2022: Year of Knowledge Management for Customer Service
This is what Gartner had to say about knowledge management in their recent reports.
♦ “The rapid creation and retrieval of relevant content and knowledge are critical to improving the overall customer experience.”
♦ “Knowledge management is the No. 1 technology for enhancing the three main customer service perspectives of operational performance, CX and employee experience.”
♦ “By2023, organizations at advanced stages of digital transformation will find that poor customer experience is their biggest barrier to further success.”
♦ “Knowledge is an underemphasized aspect of experience design and demands a higher prioritization.”
♦ 84% of contact center agents do not think that their desktop tools help them handle customer issues and less than 12% of them say that the tools simplify their day-day work.
♦ Organizations with higher CX maturity expect to increase investment in knowledge management tools for CX by a big margin over those with lower levels of CX maturity.
Stunning success of eGain Knowledge clients
♦ Blue-chip leaders with high CX maturity have been investing in knowledge management with stunning results in transforming CX and generating business value.
♦ Behemoth US government agency deflected up to 70% of incoming calls to virtual assistance, reduced case handling time by 25%, and elevated agent engagement to 92%, beating their industry benchmark of 67%!
♦ Leading health insurance company reduced agent training time by 33% and sustained agent performance even when their 2000+ agents had to go remote overnight when Covid hit.
♦ Leading telco improved First-ContactResolution(FCR) by 37%, while reducing training time by 50% across 10,000+ agents and 600 retail associates and improving Net Promoter Score (NPS) by 30 points.
♦ Global bank improved FCR from 70% to 95%,while reducing agent training time from 10 weeks to 4 weeks while being compliant with regulations.
You have heard what the preeminent pundit had to say about knowledge management, and you have seen the proof of the knowledge management pudding in the business value eating. If you have not modernized knowledge management for the digital-first, remote-first age, 2022 is the year to do so.
Don’t be left behind and talk to you soon!
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