News

Record Bookings and Speech Data Processed Demonstrate Importance of Technology to the Market

PITTSBURGH, Jan. 21, 2020 (GLOBE NEWSWIRE) — Voci Technologies, a leading provider of automated speech recognition technologies for contact centers, today announced that in 2019 it achieved record bookings and growing marketplace awareness, as companies recognize the benefits that speech-to-text technology offers.

Outpacing the Market

2019 ended with another strong quarter of growth for Voci. In Q4 2019, Voci Technologies achieved a 63% increase in bookings over the prior year. For the full year, Voci bookings expanded by 61%.

Voci’s growth was over three times the global speech-to-text market projected compound annual growth rate of 20% (source: Research and Markets Speech-to-text API – Global Market Outlook).

Growth at Voci was based on an ever expanding foot-print in the contact center space. Voci Technologies achieved a record 73% increase in contact center data processed over the same quarter last year.

“Speech transcription is rapidly becoming table stakes for companies looking to stay competitive in the contact center space. As the technology has matured and our partners have been able to demonstrate clear ROI’s to their customers, adoption has expanded rapidly.” said Michael Coney, CEO, Voci. “Our ability to increase our partner’s ability to increase ROI for their end users has been facilitated by continuingly making improvements to accuracy and expanding our real-time capabilities.”