How to use the Callbi Speech Analytics ROI Calculator
Exploring the Callbi Speech Analytics ROI Calculator comes with absolutely no risks or costs.
It does, however, have potentially great benefits and will lay bare how small changes in your contact centre can have big financial consequences.
One of the key fundamentals of running an effective and efficient contact centre is to know, without doubt, the operational metrics of running a contact centre. Once you have accurate financial data you can model and calculate return on investment (ROI).
Return on investment is the one phrase understood in the boardroom. It allows operational managers to negotiate and make decisions from a position of strength and real data for the assets that they need, whether it is technology, additional staffing in centres and any other investments that are necessary to drive optimised performance in the contact centre.
Getting started
1. Fill in your operational metrics
The ROI Calculator is shown, with the following parameters to be filled in:
a Number of agents
b Call volume
c Fully loaded cost per seat including salary, benefits, tech & overhead
d Average Handle Time (seconds) applied to voice and text messaging
e Annual Staff Attrition Rate (%) critically important in a high turnover industry
All of these numbers, or estimates of them, will be known in your operation.
Take a look at the Calculator above and fill in the example values as described.
Firstly, the slider at a can be used to adjust your number of agents. Here you can enter the number of agents in your operation. We used 50 as an example.
Next set the total monthly call volume at b to the correct value. We used 75000 in this example.
The cost per agent seat value at c can be adjusted next. For this example, R20,000 was used.
The Average Handling Time of a voice or text interaction in your call centre can be adjusted at d. We used 240 seconds in this example.
Lastly the attrition value is adjusted at e. We will use an attrition value of 30%.
All of these numbers will be known in your operation. Once these are filled in, we can look at how technology, such as Callbi Speech Analytics, will allow us to reduce the Average Handling Time, reduce call volume (avoidable call reduction), and reduce attrition.
Now with this data in place we can look at how using speech analytics can drive actionable insights and therefore improve operations.
2. Fill in possible reduction values to see the impact on possible cost savings
It is important to note that these reductions in Average Handling Time, call volume and attrition are shown to be viable, by using technology such as Callbi Speech Analytics.
We have masses of data available on this, having deployed at over 200 sites in South Africa, and we have numerous case studies available to support these claims that speech analytics can drive down costs while improving overall performance.
Fill in the example values as described here to get to know the calculator:
If the sliders at f, g and h are adjusted the total savings per month can be seen at the right. For example, if Average Handling Time Reduction at f is adjusted to 4% and Avoidable Call Reduction at g is set to 3% and Attrition Reduction at h is set to 10% an estimated total monthly saving of R118,944 can be seen at i (a staggering R1,427,333 estimated yearly saving).
The values at f, g and h are typical reduction values that we have seen from numerous case studies and over lots of different operations.
You can play around with these values at f, g and h to get your total estimated savings.
The breakdown of how the cost is calculated is given below at j. The estimated cost reduction is seen as 11.9% which sounds great.
The estimated ROI is shown in the blue block at k as fifteen times the investment.
This means when using Callbi Speech Analytics, for every R1 invested it can save R15.
Conclusion
The Callbi Speech Analytics ROI Calculator connects speech analytics to financial outcomes, so that you can see the upside and the risk in plain numbers.
Once you have explored the calculator, you will see that it demonstrates that by using Callbi Speech Analytics, cost can be reduced while performance is increased. Get in touch here if you would like to learn more.
Callbi Speech Analytics, can reduce cost, while increasing performance
If you need to evaluate the possible impact of speech analytics on your call centre, explore our ROI Calculator here.