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The difference between a company that's in the red and one that's in the black is identified in their customer service capabilities. Increasingly, companies are learning that live chat is a tool that can dramatically boost their communication efforts with clients and customers and lead to higher profits.

According to a recent BoldChat white paper, there is more than one option of live chat solutions available with many vendors offering a variety of products, and the cheapest option isn't always the best. It’s important to make sure the value of the product is comparable to the cost. Decision makers also need to make sure the fees to set-up the live chat are factored in to the budget of the project.

Some of the more difficult deployments will require a third party to assist in setting up the solution. Before deciding on a vendor, however, you need to take the time to evaluate your options and right fit the solution according to your needs and your environment. Here, you’ll find tips on what to consider before selecting your live chat solution.

Time is of the essence for many companies, and downtime isn't a consideration for others. Take note of how fast a solution can be up and running and whether or not installing that solution will affect other business processes. Be sure to ask the vendor their history on the speed at which they've deployed their product at other institutions.

Also, check to see what other types of customers the vendor has serviced. The live chat vendor should have plenty of experience in dealing with like industries, which can be a great asset when it comes to configuring regulation issues. If the vendor balks at sharing this history, pass on them and go to the next best option.

Even the best live chat options will hiccup from time to time. Make sure the vendors that make the final checklist have excellent support services that will available 24 hours a day in case of emergency. Having more control over troubleshooting is important, but so is having control over how the solution is configured.

Choose a vendor with a live chat product that allows complete flexibility to make large and small changes without hassles. Companies today need to be able to respond to the quickly changing market dynamic and the various applications, including live chat, shouldn't be a roadblock.

Finally, make sure the company actually needs a live chat solution. It shouldn't be a replacement for actual human interaction. Live chat is best used for those situations where the customer prefers that type of interaction or if the company finds it cost effective to implement this type of solution. In many cases, live chat will enhance the customer experience and could lead to a more human touch later in the sales process.