Is your contact center beginning to show its age? With the rise of digital engagement and ever-increasing customer demand for more efficient and personalized service, companies are facing the reality that upgrading their contact center infrastructure is essential for staying competitive.
It can be a challenge to justify the need for a contact center modernization project. Some executives might take a “why fix what’s not broken” stance. Others may not understand the financial impact, or the damage to your brand when your contact center doesn’t meet the demands of today’s consumers.
To get top level buy-in for a contact center makeover, it’s necessary to arm yourself with a clear plan that details exactly how modernization will boost agent efficiency, lower costs, and increase revenue. When you’re able to talk about the very measurable benefits of a modernized contact center, you’ll find it much easier to get everyone on board and enthusiastic about the project. You can point to results from companies such as Overstock.com, which saved over $13 million dollars while significantly decreasing hold times and abandonment rates. Other companies you may can reference to bolster your business case include British Telecom, Banco de Chile, and Vodafone.
Adopting a modern system of engagement can profoundly improve agent efficiency in a variety of ways. By detailing how it can maximize the productivity of your contact center workforce, you’ll certainly generate interest from the executive team.
First contact resolutions and average handle time can be improved substantially with the help of modernization tools such as speech analytics and a knowledge management system. Speech analytics can help identify problem areas in routing and processes so you can smooth out customer journeys. Knowledge management systems empower agents with access to information they need to answer questions and address issues quickly. Together, these solutions drive an increase in first contact resolution, which ultimately reduces labor costs and improves the customer experience.
An omnichannel desktop is yet another solution to improve efficiency by giving agents immediate access to a customer’s history across every channel and touchpoint. With the majority of customers today engaging with companies over multiple channels, this solution can provide valuable contextual data that can reduce average handle time and increase annual savings.
Do you have more than one contact center site? Virtualizing your resources can help optimize staffing across multiple sites and teams. When virtualization is combined with intelligent routing strategies, customers get faster responses to their inquiries, and your contact center occupancy rates improve by 15% or greater.
Lower Infrastructure Costs
If you have a system that is several years old, a careful evaluation of the cost of infrastructure upgrades versus the investment in new, consolidated, open-standards architecture can be very beneficial. Decision-makers are often shocked by the costs of maintaining and upgrading infrastructure that is past its prime. Upgrades, migrations, maintenance, and proprietary hardware are expenses that often grow as your contact center infrastructure ages. And yet this increasingly costly foundation may not be sufficient if you’re planning on adding offices or new contact channels.
Studies show that by shifting your voice infrastructure onto a software-based platform, you may realize an annual savings of $300 per agent.
Will we see more revenue? This is perhaps the most asked question from those who are assessing the value of a contact center modernization project. It’s also one of the easiest questions to answer!
By creating a modern, omnichannel customer experience, customer retention soars. According to a report from the Aberdeen Group, companies that connect their customer service channels report 89% customer retention, compared to 33% for those that haven’t. Aberdeen also tells us a higher retention rate can increase revenue from 26 to 35%. That makes it easy to see the value of modernization.
With intelligent routing and greater contextual awareness, sales-closing ratios and new opportunities for upselling and cross-selling increase. This strengthens the point that modernization will directly increase revenue.
Making the commitment to undergo a contact center modernization project requires careful analysis. Yet, by reviewing the positive impact modernization will have on agent efficiency, infrastructure costs, and revenue, you’ll find its long-term value outweighs the status quo with an infrastructure that is only becoming more obsolete.
Want to learn more about building a case for contact center modernization? Read our white paper that delves deeper into how to help you build your case.