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August 5, 2021

LiveVox’s Next-Gen Contact Center Platform Delivers 229% ROI According to Total Economic Impact Study

Independent study evaluates the financial impact of deploying LiveVox’s Blended Omnichannel and purpose-built CRM together for improved agent and customer experience

SAN FRANCISCO, CA – August 5, 2021 – 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 management totaled $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 release. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “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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About LiveVox

LiveVox is a next-generation contact center platform that powers more than 14 billion interactions a year. We seamlessly integrate omnichannel communications, CRM, AI, and WFO capabilities to deliver an exceptional agent and customer experience while reducing compliance risk. Our reliable, easy-to-use technology enables effective engagement strategies on communication channels of choice to drive contact center performance. Our battle-tested risk mitigation and security tools help clients maximize their potential in an ever-changing business environment. With 20 years of cloud experience and expertise, LiveVox’s CCaaS 2.0 platform is at the forefront of cloud contact center innovation. Our more than 500 global employees are headquartered in San Francisco, with offices in Atlanta; Columbus; Denver; New York City; St. Louis; Medellin, Colombia; and Bangalore, India.

To learn more, visit www.livevox.com or call one of our specialists at (844) 207-6663.

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