It’s been said before that interactive voice response (IVR) technology may offer salvation to smaller businesses. Indeed, an IVR eliminates the need to hire employees to act only as call center agents, saving money while still providing quality service to customers over the phone. Recent data from contact center solutions provider Genesys (News - Alert) suggests that the value of a complete omnichannel engagement solution, complete with IVR, is just as prevalent among large companies.
Genesys has released the results of the commissioned Total Economic Impact study, conducted by Forrester (News - Alert) Consulting. The study, which examines the return on investment of deploying the Genesys Customer Experience Platform by large companies, reveals that Genesys customers were able to realize a 158 percent return on investment (ROI) within five years of the date of purchase. Companies in the study using Genesys solutions saw an ROI in less than 13 months.
Other benefits of Genesys’ contact center solutions revealed in the study include business improvements like enhanced e-commerce sales conversions, boosted customer engagement and improved agent productivity. Despite the proven effectiveness of its entire Customer Experience Platform, Genesys recently acquired SpeechStorm (News - Alert) to enhance the self-service capabilities of its core offering, particularly in the areas of IVR and Web engagement.
“For organizations, the study demonstrates the value of a modernized customer engagement strategy using an omnichannel engagement center to improve revenue, lower operational costs and increase employee satisfaction,” said Reed Henry, chief marketing officer at Genesys. “The Genesys Customer Experience Platform powers this next generation customer engagement solution, acting as the system of engagement across the journeys in the customer lifecycle to deliver personalized, omnichannel experiences.”
The Forrester study also shows that when companies enhance their customer interactions through the Omnichannel Engagement Center Solution, they experience improved e-commerce conversions, reduced cost in contact center maintenance, and faster agent resolution times. These benefits translated to a 50 percent reduction in customer abandonment at key points in the customer journey for companies included in the study. These companies also achieved over $1 million in increased revenue through increased e-commerce and voice conversions.