Contact center ROI analyzes the value of any business investment. It is a way of analyzing business decisions and see whether the investment will be paid off and when it will happen.
Investment, for the ROI calculation, is defined as the monetary value that needs to be paid by the organization to achieve benefits from the contact center solution. Nevertheless, assessing contact center ROI is not as easy and simple as it looks.
There are two parts to assessing the ROI: the soft ROI and the hard ROI. Many companies have a clear strategy for technological investments. However, these are often based on the hard benefits, those that can be easily measured and tracked. Benefits like increase in FCR (First Contact Resolution rate), decrease in agent talk time, average handling time, and so on. The soft ROI is harder to quantify and measure. It refers to parameters such as, improvement in customer satisfaction, improvement in brand awareness, decrease in customer attrition, decrease in agent attrition, and so on.
Calculate Contact Center ROI
When we talk about technology only, the costs and benefits are very clear, enabling the building of the ROI business case fast and easy.
Subscription – Includes cost of monthly/annual subscription. Don’t forget seasonal requirements or temporary staff needs.
Implementation – Deployment and infrastructure investments. Don’t forget the hardware needed to deploy the technology.
Cost reduction – Reduced or no downtime, reduced or no IT needs.
Improved productivity – A unified contact center reduces agent handling time and improves customer satisfaction and FCR rates
This is just a simple example of what a contact center can do for your business. It gives your customers a better and convenient way to reach out to your business, enabling them to buy more of your products or services and improving your business performance be it in terms of sales, upselling, and others.
Our experience and knowledge of over 26 years implementing and monitoring the use of contact center solutions for all businesses, regardless of type or size, allows us to commit to estimating and delivering the ROI of Altitude Xperience on the cloud for every client. The Altitude ROI program ensures that our customers will have a clearly and tightly defined return on investment when deploying Altitude Xperience.
Define relevant ROI metrics and clearly estimate the potential benefits prior to project implementation.
Deploy the solution based on the predefined metrics and goals.
Drive the contact center operations towards clear ROI achievement.
Determine how the ROI metrics evolve over time and act to ensure them.
Deliver ROI through accurate investment payback values and establish a clear business case for future investments.