90% Automation Rate Improves Call Flow and Customer Experience
Plum DEV, VoiceTrends
Account Inquiry, Card Activation
Improve Call Flow and Customer Service Response with Plum DEV
A major Financial Services Company (MFSC) wanted better control of the incoming call flow and custom service response to improve and optimize the customer experience. MFSC created applications using Plum DEV that automated customer integrations and intelligently routed calls to various contact centers based on real-time call flow metrics. MFSC also used the VoiceTrends toolkit to make actionable decisions based on collected call data to improve the customer experience.
90% Automation Rate
<10% of Calls Handled By Agents
Major Financial Services Company (MFSC) provides customer service to end-users for financial services companies across the United States. MFSC offers a range of customizable products, and their operation needs to be flexible to serve diverse customers with different needs.
Before working with Plum Voice, MFSC’s automation vendor handled some customer inquiries well, but failed to address the needs of high-value customers using specialized products. In addition, the company didn’t use interactive voice response (IVR) to its fullest potential. In turn, agents handled many routine calls that could be automated, driving up costs.
MFSC had several communications applications in place, but the company outsourced the creation and maintenance of those apps. As the company grew, it became clear that the value of these applications increased. MFSC decided to take control of all aspects of their apps, leading them to Plum Voice which provided a secure platform and tools, Plum DEV and VoiceTrends.
MFSC realized that increased automation rates would reduce agent talk time and the number of redundant calls received. The company chose the Plum Voice scalable communications platform to handle its automation needs. MFSC’s developers built a range of applications with Plum DEV on the Plum Voice platform, enabling the company to separate automated tasks from those better serviced by live agents.
By using IVR as a central location for receiving incoming calls in the cloud, MFSC could own and control the initial customer interaction. As a company that outsourced most of its call center needs, Plum DEV allowed MFSC to create dynamic call routing rules in the IVR for transferring calls between its multiple call centers. With this intelligent call routing capability, the IVR transferred calls to agents best suited or trained to handle specific customer needs.
When MFSC’s voice automated application was up and running, MFSC implemented a continuous improvement program using advanced call analytics provided by VoiceTrends. The data gleaned from VoiceTrends allowed the company to pinpoint problem areas within applications that led to abandoned calls, high transfer rates and customer frustration. These analytics allowed MFSC to update and optimize its automated applications daily or as needed.
After implementing the IVR system, the voice automation application handled over 90% of customer service calls. Live agents dealt with less than 10% of all incoming calls received by the company. MFSC saw similar improvements in the company’s net promoter score (NPS) and customer satisfaction scores (CSAT). Not only was MFSC able to save money with a better, more intelligent automated solution, but they improved the customer experience.
Controlling the flow of incoming calls and simplifying the initial customer interaction with an IVR system has proven beneficial to MFSC. When the company brought some live agents in-house to serve the most high-touch customers, it was easy because the technology infrastructure was already in place. The IVR application also helped MFSC maximize its business process outsourcing (BPO) needs by utilizing data to normalize expectations across all vendors.
By creating a more efficient, cost-effective solution, Plum Voice empowered MFSC to manage its growth and remain flexible to changing conditions within the company and the financial services industry. The company addressed all of this while maintaining high levels of customer satisfaction.