Contact Center Technology that Pays for Itself
Not only have they been forced to reinvent their processes to support work-from-home strategies, but they are being challenged to simultaneously increase revenue and call center ROI too.
It’s easy to argue for new technology boosting ROI, as most additions will tease out new channels and potential opportunities to improve customer experience. And with nearly $75 billion lost each year to poor customer experience, it’s easy to see how modest CX improvements can generate huge revenue results for call centers.
So, when you don’t have the luxury of working closely with your call center agents, how can you ensure that your contact center technology is putting more money back into your business?
Here are some of the call center technologies that make it easy to calculate ROI, so you don’t have to slow down
Voice Analytics and Artificial Intelligence
Want to build robust customer relationships? Listen closely.
Voice analytics and speech AI tools have become one of the most powerful additions a call center can make in 2020.
Consider the insight gap between call center leaders capturing data from 100% of their agent’s calls versus contact centers that are deploying manual QA processes across less than 1%.
Modern voice analytics systems can measure customer sentiment, automatically remove sensitive information from transcripts and records, and highlight areas for agent coaching if they detect prolonged silences or excessive call times.
Simply put, agents serve customers more quickly and deliver more revenue.
Here are the easiest metrics to highlight the impact of voice analytics in your call center:
- Reduce Average Handle Time for agents.
- Improve First Call Resolution for customers.
- Increase significant insights into the customer conversation.
- Boost efficiency and reduce hiring needs.
- Develop consistent coaching methods that are transparent to the agent.
- Help improve your coaching effectiveness immediately
IVA and Bot Technology
Everyone knows the common adage: it’s easier to keep a customer than earn a new one. But what motivates consumers to engage with a brand?
That’s why IVAs (Intelligent Virtual Assistants) and chatbots have emerged as a huge technology boost for call centers.
Your products and services will always be the main focus — but in highly competitive markets, with plenty of consumer choice, sophisticated conversational IVAs can deliver a huge ROI for your target customers.
IVAs can quickly survey and extract useful data, ask questions, and rapidly resolve customer queries, without ever needing an agent. Better yet, IVAs can quickly accelerate customers to an in-person rep when personalized service IS required.
Contact centers that have applied advanced analytics technology to improve self-service applications have reduced their average handle time by as much as 40% while boosting call-to-conversion rates by nearly 50%, and increased customer satisfaction by 250%, boosting customer retention rates by nearly 90%.
For contact center leaders, there are three key ways IVAs pay for themselves:
- Higher YOY financial revenue growth.
- Increased agent efficiency.
- Improved CSAT and customer experience.
Robotic Process Automation
While IVAs and AI technologies often focus on driving ROI through customer experience, Robotic Process Automation (RPA) tools tend to pay off big for your agents, boosting their development, performance, and morale.
RPAs in call centers help capture all the important information an agent needs to serve customers in real-time, reducing the time it takes an agent to understand who they’re talking to.
In an industry where keystrokes can cost millions — and connecting with the right person at the right time is paramount — RPA solutions sharpen processes you already execute.
Instead of agents tediously scheduling follow-up emails after every customer call, an RPA can automate this ongoing task so agents can focus on execution.
Consider any number of simple but time-consuming efforts your agents tackle every day (it’s easy if you just ask them) — now multiply these tasks over days, weeks and even months. Saving your agents as little as ten minutes a day by removing tedious tasks equals more than a week’s worth of work you get back each year per agent.
Just run the math in your head and see if that much extra productivity is worth it.
The most common RPA benefits that met or exceeded expectations, according to a survey by Deloitte, include:
- Improved compliance coverage (92%)
- Improved work quality/accuracy (90%)
- Improved productivity (86%)
- And cost reduction (59%)
Contact Center Tools That Pay You in Dollars and Sense
Picking the right contact center technology is essential to securing meaningful ROI. If you want to make sure your time and effort helps you deliver results, consider working with an expert team.
Cloud Call Center Search has worked with leaders for more than 30 years, delivering contact center technologies that meet the unique needs of a wide variety of organizations across industries.
Want technology ROI that pays for itself. We should talk!