Independent Study Finds Enterprises Can Realize A 213% Return on Investment when deploying Five9 Intelligent Cloud Contact Center

Rhea-AI Summary

Five9 (NASDAQ: FIVN) announced results from a Forrester Consulting Total Economic Impact study, showcasing enterprises using the Five9 Platform achieving a 213% ROI. The study highlights that a composite organization realized benefits of $27.58 million over three years against costs of $8.81 million, leading to a net present value of $18.77 million. Key savings were reported from automating tasks with Intelligent Virtual Agents and improving operational efficiency, positioning Five9 as a critical solution during economic challenges.

Positive

• ROI of 213% for enterprises using Five9.
• Net present value of $18.77 million over three years.
• Total benefits of $27.58 million compared to $8.81 million in costs.
• Cost savings of $15.8 million from automating repetitive tasks.
• Reduction in downtime costs by $3.4 million.
• Savings of $3.6 million from retiring old systems.

Negative

• None.

The study shows that enterprises using the Five9 Platform saved them money, created happier employees, and became more efficient in operations

SAN RAMON, Calif.--(BUSINESS WIRE)-- Five9, Inc. (NASDAQ: FIVN), a leading provider of the intelligent cloud contact center, today announced the results of a commissioned Forrester Consulting Total Economic Impact™ (TEI) study, revealing enterprises deploying Five9 solutions can realize a return on investment (ROI) of 213%.

Forrester interviewed four Five9 enterprise customers in multiple industries to understand the benefits, costs, and risks of moving on-premises contact centers to the cloud and deploying AI solutions. Their experiences were aggregated, and a composite organization was defined to form the basis for the study. According to Forrester, “The representative interviews and financial analysis found that a composite organization experiences benefits of $27.58 million over three years versus costs of $8.81 million, adding up to a net present value (NPV) of $18.77 million.”

“Contact centers are mission critical especially during an economic slowdown,” said Rowan Trollope, CEO, Five9. “When customers and businesses are stressed, providing an efficient and effective CX becomes even more paramount. We believe Forrester’s findings in this study show that contact centers that make the move to the cloud and start to invest in AI can not only see results in triple digit ROI and payback periods measured in months; they can also deliver improved experiences to their customers and employees resulting in greater brand loyalty.”

Before implementing Five9, interviewees noted challenges with their on-premises contact centers including: the inability to scale to meet seasonal demands, an inability to accommodate organizational growth; recurring outages that could be several hours to days long; and lack of unified reporting, leading to the inability to collaborate between lines of business. Realizing the need to update old, legacy systems, those interviewed revealed how leveraging the Five9 platform improved their overall business operations.

The three-year, risk-adjusted present value (PV) quantified benefits for the composite organization include:

• Automating repetitive tasks: Using Five9 Intelligent Virtual Agent (IVA) to handle repetitive calls and tasks delivered a cost savings of $15.8 million from call containment within the IVA.
• Reduced handle time: Agent call handle time dropped 5% with intelligent routing and integration with CRM (Customer Relationship Management) systems.
• Avoiding on-premises downtime: Contact centers implementing Five9 reduced the costs of downtime, saving $3.4 million from greater system reliability.
• Retiring old systems: By retiring on-premises environments, baseline cost savings are $3.6 million.
• Accelerated training: Utilizing Five9 Agent Assist streamlined onboarding for new agents and enabled a faster ramp time, which allows them to support the business a day earlier. Accelerated training drove cost savings of $242,100.

“We are making our agents more effective by automating the front-end support by bringing in the chat bots and IVA,” said an IT manager in automotive retail who was interviewed by Forrester as part of the study.

Other notable benefits revealed in the study include streamlining business operations by consolidating multiple domains and global locations; improved customer retention using natural language with the IVA; centralized data to provide better visibility, allowing agents to see what was needed to improve CX; and increased operational flexibility, enabling agents to continue working remotely post pandemic.

Read the full study to learn more.

About Five9

Five9 is an industry-leading provider of cloud contact center solutions, bringing the power of cloud innovation to more than 2,500 customers worldwide and facilitating billions of call minutes annually. The Five9 Intelligent Cloud Contact Center provides digital engagement, analytics, workflow automation, workforce optimization, and practical AI to create more human customer experiences, to engage and empower agents, and deliver tangible business results. Designed to be reliable, secure, compliant, and scalable, the Five9 platform helps contact centers increase productivity, be agile, boost revenue, and create customer trust and loyalty.

For more information, visit www.five9.com.

Engage with us: Twitter, LinkedIn, Facebook, Blog, Dare to Reimagine podcast.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220823005234/en/

Suzie Linville

Suzie.Linville@five9.com

720.951.2717

Source: Five9, Inc.

FAQ

What were the key findings of the Forrester study for Five9 (FIVN)?

The study revealed a 213% ROI and total benefits of $27.58 million over three years for enterprises using Five9.

How much cost reduction did Five9 (FIVN) provide through automation?

Five9 offered cost savings of $15.8 million through automating repetitive tasks using Intelligent Virtual Agents.

What is the net present value reported in the Forrester study for Five9 (FIVN)?

The net present value reported is $18.77 million over three years.

How did Five9 (FIVN) help reduce downtime costs?

Contact centers using Five9 saved $3.4 million from improved system reliability, reducing downtime costs.

What was the overall cost comparison in the Forrester study for Five9 (FIVN)?

The study indicated total benefits of $27.58 million against costs of $8.81 million.