Optimal decision making requires the right insights based on the right information, but often we lack the right information until after the fact. How often has it been said, “If only I knew then what I know now”?
And while contact centers are managed by smart people, they many times lack the right information. It happens regularly — 80% of companies rely on stale data for decision making, and 58% of businesspeople surveyed said they base at least half their decisions on gut feeling or experience rather than on data and information.
What’s wrong with contact center information? Nothing! It’s what’s missing that’s the problem, and what’s missing in contact centers is Financial Clarity.
What is financial clarity for contact centers?
Financial clarity is when decision-makers at all levels have a clear and precise view of the economics of customer experience across all channels, teams, and customers in near real-time. For example, what is the precise cost of handle times or order entry by customer or queue, and just how much of that money is there to be captured by a proposed new process?
This business intelligence precedes final decisions, and answers the question, “by how much will this decision improve contact center financial performance, and through which metrics can we manage its deployment such that we achieve both our financial and quality objectives?”. Whether it’s training, technology, staffing, or more operations, Financial Clarity eliminates any SWAG!
And when you consider almost every decision is meant to drive outcomes that positively impact your company’s financials, gaining Finacial Clarity should be seen as mandatory to existence.
The 3 Pillars of Financial Clarity
Just as a triangle is the strongest geometric shape, financial clarity provides three key components fundamental to superior contact center performance:
- Financial Translation — every metric used to make decisions is translated to its exact dollar value. Even if that metric isn’t financially based (i.e. average ready time), it is translated to its exact dollar value.
- Laser Precision — every metric must show financial detail down to its “atomic-level”. Imagine if a heart doctor’s instruments could only examine the whole body, and not the heart itself.
- Real-Time — financial insights must be continuous, and not one-off ad hoc results that stale the moment they’re produced.
WiserOwl Financial clarity for contact centers
WiserOwl’s unique solution reveals contact center hidden financial problems by showing where their money is working — and where it isn’t — by reporting exact costs for every contact center measure across all levels and channels in near real-time.
Within literal seconds, contact center managers at all levels instantly know what’s working well, and what isn’t no matter where the work is performed. They gain a perspective that levels the performance playing field world wide.
For contact centers something amazing happens when executive leadership finally see how well contact center money is working down to the individual process and agent. Old assumptions are either confirmed or disproven. Higher levels of success take hold. The people who run these critical business functions finally have Financial Clarity at their fingertips to make the most informed decisions.
go beyond traditional metrics, and see what financial clarity can do for your contact centers
Too see how just how much potential your contact centers have hidden from view, WiserOwl can provide a view of your operation without impacting data privacy issues, in 30 days or less. Don’t waste your next big decision!
