In Part 2 of this series, we examined some of the key processes where we often begin an optimization initiative. In this 3rd and final installment, we will look at how a major retail client of EPIC realized a staggering ROI after undertaking a strategic technology optimization project.
Like many retailers, our customer was looking to balance customer satisfaction and cost effectiveness without sacrificing either. EPIC came in and examined their technology stack, including speech, self-service and outbound applications and their use in the retailer’s business. After just four weeks, the EPIC team delivered an automation roadmap and ROI analysis that was centered on improving containment rates within their IVR system. Many companies build IVR solutions with a “set it and forget it” attitude. A great IVR solution is not a monolith, but an organic system that requires tuning, tweaking and continual measurement to ensure customers don’t drop out and head to the contact center instead.
The EPIC plan contained quick wins and small format enhancements to the existing technology that could be immediately undertaken, which resulted in a projected 5-year savings of $9.9 million. We incorporated proactive outbound calling to notify customers of order status, deflecting significant and costly numbers of calls and delivering an estimated 5-years savings of $1.7 million. But, by far the powerhouse in this ROI equation was the speech-enabled menu design and speech automation initiatives, which produced the greatest savings at $13.1 million and $8.8 million respectively. And they realized real ROI without sacrificing customer satisfaction and loyalty, making the payoff doubly powerful.
EPIC Connections is ready to share our ROI secrets with you at CCW. Visit us at booth # 519 to get a free Rapid Savings Assessment and let our team of contact center experts show you how. And for even more value, get a Rapid Savings Assessment from EPIC and win a chance at a $500 Apple gift card.
About EPIC Connections
Founded in 2003, EPIC Connections, Inc. is a global services company that empowers your organization to get real ROI results from every technology deployment. EPIC’s experienced team of contact center professionals optimizes your operations, processes, shapes behaviors, goals and KPIs and ensures you get the maximum benefit from your agents and your technology.