Booz Allen Hamilton has indicated that banks looking to make a
success of their call centre operations should focus less on the
straw man argument of onshore versus offshore, and instead
concentrate on the fundamentals of an integrated, personalised
service.
Booz Allen cited Wachovia as a best practice example, noting that
the bank’s call centres consistently outperform its US rivals’ in
terms of customer satisfaction. Wachovia, the fourth-largest US
banking group, does not seek to outsource its call centres on a
purely cost-driven basis. The institution has 13 call centres based
in the US, and will only open its first offshore centre in 2008 in
order to smooth the progress of its 24-hour services.
Go deeper with GlobalData
The fragmented organisation
But, according to the study, financial services firms and other
businesses have yet to fully appreciate that technology now renders
irrelevant many of the traditional issues surrounding call centre
performance. The fragmented organisation of the typical call centre
belies this: customer data is frequently divided between different
systems and sales channels. Just 58 percent of bank call centres
are integrated with other customer access channels; only 49 percent
are able to update customer data for all areas of the
company.
The solution, according to the consultancy, is to establish a
‘smart centre’, a unified system that allows agents to work across
all contact channels simultaneously. The centres successfully
challenge the assumption that customers cannot be migrated from
their initial communication channel of choice, as well as limiting
the incidence of multiple customer handoffs and poor personnel
utilisation, two of the most common inefficiencies within call
centres.
Another bank singled out for impressive performance, HSBC’s UK
direct unit first direct, also places a strong emphasis on all-day
service, as well as highly knowledgeable staff who are given
intensive cross-product training. Some 90 percent of calls are
dealt with by the initial point of contact; 13,000 calls are
received every day outside traditional office hours. Calls are
always answered by ‘real’ people and do not involve interactive
voice response systems, a strong selling point for the
company.
Citing examples such as first direct, the study asserts that the
cost of introducing more capable staff within contact centres is
fully offset by efficiency gains, improved staff retention levels
and, crucially, increased revenue courtesy of higher customer
satisfaction rates.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLower cost communication channels
A holistic approach to customer service makes lower-cost
communication channels more viable, says Booz Allen. For the
financial services sector, the penetration of online channels,
typically a weak link for call centres, can be increased via the
introduction of processes that can handle customer complaints,
clarify service charges and deal with a range of online banking
enquiries.
Call centres are likely to prove successful when efficient,
accessible and tailored offerings combine to produce a personalised
service. Integrating customer profiles with contact histories and
smart prompts (automated checks that guard against system
oversights), for example, is likely to capture a higher level of
customer value than conventional, fragmented assistance
procedures.
The report concludes that a qualitative as opposed to quantitative
approach is essential. Centres should not make the mistake of
assuming that because call volumes and average call times show
strong performance, the number of repeat calls made by a customer
and the accuracy of information provided to them will be similarly
impressive. Integrating both internal procedures and client-facing
services enables banks to boost staff retention levels and more
accurately meet the needs of customers.
