PINDROP BLOG

How a Digitally Transformed Contact Center Saves You Money

In today’s world where technology continues to evolve, most companies are currently experiencing a digital transformation. Now, as companies move further into digital transformation, they gain an opportunity to save even more because of greater efficiencies created through analytics, AI and digital platforms.

Digital transformation helps to use resources, some of which may already be in place and not require further investment, more efficiently and actually to save money. The key is NOT focusing on activities and cost components but looking at the holistic customer experience and improving it through digital technologies and platforms. Doing so can lead to millions of dollars in savings.

Call Center’s Place in Digital Transformation

Companies aren’t made up of just one channel of operation and it may be hard to determine priority. So, what is the point in placing importance on the call center?

Let’s take a look into some voice channel value drivers:

Brand & Reputation

When customers call into the call center, it may be the first point of contact with your company, and a good first impression may lead to lasting loyalty whereas a bad customer experience may turn them off entirely. If at all necessary despite all self-service capabilities in the IVR, the experience with an agent who knows the customer’s name, knows what s/he recently purchased and offers to assist with the current task at hand is a tremendous boost to the brand’s reputation. Additionally, by protecting your call center from fraud you are able to avoid negative press, protect your brand values, and leverage reputation of safety. 

Security

When customers are verified, their calls can be expedited to reciprocate their interest and loyalty. With security, fewer customers become victims of fraud, and personal information can be handled securely. 

Phone Channel as the Equalizer

No matter how much we progress with technology, you can still not assume that everyone will have the latest fancy gadget to interact with it. So, it’s very important to strategize in digital transformation with calls coming from any possible line of communication. Even when customers can engage with a company in a digital channel, they may escalate or combine their online interaction with a phone call. The call center also is often a starting point for fraudsters – they can obtain information via the phone channel and use it to hack into future accounts, steal identities, bank fraud, etc.

Pindrop Observing Big Savings

The cost savings that follow are eye-catching. Earlier in 2021, numbers showed that Pindrop, through its authentication solution, was provided to one of its customers in the financial services industry an annualized savings equivalent of approximately 85 FTEs per year. The savings mainly stemmed from increased IVR containment and agent leg reduction in average handle times. The reduction in average handle times is strongly supported by reduced authentication friction which Pindrop routinely observes at levels of 95% or more at its customers.

Taking all these factors into consideration, it is easy to see why call centers need to be in front of your company’s digital transformation – allowing customer service to be a clear priority to customers calling in. Contact us right now to learn more.