Workforce Management Featured Article
Verint Digital-First Engagement Delivers 271% ROI
Contact centers are increasingly called up to do more with less. Fewer workers and stagnant budgets are leading to backlogs of customer calls and messages, and many companies are losing the customer engagement fight.
Artificial intelligence (AI) solutions can help contact centers improve the quality of customer engagement without the need to hire more workers. Verint recently had its Verint Digital-First Engagement solution, part of the Verint Customer Engagement Cloud Platform, analyzed by Forrester (News - Alert) Consulting to determine the economic impact of using the AI-driven solutions. The results were impressive.
The Forrester Total Economic Impact study examined the potential return on investment (ROI) and business benefits organizations may realize by deploying Verint’s (News - Alert) solutions that support an organization as it engages with today’s digital-first consumer. Through customer interviews and financial analysis, Forrester found that in a three-year timeframe, a composite organization experiences benefits of $22.80 million versus costs of $6.14 million and realizes a 271 percent return on investment with a payback period of less than six months.
“Consumer priorities continue to evolve with a growing preference for digital-first, self-service options for customer service channels,” says Verint’s Heather Richards, VP of GTM strategy, digital-first engagement. “Companies need to manage an increasing number of customer interactions and the workforce and channel silos created as a result.”
Specific benefits of the Verint solution include:
- 20 percent deflection of inbound customer calls to the contact center, yielding $15.4 million in savings.
- 10 percent reduction in average handle times, resulting in $6.9 million in savings.
- 80 percent reduction in system updates via a single fully integrated knowledge management platform, producing $266,000 in savings.
- 40 percent improvement in passing rates for training courses, yielding $250,000 in savings.
Users of the solution noted a reduction in repeat inquiries and a decrease in average handle time – two key factors that signify an increase in customers’ ability to find and use self-service tools, allowing overall agent productivity to increase. These efficiencies simultaneously increased overall happiness and job satisfaction of agents and customer-facing employees.
Edited by Erik Linask
