Success Story: GECU Credit Union

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

“Our quality and service levels are averaging in the 97% tier.”
- Joshua Gomez, Assistant Vice President-Call Center, GECU

GECU Increases Productivity and Service Levels with Monet Software

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

WFM Live 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

The opportunity and challenge

  • Increase individual and departmental productivity
  • Service level attainment
  • Decrease agent available time (Idle Time)
  • Improve the accuracy of staffing projections (daily and yearly)
  • Implement a reporting option that integrates with their current CMS system.

Solution Benefits

  • 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

The opportunity and challenge

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

Solution Selection

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 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 Monet at the time as part of their due diligence process.

Implementation

Since Monet is delivered as a cloud-based solution the implementation and setup was easy and complete within two months:

  • January/February: Project Kickoff, Data Gathering Form, Local Configuration, Virtual Server Creation, ODBC and Data Collector Installation, RTA Interface Installation, Communication Testing, Firewall Change Authorization, Data Validation, Production Enablement.
  • March: Admin User Setup, User Training, Testing, Issue Reporting, Go-Live, Operation Monitoring, Final Project Acceptance.

Having an application that’s cloud-based also significantly reduced the investment in hardware, software, and humanware (IT people, consultants, etc.). Cloud computing offered a satisfactory business model that is reliable, safe, functional, accepted, and verified to be responsive to the Compliance and IT parameters of operation our institution required from the beginning.

Results

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

“Now that we have brought 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. Monet’s cloud-computing model made this a low risk, high reward solution for GECU.

“In terms of ROI, 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.

About Monet WFO Live

Monet Software is a global provider of workforce optimization software solutions for contact centers. Monet's cloud-based solution, Monet WFO Live, is an affordable and easy to use call center optimization software solution that includes workforce management, call recording, quality monitoring and performance management. Contact centers will start improving service levels and reducing center costs without the upfront expenses and IT requirements of traditional workforce software. For more information about Monet Software, please go to www.monetsoftware.com or subscribe to our blogs about Workforce Management and Call Recording.
  • Affordable: Low per user fee, minimal capital investment, no hidden costs
  • Fast set up: Get started within 30 days, easy to learn and use
  • Complete functionality: Workforce Management, Call Recording, Quality Assurance and Performance Management
  • IT friendly: Secure and cloud-based, minimal IT management
  • Proven results: Improved service levels, increased productivity and compliance

Corporate website: www.monetsoftware.com

Workforce management blog: http://blog.monetsoftware.com

Call recording and monitoring blog: http://call-recording-blog.monetsoftware.com/

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