Off-the-shelf Quality Assessment tools often replace in-house built solutions or spreadsheets. Making the transition and committing to buying a product or paying a monthly fee for something you have now for free is a big decision therefore its key to get to grips with ROI during testing, before you make any commitments.
ROI for quality assessment tools can be achieved in different ways; ‘hard’ gains: improvements in productivity that deliver real savings and ‘soft’ gains which cannot be quantified in monetary terms but do impact the cost of operation over the longer term.
Example of Hard Benefgits reported by Scorebuddy clients
- Significant Full Time Equivalent (FTE) savings for Quality Analysts; 40% in the areas of report preparation and delivery.
- Time to score a call has reduced by 37.5%, reducing from 8 to 5 minutes.
- Team Leader review preparation time improved by 20%, reducing from 10 to 8 minutes
Example Soft Benefits reported by Scorebuddy clients
- Improved Agent Attrition
- Increased Sales or Reduced Customer Churn
- Reduced debtor days
- Significant improvements in agent engagement in the QA process
- Improved Training Effectiveness
The basic formula for calculating ROI is given below showing that the two figures required are; the gains acquired from the investment and the costs associated with investment.
Gains from Investing in a Quality Assessment tool for Call Centres
To identify the gains from the investment there are a number of questions you can ask, these need to be compared to what you are using before the investment. Below are a list of questions that serve the purpose, however each company should customize the set of questions so that they are suitable to their needs and priorities.
Sample Questions Used to Identify Gains
How long does it take you to gather Quality Data?
How long does it take you to prepare reports?
How much time do you spend communicating analysis to team leaders?
How long do you spend analysing reports?
What is the average time it takes to score a call?
What is the average time it takes to prepare per review?
How long do face to face reviews take (minutes per month)?
What is the average quality score?
What is the average agent engagement level?
What is the agent attrition level?
Gains can be converted to a monetary value by associating the cost per staff type per hour, for example;
3 minutes are gained per score and there are 100 scores per month, therefore 300 minutes per month are saved. 300 minutes is equal to 50 hours. If the loaded cost of a team leader per hour is £20, then £1,000 will be gained each month on this element.
Gains could also be converted to monetary value by an associated benefit, for example if 2% in quality score increases customer satisfaction by 1% you could apply the value associated with increasing C-SAT by 1% to every 2% increase in quality score.
Costs of Investing in a Quality Assessment tool for Call Centres
Generally calculating the costs of the investment is relatively straight forward and include the following three items;
Time attributed to setting the system up.
Training costs (if there are any).
Calculate the Return on Investment for Scorebuddy's Quality Monitoring Solution.
We decided to make things easy for you when you are assessing Scorebuddy and built a Return on Investment Calculator. Click on the link and get your ROI figure in minutes!
Have you any other suggestions for calculating the ROI of a quality Assessment tool for call centres? Let us know on our LinkedIn Company page today.
What call centres say about the ROI of our Quality Assessment tool; Scorebuddy:
“Immediately we received a return on investment on Scorebuddy, immediately. What used to take us 8 days now takes 8 hours”. - Louise Fairman, People & Development Manager, Aktiv Kapital