IVR Optimization (IVRO) Savings Calculator
Calculate the Benefits of Improving IVR Self-Service
Optimizing your IVR can help to enhance customer experience significantly. When your customers successfully self-serve in the IVR without having to talk to a live agent, the result is reduced operating costs, decreased call volumes and improved customer satisfaction.
This calculator will help you estimate the operational efficiencies you can drive for your organization using NICE Nexidia's IVRO.
INSTRUCTIONS
What is your industry?
- Click the dropdown arrow below to choose an industry.
- Click the orange Enter button when done.
“We definitely got a positive
return from the NICE platform. I think we certainly
look at a single-digit percent
increase in call containment —
and that alone is worth tens of
millions of dollars to us.”
- Strategic Consultant, large insurance company
What is the total number of calls handled by your IVR system annually (in millions)?
- Type your answer in the white input box.
- Click the orange Enter button when done.
INSTRUCTIONS
Note: Input of "1" is equivalent to 1 million calls; "25" is equivalent to 25 million calls.
Customers want the option to handle routine matters themselves. Self-service use almost doubled from 17% in 2017 to 31% overall in 2018 with significant increases in visiting a company's website, use of IVRs and use of a company's mobile app. (NICE inContact, 2018)
Did You Know?
What percentage of your calls are contained (started and completed) in the IVR without being transferred to a live customer service agent?
- Type your answer in the white input box.
- Click the orange Enter button when done.
INSTRUCTIONS
Note: Please input a % between 0 to 100.
IVRs handle approximately 55% to 95% of the calls into the call center, depending on the vertical and the effectiveness of the system.
(DMG Consulting, 2017)
Did You Know?
What is your average cost per call for interactions with live customer service agents?
INSTRUCTIONS
- Type your answer in the white input box.
- Click the orange Enter button when done.
Note: Studies show that the typical Cost Per Call (CPC) is $5.00.
A typical customer service call handled by
a live agent costs $3.00 to $6.50, while an IVR transaction costs $0.03 to $0.25 per minute.
(DMG Consulting, 2017)
Did You Know?
Using IVR Optimization (IVRO) to deliver effortless self-service,
You could be saving...
per year, with an improvement of 3% - 10% in your IVR containment rate.
to
FINANCIAL SERVICES (FS) - IVR INDUSTRY RESEARCH
TELECOM - IVR INDUSTRY RESEARCH
IVR CONTAINMENT RESEARCH
HEALTHCARE - IVR INDUSTRY RESEARCH
Recent research from NICE Nexidia revealed that authentication rates heavily influence IVR containment, a key metric to optimize in an IVRO program.
IVRO can also drive improvement in customer experience, for example, reducing repeat calls, and optimizing Average Time Spent and Number of Steps in the IVR.
Recent research from NICE Nexidia revealed that on average:
- FS organizations have an authentication success rate of 68%.
- FS customers make 2.5 calls to resolve an issue in the IVR.
Recent research from NICE Nexidia revealed that on average:
- Telecom organizations have an authentication success rate of 69%.
- Telecom customers make 3 calls to resolve an issue in the IVR.
Recent research from NICE Nexidia reveals that on average:
- Healthcare organizations have an authentication success rate of 61%.
- Healthcare customers take 2.5 minutes to resolve an issue in the IVR.
Don't take our word for it! Click below to Take the IVRO Challenge and
unlock the potential in your IVR.