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Quantifying value within a contact center happens with ongoing monitoring and fine-tuning of analytics. From measuring first call resolutions and customer satisfaction to evaluating forecasting accuracy, the goal always is to deliver on the customer experience while meeting business needs. Quantifying the ROI of a contact center migration also is important and can be accomplished by calculating the value of benefits derived from moving to new contact center technology.
When weighing the decision to migrate to a new customer experience platform, this potential value should fit clearly into a long-term plan for meeting customers’ evolving needs and rising business demands.
In its simplest terms, ROI is a ratio of the gain from an investment relative to its cost. While business decisions should never be made solely on ROI, this calculation does provide important guidance when weighing an investment choice in new contact center technology.
Cost of Investment
When you think of what you’ll spend on a contact center migration, there’s the obvious cost of the technology that might include monthly or annual subscriptions per user. Don’t forget to include any additional users that you’ll need during peak seasons.
Along with the cost of the technology, you also should include what you’ll spend on IT labor and support. Consider the time your IT staff will need to ensure uptime, maintain hosted services, and configure IVR menus and workflows. You might need additional time for software user support, on boarding and permissions. And, if you require custom reporting or custom integrations, add these additional hours. You also could have extra implementation costs, such as additional hardware or professional services.
By adding all these expenses, you’ll have your cost of investment.
Net Return on Investment
Once you understand what you’ll spend on the contact center migration, consider the benefits you’ll gain. You can break these down into five key categories:
Add the dollar value of each benefit to get your net ROI. Now use the following calculation to determine the ROI of your contact center migration.
Net ROI/Cost of investment = ROI (%)
Gain Greater Insights with the Genesys Migration Planning Kit
Learn more about the value of migrating from a legacy contact center with the Genesys migration planning kit. It’s an important first step in understanding your journey so you can plan and execute a successful customer experience transformation.
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