Industrial Asset Auctioneer Unlocks $1.2M in Annualized Cost Savings from Call Center Optimization

An industry leader in industrial asset disposition & management, this former client provides auctioning services to clients across North America.

$1.2M

recurring annualized cost savings identified

88%

reduction in average call wait times (9 mins to <1 mins)

Challenge

After an acquisition, demand for customer service increased through a surge in call volume, further inhibiting their call center operations experiencing high wait times, call durations, and call volumes. Additionally, the impact of COVID-19 forced customers to connect virtually, leading to a ‘new normal’ level of call volume and challenges with connection on the team.

Discovery

Through an extensive 8-week initiation study, TPG was able to narrow our focus on three areas:

Aligning our customer care team to feel empowered to support customers
Creating effortless support experiences where customers can self-serve, and
Building company-wide solutions and internal processes

We built a roadmap of 25 initiatives across 9 workstreams to be executed over an 11-month period, which tackled 77% of the pain points uncovered through our initiation study. Four key workstreams implemented are outlined as follows:

Organizational Design – Aligning and defining roles & responsibilities to handle calls by dedicated agent groups to promote accountability
Technology Improvements – Integration of tech improvements to call center functions such as virtual queueing, approval workflows, and screen-pop ups with accompanying change management efforts
Support Intake & Optimization – Introduction of new avenues for customers to self-serve or better get in touch, ex: Online Chat, Chatbot, upload features
Agent Empowerment – through providing learning tools, system enhancements, and dedicated support, this organization now champions customer service by including it as one of the 5 pillars of their culture

Value Created

As result of this engagement, this client enjoyed both immediate and long-term financial and strategic benefits:

Identified over $1.2M in recurring cost savings
Reduced call wait time by 88% (from 9 minutes to less than 1 minute)
- Stabilized peak times during quarter-end run and year-end
- Enhanced customer experience by implementing the Call Back Feature (Virtual Queue) which allows customers the option not to wait on the line, and an available agent will call back
Reduced Average Handled Time (AHT) by 28%by empowering agents with tools and resources to conduct calls quicker, implementing a learning portal, and automating tasks to perform during the call to allow agents to focus on customer inquiries
Reduced case volume by 32% despite increased sales
- Implemented self-serve options for the customer, such as Online Chat, so that they didn’t need to call to speak to an agent
- Integrated Voice Recognition capabilities into the IVR, allowing the bot to respond to questions before transferring to a live agent

Call wait times before and during the project horizon. The orange line includes call back option wait times after integration.

Industrial Asset Auctioneer Unlocks $1.2M in Annualized Cost Savings from Call Center Optimization

Challenge

Discovery

Value Created

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