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July 29, 2021

3-Year 229% ROI! Read Forrester’s Total Economic Impact Study of LiveVox

LiveVox commissioned Forrester Consulting to conduct a Total Economic Impact™ study in June 2021 to evaluate LiveVox’s cost of ownership and return on investment across a variety of different factors in the contact center. 

The study revealed numerous benefits for a composite organization based on interviewed customers. Their findings include benefits such as an overall reduction in operational spending, an uptick in manager and agent efficiency, and a streamlined technology stack that enabled smoother customer experiences. 

Access the study in full here, and read on for some key highlights.  

Dramatically increase ROI with a unified customer engagement platform 

The most striking benefit found by Forrester: the composite, or average, the customer saw a 229% ROI and payback in less than 6 months with LiveVox’s unified contact center platform.

Adaptability and flexibility are the core needs of today’s contact center operators, and the study identifies several key service requirements that LiveVox’s platform brings to customers. According to Forrester “LiveVox provides contact center agents with the tools they need to effectively perform their jobs and deliver smooth customer experiences. Reduced waiting, easier authentication, and agents armed with the full history and context of each customer interaction all help improve the overall experience.”

Benefits

The interviewed customers represented financial services, consumer finance, and retail organizations. They struggled with common challenges ranging from managing high call volumes and a lack of omnichannel cohesion that resulted in subpar agent and customer experiences. Some of the qualitative benefits the customers relayed to Forrester in the research about using LiveVox were:

“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

“LiveVox is an omnichannel solution that gives us a full view of each customer’s journey. We can be efficient and nimble now while empowering our agents with the tools and data they need to be successful.”

COO, financial services

ROI

The study evaluated the return on investment for contact centers that use LiveVox’s Contact Center Platform, which is powered by a purpose-built CRM that unifies channels, interaction history, ticketing, and more. 

The risk-adjusted results include:

  • A 229% ROI and the net present value of $8.7M over three years
  • $6.7M in cost savings from call deflection and reduced AHT over three years
  • Increased operating income by $1.3M over three years
  • $1.5M in cost savings by replacing legacy solutions 
  • Payback in less than 6 months.

Savings

  • $1.2M saved in improved agent capacity planning
  • Inbound contact savings from deflection and reduced AHT, saving $4.5 million over three years.
  • Outbound contact savings through deflection and reduced AHT, saving $2.9 million over three years.
  • Supervisor efficiency gains represent $470K over three years.

Forrester noted significant savings related to legacy system maintenance as shown in this figure from the study.  

LiveVox’s impact on contact centers

According to Forrester’s research, another critical area where LiveVox has an impact is in helping customers to increase operating income through improved customer penetration and success.

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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.

To stay up to date with everything LiveVox, follow us at @LiveVox, visit www.livevox.com or call one of our specialists at (844) 207-6663.

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