Thursday, December 13, 2012

The ROI of Call Recording Software

ROI of call recording software
Return on investment (ROI) is a key consideration in any equipment or software purchase. Here are five significant ways that call recording software can have a positive ROI impact:

1. Saving Time
When call logging is automated and call retrieval is quick and easy, dozens of hours are saved over sifting through analog tapes or reviewing calls at random. Call analysis by date, by time, by shift or other factors is handled automatically, shortening the time necessary to review agent performance or call center efficiency. Call recording software also helps managers spend less time on reviewing performance – traditionally done through in-person monitoring or filling out paper evaluations – and more time on the important tasks of providing informed coaching and feedback.

2. Improving Agent Efficiency
Knowing that some agents take 2 minutes to complete a call and others take 4 minutes is an important first step to improving the efficiency of individual agents and the call center itself. But the question that must be answered is why some calls take longer, and that can only be achieved by listening to the conversations. Call recording software helps managers discover ways to expedite calls. When combined with screen capture capability, managers can review how agents navigate from one screen to another, and if they’re making optimal use of the reference tools at their disposal.

3. Improve Training
All call center agents are not created equal. Some walk in with the ideal personality and temperament for telephone work, and may only require coaching on specific product knowledge and call center procedures. Others can master those procedures but take too long in addressing a caller’s concerns. With call recording software it is much easier to tailor training to a specific agent’s needs, improving both agent efficiency and the time it takes to produce a qualified employee. This can dramatically reduce wasted resources on training that is not necessary.

4. Increase Agent Retention
Once an effective agent has been trained and is making a valuable contribution to the call center, it’s important to keep them to avoid the costs associated with hiring and training someone new. With call center recording, managers can quickly discern which agents are top performers, and reward them through recognition and incentive programs. An agent that believes his or her contribution is appreciated is one that will continue to provide outstanding customer service, and one that is more likely to remain with the company.

5. Improve First Call Resolutions
Few statistics are more important in a call center than First Call Resolution. When this is achieved a customer issue is solved with maximum efficiency, and the customer is much more likely to be satisfied with the call center encounter, and will remain a customer in the future. When first call resolution fails as a result of an agent’s inability, these situations must be quickly identified and corrected. Call recording software locates these instances and provides insight into what went wrong, so it can be quickly rectified.

You can watch this call recording demo video to better illustrate the above mentioned ROI drivers. Also, ROI is always related to an investment, so when calculating an ROI, you also need to consider the upfront cost of purchasing and implementing the software. That's where cloud-based call recording software provides an additional advantage compared to traditional installed software.