diff --git a/components/gong/actions/retrieve-transcripts-of-calls/retrieve-transcripts-of-calls.mjs b/components/gong/actions/retrieve-transcripts-of-calls/retrieve-transcripts-of-calls.mjs
index ef503c7080471..5c37201adccb5 100644
--- a/components/gong/actions/retrieve-transcripts-of-calls/retrieve-transcripts-of-calls.mjs
+++ b/components/gong/actions/retrieve-transcripts-of-calls/retrieve-transcripts-of-calls.mjs
@@ -5,7 +5,7 @@ export default {
   name: "Retrieve Transcripts Of Calls",
   description: "Retrieve transcripts of calls. [See the documentation](https://us-66463.app.gong.io/settings/api/documentation#post-/v2/calls/transcript)",
   type: "action",
-  version: "0.0.2",
+  version: "0.0.3",
   props: {
     app,
     fromDateTime: {
@@ -35,6 +35,13 @@ export default {
         "callIds",
       ],
     },
+    returnSimplifiedTranscript: {
+      type: "boolean",
+      label: "Return Simplified Transcript",
+      description: "If true, returns a simplified version of the transcript with normalized speaker IDs and formatted timestamps",
+      optional: true,
+      default: false,
+    },
   },
   methods: {
     retrieveTranscriptsOfCalls(args = {}) {
@@ -43,21 +50,101 @@ export default {
         ...args,
       });
     },
+
+    millisToTimestamp(millis) {
+      const totalSeconds = Math.floor(millis / 1000);
+      const minutes = Math.floor(totalSeconds / 60);
+      const seconds = totalSeconds % 60;
+
+      return `[${minutes.toString().padStart(2, "0")}:${seconds.toString().padStart(2, "0")}]`;
+    },
+
+    simplifyTranscript(originalResponse) {
+      const simplified = {
+        ...originalResponse,
+        callTranscripts: originalResponse.callTranscripts.map((callTranscript) => {
+          // Create a map of unique speaker IDs to simplified names
+          const speakerMap = new Map();
+          let speakerCounter = 1;
+          let currentSpeaker = null;
+          let currentTopic = null;
+          let formattedTranscript = "";
+
+          // Process each sentence maintaining chronological order
+          const allSentences = [];
+          callTranscript.transcript.forEach((segment) => {
+            segment.sentences.forEach((sentence) => {
+              allSentences.push({
+                ...sentence,
+                speakerId: segment.speakerId,
+                topic: segment.topic,
+              });
+            });
+          });
+
+          // Sort by start time
+          allSentences.sort((a, b) => a.start - b.start);
+
+          // Process sentences
+          allSentences.forEach((sentence) => {
+            // Map speaker ID to simplified name
+            if (!speakerMap.has(sentence.speakerId)) {
+              speakerMap.set(sentence.speakerId, `Speaker ${speakerCounter}`);
+              speakerCounter++;
+            }
+
+            const speaker = speakerMap.get(sentence.speakerId);
+            const timestamp = this.millisToTimestamp(sentence.start);
+
+            // Handle topic changes
+            if (sentence.topic !== currentTopic) {
+              currentTopic = sentence.topic;
+              if (currentTopic) {
+                formattedTranscript += `\nTopic: ${currentTopic}\n-------------------\n\n`;
+              }
+            }
+
+            // Add speaker name only if it changes
+            if (speaker !== currentSpeaker) {
+              currentSpeaker = speaker;
+              formattedTranscript += `\n${speaker}:\n`;
+            }
+
+            // Add timestamp and text
+            formattedTranscript += `${timestamp} ${sentence.text}\n`;
+          });
+
+          return {
+            callId: callTranscript.callId,
+            formattedTranscript: formattedTranscript.trim(),
+          };
+        }),
+      };
+
+      return simplified;
+    },
   },
-  run({ $: step }) {
+
+  async run({ $: step }) {
     const {
-      // eslint-disable-next-line no-unused-vars
-      app,
       retrieveTranscriptsOfCalls,
+      returnSimplifiedTranscript,
+      simplifyTranscript,
       ...filter
     } = this;
 
-    return retrieveTranscriptsOfCalls({
+    const response = await retrieveTranscriptsOfCalls({
       step,
       data: {
         filter,
       },
       summary: (response) => `Successfully retrieved transcripts of calls with request ID \`${response.requestId}\`.`,
     });
+
+    if (returnSimplifiedTranscript) {
+      return simplifyTranscript(response);
+    }
+
+    return response;
   },
 };
diff --git a/components/gong/package.json b/components/gong/package.json
index a19f959b525f9..1d792f2301947 100644
--- a/components/gong/package.json
+++ b/components/gong/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@pipedream/gong",
-  "version": "0.1.1",
+  "version": "0.1.2",
   "description": "Pipedream Gong Components",
   "main": "gong.app.mjs",
   "keywords": [