Call center metrics are significant when it comes to evaluating call centers efficiency. Call center metrics are driven by several factors compared to set benchmarks and standards to check if the contact center can meet customer expectations. Although the implementation of Knowledge Management at call centers has been around for a while, the research and innovations in the field of Artificial Intelligence (AI) comprising of Machine Learning, Deep Learning, and Natural Language Processing (NLP) have enabled call centers to improve their metrics significantly.
A Knowledge Management system powered with AI offers unique benefits and creates a user-friendly approach, and simplifies the operational tasks of businesses both internally and externally. Knowledge Management system enables seamless collaboration and communication between internal teams. It is also capable of handling and distributing bulky information over different channels.
According to a study by McKinsey, companies focused on providing a superior experience to the customer realized a 10-15% increase in revenue and a 20% increase in customer satisfaction.
Features of a Knowledge Management system
Authority Access: KM systems have authorization control that enables the management and admins to assign tasks, execute and create content, assign roles, and support agents.
Feedback Analytics: Feedback analytics allows improving the content provided to the consumers. Feedback could be essential in identifying what’s working with the customers and what’s not.
Multimedia & Text Editing: They offer a one-stop solution for text and media editing with easy distribution to different teams.
Omnichannel compatibility: An omnichannel experience is a modern-day standard when it comes to providing customer service. A Knowledge Management system ensures a smooth omnichannel experience by providing relevant content across different mediums.
Benefits of Knowledge Management system
Knowledge Management system strives for making the customer service experience as convenient as possible. Knowledge Management impacts a number of call center metrics:
First Contact Resolution (FCR): FCR is a driving metric for contact centers. First contact resolution can significantly reduce consumer effort. Knowledge Management with the power of AI can exponentially increase the resolution of medium to high complexity at first contact. Decision trees software for call centers also furnish the desired information instantly, encouraging agents to deliver frequent first contact resolutions.
Average Handling Time: When information is easily accessible, the time required to deal with each customer reduces, enabling agents to deal with more consumers in a short period. Average Handling Time is mainly used for internal assessment by contact centers.
Average Speed to Answer: Knowledge Management systems curate content in a unified space, making it easier for support agents to handle customer queries. A centralized omnichannel knowledge management system provides swift, consistent, and fast answers.
Annual Training Hours: Contact centers have to spend significant amounts on upskilling and training agents. Knowledge Management systems help create a single unified repository for onboarding, training, and upskilling agents. A Knowledge Management system could reduce the Average Training Hours by as much as 50% if implemented right.
Detailed Assistance for Agents: Knowledge Management systems share information in an easy-to-understand format. They also give multiple approaches to a complex issue or complaint. This adds to increasing customer satisfaction and overall customer experience.
Knowledge Management system help in the preparation of the knowledge base, which acts as a single source of all company-related information. KM systems also ensure the safety of the information with access to stakeholders, with set permissions. They facilitate informed decision-making capabilities in organizations while optimizing the user experience. They significantly help in improving an organization’s operational and business process efficiency. They can also maintain and enhance customer experience by enabling customer agents to deliver optimum support to callers/enquirers. KM systems also play a huge role in training and retrieving knowledge for chatbots, using Natural Language Processing and Machine Learning.
We have seen how KM systems can provide holistic growth to call center metrics on multiple fronts. A Knowledge Management system could help in reducing the FCR by as much as 20-80%. These improvements in call center metrics ultimately lead to one goal: better Customer Experience. At the same time, these metrics do not convey the whole picture of how a Knowledge Management system could transform customer service.
KM systems can supercharge your customer service with multiple solution approaches like Decision Trees, How-To-Guides, Knowledge Bases, Self-service Modules & Visual Assistance..