Back to Case studyCent Bank Home Finance Limited Personalizes Customer Experience by Upgrading its Phone Lines with Hosted IVR
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With its registered office in Bhopal, Cent Bank Home Finance Limited is a home finance and mortgage company offering property loans and multiple deposit schemes. It is jointly promoted by four public sector institutions – National Housing Bank, Central Bank of India, Housing & Urban Development Corporation and Specified Undertaking of Unit Trust of India.
Founded in 1991, the institution gradually expanded its presence to nine states. Its customers include individuals, associations of persons, businesses and societies.
Cent Bank Home Finance Limited received a high volume of incoming calls from their existing customers and potential leads trying to find out more about their services. It needed an Interactive Voice Response (IVR) system to route these calls to the appropriate departments without manual intervention.
Tata Tele Business Services (TTBS) offers a Hosted IVR (HIVR) solution that helps businesses improve their contact centre efficiency and customer service experience. When the procurement team executives contacted us to learn more about the features of the HIVR system, we gave them a demonstration of the functionality and the associated business advantages.
With its low total cost of ownership and ease of customisation, HIVR looked promising to the company and the procurement team asked us to configure the solution for their business phone line.
Business Challenges
The company had to systematise the call routing and needed an IVR solution that would be simple to use and compatible with the existing telephone line. It wanted to set up a greeting and give callers options to proceed in their preferred language and a menu option to direct them to the right department.
Specific expectations when choosing the HIVR system were:
- A multi-level menu and flexibility to adapt to new options when necessary
- Ease of integration with existing backend systems including Customer Relationship Management (CRM) to identify the existing customers and provide self-help options if required
- Availability of dashboards that display daily call data for analysis
Cent Bank Home Finance Limited wanted the TTBS HIVR to avoid the cost of complex equipment that demands maintenance and increases the total cost of ownership.
TTBS Solution
TTBS deployed its HIVR system that integrated readily with the company’s phone line. It featured a greeting, language selection, and multiple menu options, enabling callers to connect with a customer care executive or choose self-help alternatives.
As the company offered financial services and some customers may need to urgently speak to a representative, we tailored the menu in a way that did not lock any caller in an IVR jail.
Our solution architects also performed rapid load testing to ensure that heavy call volumes do not affect the working of IVR.
We were able to meet the predefined service expectations of the company:
- IT managers could effortlessly modify the IVR menu and create new subcategories under each option using the web-based portal linked with the system.
- TTBS IVR was seamlessly integrated with the CRM to recognise registered telephone numbers and authenticate customers through other parameters before providing them with requested information through self-help options.
- Managers could track the total number of calls received daily and could arrange for callbacks of missed calls when the customers were put on hold or disconnected the call due to long waiting time.
The deployment of TTBS IVR involved minimal investment. We also update the software regularly as per the Service-Level Agreement (SLA) to keep it seamlessly functional.
Benefits
- Better customer experience with meaningful responses and quick call routing
- Actionable business insights derived from analysis of daily call data
- Freedom from error-prone manual transfers with automatic call directs to suitable resources
- Cost savings built by the hosted system that eliminates the need for maintaining complex IVR hardware
- Higher employee productivity enabled by addressing some queries with pre-recorded messages
