Success Story: GECU Credit Union

GECU Increases Productivity and Service Levels with Verint Monet Software

This customer success stories summarizes why the GECU credit union selected Verint Monet software as their workforce management vendor and how they were able to achieve a dramatic ROI within a few months.

Opportunity

GECU, a credit union with a call center staffed by 85 agents, selected Verint Monet cloud-based Workforce Management (WFM) to boost its customer service levels and reduce operational costs. GECU’s main goal was to deliver better member service with fewer resources while also getting better insights into its contact center operations. Additionally, GECU was looking to:

  • Increase individual and departmental productivity
  • Improve service levels
  • Decrease agent available time (idle time)
  • Improve the accuracy of staffing projections (daily and yearly)
  • Implement a reporting option that integrated with their CMS system

Once selected, the Verint Monet WFM solution was implemented within two months, an accelerated pace that would likely not have been possible with a non-cloud-based solution.

Solution

GECU conducted a very thorough software selection process, including a formal RFP, vendor responses review, product demos, due diligence process, and vendor comparison study. During the selection process, GECU reviewed traditional on-premises software packages as well as cloud solutions. After careful consideration, GECU came to the conclusion that Verint Monet was the
best option for the following reasons:

  • Reduced IT-investment and admin resources
  • Low implementation service fees
  • Affordable per-user license model
  • Technical support for configuration of rank in the top 97th percentile of its peers
  • Post-implementation training
  • Available reporting tools
  • Robust, yet easy-to-use interface
  • Level of expertise and customer care of employees

Verint Monet WFM delivered the enhanced functionality that GECU desired to achieve its goals. Improved forecasting and scheduling resulted in a 30% reduction in unscheduled breaks. Costly overtime scheduling was reduced, while call volume spikes were managed more easily. Today, the credit union’s quality and service levels rank in the top 97% tier. One GECU executive reported that the system paid for itself after just a few months, with three years of subscription costs offset by savings in salaries, overtime and administrative costs.

Results

Within the first few months of implementing Verint Monet WFM, GECU realized significant improvements in their call center operations as stated.

“Now that we have brought Verint Monet WFM in, we are able to push the envelope with handling time and scheduling. Not only has it saved us costs from an administrative perspective, it also greatly helped us with agent head count. We were able to reduce our number of agents by 14 thanks to more effective scheduling and forecasting. We have other departments that want to take advantage of this tool as well because of their observations of how we were able to better manage our resources and call volume staffing requirements while reducing staff.

Lastly, we found that we were scheduling too many people on Saturdays so Verint Monet WFM has really been instrumental in helping to reduce overtime. Our quality and service levels are averaging in the top 97% tier, third party vendors who evaluate us also rank us in the top 2%.“

- Joshua Gomez, Assistant Vice President-Call Center, GECU.

In addition, GECU realized the following benefits:

  • Unscheduled breaks immediately reduced by 30%.
  • Call volume spikes were better managed, which in turn allowed them to sustain an abandon rate of 3.72% with 3 less full-time agents.
  • Also, the forecasting feature assisted them in better staffing agents, which in turn reduced agent available time (Idle Time) while keeping service levels at or above goal. Overall agent available time was reduced by 62%.
  • Administrative time to develop agent schedules was lessened by 33%.

Return on Investment

GECU was able to implement the solution quickly and achieve an ROI that is unheard of when comparing with traditional on-premise software. Verint Monet’s cloud-computing model made this a low risk, high reward solution for GECU.

“In terms of ROI, Verint Monet has already paid for itself after a few months. The cost of the 3 year subscription I've already saved in salaries, overtime and administrative costs,“

- Joshua Gomez, Assistant Vice President-Call Center, GECU.

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