Calculating Return-on-Investment (ROI) for Knowledge Base Software & Self-help Tools
Increased First Call Resolution Rate Lowers Costs
Knowledge Management is the ongoing process of capturing, optimizing, and delivering information. It is not a one-time purchase of a new support center tool. Therefore to calculate the Return On Investment (ROI), you need to evaluate the cost of implementation and the cost of management. Quantifying the financial savings benefits of a knowledge base can be difficult.
Most managers are able to forecast the costs, but struggle to forecast the savings. Companies struggle to put a value on customer satisfaction, job satisfaction, quality service, and the intellectual capital that is captured in the knowledge base. Before you can forecast an improvement using a knowledge base, you have to establish a baseline from which to measure.
This knowledge base white paper demonstrates how to calculate and quantify savings from:
- Reducing the average call time in your call center
- Increasing the first call resolution rate
- Reducing the escalation rate
- Reducing the training time of a new support person
Customer Service Whitepapers
- Customer Service Best Practices - What Features and Functions You Should Look For in Customer Service Software