CFO Guide:

Driving cost out of Customer Care with
virtual-first CX

CFOs in CX >

Explore four major ways to reduce costs
and improve revenue with virtual-first care

Increase productivity 34%

Increase workforce productivity 34%

New scheduling models increase occupancy & utilization.

Hit 150%
of sales

Hit 150% of sales goals

Best-in-class, virtual learning programs improve cross-sell and up-sell.


Improve retention

Mature, gig-economy Service Partners increase NPS and build brand loyalty.

Reduce facilities & tech cost 12%

Reduce facilities
/ technology cost 12%

A turn-key, WFH CX platform lowers capital investments.

CFOs drive transformation in CX 

What if you had the opportunity to reduce your
Customer Care outsourcing spend by roughly 30%?

The modern Chief Financial Officer (CFO) is becoming the key driver of operational efficiency for businesses worldwide.  Traditionally focused on financial planning and risk management, CFOs are now driving initiatives, like zero-based budgeting (ZBB), which take hard looks at everything from systems to logistics as a way to create a financially efficient business.  Each department is being asked to evaluate everything they do and find new ways to execute.  These initiatives are eliminating waste and driving transformation of strategies, systems, and processes.  When looking for process improvements and cost savings, there is tremendous opportunity for significant transformation in Customer Care. 

Modern CFOs are seeing the monumental ways that COVID-19 has changed customer behaviors.  With Brands spending between 3% to 5% of their budget on Customer Care (Everest Group), they recognize that now is the time to take advantage of these changes to redesign Customer Care to be more cost efficient and focused on revenue generation.  The basic model of staffing, training, and scheduling Customer Care agents hasn't changed since the 1990s even though every other department in an enterprise looks nothing like it did 30 years ago.  Customer Care represents the next big opportunity to improve efficiency, reduce costs, and improve customer satisfaction.  Here are major opportunities for transformation:

Workforce planning 

Traditional BPO workforce planning means agents only speak with customers 50-70% of each paid hour.

Agent productivity

Improving utilization and occupancy can help reduce headcount by up to 25%.

Hard costs

Technology and facilities costs are drastically reduced by virtual-first CX.

Speed to proficiency 

Virtual learning programs can reduce curriculum time by up to 38% and decrease attrition.

Abandoned customers

Traditional BPOs accept abandon rates of 8-12% costing millions in lifetime revenue value.

True or False

You’re correct, it’s FALSE!

Companies that earn $1 billion annually can expect to earn, on average, an additional $700 million within 3 years of investing in customer experience (source).

You're incorrect, it’s FALSE!

CX transformation can lead to hundreds of millions of dollars in incremental revenue for every 1-point increase in the CX Index™ (source). Only if you have extraordinary spend would it outweigh these financial advantages.

The time is now to reinvent CX

There has never been a more opportune moment to overhaul Customer Care.  COVID-19 has driven more customers to shop online and over the phone.  Customers have fully embraced asynchronous chat on text, email, and social media platforms.  Customer behaviors have changed and are never going back.  This transformation of customer expectations presents an incredible opportunity to transform CX, get closer to customers, and eliminate the cost inefficiency that has been part of traditional BPOs.

Reduce costs now: Schedule a free 4-hour consultation with a Solution Design leader

Download this whitepaper in PDF format and schedule a consultation led by David Sokolitz, Vice President of Solution Design at Arise Virtual Solutions, to determine your Brand’s full cost savings.

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