VPI ENABLING CONTACT CENTERS TO ACHIEVE THEIR GOALS WITH PERFORMANCE ANALYTICS

Transcription

1 VPI ENABLING CONTACT CENTERS TO ACHIEVE THEIR GOALS WITH PERFORMANCE ANALYTICS A Whitepaper Sponsored by

2 TABLE OF CONTENTS TABLE OF CONTENTS Introduction The Current Marketplace 3 Service Delivery Challenges 3 Addressing the Challenges 5 Performance Analytics Solution Benefits 6 Customer Case Studies 9 Choosing the Right Vendor 11 Conclusion 11 2

3 INTRODUCTION THE CURRENT MARKETPLACE The current business environment makes it harder than ever for enterprises to create sustainable competitive advantage. Globalization and the associated advances in information technology have created intense competition and given customers a multitude of options that they never had before. In these environments, superb customer service is often a key differentiator that promotes customer loyalty and reduces propensity to switch to competitors. Also, today s customer is extremely sophisticated and has higher expectations for customer care. Supported by effective business processes, well-trained agents have the ability not only to meet these expectations, but to also influence customer behavior and promote customer advocacy. Insights yielded by comprehensive performance and customer interaction analytics solutions help enterprises strengthen and expand their competitive position. Currently available advanced analytics solutions enhance agent performance continuously and in real time, accelerate response to customer problems, and tap into opportunities to generate new business from an organization s existing customer base. A wide variety of enterprise-wide job functions and processes impact and influence the customer in different ways. For most organizations, the contact center represents the primary customer interface. Customers often evaluate the quality of service given by an enterprise based on their experiences with its front-line staff. Consequently, in this era of sophisticated customers, the contact center represents a key service channel. The effectiveness of agents within the contact center in delivering quality customer care has been proven to be a critical factor in influencing customer loyalty. A number of training and coaching tools available today help in identifying and addressing agent skill gaps and enhancing performance. Training and coaching tools tightly integrated with analytics systems further empower agents by providing the right information at the right time thereby driving greater effectiveness in meeting customer needs. SERVICE DELIVERY CHALLENGES Most enterprises have very high expectations of their customer service operation. Success is measured across multiple parameters, such as the ability to reduce costs, improve customer satisfaction, lower AHT, improve quality, keep agents happy and productive, and so on. Yet, these goals often compete with each other. For example, contact center managers are frequently tasked with increasing customer satisfaction and retention, while contending with diminishing resources, and increasingly tight budgets. Advanced analytics solutions enhance agent performance continuously and in real time, accelerate response to customer problems, and tap into opportunities to generate new business. Training and coaching tools tightly integrated with analytics systems further empower agents by providing the right information at the right time thereby driving greater effectiveness in meeting customer needs. Today s contact center environment is incredibly complex with support for multi-site and multi-channel operations, an increase in the number of remote agents, as well as the issue of offshore outsourcing of contact centers. Consequently, consolidating and evaluating contact center performance in these complex environments is more difficult and crucial than ever before. 3

4 The average contact center spends between percent of its annual budget on its workforce. Optimizing and effectively managing this workforce significantly impacts the bottom line and holds the key to helping contact centers control costs while improving service levels. High agent attrition rates continue to be a major challenge for contact centers of all sizes and functions. Targeted agent training combined with appropriate reward/ recognition programs and a well-defined career development path are crucial not only in creating more satisfied, motivated employees, but also in driving incremental improvements in customer satisfaction and advocacy levels. An increasing number of calls for standard service requests are now being handled via self-service channels such as IVR and the Web. The balance of calls transferred to the agent require superior handling skills and present immense revenue opportunities, which have better chances of realization if handled effectively by well trained agents. Consequently, from an enterprise perspective, effective agent training is one of the key priorities for contact centers. This trend is one of the most significant drivers for e- learning and coaching applications within contact centers. While improving agent effectiveness is a major goal for contact center managers, optimizing the entire customer service process, via a variety of touch points within the enterprise, is also becoming important. Very often, problems in the underlying process or in back-office operations can impact service delivery, regardless of an organization s efforts to train and coach their agents. Therefore, any effort to improve the customer experience and drive high levels of satisfaction will not be complete without optimizing associated business processes. Any effort to improve the customer experience and drive high levels of satisfaction will not be complete without optimizing associated business processes. Contact centers contain a variety of technologies geared to improve performance in one or more functional areas, e.g. quality monitoring to improve agent performance, workforce management for effective scheduling, elearning to deal with agent skill gaps, ACD systems for effective call routing, CTI systems for customer information screen pops, IVR for self-service etc. All of these products are deployed with the objective of enhancing the productivity and efficiency of contact center operations, thus resulting in a positive customer experience. Each of these technologies has an individual reporting mechanism that yields important performance parameters. However, the parameters offer a rather one-dimensional perspective. Acting on such parameters will bring about improvements in just one functional area and may or may not result in the incremental improvement of the customer experience as a whole. Such isolated information silos can only yield very limited benefits, when compared with the exponential benefits that can be accrued by a holistic approach to performance optimization. Technology and software in the contact center environment though catering to distinct functional areas, are all related and draw on information from each other to enhance efficiency. Performance analytics products give a snapshot of performance across all of these functional areas, thereby driving contact center and agent productivity up to totally different levels. 4

