UPDATED 16:29 EDT / MAY 04 2011

Failed Phone Authentication Costs Companies Money: ClickFox Report

Analytics company ClickFox released its latest Customer Experience Analytics Insights report, which focuses on customer service phone systems. It turns out that 10 percent of all customers are transferred to an agent due a failed authentication attempt by the system. Assuming that each such call would cost a company $5, the firm reckons that closing that 10 percent gap would save organizations an average of more than $13 million per year.

ClickFox’s study also found that among the callers who are transferred to an agent due to the lack of information the system has, 30 percent are more likely to need to be transferred to at least one more agent to complete their transactions.

“Since the system is unable to identify the caller, it can’t route him to the agent best equipped to handle his request,” said Lauren Smith, director of analytics at ClickFox.”

On top of higher costs and longer average call handling times, Smith also noted a 12% drop in customer satisfaction. More loss in revenue and sales s accounted to the fact that agents are distracted from other tasks.

Smith highlighted that the most authentication failures result from systems that request information that is not readily available to the caller. This reflects the importance of data analytics in practically every area fairly accurately. Turns out that the mobile industry is the leader in the field with the least authentication failures, while the insurance industry was the lowest of all verticals with a 48 percent success rate.

ClickFox has a growing share of the analytics market. A few months ago it has secured $18 million a Series C funding round. The round was spearheaded by Morgan Stanley Alternative Investment Partner, and represents a growth in the interest surrounding big data analytics and the position of ClickFox in this accelerating industry.


A message from John Furrier, co-founder of SiliconANGLE:

Your vote of support is important to us and it helps us keep the content FREE.

One click below supports our mission to provide free, deep, and relevant content.  

Join our community on YouTube

Join the community that includes more than 15,000 #CubeAlumni experts, including Amazon.com CEO Andy Jassy, Dell Technologies founder and CEO Michael Dell, Intel CEO Pat Gelsinger, and many more luminaries and experts.

“TheCUBE is an important partner to the industry. You guys really are a part of our events and we really appreciate you coming and I know people appreciate the content you create as well” – Andy Jassy

THANK YOU