Real-Time Intelligence for the Contact Center Delivers Better Customer Experience
Today we announced our Series C and presented our vision for the future of the contact center. One that delivers real-time intelligence designed to drive better customer experience, and more productivity for your business.
The round was led by Tiger Global. And it is distinguished by individual investments by industry leaders Genesys, Five9, and Zoom – the first time we have seen these three companies invest in a single company. We also welcomed new investors JP Morgan Chase and CarMax. Sequoia, Greylock, Andreesen-Horowitz, and Porsche returned in this round, as well. We are so grateful for all our investors’ support in our vision and offering.
This great news comes on the heels of Cresta winning the 2022 CX Award for “Most Innovative Product.” The CX Awards is a global event recognizing the best customer experience solutions across contact center, CRM, and artificial intelligence. The Awards are sponsored by CX Today, which identifies the most innovative products that are improving customer experience and customer satisfaction for the leading enterprise in the world.
Why did these industry leaders invest in Cresta? Why did the CX Awards recognize Cresta as the Most Innovative Product?
Because the fact is the contact center is now the front door of your business. Because at that front door, every interaction, whether it’s buying a product, resolving an issue, renewing services is increasingly going through your contact center, especially in today’s era.
One Conversation Can Make or Break a Brand
The physical storefront is now optional, but the digital storefront is essential. And one conversation can make or break your brand. Cresta is essential to delivering better customer experiences, and a key differentiator that digital experience.
Today, customers expect a higher level of service than ever from their contact center. 58% percent of customers have said that the pandemic has increased their expectations for customer service. 91% of customers say a positive experience makes them more likely to purchase again. We’re seeing a minimum of a 50% increase in live calls into the contact center. Contact centers, which have historically had a high attrition rate of almost 40%, are now seeing up to 80% churn, based on data from our recent Cresta Insights Report.
So what does this all mean? At the end of the day, we’re seeing more interactions, more expectations, and more attrition. And this is all in an environment where 80% of customers say that the customer experience is more important than the company’s product or services.
You can’t hire your way out of this, you can’t outsource your way out of this, and you can’t chatbot your way out of this.
These reasons are why we built Real-Time Intelligence for your contact center. For agents, we help them be more productive. For managers, we give them better visibility to coach, especially in a work from home era. And for your business, we deliver information that helps you turn insights into action so you can deliver better experiences for your customers.
The Great Untapped Resource
So how does this help? Cresta taps the collective memory of the organization by unlocking the value in every customer interaction, whether it’s the past, present, or future.
But where is this treasure trove of knowledge? Turns out, it’s in your conversations with your customers. It’s the most valuable resource in your contact center. And unlocking this resource drives a deeper level of insights to drive better customer experience, better coaching, better visibility, and ultimately drive your business strategy.
Like I said, the contact center is now the front door to your business. But the contact center is a complex environment with legacy systems and sometimes outdated infrastructure. It’s a complex set of integrations with your CRM, your knowledge base, and your workforce management solutions, your unified communication systems, and more.
But the fact of the matter is, even though conversations are the most important part of your customer experience, some companies aren’t even tracking those conversations. The conversations in your contact center are a great untapped resource for insights and information. It’s a gold mine to help you understand your product and your service, how your customers are responding, how your market is changing, and how your competitors are competing.
Regardless of what channel the conversation happens in, your business is built on conversation. In fact, a single customer facing representative often has more conversations with customers in a day than your entire executive team will have in a year.
Your contact center is a game of inches. And some existing systems provide limited insights and intelligence.
AI & Real-Time Drive Productivity
This is why AI driven solutions for the contact center are a strategic priority. We’re delivering Real-Time Intelligence for the contact center. We unlock the power of conversations in real time.
Cresta is an omnichannel solution integrated with an open API that peacefully coexists into your contact center environment. We drive insights into actions that result in better outcomes for your business and better experiences for your customers.
We’re on a mission to reimagine every workflow that happens in the contact center with data, better UX, and AI. Cresta provides a portfolio of productivity for your agents, managers, and your business.
First, we offer a Cresta for agents. This is our AI-driven Agent Assist solution with real time coaching. We learn the best practices of your top performers and amplify those behaviors across the entire team. So agents are saying the right thing at the right time every time. This includes identifying emotion, compliance, providing hints, smart responses, knowledge based lookup, and more.
With Agent Assist, we’re seeing an increased CSAT on average by 15%, a reduced ramp time by three times, and agents saving three to five hours in repetitive tasks every week.
Second, we have Cresta for managers. This is Cresta Director, providing unprecedented real time visibility of agent performance and behavior. This includes alerting as well as enabling real time online coaching and workflow optimization, which are critical to help work from home agents improve their customer interactions.
Third and newest is Cresta for business. This is Cresta Insights, providing executive level customer and agent insights on the overall contact center. This will include interactions, performance, identifying hot topics, sentiment, competitive threats at scale, and enabling a smarter and more responsive customer experience.
This is why we say, with Real-Time Intelligence, the contact center got a lot smarter – and a lot more productive.
We are so excited to announce our new funding. We are grateful to our investors, partners, team Cresta, and of course, our customers for their support. However, we are truly excited about these new offerings, and the road ahead to deliver better insights and outcomes, better employee experience, as always, better customer experience.