2020 Talkdesk Contact Center KPI Benchmarking Report
TALKDESK REPORT2020 TalkdeskContact CenterKPI BenchmarkingReport
Table of ContentsIntroduction03I.The Role and Value of Key Performance Indicators04II.10 Steps to Define Your Contact Center KPIs06III.Preparing Your Contact Center for Times of Uncertainty08IV . Key Findings and Metrics12Conclusion21
IntroductionIn the 2019 Talkdesk Contact Center KPIand Benchmarking report, we startedby stating that the contact center spacehad never been so exciting and yet socomplicated. Then 2020 came and withit a set of unprecedented challenges.The first half of the year brought thecoronavirus (COVID-19) outbreakand a major transformation in theway companies do businesses.Government-imposed confinementmeasures to contain the spread ofthe virus forced companies to moveoperations to a work-from-home (WFH)reality overnight and to adapt newmethodologies, tools and collaborationhabits.Contact centers were no exception.Many customer-oriented companiesexperiencing intense contact peaks andcall volume volatility scrambled to keepcommunication channels open.Having the right KPIs and objectives inplace, as well as the tools to track andtake immediate action, is paramount forcontact centers to guarantee customerexperience (CX) excellence andoperational efficiency.The 2020 Talkdesk Contact Center KPIBenchmarking Report examines theimportance of setting and measuringkey performance indicators and allowsyou to learn how your industry andcompany are performing. Read more todiscover the prescriptive measures thatcan make your contact center ready forthe challenges that lie ahead.3
I. The Role andValue of KeyPerformanceIndicatorsKPI is aMeasurable value thatshows progress towardsachieving key businessobjectives.4
More than metrics, KPIs are a fundamental partof strategy and its implementation. For CX leaders,successfully setting KPIs creates the foundationfor a results-driven contact center that steers teamsand individuals in the right direction.to use a given invoice system are having higher holdtime, the system may be too slow, too complex oragents may not have the necessary training to use itefficiently. These are the types of insights that can resultfrom closely monitoring hold time and help managersimprove results.iduring that period of the year. With contracts expiring,it’s only natural that customers search the market foralternatives. Prepare for contract expiration season withthe best renewal offers. This way, you can buffer or eveneliminate spikes in customer churn.Here are four reasons why KPIs matter:1. Keep a bird’s-eye view of the contactcenter operationKPIs help measure the vital signs of your contact center.As a CX leader, focus on the top objectives to havea clear understanding of where you stand and howto strategize to achieve long-term goals.2. Continuously measure progressand make adjustments to stay on trackConstantly tracking KPIs will help timely detectionof improvement opportunities and data-drivendecisions. For example, if calls that require agents3. Nurture a results-driven cultureof learningKPIEncouraging accountability and positive feedbackis crucial. Ensure agents, supervisors and otherstakeholders are in sync with the company, departmentand individual goals, know how to achieve them andmeasure success.4. Discover trendsA deeper dive into KPIs and how they behave overtime can identify patterns and forecast future events.An increase in the number of clients that call to cancela service can be related to more contracts expiring5
II. 10 Stepsto Define YourContact CenterKPIsDefining KPIs is a laborious and ongoingprocess, requiring a comprehensiveknowledge of the contact center andits role in the organization. Followinga methodic and prescriptive approachwill ease the task and determine whatis suitable at each point in time.Here are 10 steps to get ahead inidentifying, defining and adjustingcontact center KPIs.1. Align KPIs with theorganization’s objectivesChoose everyday metrics and objectivesto reflect the organization’s vision,mission, values and goals. KPIs shouldhelp each department and teammove towards the overall goals of thecompany.2. Define measurable metricsKPIs need to be qualitatively orquantitatively measurable. If they arenot providing a clear picture of howstakeholders are performing, then theybecome irrelevant and even a source ofdistraction.3. Specify how each KPIis calculatedIt is common to find differentdefinitions of the same KPI in differentorganizations as each business conductsoperations with its own customers andgoals in mind. The rule of thumb is touse the same formula in a transparentand consistent manner within eachorganization. When benchmarking, it iscrucial to confirm if metrics are beingcalculated the same way before jumpingto conclusions.6
