Quality Management and Logging Drive Contact Center Success
Quality Management and Logging Drive Contact Center Success
By Donna Fluss
Quality management (QM) and logging used to be optional in contact centers, but no longer. Today, they are essential for both the success and protection of an enterprise. QM applications have grown during the past few years and now provide customer insights and competitive information besides measuring agent quality. And, in our litigious society, logging calls may be the only way to protect your contact center from frivolous lawsuits. If you don’t have these applications, or haven’t upgraded them in the past five years, it’s time to invest.
The QM and liability recording markets are now set for double-digit market gains because of the tremendous value they bring to enterprises. These applications – when properly selected and implemented – help contact centers achieve the most important challenge they face today: increasing revenue while keeping costs in line. They achieve this essential goal by measuring agent adherence to policy and procedures, improving agent training through eLearning, conducting customer surveys, using speech analytics to identify customer needs and wants, and by using performance management solutions geared to assess all aspects of agent and departmental performance.
Even better, these technologies offer a quantifiable return on investment (ROI), often in as little as six months.
But the benefits don’t stop there.
QM applications also improve contact center quality, which keeps customers happy and loyal, improves agent satisfaction and decreases both customer and agent attrition.
If the promise of QM and liability recording technologies seems exciting, then consider this: several trends are converging that will drive the market to new highs. In fact, new DMG Consulting LLC research projects sales of QM and liability recording solutions will grow by 8% to 12% and 10% to 15% respectively in 2004, with even greater growth in 2005.
Sales of related newer applications, such as eLearning, analytics, speech analytics and performance management, are expected to grow at an even faster rate.
What’s Fueling the Growth?
The most important factors driving the QM/liability recording markets include:
- Legislation – HIPPA legislation, impacting health care and insurance companies, and the Do Not Call provisions of the Federal Trade Commission’s (FTC) Telemarketing Sales Rule Registry that went into full effect in October 2003, are forcing companies to alter the way they do business. Many are deciding that it’s more cost effective to log 100% of their calls than to face potential litigation.
- Migration from cost centers to profit centers – inbound contact centers that provide mainly service but also do any selling (even up-sell and cross-sell) need to record certain calls, forcing them to invest in logging solutions.
- Formalization and centralization of QM functions – most contact centers do some form of QM and the importance of QM increases as a center grows. At some point, companies realize that it is more productive and cost effective to systematize, standardize and centralize the quality management function. Once this conclusion is reached, organizations often decide to replace their homegrown processes with a packaged application.
- Replacing old and outdated logging equipment – there is a great deal of old logging equipment that is no longer 100% dependable, a basic requirement for a recording system. In some situations, it’s an analog solution that struggles to record digital calls, resulting in poor quality. In other cases, calls that appear to have been recorded can’t be retrieved and replayed. While there are many reasons why there is there is a lot of antiquated logging equipment in place today, organizations that have put off replacements are likely to buy new logging equipment during the next couple of years.
- Correlating customer satisfaction from surveys with quality management ratings – QM monitors and measures how well agents adhere to departmental guidelines and procedures. Customer satisfaction surveys measure consumers’ feelings about an organization, its products and the people who deliver its services. Enterprises need to review both survey results and internal quality assurance ratings to determine if corporate standards and processes are, in fact, ensuring that agents service customers properly and if customers, in turn, are satisfied with this service.
- eLearning, performance management and analytics – new technologies have been introduced to the market during the past couple of years, but tight budgets and the newness of the applications have prevented most organizations from investing in them. These solutions can improve the performance, productivity and quality of contact centers and increase revenue. If the economy continues to improve, contact centers are going to be looking for new ways to deliver on their mantra of doing more with less,” while continuing to open up and share customer data with peers in sales, marketing and other operating areas. These products will help them meet these ambitious goals.
Making the Right Choice
Enterprises that want to maintain or gain a competitive edge must take a serious look at purchasing or upgrading their QM and recording technologies The key is making the right technology selection in a market that’s anything but static. To do that, and save time and money in the process, you’ll need to:
- Learn the most up-to-date information about the QM/liability recording vendors, products and market.
- Get the product and pricing information you need to successfully negotiate the vendor selection process.
- Understand the major factors driving and shaping the future of the contact center and QM/liability recording markets.
This is the first article in a series on the maturing Quality Management/Liability Recording market. The series will include articles on leading companies, including: Envision, etalk, NICE, Verint, Witness, and an emerging company, Magnetic North.