5 Performance analytics products give a snapshot of performance across all of these functional areas. VPI s Activ! Intelligence performance analytics solution integrates data and information from disparate sources and presents it in clear, easy-to-understand reports (above) that allow users to drill down to a very granular level and playback associated call recordings for review. ADDRESSING THE CHALLENGES The pursuit of contact center performance improvement has, until very recently, been all about cost cutting and tracking a narrow selection of expense numbers. The change in the profile of the contact center to a more strategic asset within the enterprise has given way to a more holistic assessment of contact center performance: one that includes a combination of quantitative and qualitative measures. It thus becomes imperative to measure performance not just on the basis of cost-containment statistics such as average handle time, but also on measures that tie contact center performance to the objectives of the enterprise, such as the value or revenue outcome of the call. Leading enterprises are beginning to understand the implications of shortsighted cost reduction crusades on customer satisfaction and quality of service, and are striving to strike a balance between efficiency and effectiveness in the contact center customer service operations. Enterprises are beginning to understand the implications of shortsighted cost reduction and are striving to strike a balance between efficiency and effectiveness in the contact center customer service operations. No customer care operation can succeed without the right underlying technologies. State-of-the art call routing and self service technologies play an important role in minimizing customer hold times, whereas workforce management technology helps match customer calls to the agent with the right skill set. Quality monitoring solutions offer insights into agent skill gaps, which can be addressed by associated e-learning products. For technology-heavy contact centers, it is extremely challenging to effectively consolidate all of these disparate technologies, and unify them under one performance optimization strategy, which would allow for centralized tracking of progress. To enable a holistic approach to performance optimization within the contact center, a 5

6 number of progressive enterprises are currently implementing performance analytics products. The value of performance analytics solutions in continuously driving incremental enhancements within agent and contact center performance is becoming increasingly evident. Enterprises that commit themselves to sophisticated performance analytics solutions are infinitely better positioned to assess, understand, anticipate, and meet the needs of their customers. With their ability to access, process, and present up-to-theminute performance statistics, real time analytics are invaluable in helping enterprises implement proactive measures to drive customer service excellence. Modifying and improving the behavior of agents based on real time information helps enterprises contain problems before they have a chance to magnify and escalate. With real time access to information, enterprises also gain the advantage of uncovering opportunities and trends faster and more accurately than their competitors, allowing them to more effectively meet the needs of their customers and dramatically improve revenues and profits. Enterprises that commit themselves to sophisticated performance analytics solutions are infinitely better positioned to assess, understand, anticipate, and meet the needs of their customers. Sophisticated real time performance analytics systems, such as those developed by VPI, also present new opportunities for much more relevant, targeted and proactive agent training, via tight integration with e-learning and messaging modules. Training content is delivered to the right agents at the right time, based on rules that combine their needs and performance results, derived from telephony and business data continuously collected and processed by the performance analytics systems. Due to the emergence of more customized, individualized, just-in-time training options that are much more agile and proactive than traditional e-learning, electronic coaching is becoming a more relevant term for the training function within today s progressive contact centers. PERFORMANCE ANALYTICS SOLUTION BENEFITS Sophisticated real time performance analytics systems, such as those developed by VPI, also present new opportunities for much more relevant, targeted, and proactive agent training, via tight integration with e- learning and messaging modules. Performance Analytics solutions yield several benefits to end-users. Lets take a look at some of these benefits: Attractive ROI and Quantifiable Benefits Performance analytics solutions have attractive ROI cycles of between six to12 months. Vendor case studies have revealed quantifiable benefits with double digit savings in areas such as: average talk time, time agents spent on line, sickness and absence, average hold time, agent attrition, quality scores, first call resolution, etc. All of the above result in increased productivity, customer satisfaction, and revenue, coupled with a significant reduction in costs. Performance analytics solutions have attractive ROI cycles of between six to 12 months. Proactive Planning and Informed Decision Making Performance views can be presented in the form of reports or dashboards delivered to employee desktops on a daily basis and customized based on their specific scope of interest and responsibility. Presenting updated information in real time or near real time offers even greater benefits to contact centers seeking ways to improve decision-making 6

