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Growth is a great thing for any business. But growth that doesn’t bring with it a parallel increase in overhead? Well that can’t be beat!
Payment Service Network, a company that handles the remittance process for a wide array of companies, hit a major period of growth. Their process for taking customer inquiries and payments was a manual one, and the increasing payment volume the company faced meant they would need to hire more agents to process all those payments.
Hiring more agents, however, would affect the company’s growth trajectory, making it a slower process due to the increased cost of customer service representatives.
After researching different options for automating payment phone calls, PSN CEO Norman Ehiorobo, a developer in his own right, settled on the Plum DEV platform and built an interactive voice response (IVR) application for his company. Obviously, the fact that the Plum platform is PCI-DSS compliant was a critical factor for PSN as well.
The PSN application is designed to be customer-friendly. Customers set up an account on their first call, but the system automatically recognizes their number after that, which expedites the payment process.
Recently, PSN has added more features to its self-service application, including outbound SMS notifications to remind customers about upcoming or past-due bills.
PSN fields thousands of phone payment calls every day. Since implementing their IVR self-service application, PSN’s call volume has increased 400–500%. The cost per call for processing payments decreased from several dollars per call with live agents, to pennies on the dollar per call. The savings here several orders of magnitude.
At the end of the day, the voice self-service application powered by Plum technology, enabled PSN to offer more efficient payment processing service to its customers. Plum DEV provided the means to create a great end-user experience.
To learn more details about the PSN solution and the results they achieved, read the full case study.