US-Based Energy Company’s Strategic Outsourcing Yields $14 Million Annualized Savings in Customer Service

Share the Smiles

Fortune 500 Brand Selects iQor for First-Time Customer Service Outsourcing Over Several Gartner CS Magic Quadrant Leaders

Why iQor   

In this story, you’ll discover how iQor’s industry-savvy new program implementation (NPI) team provided a focused approach to launching a new outsourced customer service program for a U.S.-based Fortune 500 energy company. Tasks were divided and delegated to team members, who are experts in cloud-based omnichannel solutions, automation, process, proficiency, and security.  

In collaboration with the client, these specialized skills enabled iQor to identify the optimal mix of resources—CX automation and people—to ensure the success of the support transition. The implementation quickly optimized and scaled program performance KPIs and reduced the overall service cost. This program implementation strategy yielded $14 million annualized savings in customer service while exceeding CSAT goals. 

Background   

After testing iQor’s non-voice back office support services, this U.S. energy company conducted a rigorous evaluation and due diligence process that included several BPOs recognized as Leaders in Gartner’s Magic Quadrant for Customer Service. They selected iQor as their first and sole outsourced customer service BPO handling both voice and non-voice support for:  

• Credit. 
• Revenue recovery. 
• Service calls for new orders. 
• General customer care. 
• Emergency calls.  

iQor’s experience supporting the energy industry and proven track record of accelerating agent proficiency in multiple geographies were compelling differentiators that paved the way for major strategic savings while maintaining or exceeding quality benchmarks.  

Challenge  

When considering their decision to partner with a BPO for the first time, the energy company had two primary requirements: 

1. Address soaring attrition and recruiting costs that were impacting CSAT in its domestic operations, despite having already made significant investments. 

2. Select a partner with a proven track record in the energy space that could offer compelling strategic CX solutions through an efficient mix of automation and people that would also lower costs while providing a consistent and positive customer experience.  

Regulations and labor agreements limited the energy industry’s pursuit of nearshore and offshore customer service locations. The increasingly tight labor market fueled by the pandemic led the energy company to reevaluate their support model and consider geodiversity in their customer service solutions. 

Solution 

The energy company partnered with iQor to craft a strategy that would produce exceptional customer experiences and significant financial savings.  

The teams worked closely to transition much of the energy company’s support to nearshore and offshore locations that met their support criteria. Our client banked on iQor’s track record of identifying automation opportunities, accelerating agent proficiency, ensuring infrastructure stability for secure work-in-office and work-at-home solutions, providing multi-language support, and fostering a cultural affinity with the U.S. 

iQor’s NPI and operations teams worked collaboratively with the client to identify automation opportunities to accelerate proficiency and performance. iQor included the following two automation elements in the plan to address the client’s unique needs:  

Workflow Automation

iQor identified an opportunity to streamline current call center processes in the back office by automating manual tasks such as automated acknowledgements, data entry, and status updates. 

Customer Interaction Optimization

iQor leveraged VALDI, our proprietary interactions analytics and artificial intelligence platform, to analyze call recordings and extract insights that improved customer interactions and customer experience. 

Additionally, our client collaborated with iQor on all aspects of the new program integration, including:  

• Improved workflow design. 
• Reengineered process management to increase efficiency. 
• Enhanced communication and continuous improvement collaboration. 
• Modified accountability model. 
• Applied iQor’s Compliance Competency Improvement Matrix. 

The support provided by iQor’s senior leadership resulted in a smooth transition to a first-time outsourcing relationship that made the client and their end customers smile. 

Results 

Annualized cost savings of $14 million. 

Exceeded 2022 customer satisfaction (CSAT) goals.

Introduced new automation and analytics tools to streamline processes.

Managed 100% of the client’s inbound email response correspondence with excellent outcomes.

• Reduced average handle time (AHT) of customer email to meet client’s goal.
• Significantly shortened customer email response time.

Virtually zero attrition the first 12 months. 

Met timeline and performance commitments for seamless ramps in offshore and nearshore locations.

Our client continues to expand its strategic use of iQor’s outsourced CX services. They are collaborating with iQor to ensure maximum performance and customer satisfaction outcomes while optimizing the right balance of automation and people for their inbound credit calls.