"The two biggest reasons that companies are investing in AI and other technologies are because it improves customer experience and reduces costs," - Zippia
Call center costs have been rising over the years and high agent attrition rates haven't been helping. That is just one part of the increasing burden on a call center's finances.
Things like training agents, running on-premise software, and compliance are some of the many worries of a call center's rise in expenditure.
Call centers have tried to alleviate these expenses by trying outsourcing, adopting new services and technologies.
In the end, the presence of automated technology has given call centers a ray of hope to reduce their increasing expenditure.
But do call center services using automation actually yield a positive ROI? Let's find out.
But first things first, let's understand why do call centers need such automated services.
How to maximize call center ROI?
Why does a Call Center Need Automated Solutions?
The manual processes of call centers are inefficient and a lot of things that are waiting to be changed for the better. The era of contact center services has changed all that.
Let's see some of the reasons why a call center needs such services.
1. High Maintenance Costs for On-Premise Software
"Cloud contact centers are 27% cheaper and experience 35% less downtime than their on-premise counterparts" - Entrepreneur
The amount of call centers using on-premise services is on the decline. On-premise software requires a lot of hardware, a dedicated IT team and is difficult to scale.
With all these limitations, every call center was waiting for a better option to migrate to. The introduction of cloud-based services benefited call centers greatly.
2. Limitations of Manual Auditing
The quality monitoring process is implemented in call centers to improve customer service and enhance agent performance.
One of the biggest limitation of the manual process is that only a limited amount of calls get audited. This leaves a lot of agents without any feedback on how to improve their performance.
An AI-based solution can cover 100% conversations across all channels and give agents prompt feedback to improve on.
3. High Cost of Agent Onboarding
"Contact centers have 1.3 times the annual attrition rates compared to other private sector averages" - US Bureau of Labor Statistics
Turnover rates among call center employees are really high and the agent onboarding cost is really steep. With these high attrition rates, it is often difficult to see a customer service representative working for a long period at a single call center.
With all these difficulties, it has become absolutely necessary for a call center solution that caters to all these problems.
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What are the Benefits of Call Center ROI Solutions?
Call center ROI solutions have a lot of benefits that help overcome the limitations faced by previous software and processes.
Let's have a look at the different possibilities covered by these solutions.
1. Cost-Efficient Hosted Options
Convin is really a time saver when it comes to monitoring the call for thousands of employees, to see the weak and strong areas of their conversation with clients. Having a team meeting with the reports generated by convin gives logic and proper guidance to executives who need to improve, as it is totally an Artificial intelligence based software, its accuracy can not be challenged. - Devender S., Tele account manager
As mentioned above, on-premise services can become a huge source of expenditure.
On the other hand, cloud-based solutions can be deployed online, eliminating the need for hardware and a dedicated IT team.
Managers don't need to worry about upscaling or downscaling operations as changing the deployment scale of cloud-based tools can be easily changed.
2. Omnichannel Integration
Automated quality assurance tools have the ability to monitor and evaluate customer interactions across all channels. This helps all agents to receive feedback on improving their performance.
3. Personalized Agent Coaching
An agent coaching strategy should be planned in a way that it helps all agents. It is difficult to have a strategy that caters to every agent.
Call center solutions have agent coaching abilities that focus on their areas of improvement. That kind of coaching is much more effective than a generic approach.
Since agents are getting feedback that lets them understand what they need to improve, it has a better impact on performance.
Now that we've seen the features offered by call center services let's look at their efficiency and how they can help reduce costs.
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How do Call Center Solutions Offer High ROI?
As mentioned above, the ROI on currently used software and strategy is minimal to say the least. But with these call center solutions, how do contact centers attain better ROI?
1. Hosted Solutions
Since these call center solutions are hosted on the cloud, only the subscription charges need to be paid. Compared to on-premise call center solutions, this is a much cheaper alternative, making it easier to get a better ROI.
It is easier to upscale and downscale with these tools as it is only a matter of changing the pricing.
2. 100% Omnichannel Auditing
Auditing need not be restricted to just calls with these call center solutions as they're AI-powered and can monitor customer interactions across all channels.
This gives more insights into all conversations with a single investment instead of hiring many quality assurance employees.
3. Detailed Reporting Capabilities
Since these call center solutions can audit all conversations, contact center management can gain granular insights into a lot more metrics.
These insights can help streamline experience delivery strategies.
4. Understand Your Customers Better
Contact center software can leverage the power of AI to evaluate and assess customer sentiment. This can be used to improve an agent's communication with a customer.
Competitor analysis, market sentiment to the product and organization can be understood using conversation intelligence.
5. Reduce Ramp-Up Tim
“Training expenditure in the US has increased from 82.5 billion U.S. dollars in 2020 to 92.3 billion in 2021” - Statistica
A major contributor to this expenditure is focused on new employees. When an onboarding strategy isn't streamlined, it takes a long time before a new employee can begin to take calls.
Using automated coaching can reduce ramp-up time by 60%, reducing the cost on coaching as well as allow them to start communicating with customers sooner.
Increase Your ROI on Call Center Software!
Summing Up
The ROI on current call center solutions are diminishing with reduced efficiency and increased limitations. Automated software have emerged as an option that offers a much higher ROI.
Tools like Convin offer 100% call coverage, advanced reporting, and automated coaching.
Frequently Asked Questions
- How to Reduce the Operational Cost of a Call Center?
Investing in the right call center solutions and streamlining workflows can reduce operational costs.
- Why is Call Center Turnover so High?
Factors such as burnout, career stagnancy, and improper work-life balance lead to high employee turnover in call centers.
- How Does Cost Reduction Work in a Call Center?
Finding software that eliminates redundancy and automates repetitive workflows help agents to focus on intense work, increasing efficiency.
- What does ROI call center do?
ROI CX services provide tools that help agents to navigate both inbound and outbound calls. Yet, this isn’t enough when it comes to ensuring that your call center is on the top of quality management.
Automated QA tools are the answer for that.
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