistance from VAs: 

USA 

The US is one of the topmost countries that facilitated virtual assistance services in the mid-1990s. Forbes magazine statistics revealed that a large number of US civilians are self-employed. These people need to handle a hefty amount of workload regularly. Outsourcing their work to VAs is their easiest option to get high-quality and accurate output. For example, VAs can track the highest volumes of work in major US cities like New York. 

Canada 

People who live in Canada speak innumerable languages. This has boosted the need for translation services. It also heightened the requirement for corporate and commercial interaction assistance. Most US companies outsource their work to VAs from Canada to avoid delays and get the best services at lower rates. 

Australia 

Australia is a large continent with a limited population. Transport is an irksome factor here. Nevertheless, this boosts the demand for outsourcing tasks for quick and professional output. Since English is the native language of the people in Australia, they prefer to use native English VAs as well. Research and marketing-related tasks preoccupy VAs in Australia. 

Top US VA Companies 

ClearDesk

Clear Desk is a US-based virtual assistant company that provides virtual assistants to entrepreneurs and small to medium-sized businesses all over the world. their pricing packages start at 80 hours per month for $1,250 (approx. $15.60/hr). The reason that hey have a lower hourly rate than most US based VA companies, is that they outsource their services to the Philippines. They also offer VA services in English, French and Spanish!

They offer a 7-day free trial and a free consultation call is offered.

Boldly 

Boldly was founded in 2012 and has team members in North America and Europe. They have a 4.5 customer rating with a minimum hourly rate of $51. Boldly has full-time employees who work as professional VAs and offer dedicated assistance. You can get full team access with Boldly and their minimum subscription package is $1530 for 30 hours. Due to its immense success, Boldly does not offer a free trial. 

Time Etc

This is the second-best US-based virtual assistance company. Time Etc subscription difference compared to Boldly is massive. They offer 10 hours’ worth of work for $290. The company was established in 2007. What makes them special is how they keep track on their website of the number of actual hours they have saved for clients. Time Etc is a great VA services option with full team access, rollover hours, and a free trial. They also have a 4.5 rating for their services and customer support.  

Pros of Hiring a US-Based VA

Communication Flexibility 

Language barriers are eliminated if the VA speaks native US English. It is easier to understand compared to a VA from developing nations. Repetitive explanations can be driven out of the equation with US-based VAs. This helps to save time and money, collaterally. Also, you do not have to sacrifice the quality of work. 

Culturally Accurate 

US-based VAs have a better understanding of the cultural norms that can otherwise be taken for granted. Often, cultural problems can take place when you hire a VA from the global South. However,  US culture plays an integral role in the US-based business climate and market. VAs from the US are culturally better equipped to interact with customers on specific US-related occasions and events. For example, a US-based VA has better insight into the US Real Estate business than a VA from elsewhere. 

Cons of Hiring a US-Based VA

High Subscription Costs 

US-based VA companies have high subscription rates compared to VA services from Canada, Australia, the Philippines, and India. For example, the subscription rate for Boldly, a US-based VA company is more than $1500. This can be the monthly wage of many in developing countries. 

Time Zones May Not Match

Depending on your location and your VA’s location, your time zones may not match. This can be inconvenient for you. Not all US-based VAs will be flexible working odd timings to sync with your time. However, this is where VAs in Asia can go the extra mile and adjust their work schedule to suit your waking hours.  

Find Out the Right US-Based VA for You

The average cost to hire a US-based VA can vary between $25 and $75/hour. This depends on the specialty or complexity of the task at hand. Also, it is important to note that hiring an individual VA will cost less than the services of a virtual assistant company in the US. Nevertheless, a VA company can offer team access that is not possible for an individual alone. ClearDesk, Fiverr, Fancy Hands, and FreeeUp are some of the US-based virtual assistance services to help your small business grow or complete your personal work. Budget, schedule, and communication are the top factors that help to determine the right US-based VA company to meet your unique requirements.  

*Prices accurate at date of publication

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Intelligent Virtual Agent vs. Interactive Voice Response: What’s the Difference and Which Is Better To Use?

Today, every contact center knows what IVR is, and many companies employ this technology successfully. However, since it became commercially available, AI has come a long way and can do much more than provide just a simple voicebox or chatbot.

Customers can become wary of lengthy calls to customer support or long menus on websites, and businesses must enhance their user experience as much as possible. As a result, many companies are dipping their toes into voice recognition self-service to keep up with demand for the first time. These businesses usually come in two types: those that still utilize IVRs and those that opt for a more sophisticated solution – virtual agents.

