Virtual queuing

Your fear of speaking with customers may be warranted if you are without enough specialists to handle caller demand. According to a study by Genesys Telecommunications, “67 percent of consumers are frustrated by long hold times.” In light of this, organizations in the banking and finance industry are starting to pursue contact center technologies that improve the customer experience. Virtual queuing is one of these technologies. Rather than make a customer wait on hold to speak to a customer service representative, the technology offers to save the customer’s place in line and call them back when it is their turn, in the time promised. This has proven to be a huge productivity saver for both customers and contact centers.

Virtual Hold Technology, a Northeast Ohio software development company, created the technology over 10 years ago and has recently seen tremendous growth in the financial vertical market. Besides saving customers’ places in line, Virtual Hold allows Internet users to see wait times for specific departments within your contact center. These Web customers are then empowered to enter the queue and receive a return call from a representative. In this manner, new channels of communication are opened, allowing customers more choices with regard to how they do business with you.

This technology has been implemented at companies like JP Morgan Chase, Bank of America, Wells Fargo and The Hartford. Customers of organizations using this technology indicate that waiting on Virtual Hold is the “next best thing” to being answered right away and that the technology is a “real time saver.”