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Tangent Telecom delivers up to 56% improvement for Major UK Financial Services company
21 April 2003 - Cambridge, UK |
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The client, a major UK financial services company, was concerned that almost 50% of callers were failing the identification and verification task in order to access the automated self-serve system. The client’s assumption was that callers were unwilling to use IVR and were deliberately choosing to route to an agent. Tangent Telecom was engaged to test the client’s assumptions and to redesign the service to encourage customer self-service using the IVR. The results included quite unexpected conclusions, but ultimately a successful implementation was provided enabling large cost savings to be realised along with improved customer satisfaction results. |
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The brief contained some stringent requirements, including:
- No new technology could be implemented
- The information requested for Identification and Verification must remain the same
- The service should encourage callers to use the service, without changing the task to be performed
- The Identification and Verification task should be consistent with the rest of the IVR dialogue
A detailed examination was undertaken by Tangent Telecom on the way the existing service was implemented and to discover where callers were failing within the identification and verification routine. Results showed that whilst 15% of callers did not attempt to enter any details at all, 35% were trying, but failing, to enter information successfully. It was evident that most callers were actually willing to use the service, but simply could not understand how to do so. |
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On the basis of this information, Tangent Telecom completely redesigned the identification and verification routine, with the emphasis on making it as simple, informative and intuitive for callers to use as possible. As per the brief, no additional hardware or software was required – the redesign utilised state-of-the-art dialogue design techniques to elicit correct responses from callers, and efficient customer call handling was achieved.
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Results for the system now show a 56% improvement in the successful identification and verification of callers, with over 75% of callers now being identified and verified successfully by the new IVR dialogue. This has meant an increase in customer self-service, reduction in mundane agent tasks and greater efficiency savings equating to an estimated cost saving in excess of £¾ million per year.
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Ongoing customer surveys have further highlighted increased customer satisfaction as a direct result of improved identification and validation rates. This one project has achieved the entire annual target for both increased IVR self-service and customer satisfaction improvement for the client.
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“The approach taken by Tangent Telecom to provide a solution to overcome customer self-service issues was innovative and thought-provoking. We already had the technology in place to achieve a simple, fast and efficient service that was not reflected in our customers’ actions. The dialogue engineering carried out by their speech scientists has enabled us to improve our customer self-service statistics, achieve greater customer satisfaction, increase customer loyalty and achieve substantial cost savings.” – Director of Operations
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© Copyright Tangent Telecom Ltd.
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