IVA vs IVR: The Differences

Although these two technologies are similar in purpose and can complete similar tasks delegated to them, it is crucial to distinguish IVA (Intelligent Virtual Agent) from IVR (Interactive Voice Response) and know each system’s limitations.

What Is IVR?

An IVR conversion system — such as the one featured in Phonexa’s all-encompassing call distribution platform, Call Logic — is a type of interactive telephone system that is often used in call centers to route calls to the proper agent and, in some instances, to allow callers to execute self-service transactions. The key advantage of an IVR is that it enables businesses to optimize the customer experience and obtain vital information from the answers provided by individuals who call.

Nowadays, most IVR systems are far from conversational, depending instead on menu browsing via touch-tone user inputs. IVR system costs vary based on which services you use and the technology’s quality. As a rule, IVRs are less expensive than AI-based voice assistants.

What Is an IVA?

An IVA is a digital assistant that mimics the actions of a human agent. It delivers some of the services traditionally given by a contact center representative through human-to-human conversation with users via voice or text channels.

IVA is not a simple voicebot, however. Unlike IVR, IVA can handle more complicated issues and conduct extremely comprehensive exchanges without transferring callers to a live person. Even if the IVA system cannot address all client issues completely, it may nevertheless capture critical information and generate a thorough support ticket, which assists team members in expediting the customer care solution process.

 

The functionality of IVA products may vary depending on where you purchase your software. However, the essential functionality remains unchanged. Virtual agents employ AI, speech recognition, and interfaces with backend systems.

What Can an IVA Do?

Unlike IVR systems that can only redirect customer calls to contact center agents, virtual assistants can not only resolve queries but also enhance the user experience and all that is possible without any human involvement. But if you decide to opt for this technology, you would probably like to know just what IVA is capable of. So here are just a few things virtual assistance can help you with:

 

• Automate tasks and support live agents: IVA’s primary purpose is to save time for your clients and agents. At the same time, a virtual agent reduces the workload of human agents and enables them to automate simple tasks and free up time for more important calls.
• Recognize both speech and text: Modern IVAs can understand and recognize human voices in different languages and respond to your clients’ queries using text-to-speech technology.
• Ability to make callbacks: IVA systems can allow customers to ask for a callback instead of waiting in line during the call. The virtual assistant then redirects the call to the appropriate human agent.
• Biometrics: Similar to IVR, virtual assistants can be used to verify the caller’s identity based on their voice biometrics from previous calls. In addition, voice biometrics can also act as a security measure.
• Sentiment analysis: Some virtual assistants can automatically identify if customers are frustrated and route the call to an agent.

Some of the high-tech IVA systems can sound almost indistinguishable from human agents in regard to simple queries. In addition, modern AI suites allow for a deep level of customization, which allows for designing your virtual assistant capable of doing virtually anything a human agent can.

Pros And Cons of IVA

IVA is one of the most effective tools available today for businesses to empower and improve self-service operations for their clients. Self-service is gradually gaining popularity, as technologically aware clients choose to address service demands on their own before contacting human agents.

If you were hiring a human agent, you would need to consider what languages they know and what type of system they need to work with. IVA agent is similar in terms of these specific skills. You pay them just like any human agent. However, IVA allows you to save money by only training one virtual agent instead of a whole department. It is important to point out that a virtual agent also needs to be prepared with that in mind. However, it takes less time, and AI can start working right off the bat, unlike regular agents.

Virtual agents learn from what they do, conversations, and experiences with clients. Furthermore, depending on their level of expertise, they can learn how to convey the information to live agents, saving your clients time in the long run.

Conclusion

Organizations realize the true potential of AI by going one step further with predictive capabilities to do tasks even faster. After covering what IVR and IVA can offer, let’s take a brief look at your options to determine which solution will work best for your business:

 

• IVR systems are great for smaller businesses and are cheap, but they can lack certain functionality
• IVRs take less time to install and don’t require maintenance often
• IVA solutions offer better flexibility to companies with a more extensive client base but are more expensive
• IVA is a complex solution that requires maintenance more often than traditional IVR systems

Consumers expect companies to have a self-service solution on their websites. So there is little doubt why the use of IVAs increased by 46% in 2020. This trend won’t stop anytime soon, and the IVA systems are becoming more accessible to small businesses and even startups. As a result, we can expect a significant surge in the popularity of virtual agents and IVA systems.

 

 

 

Author: Stanislav Bilenkyi is a content writer at Phonexa. He is passionate about technology and AI which he has covered for over 7 years.

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