4. Describe the purposefor each KPIEvery KPI should have a clear purpose.They can be used to trigger supervisorinterventions, guide workforcemanagement (WFM) decisions orengage agents to become more effectivewhen answering calls. Make sure thatKPIs are serving a purpose that isaligned with company goals.5. Categorize KPIsIn customer service, grouping KPIsinto different categories providesa comprehensive understanding ofcontact center performance and aclearer vision of which strategies toimplement. Viewing KPIs divided intooperations, income, cost and servicequality related indicators is essentialto ensure that contact center effortsare aligned with organizational goals.6. Set attainable goalsAvoid the pitfall of defining goals thatare too ambitious. If they are ultimatelyunachievable, stakeholders will becomedisengaged and every related KPIscan become innocuous andcounterproductive.leaders must implement the rightanalytics and contact center toolsto support their strategy.8. Build a strategy to reachthe KPISet well-defined implementation stepsto achieve each target and guaranteeagents, supervisors and managers areaware and embrace the strategy.7. Ensure the right toolsto measure KPIs9. Create a contingency planfor each KPIA common mistake when selectingKPIs is to create quantifiable measureswithout the right tools in place to trackthem. Nonetheless, this should notinfluence the KPIs to measure. Instead,after defining KPIs, contact centerIf a KPI falls off-target, correctivemeasures should be applied. Preparinga contingency plan will allow for quickand consistent actions.10. Ensure agility to redefineKPIs when neededMany factors might affect companyplans. It can be an external factor,such as the coronavirus outbreak,or an internal factor, like a productmalfunction. Be prepared to steer theship in the right direction, even if thereis a sudden shift in goals, strategiesand KPIs.7
III. PreparingYour ContactCenter for Timesof UncertaintyDefining the right objectives andKPIs and aligning them with theorganization’s goals is very important,but it is just a first step. Contact centersneed to ensure that the right toolsand systems are in place to track KPIs,prepare for the long-term and takeaction when necessary. In today’scustomer service space, whether itis a fully-remote or hybrid workforcesetup, contact center solutions mustallow work from everywhere whileguaranteeing security standards,easy-to-adopt software and costefficiency.Here are some tools that allow contactcenters to track, prepare for the futureand act to improve KPIs and achievebusiness goals.8
Tools to trackA comprehensive analytics suite is essential to maintainyour customer experience KPIs on track. Making theright decision at the right time depends on it. As contactcenter goals and strategies differ, it is essential thatanalytics tools enable deep customization so eachorganization can define and measure the KPIs thatmatter most.Real-timeanalyticsCreated to enable on-the-fly decisions. This visualizationof contact center performance is crucial, especiallywhen managing a remote workforce. With real-timeanalytics, supervisors monitor calls, are alerted whenissues occur and can coach agents during calls or evenreallocate resources, if needed.Businessintelligence (BI)These analytics tools allow contact centers tocrunch the huge amount of data that customerinteractions generate and produce powerful insightsto support data-driven decisions. With BI tools, datacan be analyzed in seconds and surfaced in sharable,customizable reports and dashboards for managersto disseminate across stakeholders. A complete viewof how the contact center is performing, and the abilityto share that information, enables you to forecast andrespond to trends, eliminate inefficiencies and drivepositive change through the entire organization.9
