Reducing costs has been a trial and mostly error situation over the years. Repeated implementation of chatbots to IVRs, and the constant efforts invested in call centers have ultimately fallen back to the requirement of human involvement.
Failure to abate costs and the cycle to achieve increased profitability.
For instance, chatbots couldn’t understand much of the callers' speech and lacked information in the diversity of conversations. This ultimately resulted in the requirement for call center agents to resolve grievances.
However, artificial intelligence emerged in the interim of the struggle to achieve cost-effectiveness from an expensive process.
Quote: A report revealed 57% of IT leaders said that automation technology saves departments between 10% and 50% on costs compared to manual processing.
The time is ripe for call centers to adopt call center process automation which uses artificial intelligence and machine learning to ease out repetitive tasks and leave the more complex tasks for agents.
A study shows 59% of respondents are sure of an oncoming recession. Moreover, 30% of the respondents believe that we are already experiencing a recession, whereas 26% expect a recession to begin as early as the end of this year. But what does recession have to do with automation?
It’s simple; in these trying times of remaining economical, compromising on quality is no longer a compulsion. So being cost-effective and hand-in-hand with beating recession as a pro sounds like a win-win situation. Right?
If you want to transform your call center into a low-cost, high-profit business, keep reading.
Getting To Know Call Center Process Automation?
Call center process automation refers to using technology to automate certain tasks and processes within a call center. This can include automating employees' training, performing quality assurance checks, and strategically lowering manual costs.
The goal of call center process automation is to improve the efficiency and effectiveness of the call center, reduce the workload on call center agents, and improve the customer experience.
Automation can help reduce customer wait times, provide more accurate and consistent responses to inquiries, and allow call center agents to focus on more complex or high-value tasks.
Various tools and technologies are available to support call center process automation, including customer relationship management (CRM) systems, artificial intelligence (AI) and machine learning algorithms, and cloud-based call center platforms.
These tools can help call centers streamline and optimize their processes, improve the accuracy and consistency of their responses, and enhance the overall customer experience.
9 Golden Ways Call Center Process Automation Reduces Cost
Let’s imagine a call center consisting of 400 agents, which are segregated into 10 teams. For each team of 40 members, we have 1 QA auditor.
So, the total number of QA auditors sums up to 10.
Now, let’s have a sneak peek at how automation is helping us achieve long-term cost-effectiveness at the call center.
1. Turnaround Attrition Cost
As of 2022, the average attrition rate of call center employees is 26% in the U.S.A in all industries.
Clearly if we consider this percentage with the agents alone, about 104 out of 400 agents quit each year.
Here’s the catch, it costs $2500 to hire a new agent. So, hiring 400 agents was costing $1,000,000. If 104 agents quit, we can say that another $260,000 would be required to replace them.
Unnecessary additional costs, increased time investment of an average of 3 months in training, and the cycle continue!
With call center software like Convin, ramp-up time decreases by 60%. Convin has its own learning management system that includes peer-to-peer training, customizable assessments, or assigned coaching on a requirement basis.
Moreover, with reduced ramp-up time, employees have more room for productivity.
2. Save Training Cost
Automated systems can provide consistent and accurate information, reducing the need for extensive training of live agents.
Training each employee alone costs around $1500. Returning to our call center, training 400 employees would be around $600000.
On the other hand, automation is a one-time investment that will make training as smooth as silk. Convin’s call center software makes coaching agents scalable and super-fast.
3. Re-think Manual Quality Assurance
Automation can eliminate the need for manual processes, such as manual routing of calls or manual data entry, resulting in cost savings.
Many call centers use manual call quality assurance software costing $5-10 for each auditor.
Given our case of 10 auditors might definitely cost more with automation compared to spending just $50. But what about the future?
The overall cost of manual auditing software keeps increasing exponentially with team size growth.
On the other hand, with Convin’s call quality assurance software, the one-time investment leads to 100% auditing, irrespective of the growth in team size. Interesting, right?
4. Streamline Processes
Automation can help streamline and optimize call center processes, resulting in cost savings through increased efficiency.
5. Reduce Labor Costs
Automation can reduce the need for endless agents and QA to handle certain tasks, resulting in labor cost savings.
6. Increase Efficiency
A study reveals that 60% of customers prefer AI in Customer Service as it helps them quickly resolve customer concerns.
Automation can help call centers handle more calls and handle them more quickly, resulting in cost savings.
7. Increase Customer Satisfaction
Automation can improve the customer experience, leading to increased customer satisfaction and loyalty, which can result in cost savings through reduced customer churn.
Convin increases CSAT by 27%. Convin comes with a customer intelligence tool that derives valuable insights from customer conversations. Convin also helps you lower your overall AHT by 56 seconds.
You can learn about your customers’ intentions just by their conversations with competitors they are looking at and their interest in your business.
Additionally, you can dodge past high escalating cases using the customer intelligence tool by tracking down conversations.
8. Enhance Data Security
Automated systems can improve data security by reducing the number of humans handling sensitive customer information, which can reduce the risk of data breaches and associated costs.
9. Increase Scalability
Automation can make it easier for call centers to handle fluctuating call volume, allowing them to scale up or down as needed, resulting in cost savings. For example, Convin audits 100% of calls by closely monitoring compliance regulations and provides exemplary conversation insights.
Results first, payment later.
Through Convin’s Lens: Call Center Process Automation
By now, you must be well aware of how you can achieve an economic state in your business by simply automating your call center.
Want to see how Convin’s call center process automation works?
Here’s a quick run-through of Convin’s features that help you achieve a cost-effective call center business.
1. Automated Quality Assurance
- Get complete access to call recordings and respective transcriptions.
- Audit 100% of calls, chats, and emails with Convin’s automated call quality assurance.
- Closely monitor 100% of conversations to see if compliance regulations are being followed regularly.
- Identify best-performing agents/teams, and identify room for improvement for calls that need attention.
- Leave audio/video comments on manually audited calls.
- keep track of AI-generated call audit scores regularly.
- Get full-fledged details on your call center performance via customizable reports.
2. Automated Agent Coaching
- Improve and nurture agent performance and activities.
- Eliminate human dependency by implementing peer-to-peer coaching.
- Track and monitor coaching performance using the coaching dashboard.
- Create and assign customizable coaching assessments.
- Save time and money, and minimize human dependency.
3. Customer Intelligence And Automated Reporting
- Identify customer behavior and perform win-loss analysis.
- Retrieve moments in the conversation in the Convin dashboard automatically with the help of keywords related to competitions, sentiments, questions, product features, etc.
- Retrieve moments of escalations, win, or loss in conversations using custom tracking.
- Identify key reasons behind lost deals and repeat behaviors leading to deals won.
- Receive customized reports according to parameters, agents, teams, and calls.
Above And Beyond Automation: What The Future Holds
What does a business intend to achieve?
Profitability, Growth, Stability, Efficiency, and Survival.
Clearly, the best approach to achieve the above-mentioned factors would be by attaining cost-effectiveness without compromising on quality. So, most businesses have always intersected at common goals, and thanks to automation, these goals are becoming easier to achieve.
It is quite clear that the future will see more and more adoption of automation with increased competition and thrust to achieve quality.
But making sure that we choose the right automation process will make a huge difference. After all, the goal is not to burn a hole in our pockets but save for a rainy day, right?
Want to learn more about Convin? Sign up now!