Discover the ROI of Stronger Customer Understanding, in Your Own Environment
Much has been written about the considerable value organizations can observe via thorough mapping, deep analysis, and broad visibility to the IVR journey. There's a certain joy, however, in seeing customer experience and contact center professionals actually observe these benefits for the first time, in their own departments.
Recently, NICE completed an IVR Optimization pilot with a regional healthcare insurer, which serves more than four million members, to the tune of over six million member interactions and nearly three million provider interactions annually. They were seeking greater visibility to "choke" points in their IVR process, and any insights that would enable them to optimize
containment for members and providers, continuously. Furthermore, having no reliable mechanism for measuring IVR behavior meant the effectiveness of adjustments could not be assessed in a timely manner, limiting the viability of any IVR initiatives.
For this organization, NICE analyzed a month's worth of IVR data and demonstrated that a single percentage point in IVR containment would decrease contact center calls by more than 90,000, to the tune of over half a million dollars annually. Furthermore, providing visualization, context, and root-cause analysis would empower them to understand, and act upon, customer behavior encompassing a broad range of profiles, demographics, and needs.
Among other findings, the pilot established that improved authentication procedures could generate more than $1 million in annual savings. It also demonstrated how 10% of call "time-outs" could be eliminated, saving another half-million.
All told, the project revealed opportunity to increase IVR containment by 5-10%, yielding more than $4 million in total annual revenue savings—monies that could be reallocated to clinical care and improved customer experiences elsewhere.
Increased containment means improved customer satisfaction, as more callers are finding what they seek, while those who do require agent assistance can be handled with greater efficiency and more complete customer data—and what could
your organization do with an extra four million dollars each year?
Watch this on-demand webinar,
"Accelerate Your Understanding of Customer Journeys Through Real-World Examples," to learn more about the benefits of taking an IVR Optimization "test drive," and how you can take your next steps towards customer-driven insight and value.