How Speech Analytics Can Reduce Costs & Improve Contact Center Efficiency (Case Study Examples)

Fact: Contact centers are set up to handle all customer communications (inquiries, complaints, etc.) and have a direct influence on the customer experience.

Fact: Contact centers can also be huge cost centers.

“It’s unfortunate, but [many companies view] contact centers as the redheaded child,” says Ross Haskell, senior director of products at LogMeIn’s BoldChat Products, in a Smart Customer Service article. “They don’t provide any value; they just cost money.”

So what can contact centers do to reduce costs and improve efficiency? Let’s take a look at a few case study examples of CallMiner customers using speech analytics technology to drive measurable results:

USCB, Inc.

A leader in providing innovative business process outsourcing and accounts receivable management solutions to some of the largest healthcare providers, institutional credit grantors, and government municipalities, USCB, Inc. strives to help its clients improve management efficiencies, increase cash flow, decrease administrative burden A/R and redundancy, and reduce overall operating expenses.

In order to become the “vendor of choice” in the delivery of all aspects of receivable & resource management solutions, USCB turned to CallMiner speech analytics to improve its quality monitoring process, increase insights into customer behavior, boost agent performance, meet compliance regulations, and more.

Since deploying speech analytics, USCB has solved the following operational challenges:

  • Improved call center efficiencies (i.e., reduced call handling times, increased first call resolution, etc.)
  • Reduced effort associated with agent quality monitoring
  • Increased compliance resulting in reduced lawsuits/complaints/escalations
  • Improved customer satisfaction

According to Vice President Pedro Guijarro, USCB realized a return on investment nine to twelve months after implementing the technology. “CallMiner speech analytics has improved the overall performance of agents in our contact center,” he says. “Management is greatly impressed with the application.”

Encore Capital Group, Inc.

When Encore Capital Group, a leading provider of debt and recovery management solutions, needed to improve the performance of agents in the call center and thereby increase revenue, the company selected CallMiner from a group of 20 different vendors.

CallMiner’s multi-channel analytics, agent performance portals (myEureka), Semantic Building Blocks, and full text transcription in particular helped the company realize a return on investment within a year of deploying speech technology. Encore Capital Group has also been able to increase sales/revenue and reduce call center operating costs by 10% during that time.

Rick Britt, Consumer Data Management and Strategy at Encore Capital Group, notes that the implementation of speech analytics has helped the organization improve contact center efficiency overall. “The addition of speech analytics has been foundational to Encore,” he says. “It’s becoming ubiquitous with our core operations.”

The Results Companies

The Results Companies purchased CallMiner speech analytics to improve contact center efficiency (i.e., quality monitoring process, agent performance, etc.), meet compliance regulations, and differentiate itself from the competition.

After evaluating a series of analytics vendors, the company selected CallMiner, finding the following factors to be particularly valuable to the organization:

  • Multi-channel analytics
  • Sentiment analysis
  • Automated call categorization
  • Automated call scoring
  • Sensitive data redaction
  • Semantic Building Blocks
  • Full text transcription

Since implementing CallMiner speech analytics, the company has solved a number of operational challenges, including improved call center efficiencies, reduced effort associated with agent quality monitoring, increased compliance (resulting in fewer lawsuits/complaints/escalations), and accelerated agent onboarding/training.

According to the company’s VP of Call Center Operations, Daniel Dougherty, the organization highly values CallMiner’s product price/features, sales process, and ongoing support and service, all of which were key measures influencing its decision to purchase CallMiner speech analytics.

Medium Enterprise Retail Company

A medium enterprise retail company sought out CallMiner speech analytics technology to improve its quality monitoring process, contact center efficiency, and overall agent performance – and to reduce costs.

Within a year of deploying speech analytics, the company has reduced the effort associated with agent quality monitoring and improved customer satisfaction. CallMiner’s automated call scoring and agent performance portals (myEureka) have been most valuable to the organization for improving agent performance and overall contact center efficiency.

“Our quality staff is half what it was before CallMiner analytics,” notes the company. “The QA specialists now spend the majority of their time coaching and improving our agents rather than listening to calls. Our agents get more coaching and therefore have improved CSAT.

Final Thoughts

The above case study results highlight the various ways in which CallMiner’s speech technology has helped organizations across a variety of industries improve contact center efficiency and reduce costs. As noted by one of our customers in the collections industry, CallMiner helps companies go from being reactive to proactive organizations.

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Interested in seeing how CallMiner speech analytics can help solve your pressing business objectives in your contact center environment? Watch this customized demonstration of how the suite of CallMiner Eureka solutions can optimize your business objectives such as:

- Customer Experience
- Contact Center Efficiency
- Sales Effectiveness
- Risk & Compliance
- Performance Management

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