Overview

One of the large customers in the customer experience space desired to explore new avenues of generating additional revenue without increasing expenses. The client received numerous calls and lost its revenue since a good number of callers would hang up after calling before they could be connected. We had to utilize our staff more effectively and transform those lost call cases into actual revenues.

The Challenge

Although the system of the client was powerful, 18-20 percent of the incoming calls were not answered, and hence they missed the billing opportunities. Since the model used by the client was based on the amount of money per minute a call was connected, a missed call resulted in wasted money. 

The main questions were –

• Why were callers not making calls, although there were enough staff? 
• Is it possible to use the existing system in a better way to reduce such losses?

Our Diagnosis

Nirvaana had realized that the workforce at the client was established just to meet the agreed contracted minutes in their deals. This did not correspond to fluctuations in the volume of calls, particularly in high seasons and weekend peaks. 

As a result –

• The number of callers was left behind as staff remained constant even with increased volume. 
• In the case of low call traffic, the agents were not busy, and the cost was greater. 
• This did not have a flexible staffing plan, and this was a direct loss of revenue.

The Approach

Being the WFM (Workforce Management) and RTA (Real-Time Analytics) partner of the client, Nirvana developed a plan based on the data with –

• Volume Analysis – We examined the volume of calls made in every account in a period of one year to find out the low and high volumes.
• Forecasting Model – We modeled or forecasted using time-series, and the weighted average for 3-6 month rolling forecasts that were also accurate at every interval. 
• Dynamic Staffing Plan – Transfer agents to faster accounts to provide relief when there are peak hours, cross-train agents to allow flexibility, and bring in new hires as a last resort. 
• Schedule Realignment – Develop superior shift plans capable of responding to in-time changes in volume.

The Results

• Increase in Revenues – The client received an increase of USD 70k-90k monthly. 
• Efficiency Increase – There was a reduction in call abandonment from 18-20 to less than 5%. 
• Customer Satisfaction – The customers experienced increased speed in response and improved service access. 
• Resource Optimization – There was a more efficient use of agents that was not accompanied by increased costs.

Key Takeaway

Nirvaana assisted the client in discovering lost revenue within their existing system by combining predictive forecasting with smart staffing to demonstrate that it is possible to beat adding people with smart plans.