Tools to preparefor the futureThe coronavirus outbreak has unveiled a future full ofuncertainty, but that doesn’t mean there aren’t waysto be prepared for it. For contact centers, preparationmeans ensuring a flexible infrastructure that allowsscalability, guarantees call quality and security, enablessupervisors, agents and other customer serviceprofessionals to work from home without restrictions,and secures a cost-effective operation.Self-servicetoolsApplications such as knowledge bases and virtualagents can be beneficial solutions. With morecustomers favoring tools that help them solvetheir issues, companies that implement self-serviceoptions to help customers help themselves areboosting customer KPIs such as customer satisfaction(CSAT) and Net Promoter Score (NPS). Self-serviceoptions improve contact center efficiency metricsby decreasing the number of interactions that wouldotherwise be answered by live agents. Moreover,self-service tools are easily extendable, equippingcontact centers with the scalability they need in timesof contact volatility.Agent assistancetechnologyThis empowers agents with artificial intelligence(AI)-powered guidance to perform faster and better.Delivering recommendations in every interaction,this technology helps agents get the information theyneed faster — even if this information is scatteredthroughout different systems, such as knowledgebases and CRM systems, resulting in improvedFirst Time Resolution (FTR), CSAT and NPS as wellas in reduced Hold Time, Talk Time and, ultimately,Average Handle Time (AHT). Additionally, agentassistive technology is a powerful ally to onboardagents faster, reduce ramp-up time and guaranteeeven junior agents are correctly answering customerquestions. This is a particularly interesting benefitwhen it comes to remote operations, where onboardingcan be slower and more complex.10
Tools to actOutbounddialersDialers are usually associated with sales, telemarketingand other outbound-specific businesses. Yet, theyalso provide inbound contact centers the opportunityto proactively contact customers, anticipating theirneeds and promoting customer loyalty. Proactivecustomer engagement can reduce the numberof times customers contact you during peak periods.By proactively contacting customers during lowvolume contact periods, the contact center is activelycontrolling customer demand over time.Customer journeydesign toolsVisual flow designers are essential to create frictionlessexperiences. These tools allow contact centeradministrators to easily adapt IVR touch points,end-to-end call flows and fully customize interactionsto minimize customer effort, improve CSAT and boostfirst contact resolution (FCR).When looking for such a tool, it is important to favorsolutions with a strong visual approach and a clicks-notcode logic — that can easily be used by non-technicalstaff — to allow fast customer journey optimization.When paired with a robust integration suite, thesesolutions can leverage automation for improved routingdecisions.11
ivIV. Key Findingsand MetricsThe contact center is a place driven by the quest forefficiency and effectiveness. Consequently, data is king.With a wide spectrum of measurable KPIs at theirdisposal, contact center leaders must maintain focusand track metrics that contribute to achieving theirbusiness objectives.Talkdesk analyzed data from over 1800 customers tosurface five of the most relevant metrics to benchmarkperformance, efficiency and generate insights toachieve better results.12
iv1. Abandonment rateABANDONMENTRATE# ABANDONED CALLS TOTAL # INBOUND CALLSAbandonment rate is the percentage of calls terminatedbetween the IVR and the moment an agent answersthe call. Interactions where the customer’s needs areresolved in the IVR should not be considered.For instance, if a customer can determine the statusof an order or their account balance within the IVR,these interactions should be considered resolved notabandoned. Short abandoned calls, less than 8 secondsfor example, should also be excluded as they may skewthe abandonment rate.High abandonment rates could indicate that: Routing setup is incorrect or is driving up wait time Staffing is inadequate, causing callers to queue forunacceptable amounts of timeLow abandonment rates could indicate: Agents answer calls quickly Routing is optimized The team is properly staffed or even overstaffedIVRFor all Talkdesk customers in2019, the average abandonmentrate was 7.95%.13
iv2. Average speed of answer (ASA)AVERAGE SPEEDOF ANSWERTOTAL TIME SPENT RINGING TOTAL # CALLSAverage speed of answer is the average time agentstake to answer inbound calls. This includes time whilethe agent’s phone rings, but excludes the time thecaller spent in IVR or queueing.Average speed of answer provides call center managerswith visibility over whether agents have the necessarysetup and tools to reach the ideal performance levels.Having a low ASA means customers will take less timeto reach agents and therefore find a solution faster.This results in higher customer satisfaction (CSAT),cost savings and higher operational efficiency.High average speed of answer could indicate: Insufficient staff training Complex processes or excessive administrativetasksLow average speed of answer could indicate: Adequate staff training Adequate processes and administrative tasks Appropriate amount of after call work timeThe average speed of answerfor Talkdesk customers was 7seconds in 2019.14
