By automating processes and reducing ticket handling time, Freshworks’ customer support platform provides a payback in less than three months
Freshworks Inc., the customer engagement software company, announced a new commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting which found Freshworks’ customer support offering, Freshdesk Omnichannel, provides a three-year return on investment (ROI) of 462% for midmarket customers. The study shows that Freshdesk Omnichannel meets the needs of increasingly demanding companies, which require solutions that are both easy to roll out and provide an immediate return, with a payback in less than three months on average. Freshdesk Omnichannel midmarket customers achieve extensive value by reducing handling time per ticket, automating processes to deflect tickets to self-service, and improving agent workflow to provide superior customer service and experiences that create customers for life.
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The Forrester TEI study examined the value of Freshdesk Omnichannel to senior management and key business stakeholders as it pertained to their customer engagement initiatives. In the study, Forrester conducted interviews exploring customer service with Freshdesk Omnichannel midmarket customers across four industries (health technology, consumer goods, travel and logistics) with a representative profile of $400 million in annual revenue, an average of 240,000 customer interactions per month, and a growth rate of 15% year over year.
In addition to the findings from this study, companies like Parcelhub, which provides a single access point for shipping across multiple carriers, are seeing huge productivity gains to efficiently handle spikes in demand. “Due to the pandemic, Parcelhub’s shipping volumes have grown massively. Freshdesk Omnichannel allows our proactive tracking support team to act as an extension of our clients’ customer service departments and has enabled our large support team to work more flexibly from home,” said James Hayes, Director of Business Development, Parcelhub. “Freshdesk Omnichannel has helped us increase productivity by 30%, resulting in consistent success achieving our SLAs,” continued Hayes.
In the Forrester study, the Freshworks customers cited high complexity and cost of managing multiple solutions, lack of a unified view of the customer journey, and inaccurate measurement and reporting as top challenges that were solved by Freshdesk Omnichannel. With Freshdesk Omnichannel, these companies overcame previous challenges and experienced the following value-add and cost savings:
- Reduced wait times and frustration with low-effort service experiences. Freshdesk Omnichannel’s support allows businesses to manage multiple support channels and easily shift users from phone support to lower-cost channels (e.g., live chat or WhatsApp). This allows agents to work on multiple support tickets simultaneously as opposed to just one at a time over the phone. Forrester estimates that the average cost of these web-based channels is 70% lower than an agent-intensive phone channel.
- Improved agent workflow. Freshdesk Omnichannel’s customized and automated workflows prioritize and categorize tickets, intelligently assign agents with precision and speed, and offer instructions and suggestions for each ticket to make the day-to-day work easier and more intuitive. Freshdesk Omnichannel also provides greater visibility into the customer journey across all channels, so agents can serve customers faster and be more proactive during each customer interaction. Forrester estimates that customers reduce the average handling time per phone ticket by 25%, saving an average of 65,000 hours over three years.
- AI powered customer-facing self-service, freeing up agent time. Every year Freshdesk Omnichannel customers can deflect an estimated 40% of tickets to self-service channels. For the composite customer in this study, this added up to more than 768,000 support tickets over a three-year period.
- Avoid the cost of reporting and administrative tasks. Freshdesk Omnichannel’s AI capabilities automate repetitive tasks and reporting, freeing up agent time to focus on more strategic and complex work. Forrester estimates the composite organization saves more than 54 hours per agent per year on repetitive manual tasks and reporting.
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“Today’s challenging economic environment means it’s more important than ever for businesses to improve productivity and reduce customer churn while implementing cost-saving measures,” said Prakash Ramamurthy, Chief Product Officer of Freshworks. “This study showcases the significant value of Freshdesk Omnichannel’s capabilities including Freddy AI for CX, which empowers greater customer service to help companies increase satisfaction and keep customers for life.”
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