CONTACT CENTERS HAVE TOOLS TO MEASURE AGENT ACTIONS, BUT NONE THAT QUANTIFY FINANCIAL EFFICIENCY

"I’ve always had to worry about operational costs because managers and supervisors were too far removed to understand its impact on the operation."

Executive Director, Contact Center Operations

Contact Centers have real-time reporting on agent activity, however, those reporting tools lack the ability to quantify the value and financial efficiency of those activities, sub-optimizing performance and return on investment.

Not having a tool to precisely value activity causes several problems:
  • Overspending.
  • Underutilizing technology investments.
  • Mis-prioritizing projects.
  • Diminished customer engagement and agent effectiveness.

“How can we be taken seriously when we don’t know how efficiently we’re spending money today?”

Chief Operations Officer, Health Insurance

Three reasons explain why contact centers lack financial efficiency:
  1. Metrics cannot explain how well money spent is working. Cost per contact, quality, occupancy, sentiment, utilization, handle times, adherence, net promoter score, satisfaction, and on and on – NONE are financially accountable.
  2. Consultants and software vendors have created an aura where fuzzy measures and their expensive software matter more than the cost of ownership.
  3. There has been no effective solution for real-time measures of value and financial efficiency by queue, channel, line of business, or campaign - across all manager levels.

Because contact centers haven't had access to real-time measures of cost and financial efficiency, they've had to rely on other measurements to express their performance:
  • "Reducing Average Handle Times 10 seconds increase capacity.”
  • “We have an ROI of 22%”.
  • “Our cost per contact is down from $4.25 to $4.00.”
  • "XYZ Company has software that will improve customer experience."

None are able to explain financial efficiency of work being done.


Problem: Workforce Compensation and Recognition

Consider managers with different team sizes, but identical scores on customer satisfaction and service level. Should they be equally compensated? How many metrics must one consider before deciding?

Solution

Problem: Technology Investments

A contact center wants to reduce hold times on 10 contact queues that support 2 lines of business. Software has been identified, at a cost of $500,000 per year, and will cut hold times in half. Is this a good investment?

Solution