Top 3 Terms You Need to Know to Influence Your CFO
23 / Oct / 2013
By Josie Foster
Just the other day my son came to me with a proposal. He is anxious to buy a new pair of Nike cleats and as a mom of four I am hesitant to spend the money. I sent him away with a mission. I asked him to figure out a few things before I could commit to spending the money for his shoes. His jobs were; to figure out how the purchase of the shoes would help him, if the purchase of the shoes was worth the cost, and how overall the purchase would affect our family.
Convincing your company’s CFO to spend money on a product you truly believe in is much the same. Just saying that you want to purchase something is not enough. You need to be aware of key terms and sound logic that resonate well with your CFO. In the call center world terms like agent attrition, training costs, agent productivity, and Net Promoter Score are all terms that motivate a CFO and help make the case for investing in new call center workforce management software that will help reduce costs and make the job of a CFO much easier.
Here are some of the key terms to convince your CFO why you need Work Force Management Software:
A reduction in agent attrition and training costs:
High attrition rates is a call floor killer! If you really want to get your CFO’s attention, tell him how workforce management software can drop attrition rates. Focus Services is a customer of ClearView and since they began using the ClearView Performance Management Tool, agents are achieving better numbers as well as finding more enjoyment in the workplace. In the three months after the implementation of ClearView, the average attrition rate dropped by 7%; which lowers the cost of the average new training class by 35%. Focus is now able to put this saved money back into incentive programs and other employee opportunities, which will lead to even lower attrition rates
An increase in agent productivity including a drop in AHT:
We all know that Average Handle Time is a huge deal! It is an indicator of productivity, which means more revenue and less waste, buzz words CFO’s love to hear! The detail that ClearView allowed Focus to see at the agent level influenced positive changes in KPI’s. Chief among them was the dramatic improvement in AHT, which improved floor-wide by 9% in the first month. Over the first six months with ClearView, the average AHT dropped by 42%, averaging out to a 7% improvement per month. To go along with the decrease in AHT, overall sales numbers rose by 8% during the same six month period.
An increase in Net Promoter Score:
A great key term to use when convincing your CFO how much you need a workforce management software solution, is NPS or Net Promoter Score. This term measures that overall satisfaction of your clients and how loyal they are. Increasing this score means it is likely you will keep you current customer base and it is likely that future customers will stick with you. Those are all things CFO’s love to hear. Focus Services floors have seen positive improvements to NPS all across the board. Since implementing ClearView, Focus Services main call floor the NPS score has improved by 17.3%. Other Focus floors have improved NPS scores by as much as +58% since the implementation of ClearView.
Numbers don’t lie, and these numbers are the proof that a CFO would need to make the decision to invest in software that would decrease overall cost and increase the flow of income. Much like my son wanting a new pair of cleats, using the right terms and keywords positively influence those who make the decisions to believe in your proposal.
ClearView’s Workforce Management software has a proven history in the reduction of agent attrition and training costs as well as in increase in agent productivity (including a drop in AHT) and an increase in Net Promoter scores. ClearView™ offers an array of Call Center Performance Management solutions designed from the ground up to meet the exclusive needs of front line sales and service actions. By delivering real-time, personalized performance data to every employee on the floor while automating critical managerial activities, ClearView increases accountability and creates a culture of continuous development enhancements essential to reaching business goals.