digital channelsYou see it, you like it, you buy it. Well, actually, if you’re like most of us, you see it, you like it, read reviews — and then take a look at the price tag. Is it too expensive? Do I need it? What value will I derive from it?

Whether deliberating a personal or business purchase, when we’re answering questions like these we’re essentially building the business case for what we want to buy. Perhaps another question to ask ourselves is this: what is the cost of doing nothing? This is especially pertinent as we weigh investments in contact center modernization.

As contact centers evolve into omnichannel systems of engagement, a plethora of technologies instantly become beneficial. Whether it’s web chat, speech recognition, social analytics, an omnichannel agent desktop, or full multimodal omnichannel journey management, there is a growing list of customer experience solutions that can deliver real business value to companies.

Industry experts and research tell us companies that manage end-to-end customer journeys across multiple touchpoints and channels can build a significant competitive advantage, reduce customer churn and differentiate the brand from competitors. At the same time, a recent Econsultancy report shows that 83% of online shoppers need support to complete a purchase, and 57% prefer to interact via live chat. A couple of years ago, web chat was a ‘nice-to-have’ and now it has become a customer expectation around the world.

Frost and Sullivan analyst Brendan Read in his blog titled, Make Providing a Superior Customer Experience Your New Year’s Resolution, writes that chat, mobile apps, social, video, and web channels in general will increase – and agents will need to send immediate and visual responses, such as links, images, clips and documents.

As smartphone screens continue to expand and more consumers use them as their primary device, Art Rosenberg in Customer magazine says contact centers are evolving to unified business interaction centers. He projects mobile customers will increasingly access live assistance contextually from within a mobile app.

The Cost of Doing Nothing

The message is plain and simple – there is a cost of doing nothing. If today’s contact centers don’t stay current with evolving customer and business needs, companies pay the price of lost customers and poor reputations.  Yet, finding the budget dollars to fund contact center modernization is still a challenge within many businesses.

If you are facing the challenge of finding budget to modernize your contact center, check out our Tip Sheet titled, Building the Business Case for ACD Replacement. You’ll learn new ideas for making the business case for your contact center.

Once you’ve created and prioritized your contact center modernization ‘to-do’ list, we can help you make the business case for investment. Our Financial Analysis team, working with our Business Consulting team, has built a robust set of ROI tools to help you craft a cost benefit analysis tailor-made for your own company. Click here, and we’ll get started!