Every industry has its own jargon or language or buzzwords or lingo. The contact center industry is no different and this series is designed to help folks who are either new to the industry or who are trying to set up or retain their own BPO contact center. If you missed Contact Center Terminology Part I, you can find it here.
5. Customer Relationship Management (CRM)
CRM is short for customer relationship management and it is typically used in the context of an application. (IE: “CallCenter.com customer service agents are well versed in a wide variety of CRM apps including Limelight, Konnektive, etc…).
CRMs are also a database, analytics and customer-centric tool companies use to manage customer records. A good CRM will keep records and analytics on everything from fullfillment operations to contact center activities to order processing (and much more).
6. First Call Resolution (FCR)
First call resolution is when a customer’s questions are completely addressed the very first time he/she reaches out to a contact center. This is CallCenter.com’s bread and butter and it is considered a platinum benchmark by which all customer support companies and departments are measured. FCR not only decreases costs to the client but it creates a level of customer service that ensures people are not only satisfied with their experience but that they buy from you again and again, tell all their friends about your products and – if they are predisposed to writing online reviews – write only positive, glowing things about your company.
7. Full-time Employee (FTE)
A full-time employee refers to customer service agent whose combined work hours in a week equal the number of hours a business consider full-time. This is used in the context of capacity planning and forecasting. For example, your CallCenter.com account manager might say to you, “Yes, sir, we’ve scheduled 9 FTEs over the holiday weekend to handle your calls and make sure the service level goals are met.”
8. Interactive Voice Response (IVR)
An IVR is a telephony menu system that identifies, segments and routes calls to the most appropriate agent or group of agents within a business unit.