Putnam Investments Optimizes Workforce with IEX
May 06, 2008
By Stefania Viscusi, Assignment Desk Editor
Looking to optimize their workforce, Putnam Investments, a mutual fund administrator, turned to IEX (News - Alert) for their IEX TotalView Multimedia feature. The offering helped the company to streamline their contact center by improving hours of operations as well as boosting productivity and agent utilization.
With over 500 agents serving more than 4 million customer contacts each year, Putnam Investments needed a solution that would blend their already in use internally-developed applications and that would increase their efficiency.
To help better address their planning and scheduling needs, Putnam looked for a solution that would provide insight from their collected data so that intraday planning would no longer rely on instinct.
Also, the company wanted to have a better view of agent skill sets to apply that element to the planning process as well and have a more functional and productive workforce.
With IEX, the company was able to "develop a connector to its document imaging system which could report document queue activity on a half-hour interval, providing service level, average handle time and backlog data much like a phone queue," a customer case study reveals.
"After we rolled out multimedia scheduling, our agents told us that they viewed it as a positive that they were seeing a greater variety of work, rather than sitting there doing the exact same thing all day," said Andrew Dennison, manager of analytics services at Putnam Investments.
Putnam was also able to benefit from improved operation hours. Now, instead of operating from 4 AM to midnight, the call center is able to run from 8 AM to 8 PM, and the number of agents being paid shift differential was reduced by 60 percent.
"We have been able to move away from a simple 'queue attack' strategy to one which addresses our high priority, short objective items in timely fashion," said Dennison.
"With the IEX TotalView Multimedia feature, we aren't just taking shots in the dark anymore based on stopwatch timing and historical transaction volume."
For more, check out the Workforce Optimization channel on TMCnet.
Stefania Viscusi is an established writer and avid reader. To see more of her articles, please visit Stefania Viscusi’s columnist page.