Solvvy Report Shows How Chatbot Drove Self-service Success In Customer Support Function
Intelligent chatbot automation solution Solvvy announced findings from a commissioned Total Economic Impact analysis conducted by Forrester Consulting. The analysis calculated the return on investment (ROI) achieved by deploying Solvvy’s chatbot and automation platform solutions across clients. For example, for a large multinational B2C subscription e-commerce leader, the solution was able to deliver a total […]
Topics
Intelligent chatbot automation solution Solvvy announced findings from a commissioned Total Economic Impact analysis conducted by Forrester Consulting. The analysis calculated the return on investment (ROI) achieved by deploying Solvvy’s chatbot and automation platform solutions across clients. For example, for a large multinational B2C subscription e-commerce leader, the solution was able to deliver a total ROI of 554 per cent and $9.3M in cost savings over a three-year timeframe.
There are specific learnings for how companies can benefit from chatbot and automation in customer support fields.
By leveraging capabilities such as AI, natural language processing and understanding, machine learning, and automation to deliver self-service resolution to users efficiently, Solvvy allows organisations to cost-effectively scale their support operations while driving higher customer satisfaction.
The report claims to have achieved a reduction in overall incident handle times from deploying customer self-authentication workflows, valued at $2,942,506. The organisation is reducing the average incident handling time by 16 per cent for requests that still escalate to customer care. This calculation is based on a recent pilot project the director of customer care concluded in two of the organisation’s markets. In that project, the organisation implemented a Solvvy Workflow that required its customers to self-authenticate before they engage with a customer care agent. As a result of the new workflow and the seamless hand off of customer data captured in Solvvy to the agents, the average incident handling time for interactions in the test group was reduced by 100 seconds, or 16 per cent. To maximise the impact of the new workflow, the organisation is now implementing the capability in all of its global markets.
Also Read: Are You Deciphering Customer Sentiments?
Forrester’s research and analysis yielded the following impacts of adopting the chatbot’s solutions:
- Significant improvement in self-service resolution (SSR) rates. Rates more than doubled — from an average 21 per cent in previous years to 43 per cent globally — within weeks of rolling out the self-service automations. This resulted in cost savings of over $6.3M.
- High-quality customer support delivered, without the business needing to expand its customer care organisation. 10 to 15 per cent of additional hiring would have been required to handle the increased call volumes in the absence of the solution.
- Reduction in overall incident handle times from deploying customer self-authentication workflows, valued over $2.9M. The organisation Forrester worked with is reducing the average incident handling time by 16 per cent for requests that still escalate to customer care.
“We hear directly from our customers that Solvvy allows them to orchestrate highly personalised customer experiences via automation unlike any other platform. This leads to higher self-service rates, faster agent resolution times, and a better user experience,” said Mahesh Ram, CEO of Solvvy.
