MyServiceAgent is a tech startup that provides businesses with a range of tools to improve their customer experience. It was founded by Ugochukwu Okoro (CEO) and Joshua Olatunde (CTO) in 2021. For customers of onboarded businesses to call in and have their issues addressed.
Customer service is an important part of any business. Such bad customer service can lead to a high churn rate. To some extent, many Nigerians can relate to having challenges while contacting the customer service department of businesses. Especially those in Nigeria’s telecom industry. For example, when you call a telecom customer service, their voice prompt will ask you to wait.
Since the response is not instant, you have to wait for a while before being attended to. In the end, the customer service agent may not even be able to reply accurately to your inquiries. Thus, the founders of MyServiceAgent created a voice-based customer engagement technology platform powered by artificial intelligence. Simply to help businesses solve their customer experience challenges.
What does MyServiceAgent offer?
Firstly, MyServiceAgent offers a Smart Interactive Voice Response as its flagship product. This IVR enables companies to interact with as many as 1,000 customers at the same time while giving individual responses. It does this by incorporating a business’s CRM system within the IVR.
Not only does it provide a module that acts as a CRM platform, but it also helps businesses set up a virtual call centre. The IVR can pick up conversations from where they ended and initiate subsequent calls with a customer.
A rather unique feature of the IVR is that it allows customers to use virtual call services without an Internet connection. Secondly, it provides a Voice-powered OTP authentication that delivers timely verifications and authentication alerts to your customers via its voice and SMS services.
The OTP protects users against account takeover, unauthorised access and fraudulent activities. What’s more, No internet connection is required, and it is easy to integrate. Lastly, you can send 99.9% reliable and secure OTP to your customers globally. Other products include a survey and business messaging service for companies.
MyServiceAgent business model
MyServiceAgent is not a non-profit organisation. Hence it generates revenue for its subsequent operations and scaling through its B2B model. What this means is that its target customers are businesses rather than individuals. Businesses will need to buy credit to be able to use the platform.
MyServiceAgent deducts from this credit based on usage. So it’s safe to say that the platform also uses pay as you go system and charges a base fee of ₦250,000 ($500) to set up a virtual call centre.
For calls, customers are charged ₦7.50 ($0.015) cost per minute for calls made to onboarded businesses. Similarly, outbound calls by the business are charged ₦30 ($0.06) per minute with speech recognition. Note that for both inbound and outbound calls to the function, a business needs to have credit. Except for the one-time virtual call centre set-up fee, every service is on a pay-as-you-use basis.
Accordingly, the startup is working hard to reduce the costs for businesses to ensure that small businesses can afford to use its services.
What MyServiceAgent is doing
Since its official launch in January 2022, the startup already has customers such as AltSchool, Opay, TalentQL, Truq, Uncommon Digital Vas, Akin Fadeyi Foundation, Bumpa etc, with more going through the onboarding process. And it’s currently planning to move into other African markets like Ghana and Rwanda, with talks ongoing with a potential partner in Ghana. Lastly, it’s working to attain a unicorn status in the next five years.Featured Image Source: Techpoint Africa
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