Independent study evaluates the financial
impact of deploying LiveVox’s Blended Omnichannel and purpose-built
CRM together for improved agent and customer experience
LiveVox Holdings, Inc. (“LiveVox” or the “Company”), a leading
cloud-based provider of customer service and digital engagement
tools, has released the results of a commissioned Total Economic
Impact™ (TEI) study conducted by Forrester Consulting on behalf of
LiveVox. The study examines the potential return on investment
(ROI) enterprises may realize by deploying LiveVox’s Blended
Omnichannel and purpose-built customer relationship management
(CRM). Guest speakers, Forrester’s Art Schoeller and Nick Ferrif,
will present key findings from the study on August 11th during a
LiveVox webinar.
To better understand the benefits, costs, and risks associated
with an investment in LiveVox’s Blended Omnichannel and CRM,
Forrester used first-party research and analysis on the Company’s
solutions and conducted independent customer interviews. For the
purposes of the study, Forrester aggregated the experiences of the
interviewed customers and combined the results into a single
composite organization.
Prior to using LiveVox’s platform, the customers interviewed
used different vendors across various communication channels. As
such, they had no tailored, unified desktop for agents and they
lacked automation capabilities for capturing or deflecting inbound
calls. Moreover, prior attempts to resolve these issues yielded
limited success, leaving agents with siloed data stacks and causing
friction with customers during calls or other interactions. These
limitations led to an increasing number of missed inbound calls, an
inability to track customers across channels, low deliverability,
and poor customer and agent experiences. After the investment in
LiveVox, interviewed customers were able to take advantage of an
integrated communications stack while reducing compliance risk and
improving KPIs.
“The results from Forrester’s TEI study are further validation
that our approach to cloud-based customer service and digital
engagement solutions are solving critical challenges for our
customers,” said LiveVox CEO Louis Summe. “The contact center
software market is at an inflection point as some are estimating
the market to grow to as large as $83 billion around 2030. Our
capabilities, including an increased focus on automation and
AI-assisted tools, will allow our customers to thrive by helping
them innovate quickly to best meet the needs of their
customers.”
Key findings from the study include:
- A three-year 229% ROI and payback in less than 6 months
- Inbound contact savings from call deflection to self-service
capabilities and reduced average handle time (AHT) totaled $3.8
million
- Outbound contact savings through self-service deflection and
reduced AHT totaled $2.9 million
- By switching to LiveVox and replacing legacy CRM solutions and
eliminating associated support costs, customers saved $1.5
million
- LiveVox enables organizations to improve their email and call
deliverability rates, resulting in increased penetration, allowing
organizations to improve their operating income by up to 3% or $1.3
million
- Improved agent capacity planning enabled by LiveVox saves
customers $1.2 million
- Cost reductions from contact center technology
managementtotaled $1.1 million
- Supervisor efficiency gains represent $705,000 in savings
LiveVox’s customers in the study have seen significant increases
in efficiency and revenues after unifying their operations with the
Company’s Blended Omnichannel and purpose-built CRM:
“LiveVox is an omnichannel solution that gives us a full view of
each customer’s journey. We can now be efficient and nimble while
empowering agents with the tools and data they need to be
successful.” — COO, financial services
“I can tell you without a doubt that our contact rates have
improved, our sales rates have improved, and we probably wouldn’t
have survived 2020 without LiveVox.” — Senior director of
operations, consumer finance
“Our customer services team is only using inbound, and the
platform is so simple for them to use it’s almost self-sufficient.
It’s almost on autopilot.” —Director of credit business systems,
retail
“We’ve had a huge jump in efficiency because of our self-service
options that LiveVox has made available to us.” — COO, financial
services
To download the full study, click here.
About LiveVox LiveVox (Nasdaq: LVOX) is a next-generation
contact center platform that powers more than 14 billion
interactions a year. By seamlessly integrating omnichannel
communications, CRM, AI, and WFO capabilities, the Company’s
technology delivers an exceptional agent and customer experience
while reducing compliance risk. With 20 years of cloud experience
and expertise, LiveVox’s CCaaS 2.0 platform is at the forefront of
cloud contact center innovation. The Company has more than 500
global employees and is headquartered in San Francisco, with
offices in Atlanta; Columbus; Denver; New York City; St. Louis;
Medellin, Colombia; and Bangalore, India. To stay up to date with
everything LiveVox, follow us at @LiveVox or visit livevox.com.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may be made directly in this press
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by the use of forward-looking words. Statements that are not
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“projects,” “should,” “could,” “would,” “may,” “will,” “forecast”
and other similar expressions are intended to identify
forward-looking statements. All forward-looking statements are
based upon management estimates and forecasts and reflect the
views, assumptions, expectations, and opinions of the Company as of
the date of this press release, and may include, without
limitation, changes in general economic conditions, including as a
result of COVID-19, all of which are accordingly subject to change.
Any such estimates, assumptions, expectations, forecasts, views or
opinions set forth in this press release constitute the Company’s
judgments and should be regarded as indicative, preliminary and for
illustrative purposes only. The forward-looking statements
contained in this press release are subject to a number of factors,
risks and uncertainties, some of which are not currently known to
the Company, which may cause the Company’s actual results,
performance or financial condition to be materially different from
the expectations of future results, performance of financial
condition. Although such forward-looking statements have been made
in good faith and are based on assumptions that the Company
believes to be reasonable, there is no assurance that the expected
results will be achieved. The Company’s actual results may differ
materially from the results discussed in forward-looking
statements. Readers are cautioned not to place undue reliance upon
any forward-looking statements, which speak only as of the date
made. These forward-looking statements are made only as of the date
hereof, and the Company does not undertake any obligations to
update or revise the forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210805005295/en/
Investor Contacts: Alexis Waadt awaadt@livevox.com
Ryan Gardella livevoxIR@icrinc.com
Press contacts: Nick Bandy nbandy@livevox.com
Katie Creaser livevoxPR@icrinc.com
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