Call center managers are under ever-increasing pressure to drive results for their call centers. Whether your call center handles collections, sales, or customer support, there is a constant drive to get more done faster and with lower overhead.The question is, how can you improve your call center performance metrics?
One way that companies such as Receivables Performance Management (RPM) are improving their performance is by using voice analytics software to automatically analyze customer responses during calls and predict future behaviors. By doing so, RPM and other companies have improved several key performance metrics, including:
1: Objectivity of Agent Assessments
One of the major issues in measuring agent performance using a manual series of assessments is that such assessments are, at best, subjective in nature. Worse yet, most call centers can only monitor a small percentage of their total call volume to make assessments, meaning that the data used for the assessment is incomplete.
Instead of a reliable, detached overview of an agents strengths and weaknesses, these assessments consist of opinion and personal bias. This can lead to inaccuracies in the assessment which may cause issues further down the line, such as failing to identify agents in need of further training.
Even the most professional, objective person isnt immune to being influenced by personal bias.
Voice analytics programs can be used to perform automated assessments of agent performance. This enables assessments based on 100% of each agents call volume, creating a more complete assessment that catches both the good and the bad.
Additionally, the automated assessment is based not on the often flawed intuition and opinion of a person reviewing just one or two agent calls, but on solid evidence from all of an agents calls.
2: Gross Collections
A direct benefit that collections-oriented call centers see from using voice analytics software on their calls is that their gross collections rate increases significantly.
For example, RPM was able to improve their gross collections rate by 34.65% by applying voice analytics to their calls. When the RankMiner analytics program ranked RPMs clients by likelihood of a positive response, RPMs call agents could focus on the calls most likely to end in a YES first.
This saved time wasted on hard NO debtors, allowing more collections to be completed over a given period of time.
3: Contact Quality/Quality of Agent Performance
For years, businesses have used speech analytics programs to transcribe agent calls and make sure that agents are sticking to the script. This is important, as there are many rules and regulations that govern what a call center agent may or may not say during a call.
However, what agents say isnt always as important as how they say it. An agent can stay perfectly on script, but deliver the contents of the script in a way that can be insulting or rude, turning YES customers into NO customers.
A text transcript cannot convey speaker attitudes, so it may take a while to notice the cause of an agents poor performance. During this time, the underperformer may be costing your agency more and more in lost opportunities.
Voice analytics goes beyond what is said to how people are speaking measuring emotional behavior and tone for both the customer and the agent. Using speech features such as pitch and amplitude, RankMiners voice analytics can automatically provide insights into agent behavior that speech analytics alone would miss.
Because the assessment is automated, the time it takes to analyze an agents performance and establish trends shrinks considerably. As DCI Chief Quality Officer Mike Anna Sr. stated, it used to take us 4-5 weeks to establish a particular trend for a given phone agent. With RankMiners Agent Performance solution, were able to spot meaningful trends with certain agents within a couple of days.
After focusing training efforts on the agents RankMiners program identified as being in need of customer interaction training, each agents gross collections improved by approximately $6,000 each month. All because of a simple increase in agent quality.
These are just a handful of the key call center performance metrics that using voice analytics can help to improve. Improving on these metrics helps to drive business results, growing your business and keeping it competitive in a highly competitive market.
Learn how you can use RankMiners predictive voice analytics models today.