iv3. Average hold timeAVERAGE HOLDTIMETOTAL TIME SPENT ON HOLD TOTAL # CALLSAverage hold time measures the time a customeris put on hold during a call with an agent. Leavingcustomers on hold for lengthy periods increases stress,hurts customer experience and can likely result in anabandoned call. Failing to solve customer issues canhave an impact on FCR if the customer calls back,or deeper impacts on CSAT, NPS and customer loyalty,if the customer chooses to never call back. A highaverage hold time also has a negative impact onaverage handle time and on overall contact centerefficiency.High average hold time could indicate: Unreliable and slow systems Scattered systems and information Undertrained agents Complex processesLow average hold time could indicate: Systems are fast and easy to use Systems provide agent with contextualizedassistance Well organized information Effective agent training and coaching Processes are simple and efficientThe average hold time forTalkdesk customers was16 seconds in 2019.15
iv4. Average talk timeAVERAGE TALKTIMETOTAL TALK TIME TOTAL NUMBER OF CALLS HANDLEDAverage talk time is the length of time that an agentspends talking to customers. Average talk time is oftenconfused with average handle time (AHT). Althoughboth metrics focus on the time an agent dedicatesto a given interaction, average talk time does notencompass the hold time and the time the agentspends on after-call work.High average talk time could indicate: Poor in-call problem definition Slow systems and in-call authentication processes Scattered information Inadequate agent training Complex processesLow average talk time could indicate: Adequa
disposal, contact center leaders must maintain focus and track metrics that contribute to achieving their business objectives. Talkdesk analyzed data from over 1800 customers to surface five of the most relevant metrics to benchmark performance, effi
based KPI’s Use KPI Library and trainusage Toensure involvement by easy access and direct feedback 2. You have an incompleteset of KPI’s Checkand develop missing KPI’s To ensure agood and useful dashboard 3. You have no good structure behind your KPI’s Set-up a KPI structure linked to corporate objectives To ensure reaching corporate .
everything you should know about each customer pops up in your computer screen, when they call. Talkdesk makes it easy for you to answer and to make calls, to edit customer information and to write notes about your calls. This manual will help get you acquainted with the Talkdesk integration, will provide more information about the functions
A graphical dashboard display with a visual representation of the KPI you are monitoring. KPI Table . Supporting data values that make up the graphical view in an easy to see tabular view. KPI Explanation . A description of the KPI and all the filters that are apart of it. KPI Controls : Actions you can take on your KPI (edit, send to control .
Delete a KPI Benchmarking Analysis Template. Procedure 1. Access the KPI Benchmarking Analysis template that you want to delete. 2. Select , and then select Delete Template. The template is deleted. Structure of the KPI Browser. The KPI BROWSER section contains a list of KPIs that have been deployed in the selected asset level and
Define the KPI template The template should include the purpose of the KPI, KPI unit, data collection method, KPI target, frequency of collection, metric tests, and reporting details. Centralise management It is important to agree on enterprise-wide data definitions and to manage KPIs within the template in a central repository. This will help when
Template number Name 0 Summary of KPIs 1 Assets for the calculation of GAR 2 GAR sector information 3 GAR KPI stock 4 GAR KPI flow 5 KPI off-balance sheet exposures 6 KPI on fees and commissions income from services other than lending and asset management 7 KPI Trading book portfolio Annex VI -
KPI Explanation A description of the KPI and all the filters that are apart of it. KPI Controls Actions you can take on your KPI (edit, send to control, and delete). 4.3.2 Builder 4.3.2.1 Builder Overview The builder is where you create KPIs that can be saved to your dashboard and shared with others. Building a KPI has three stages: 1. Defining .
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