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Call Transcription Accuracy: Comparing the Best Solutions for Compliance, Quality, and Performance

Writer: Anna WilsonAnna Wilson
Mar 25 min read

Updated: Mar 3


Call transcription accuracy is paramount for regulated companies to ensure accurate quality assurance analysis and to maintain compliance.
Calls are recorded and transcribed across regulated businesses to ensure compliance and for improved customer service.

Introduction

For those companies operating in heavily regulated industries such as financial services, healthcare, and legal sectors; accurate call transcription is no longer a luxury; rather, it’s a compliance necessity. Organisations that rely on call recordings for regulatory adherence, quality assurance, and risk mitigation must ensure that transcriptions are both highly precise and secure.


However, not all transcription solutions are created equal. The difference between a 98% accurate transcript and an 85% accurate transcript could mean the difference between a compliant organisation and one facing regulatory penalties. Given the complexities of accents, industry-specific terminology, and background noise, the need for AI-powered solutions that offer near-human transcription accuracy has never been more critical.


Key Takeaways:

  • Learn why call transcription accuracy matters in regulated industries.

  • See how AI-powered solutions compare in accuracy, compliance readiness, and efficiency.

  • Understand why Audire.ai leads the market in transcription accuracy and compliance automation.


Want to eliminate compliance risks? Request a demo of Audire.ai to see how AI-powered transcription transforms compliance monitoring.


Understanding Call Transcription Accuracy


What Defines Call Transcription Accuracy?

Call transcription accuracy is primarily measured by Word Error Rate (WER), which determines how many words in a transcript are incorrect, missing, or substituted. A low WER indicates a highly accurate transcription system.


Key factors influencing accuracy:

  • Audio Quality & Background Noise – Poor recordings decrease transcription precision.

  • Speaker Diarisation – The ability to distinguish different speakers in a call.

  • Industry-Specific Terminology – Understanding financial, legal, or medical jargon.

  • AI vs. Human Transcription – AI-powered models continuously improve through machine learning, but human oversight may still be needed for critical applications.


Industry Benchmark: Human transcribers have an average WER of ~5%, whereas AI-driven solutions range between 4.9% and 20%, depending on the provider and complexity of the audio.


"If it isn’t documented correctly, it didn’t happen." – A common compliance principle highlighting the necessity of accurate call transcription.

Comparing the Leading Call Transcription Solutions


How We Evaluated Transcription Accuracy

For regulated industries, WER (Word Error Rate) is the most critical benchmark for evaluating transcription solutions. A lower WER ensures greater transcription reliability, reducing the risk of compliance violations and misinterpretations in legal, financial, and healthcare settings. Our evaluation methodology prioritised real-world conditions, using long-form calls taken from busy call centres to create an accurate comparison of how these transcription solutions perform in dynamic, high-noise environments. This approach ensures that our results reflect the actual challenges faced by businesses that depend on precise call transcripts for compliance and quality assurance.


To maintain full transparency, we have made all data used in our testing publicly available, allowing businesses and industry professionals to review the real-world performance of these solutions for themselves. While some AI models prioritise real-time processing for live transcription, these often compromise accuracy, making them less suitable for industries where verbatim accuracy is required.


Results from Open Accuracy Testing

Provider

Word Error Rate (WER)

Audire.ai

8.95% (Best in Class)

OpenAI Whisper

9.67%

Amazon Transcribe

11.3%

Speechmatics

13.4%

Deepgram

16.1%

Google Cloud STT

19.2%

Why Audire.ai Stands Out:

  • Industry-leading accuracy (98.7% transcription precision for business calls).

  • Automated compliance monitoring, detecting regulatory breaches in near real time.

  • ISO27001 & HIPAA grade redaction to meet strict industry security standards.



Key Factors That Impact Call Transcription Accuracy


Audio Quality & Background Noise

The quality of audio recordings is a significant determinant of transcription accuracy. Background noise, low-quality microphones, and distorted speech can lead to higher Word Error Rates (WER). Businesses operating in busy call centre environments must ensure they use noise-cancelling microphones and high-quality recording systems to improve transcription reliability.


Speaker Diarisation & Multi-Speaker Environments

Accurate transcription requires precise speaker differentiation, particularly in conference calls, legal depositions, and multi-party conversations. Advanced AI transcription solutions, like Audire.ai, leverage speaker diarisation technology to correctly attribute speech to different speakers, enhancing transcript usability and compliance alignment.


Industry-Specific Terminology & Jargon

Legal, healthcare, and financial sectors use highly technical and compliance-sensitive terminology. Generic transcription models may struggle with acronyms, regulatory terms, and domain-specific vocabulary. Custom AI models, such as those offered by Audire.ai, are trained on industry-specific datasets, ensuring greater accuracy for regulated businesses.


AI & Machine Learning Enhancements

AI-driven transcription solutions continuously learn and improve based on the data they process. The integration of Large Language Models (LLMs) in transcription systems enhances contextual understanding, reducing errors in complex call transcripts. Businesses that prioritise cutting-edge AI transcription models benefit from higher accuracy over time.


Case Studies: When Poor Call Transcription Led to Regulatory Fines


Regulated companies have faced significant fines due to transcription errors and compliance failures:


  • Goldman Sachs was fined $5.5 million by the CFTC for failing to record and transcribe trader calls, violating recordkeeping rules.

  • Virtua Medical Group paid $418,000 in fines for a medical transcription data breach, exposing patient records online.

  • Law enforcement transcription errors led to wrongful arrests, as seen in the Carlos Ortega extradition case, where a flawed transcript misattributed key statements.

  • UK telecom provider True Telecom was fined £300,000 for failing to maintain accurate customer call records, leading to mis-selling violations.


These cases highlight the risks of inaccurate call transcription, from compliance failures to reputational damage. Ensuring high transcription accuracy is crucial to avoiding legal and financial repercussions.


 
Accurate call transcription is essential in regulated industries

Try Audire.ai's best-in-class call transcription for free


Don't just take our word for it. Contact Audire.ai today and test our world-class transcription and compliance monitoring software free of charge.





 

FAQs


What is a call transcription?

Call transcription is the process of converting spoken language from phone calls, meetings, or conversations into text format. This is essential for record-keeping, compliance, and quality assurance, especially in regulated industries like finance, healthcare, and legal services.


What is the best transcription software?

The best transcription software depends on your needs, but for highly regulated industries requiring accuracy and compliance, Audire.ai offers best-in-class transcription accuracy (8.95% WER). Its AI-driven models ensure industry-specific terminology recognition, real-time compliance monitoring, and data security.


Is there an app to transcribe phone calls?

Yes, there are various apps available for transcribing phone calls. Audire.ai provides a business-grade transcription solution for companies that require accurate, secure, and regulatory-compliant transcriptions. It seamlessly integrates with enterprise systems to capture and process call data automatically.



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