7 and performance. Information presented in a timely fashion can aid contact center managers in identifying and rectifying problems proactively through early recognition of trends and patterns. The key is to get this information quickly, so that managers can correct unfolding problems before they have a chance to escalate and magnify. Information presented in a timely fashion can aid contact center managers in identifying and rectifying problems proactively through early recognition of trends and patterns. VPI s real-time performance dashboards can display both individual and group metrics, sales data, messages, links to training, FAQs and other content that help drive performance and enable agents and managers to be proactive to actively identify, intervene, and optimize rather than wait and react. Increase Employee Satisfaction and Motivation Performance analytics solutions are more than just reports, or snapshots of performance for management purposes. Real-time performance metrics, when appropriately formatted and presented to agents, may be leveraged to serve as means of influencing changes in agent behavior. Agents can, on a daily basis, see their performance statistics at an individual and group level. Awards and recognition programs tied into these performance statistics allow agents to see the correlation between activity and compensation. Agents are quickly able to recognize the behaviors and actions that translate into rewards and are motivated and empowered to improve accordingly. These applications are thus important tools in optimizing performance, while also increasing agent satisfaction and motivation. VPI s real-time performance dashboards help drive performance and enable agents and managers to be proactive to actively identify, intervene, and optimize rather than wait and react. Performance analytics applications are important tools in optimizing performance, while also increasing agent satisfaction and motivation. Dashboards can be customized and sized to display a variety of important real time and historical performance metrics on multiple scrolling views to have minimal impact on desktop real estate 7

8 Scorecards provide agents their own performance results, empowering them to improve their productivity by showing them how they are tracking to their goals. Managers can quickly see where individual improvements need to be made, and take proactive measures to improve agent performance. Consolidated Reporting Results in Time Savings and Cost Reduction Contact center managers currently rely on a number of systems and reporting mechanisms to get a sense of their evolving contact center performance. Presenting a snapshot of performance across these various software applications and technologies from a single source reduces administrative workloads and increases transparency, giving managers and supervisors quick insights and time to focus on more critical tasks. Presenting a snapshot of performance from a single source reduces administrative workloads and increases transparency, giving managers and supervisors quick insights and time to focus on more critical tasks. Consolidated, multi-site, multi-system, web-based reports that show both real-time and historical call statistics and performance data on an agent, group or site basis; reporting successes and highlighting where adjustments need to be made Align Operational Objectives with Corporate Goals The profile of the contact center within the enterprise is slowly but surely undergoing change. Contact centers are strategic, customer-facing assets with a great deal of influence on customer satisfaction and retention. Aligning contact center operational 8

9 objectives with corporate business objectives will further aid this transformation. With their ability to incorporate key company objectives into agent performance indicators, performance analytics solutions ensure that each and every employee is working towards realizing the strategic vision of the organization, thereby ensuring the successful execution of this vision. Optimize Performance in Complex Environments The rise in offshore outsourcing, remote agents, and virtual contact centers, requires strategic, outcome-focused performance evaluation, consolidated across multiple sites and functions. The traditional cost-centric basis of performance evaluation has given way to a more holistic approach to performance evaluation. Performance analytics applications enable the meaningful alignment of day-to-day contact center and agent objectives with overall company objectives, thereby overcoming geographical boundaries. Patterns and Trends Identify the Root Cause of Problems Performance analytics solutions present a multi-dimensional view of the data present in the contact center environment. Advanced solutions have functionality that permits further drill down into metrics in order to analyze the root cause of problems. Root cause analysis can help identify problem areas responsible for substandard performance and result in improved decision-making. For example, the contact center might be inundated with calls on a particular day as a response to ineffective messaging in a newly launched marketing campaign. One approach is to temporarily increase staffing levels within the center, analyze the root cause of this sudden surge in calls, and work with marketing departments to fix the problem. CUSTOMER CASE STUDIES Flowers.com Performance analytics applications enable the meaningful alignment of day-to-day contact center and agent objectives with overall company objectives. Advanced performance analytics solutions have functionality that permits further drill down into metrics in order to analyze the root cause of problems. Company Profile: Flowers.com provides a broad range of products, including flowers, plants, gourmet foods, candies, gift baskets and other unique gifts. With a total of nine sites five internal throughout the United States and four outsourced partners and up to 2,000 agents working at peak periods, Flowers.com has tackled all the challenges inherent to a businesses operating large, multi-site contact centers. Solution Overview: VPI s Activ! Intelligence real time performance analytics and fully integrated Activ! Coaching contact center solutions implemented in Key Purchase Considerations Streamlined Reporting Efficient Messaging System Open architecture and flexibility in integrating with existing and future technology environment Consolidation of information from multiple telephony and business databases and mainframe systems 9

