Article Revised: March 27, 2019
In the quest for revenue and profits, most companies feel like they have left no stone unturned. But, believe it or not, a company’s call center operations, whether handled internally or outsourced, are a deep profit pool that sits unnoticed right under noses of everyone scrambling to pump up revenue and squeeze out cost.
Interestingly, the very reason it is overlooked is also the exact reason why there is so much value remaining to be tapped: people think the biggest opportunities have already been wrung out. Big swings have been taken at call center costs in the last decade…self-service options were developed which cut down on calls and outsourcing was done to “shave volume peaks” and lower labor rates.
There is no question these efforts extracted value, but little work was ever done to study and improve the actual work of the agents…what they do in their systems and what they say to customers after they pick up the phone and say, “How may I help you?”
When you do put the activity of the agents under a microscope, what you discover is a jaw-dropping amount of revenue leaks, errors, and efficiencies and a mountain of completely unnecessary costs associated with those agent performance issues. What is even more incredulous about this is that in many industries…Telcos, Financial Services, Consumer Technology, Media…the in-house and outsourced call center operations are absolutely huge. This means the day-to-day work of tens of thousands of employees is not improving…not exactly “no stone unturned.”
This white paper takes a Finance and LSS perspective on contact centers. It lists the big buckets of call center costs and takes you through the specific sub-drivers of those costs. It details how automation directed by the agent and error-proofing can be used to attack each of the sub-drivers of cost and inefficiency. Finally, it shares specific results across a broad range of applications and industries.
If you are a Black Belt looking for projects or if you are a Process Excellence Leader looking for ways to broaden the value of your LSS effort, this white paper lays out an enticing array of service industry possibilities.