Challenges
In stock broking, call flows are unpredictable and easily affected by market sentiment. Before Ozonetel, every call center solution this firm used
had crashed under these high, fluctuating call loads. The firm wanted a robust platform on which they could automate and streamline operations.
With our robust solution, the company could now handle 40,000+ calls daily and 1000+ calls concurrently, ensuring high uptimes even during peak loads. With intelligent IVR, callbacks, and supervision they efficiently managed the entire
operations in a cost-effective virtual setup.
Solution
Results
The broking firm now provides their customers with uninterrupted service and high First Contact Resolutions (FCR).Moreover, by successfully empowering work-from-home teams, they were able to improve Handle Times by 25% and reduce agent attrition by 40%.
In Stockbroking, Responsive Customer Service is Vital
When it comes to their investments, even a minute’s delay in answering a call can panic a customer. For our client — one of India’s most trusted broking houses — a reliable and responsive contact center was essential to manage this customer anxiety and ensure high customer satisfaction.
However, call volumes in the stockbroking industry are unpredictable. Every contact center solution the broking firm had tried invariably crashed under the load of fluctuating call volumes. They required a robust solution that could handle their inbound and outbound calls — efficiently, cost-effectively, and reliably.
Ensuring High Uptimes, Uninterrupted Service, and High CSAT
Unlike other call center solution providers, Ozonetel’s robust CCaaS (Contact Center as a Service) platform could successfully handle high and fluctuating call volumes. With Ozonetel, the firm could handle 40,000+ calls daily and up to 1340 calls concurrently. They also created redundancies and took fail-safe measures to mitigate telecom outages. This meant that they could now offer reliable phone support where every customer call is answered, even when call volumes spike during a market shakeout
Deep CRM Integrations Improve CSAT by 60%
Through a deep Salesforce integration, the system identifies and routes callers to the right agent, offering personalized support and ensuring contextual conversation. This contributed to an 80% First Contact Resolution(FCR) rate, with a 60% jump in CSAT score.
Customer-centric IVR Reduces Abandon Rates by 58%
A self-service IVR further automated 35-40% of all incoming calls, reducing the need for agent intervention. Consequently, wait times decreased so significantly that abandon rates fell by 58%.
The IVR would also notify customers about technical issues in advance, preventing telephone line congestion. Voice blasters were also used for quarterly fund pay out and compliance-related announcements.
One Solution for Equity, Commodities, and Brokers
The company leveraged Ozonetel’s comprehensive solution for both inbound and outbound calls. Call recordings & secure storage ensured compliance with SEBI’s mandate of maintaining legally verifiable records of clients’ orders. And integrated dialers improved the efficiency of outbound calls.
Routing calls to specialized teams reduced Average Handle Times by 25%. The firm created dedicated teams to handle calls for equity and commodity trading. Post 5:30 p.m., when equity trading closes, the system auto-routes all calls to the Commodities Team.
40%
IMPACT: 40% of queries
solved without agent
intervention
58%
IMPACT: 58% lower call
abandonment due to
reduction in wait times
40%
IMPACT: The contact
center’s agent attrition
rate is one-fourth of the
industry average.
Advanced Tools to Facilitate Remote Working
When the pandemic broke out, the brokerage firm ensured uninterrupted business continuity by directly patching calls to agents’ mobile phones. Supervisors used Ozonetel’s Call Monitoring Dashboard, Darwinbox integration, and Rogue Agent features to ensure high productivity and discipline. Today, their entire team of 650+ agents continue to work remotely — efficiently handling over 1 lakh minutes of conversation daily.
Benefits & Overall Impact
Our offerings have enabled the brokerage firm to promptly address and resolve any customer issues with a higher level of support, tailored to meet the unique needs of each customer. The collaboration has led to several not able accomplishments for our client, which serves as a testament to our commitment to deliver exceptional customer experiences.
- Improved reliability. High uptimes
- Uninterrupted service across 40K+ calls
- 40% calls resolved without agent intervention
- Achieved FCR of 80% and boosted CSAT by 60%
- Average Handle Times reduced by 25%
- Virtual operations. Low infrastructure costs
