IVR has become such an imperative part of day-to-day life that we often use it to know our bank balance, telephone bills, credit card bills, booking tickets, ordering medicines and what not? It eliminates the need of live human agent because all the interaction takes place with touchtone keypad. User can establish a limited interaction with the company’s database. It also carries an option to talk to the live executive, if need arise. It is also used by private as well as non-profit and government organizations to conduct surveys, reporting emergency, schedule meetings and appointments. The more recent IVR versions also incorporate TTS (text-to-speech) functions, which makes it even more useful to convey weather reports, stock market information, current news and traffic status.
To conduct surveys, IVR also makes outgoing calls. For this purpose, a pre-recorded voice offer people a set of questions with some simple choices like ‘yes’ or ‘no’ or ‘may be’. It also takes voice responses, while the answers can also be procured through a touch-tone keypad like press “1” to check your account balance, “2” to change your pin code and so on…
This way, galore of work can be done by an IVR system, without involving any human agent.
IVRs can be installed within office premises as well as hosted IVRs. In hosted IVR systems the setup is located at service provider’s end and is being joined with the client’s network. Though, it has its own advantages and disadvantages. A hosted IVR saves the expenses of installation and employing a team of IVR experts but at the same time it may include such features that do not follow your business requirements.
Thus whatever type you choose, an IVR is committed to benefit your business enormously, while reducing your human resource expenses.

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