10 Easily accessible executive and management level reports and dashboards Availability of real-time and historical performance information Automated, rules based e-learning tool Benefits and Results Higher utilization of work time Increased overall performance in service Improved ability to measure the impact of training Consolidated reporting on all nine sites 2. National City Mortgage Company Profile: National City Mortgage is a premier mortgage and origination servicing company. The company was faced with the challenge of improving its agents performance and was looking for up-to-the-minute access to performance statistics. The National City Mortgage contact center is a blended environment, managing both inbound and outbound calls. The company needed a solution that would blend its data together into a unified database. Solution Overview: VPI s Activ! Intelligence real time performance analytics and fully integrated Activ! Coaching contact center solutions implemented in Key Purchase Considerations Streamlined Reporting Distribute real-time information to agents and managers using dashboards, scorecards and consolidated reports Display performance metrics against set standards or overall call center results. Trigger training based on agent performance results for an unprecedented degree of coaching automation. Set thresholds for performance and receive immediate feedback. A cookie-cutter approach does not work for all types of businesses and it is preferable to select a flexible vendor that can provide a custom approach to support unique business needs. Benefits and Results Decreased agent talk time For supervisors and managers, access to data not previously available to them Increased internal response times to data requests, with less reliance on IT department Better control and tracking of agent education Increased employee morale Improvement in outbound talk time Increase in blended calls per hour Improvement in average speed to answer Improvement in inbound abandonment rate 10

11 CHOOSING THE RIGHT VENDOR Selecting a vendor that provides the right technology is the first step towards achieving enterprise customer service objectives. Additionally, partnering with a solution provider that offers not only the technology but also the necessary experience, knowledge base, best practices insight, and ongoing consulting services is a critical success factor. While customer service processes within enterprises are generally quite similar, there are many industry or vertical-specific needs that require certain customizations to be made within these processes. Therefore a cookie-cutter approach does not work for all types of businesses and it is preferable to select a flexible vendor that can provide a custom approach to support unique business needs. CONCLUSION The value of implementing performance analytics solutions has never been greater than in the current business environment. Creating market differentiation based on products is becoming more and more difficult to achieve. Superb customer service is a key differentiator that promotes customer loyalty and reduces propensity to switch to competitors. Insights yielded by comprehensive performance analytics products help enterprises accelerate their response to customer problems and quickly close on opportunities. Well-trained agents supported by effective business processes have the ability not only to meet these expectations, but also influence behavior stimulating customer advocacy and long-term revenue growth. Presenting performance statistics and information in real time or near real time offers the opportunity of e proactive identification and rectification of problems through recognition of trends and patterns. The key is to get this information quickly, so that managers can begin correcting problems before they have a chance to escalate and magnify. Real-time analytics and the ability to access up-to-the-minute performance statistics are invaluable in helping enterprises proactively drive customer service excellence. Vendor case studies explored the benefits of performance analytics solution implementations and revealed quantifiable benefits with double digit savings in areas such as: average talk time, average hold time, agent attrition, quality scores, first call resolution, and much more. All of the above result in an increase in productivity, customer satisfaction and revenue with a significant reduction in costs. Implementing sophisticated performance analytics solutions should be a strategic priority for all enterprises seeking to achieve excellence in customer service delivery, and improve retention, loyalty, and revenue potential from their customers. Insights yielded by comprehensive performance analytics products help enterprises accelerate their response to customer problems and quickly close on opportunities. Real-time analytics and the ability to access up-to-the-minute performance statistics are invaluable in helping enterprises proactively drive customer service excellence. Implementing sophisticated performance analytics solutions should be a strategic priority for all enterprises seeking to achieve excellence in customer service delivery, and improve retention, loyalty, and revenue potential from their customers. 11

12 Silicon Valley 2400 Geng Road, Suite 201 Palo Alto, CA Tel Fax San Antonio 7550 West Interstate 10, Suite 400, San Antonio, Texas Tel Fax CONTACT US London 4, Grosvenor Gardens, London SWIW ODH,UK Tel 44(0) Fax 44(0) Palo Alto New York 877.GoFrost San Antonio Toronto Buenos Aires Sao Paulo London Oxford Frankfurt Paris Israel Beijing ABOUT VPI VPI (Voice Print International, Inc.) is a leading innovator and provider of integrated interaction recording and workforce optimization solutions for enterprises, trading floors, government agencies, and first responders. Through its award-winning suite of solutions, VPI empowers organizations to proactively improve the customer experience, increase workforce performance, ensure compliance, and align tactical and strategic objectives across the enterprise. With the power to be proactive, organizations are equipped to actively identify and maximize opportunities and minimize risk. For more than a decade, VPI has been providing proven technology and superior service to more than 1,000 customers in over 25 countries. This dedication and commitment to excellence has resulted in an unmatched customer loyalty rate of over 90 percent. For more information, visit Chennai Kuala Lumpur Mumbai Shanghai Singapore Sydney ABOUT FROST & SULLIVAN, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit Tokyo