mySQM™ FCR Insights - Standard Features Overview
The standard features of mySQM™ FCR Insights software are designed on a SaaS platform to help call centers capture, analyze, benchmark, report, and action customer and employee experience. Our customer experience measurement software is highly customizable to meet your call center’s specific needs and FCR improvement opportunities. The core software features provide powerful insights based on customer and employee survey data to assist agents, analysts, and leaders improve their FCR and reduce their operating costs. These features are the fundamentals of mySQM™ FCR Insights software and are enhanced by the features of Personalized Intelligence™.
Data Capture
Capture, store, and access customer and employee survey data from any survey methodology or internal data source. Put simply, all surveys and internal data can be stored in one place. By consolidating your data sources into one tool, you receive comprehensive insights into your call center's FCR, Call Handling, Cost, QA, CX, and EX performance. Audio capture is also stored in our software. Data and audio can co-exists in the same database. Raw data can be easily exported through the scheduled and customizable features of the software.
Data Analytics
The software provides data analytics for assessing performance and identifying service and cost improvement opportunities from the agent to the call center level. Preconfigured reports assess performance and provide targeted opportunities for FCR, CSat, and cost improvement. Data analysis can also be completely customized to meet your needs through our advanced pivot table functionality. Easily conduct repeat call root cause analysis through our sophisticated repeat call tagging system. Benchmark your performance from the agent to the call center level against average and world class performers.
Data Visualization
SQM software provides comprehensive data visualization (e.g., FCR, CX, EX, cost, AHT, QA, etc.) reporting from the agent to the call center level. This approach ensures a holistic 360 view to help agents, and managers measure and improve their service and cost performance. Data visualization is highly flexible and can be easily customized and saved to be reused.
Highly Customizable
Our software allows you to easily customize many features including: home page, reporting, data filters, access levels, real-time notifications, and metrics. Highly customizable features allow your employees to focus on what is important to them and your call center.
Real-Time Notifications
Real-time notifications can be customized so that you can act quickly to improve FCR and CX. For example, receive real-time service recovery notifications so that you can act quickly on customer complaints. Also, receive real-time notifications about world class interactions so that you can recognize great agent service delivery.
Recorded Customer Feedback
Listen to the actual voice of the customer from their experience using your call center. Hear the joy, or pain in the customer's voice in the interactions they have with your agents and leverage this for powerful coaching and recognition opportunities.
mySQM™ FCR Insights — Business Case
Learn about the business case for using mySQM™ FCR Insights software to improve your operating costs and customer experience by focusing on first call resolution, call resolution, and customer satisfaction metrics at the call center and customer representative levels.
For every 1% improvement in FCR, you reduce your operating costs by 1%.
Reduce Operating Costs
For every 1% improvement in FCR, you reduce your operating costs by 1%.
- For a call center performing at the FCR industry average of 70%, potentially 30% of customers will have to call back because their issue was not resolved on the first call.
- For the average call center, it takes 1.4 calls to resolve a customer’s inquiry. For 30% of customers who do not achieve FCR, it takes 2.5 calls to resolve their inquiry.
- Repeat calls represent 23% of the average call center’s operating budget, which is an enormous opportunity to reduce a call center’s operating costs.
- For the average midsize call center, a 1% improvement in their FCR performance equals $286,000 in annual operational savings.
98% of customers will continue to do business with the organization as a result of achieving FCR.
Reduce Customers at Risk of Defection
98% of customers will continue to do business with the organization as a result of achieving FCR.
- If the call was unresolved, 23% of customers express their intent to not continue to use the organization’s products and services as a result of their call center experience.
- The savings from preventing customer defections can be 5X greater than operational savings.
- For many call centers, retaining customers represents the biggest opportunity to add true value to their organization.
- Resolving calls is the key to reducing customers at risk.
- For every 2% improvement in FCR there is a 1% improvement in call resolution, helping the call center retain customers.
For every 1% improvement in FCR there is a 1% improvement in Csat.
Improve Customer Satisfaction
For every 1% improvement in FCR there is a 1% improvement in Csat.
- FCR is the metric with the highest correlation to Csat out of all call center internal or external metrics.
- The absence of FCR is the strongest driver of customer dissatisfaction.
- Csat (top box response) average drops 15% every time a customer has to call back to get their initial call resolved.
- If a customer had to call in three times to get their call resolved, their Csat would be 30% lower than a customer who had their call resolved on the first call.
- On average, 14% of customers describe their call as a complaint call. For every 5% improvement in FCR you reduce your complaint calls by 1%.
For every 1% improvement in FCR there can be a 1% to 5% improvement in Esat.
Improve Employee Satisfaction
For every 1% improvement in FCR there is a 1% to 5% improvement in Esat.
- Call centers with high FCR tend to have high Esat. Conversely, call centers with low FCR tend to have low Esat.
- The level of stress is very high for the CSR who handles the second or third call when a customer’s issue was unresolved on the first call.
- Increasing FCR improves both Esat and Csat. Consistently resolving inquiries on the first call can increase Esat substantially.
- Most call center managers understand that high Esat can provide high Csat/FCR, but high Csat/FCR can drive high Esat too.
When a customer's call is resolved the customer cross-selling acceptance rate increases by up to 20%.
Increase Opportunities to Sell
When a customer's call is resolved the customer cross-selling acceptance rate increases by up to 20%.
- SQM’s research shows that the customer’s needs must be resolved before the CSR has earned the right to move on to any type of sales activity.
- If the CSR cross-sells before the inquiry or problem is resolved, the customer typically becomes irritated.
- The customer can feel that the organization is pushing its needs, rather than serving the customer’s needs.
- Focusing on business needs versus customer needs can cause the fundamental customer relationship to be undermined.
The top agents for FCR cost per call resolution is 35% lower than the bottom agents for FCR.
Create More High Performing Agents
The top agents for FCR cost per call resolution is 35% lower than the bottom agents for FCR.
- Average revenue lost to customer defections is $1,011,264 per agent.
- Revenue loss due to customer defections is 100% higher for the worst 15% of agents than for the best 15% of agents.
- Cost per call resolution factors in cost and how many calls it took for the customer’s call to be resolved. The average cost per call resolution is $12.35.
- The average cost per call resolution for the best agents is $9.70, and for the worst agents is $14.56.
- Creating more high-performing agents is one of the best ways to lower costs and retain customers.
Request a Demo
Learn more about the mySQM™ FCR Insights platform, find out how SQM can help your call center improve customer and employee experience, and take advantage of the power of Personalized Intelligence™ to improve your FCR.
Reach out today to book your demo.