WFM Solutions – How Cost Effective are They?
In order to provide their customers with the best possible customer service experience, contact centers need to have a well-managed workforce. This is where workforce management (WFM) solutions come into play. They leverage data insights to help contact centers optimize their staff and operations, which leads to decreased costs and improved workflows. In this blog post, we will discuss the benefits of workforce management solutions and how they contribute to cost effectiveness.
TCO and Cost Effectiveness For Contact Centers
When it comes to maximizing workforce management, many contact centers tend to focus on the hard costs associated with their operations. This includes things like salaries, benefits, and training expenses. However, there are other factors that contribute to a contact center’s TCO, such as training, management and support, as well as acquisition and maintenance costs, just to name a few.
TCO is vastly important for reducing costs and determining a company’s return on investment (ROI) on tools like WFM solutions. It informs companies of the impact on their bottom line of certain tools or products that they’ve invested in. By examining the TCO of their workforce, contact centers can get a more holistic view of the costs associated with their operations.
How Leveraging Data Insights Contributes To Your Bottom Line
As the customer service landscape changes and becomes more complex, contact centers are turning to WFM solutions to help them better manage their staff and operations. Quantifying data from agent interactions with customers can be extremely impactful for any contact center’s bottom line, and allows companies to gain insights on agent performance, demand, and the quality of their customer service.
WFM solutions use data to help contact centers schedule their staff more efficiently. They take into account things like historical call patterns to create a schedule that will meet customer demand without overstaffing or understaffing. Further, they analyze the quality and process adherence of agent and customer interactions through speech analytics. This helps to identify areas of improvement and make necessary changes to workforce management processes. And the more optimized processes become, the more value WFM solutions can provide overtime.
Being data driven isn’t just advantageous to employers. In fact, agents can reap the benefits as well by empowering employees to adjust their own schedules, take time off, and switch shifts through a portal or app. Not only does this reduce administrative overhead, but it leads to higher morale in the workplace. Better flexibility and work-life balance directly correlates to lower turnover, higher productivity levels, and ultimately improved customer support.
Why DVS Is A Proven Cost-Effective WFM Solution
In a world where companies are looking for ways to reduce costs, DVS provides an analytics solution that has been shown to reduce TCO by 30 – 50% on average. Our cloud-based platform is scalable and can grow with your company, ensuring you have the necessary tools to optimize your workforce while maintaining first-class customer service.
Our team is dedicated to providing exceptional value and we offer free and unlimited training, as well as upgrades including labor, so that our customers feel confident that they’re getting the most value from our solutions.
Contact us today to learn more about how we can help you reduce expenses and improve your contact center’s bottom line.