As one of your first lines of contact with your banking customers, your call center has essentially become a 24-hour help desk. This is great for customers, who can now leverage your services whenever they need to. The only problem is, if your telephone channel is not running efficiently at all times it’s going to impact your business in ways that go beyond the customer experience.
As the recent article, “What’s Impacting Your Bottom Line?” points out, there are a number of factors within the contact center that can affect the flow and expense of your daily operations. The article cites some areas that can influence profit and loss in the call center, including:
- Forecasting: Providing a consistent banking experience when call volumes ebb and flow requires accurate forecasting to scale your staff accordingly. When historical trend analysis cannot accurately forecast trends and customer behaviors, your call center will pay the price with increased costs for overstaffing when times are slow, as well as inconsistent or poor customer service due to understaffing when call volumes spike.
- Algorithms: To meet increasing customer demands and adhere to your service level agreements, mathematical algorithms play a critical role in analyzing trends in consumer behavior. They also help fine-tune forecasts to prepare your telephone agents with the skill sets they’ll need to support changing customer problems and issues.
- Agent turnover and adherence: Annual call center agent turnover can range anywhere from 30 to 100 percent. With recruiting, hiring and training new representatives costing between $5K and $18K per agent, this can have a serious impact on your operation costs, employee morale and the level of service you provide your customers. Creating initiatives that help improve employee satisfaction can lower employee turnover rates and improve agent adherence, which can positively impact your overall customer experience and bottom line.
- Call handle times: The amount of time your agents spend on the phone with your customers is a key indicator of the quality of care and service you’re providing, as well as understanding if your contact center is operating efficiently. If you cut calls short, it can impact the customer experience. Whereas, staying on the phone too long will drive up labor costs. Again, accurate forecasting can help ensure you have the right amount of staff to handle fluctuating call volumes, and the skills they need to resolve customer issues in a timely manner.
The best way to optimize your call center operations without driving up operating costs is to deploy automated solutions that help you analyze performance metrics and remove unnecessary processes that negatively impact your bottom line. The TRUSTID® Physical Caller Authentication tool is one way contact centers are improving the overall customer experience while reducing business costs.
At TRUSTID, we do this through real-time telephone network forensics. By invisibly authenticating each call while it’s still ringing, telephone reps don’t have to interrogate customers in the first few minutes of the call. This lowers average call handle times, which allows agents to resolve problems faster. Combined with other tools that help contact centers adequately scale to predicted call volumes, TRUSTID allows call centers to run more efficiently without wasting valuable time and money in the process to help optimize their fluctuating 24-hour telephone environments.