Success Story: GECU Credit Union

GECU Increases Productivity and Service Levels with Verint Monet Software

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

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Opportunity

GECU, a credit union with a call center staffed by 85 agents, selected Verint Monet’s cloud-based WFM Live to boost its customer service levels. This success story happened when implementation was completed within two months, an accelerated pace that would likely not have been possible with a non-cloud-based solution.

Solution

GECU’s main goal was to deliver better member service with fewer resources while also getting better insights into their contact center operations.

GECU conducted a very thorough software selection process, including formal RFP, vendor responses review, product demos, due diligence process, and vendor comparison study. During the selection process, GECU reviewed traditional on-premise software packages as well as different web-based cloud service companies. After careful consideration, GECU came to the conclusion that Verint Monet’s cloud-based solution 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 on CMS interface
  • Post-implementation training
  • Available reporting tools
  • Robust yet easy to use interface
  • Level of Workforce Optimization expertise and customer care

GECU also touched base with at least four other financial institutions using Verint Monet at the time as part of their due diligence process

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.

“Our quality and service levels are averaging in the top 97% tier“

- Joshua G., Vice President

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 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 Monet 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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