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CASE STUDY

How We Decreased Transfer Rates by 50 Percent

The Ask

The client approached us with a significant challenge tied to high transfer rates among the Customer Finance Representatives. The client's commitment to One Call Resolution was being hindered by excessive transfers, impacting customer satisfaction and operational efficiency.

The Solution

In response to the client's emphasis on One Call Resolution and their concern over high transfer rates, we executed a targeted solution that delved deep into the root causes of the issue. Our solution strategy encompassed:

  • Root Cause Analysis: We conducted a comprehensive analysis of call data, agent interactions, and transfer patterns. This data-driven approach enabled us to identify the underlying reasons for the high transfer rates, which ranged from knowledge gaps to inadequate process understanding.
  • Customized Up-Training Modules: Based on the root cause analysis, we designed customized up-training modules for Finance Representatives. These modules addressed knowledge gaps, enhanced process comprehension, and equipped agents to address a wider range of customer inquiries without resorting to transfers.
  • Agent Empowerment: We focused on empowering agents by instilling problem-solving skills and boosting their confidence in handling complex customer concerns. This involved scenarios and role-play exercises to simulate real-time customer interactions.
  • Quality Monitoring and Feedback Loop: We established a robust quality monitoring system to track call interactions and transfers. Constructive feedback was provided to agents, allowing them to continually improve and reduce the need for transfers.

The Results

The implementation of our strategic solution brought forth tangible improvements in One Call Resolution, Operations Efficiency, and Transfer Rates:

  • Reduced Transfer Rate: The transfer rate among Finance Representatives dropped by 50%, indicating a substantial decrease in the need to escalate or transfer calls to other departments.
  • Enhanced One Call Resolution: The client experienced a 30% increase in One Call Resolution instances, indicating that agents were better equipped to address customer concerns within a single interaction.
  • Operational Efficiency: With fewer transfers, agents were able to handle a higher volume of calls efficiently, optimizing our resource allocation.

Valor Global’s strategic approach to revenue collection has resulted in them leading the enterprise stack ranking. Their data-driven strategies, creative training and coaching models, and skilled finance representatives have played a pivotal role in driving our revenue recovery.

Wireless Telecommunications Client

Through our approach, we not only tackled the client's challenge of high transfer rates, but also aligned their operations with the goal of One Call Resolution. Our solution improved customer satisfaction and positively impacted the agent experience by enhancing their skill set and problem-solving capabilities.

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Email:

blkrinhop@valorglobal.com