Callahan Clients, please log in for direct access to:
Learn What You're Missing
Upgrade Your Subscription
Thank you for your interest in reading the fantastic content we have on CreditUnions.com! However, the page you are trying to access is for subscribers-only. To learn more, select an option below.
All users must now log in to read, research, browse, and have fun on CreditUnions.com. Yes, we still offer freebies. And, yes, it’s worth the extra effort.
Print or PDF this article today because you won't have access to it later. Or, click here to learn how to get 24/7 access.
By APPRO Systems, Inc.
Now more than ever, businesses are managed “by the numbers.” This is a consequence of both improved management information systems, which make closer monitoring and measurement of business processes possible, and the pressures of a difficult and competitive market environment, which make quantitative-based management processes a necessity. The management mantra “what you don’t measure, you don’t control” has never been more applicable.
Attracting and retaining members through better member service has received increased attention as credit unions increasingly have to compete with larger financial institutions. As a result, the fiscal importance of the member service call center is rising for many credit unions. Achieving the level of member loyalty they need is directly dependent on implementing the right metrics for, and management of, the call center/member service operation.
Most member service centers already possess, in some form, systems capable of providing real-time monitoring. The problem lies with WHAT is being monitored. The parameters currently monitored in most call centers offer no real value in determining how satisfied members are with their experience, or the value of member service operations.
The Automatic Call Distributor (ACD) or other solution at the heart of most modern contact centers is very reliable for providing statistics and reports on parameters such as how many calls per hour are answered, how long it takes for a call to be answered (Average Speed of Answer, or ASA), and how many calls have been abandoned (abandoned call rate). These measurements adequately describe the performance of contact center operations. However, they are largely irrelevant when it comes to evaluating the business value of the contact center, its contribution to the credit union and the service a member experiences. What does ASA mean to a manager trying to determine the contribution of the call center to business operations, or the satisfaction of a member when they contact the credit union? Unfortunately, it doesn’t tell them a thing. Following is a list of questions, member service center managers are beginning to ask to determine which metrics should exist. Unfortunately many of these metrics are nearly impossible to monitor using the existing reporting systems in most credit union call centers. They include:
It is precisely here where the search for “new” contact center metrics begins. Given the importance of member service operations to the future growth of most credit unions, defining the parameters that will help measure the real business “value” of both the member service center as a whole, and the individual agents working in it, becomes absolutely essential. Likewise, it is important to define the proper metrics that will aid credit unions in determining the “value” members present to the credit union and how that may be taken into consideration when they initiate contact.
To learn more about call center metrics, and what you can learn from call center data, register for a free online seminar, “New Age Metrics for the Contact Center.” Register online at www.apropos.com.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at firstname.lastname@example.org or 1-800-446-7453.
May 23, 2005
7/26/2012 04:10 PM
Interesting and true. Though We need To maintain the ACD and AHT(Average handle time) and ASA For Effeciency with handling large volume of calls and Effective Agent productivity. The "Value" as stated is a seperate Parameter. Some Measure it by CSAT(Customer Satisfaction Survey). There is a need to Revolutionalise the Effective and "valuable" Means of measuring and rating the Contact Center
7/26/2012 04:09 PM
Good read. Gave me some ideas. - Jef Pablo
Submit your email address to receive daily industry updates and web-only features.
P: (800) 446-7453 | F: (800) 878-4712
1001 Connecticut Ave. NW Suite 1001
Washington, DC 20036