Firstsource

Solution Requirement

The answers to a lot of customer queries lay buried in the mounds of customer interaction data. But ferreting out customer information from the unfathomable sea of data was like trying to get a pearl out of lock jawed oyster.

Firstsource needed more than information. It needed actionable intelligence.

That’s when Aparajita Gupta, SVP- Digital Support and Analytics at Firstsource decided that analytics was just the ticket for extracting customer knowledge.

Solution Deployment

To decode the complexities of multiple channels of customer engagement, Firstsource implemented a speech and text analytics platform from Verint. It enables the BPO firm to analyze huge volumes of data across all digital interaction channels. The analytics solution extracts actionable business intelligence from the unstructured information contained within multi channel text-based documents and interactions like Web chat, Email, social media outlets, including Facebook and Twitter, call center notes and survey comments

The analytics solution provides a holistic multi channel view across digital engagement channels.

The text and speech analytics solution is integrated with Firstsource CRM and works across different analytics disciplines including descriptive, predictive and prescriptive analytics. All this high- touch customer activity paid off in customer loyalty and improved revenue.

Converting unstructured customer interactions into actionable insights has delivered improved customer experience and increased revenues for Firstsources’ customers. Firstsource unleashed analytics for a UK based telecom client to help them realize significant cost savings. An analysis of the chat and email interactions for a telecom client revealed that 2% of contacts logged the lowest sentiment scores which were related to refunds and credits. However, a review to determine the root cause was infeasible due to high interaction volume.

Solution Benefits

The integrated solution helped Firstsource uncover root causes ranging from too many website contact numbers to a non-intuitive IVR, to a flawed call-back process. Armed with the actionable intelligence, the retail bank modified technologies, processes and associate training which resulted in 18 % reduction in cost-to-serve, $400,000 reduction in callbacks, $300,000 saved on website service, $,400,000 saved in IVR processing, 3 % increase in sales through phone, IVR, and web channels.

“Unstructured data accounts for almost 80% of the information available with an organization. It contains a lot of valuable and business-relevant information which otherwise is not analyzed. We wanted to help our customers solve these problems using analytics solutions to unleash actionable insights.” APARAJITA GUPTA, Senior VP - Digital Support & Analytics, Firstsource