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Credit and debit card fraud can cost the UK economy significant amounts of money each year. According to UK Finance, which represents the banking and finance industry, the total losses due to card fraud in the UK in 2021 were around £470.5 million.
The cost of credit fraud is not just financial. It can also have a significant impact on the trust and confidence that consumers have in the banking and finance industry, and can damage the reputation of individual businesses that suffer from fraud attacks. As such, it is important for organizations to implement effective measures to prevent and detect fraud, and to respond quickly and appropriately in the event of a fraud attack.
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The amount of money that your business would save on average by implementing automated email management tools and software like INBOX for your employees would depend on several factors; such as the number of employees, the amount of hours worked, the amount of emails received on average and the amount of emails that can be automated.
If you're interested in email automation and management then try our INBOX calculator for free. Answering 4 simple questions will give you a snapshot of ROI by investing in our INBOX software.
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The amount of time that businesses waste on email administration and management can vary widely, but Britannic finds that the typical factors are determined by:
- Number of employees
- Frequency of email communication
- The complexity of existing email systems and software (if any)
- Confidence and skill level of the employee
- The efficiency of email management processes
- Telephony infrastructure - do employees have the same experience working remotely as they do in the office?
Studies have shown that email administration and management can be a significant time sink for businesses. McKinsey & Company found that employees spend an average of 2.6 hours per day on email-related tasks, amounting to approximately 28% of their workweek.
Another study conducted by Adobe Systems found that the average worker spends 4.1 hours per day checking email, which translates to 20.5 hours per week. The study also found that workers feel overwhelmed by the number of emails they receive and spend significant time deleting or organising emails.
By implementing INBOX our automated email software tool, business can save significant time and money, but also drastically increase customer service, response times and employee well-being and satisfaction.
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There's a considerable amount of time-wasting practices that employees fall trap to, all which can be avoided by investing in a smart email management tool:
- Checking emails too frequently: Constantly checking email can be a major distraction to an employees day to day tasks. Employees may waste time repeatedly switching between email and other work, rather than focusing on completing one task at a time.
- Managing and curating their inbox: Many employees waste a lot of time sorting through their emails, whether that's putting emails in different folders, flagging emails with different priorities, or even deleting spam and checking junk. This email 'housework' is a big time sink.
- Not prioritising emails correctly, or not at all: Employees may waste time on less important emails, such as newsletters or marketing promotions, rather than focusing on urgent or important messages. This can lead to important emails being missed or delayed, resulting in missed deadlines or opportunities.
- Responding to emails immediately: Responding to every email immediately can be a significant time drain. Employees may spend too much time crafting lengthy responses or providing unnecessary details when a brief response would suffice.
- Replying to all: Employees may waste time by replying to all recipients on an email thread, even if their response is not relevant to everyone. This can result in unnecessary email clutter and may lead to confusion or miscommunication.
- Poor email organisation: Employees who do not organise their email effectively may waste time searching for old emails or important attachments. This can be especially frustrating when dealing with a high volume of email traffic.
- Multitasking: Attempting to multitask while responding to emails can be a significant time drain. Employees may spend more time switching between tasks than actually completing them, resulting in decreased productivity.
- Email anxiety: Many employees feel the need to respond to seniors quickly and this is also true for customers; however this is most of the time at the cost of not responding to others and the longer an email is unanswered, the more anxiety and worry is built up, leading to the employee rushing a response which can lead to errors and misinformation.
- Checking emails too frequently: Constantly checking email can be a major distraction to an employees day to day tasks. Employees may waste time repeatedly switching between email and other work, rather than focusing on completing one task at a time.
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A business orchestration tool like Britannic's INBOX, is a software application that helps streamline and automate complex workflows or processes. It allows users to define, manage, and execute various tasks, activities, or operations in a coordinated manner. This should not be confused with a Marketing Email Orchestration Tool which marketers use to create outbound campaigns.
INBOX's email orchestration element specifically refers to the automation and management of inbound emails and digital communications. Email orchestration offers several benefits for businesses:
- It saves time and effort by automating repetitive tasks, such as sending welcome emails, follow-ups, or abandoned cart reminders.
- It helps maintain consistent and timely communication with customers, ensuring they receive relevant content at the right moments.
- By segmenting the audience and sending personalised emails based on their behavior or preferences, email orchestration increases engagement, conversion rates, and customer satisfaction.
Overall, a business orchestration tool empowers businesses to effectively manage and optimise their customer journey, allowing customers to self-serve, improve first contact resolution and handle customer queries without human intervention.
- It saves time and effort by automating repetitive tasks, such as sending welcome emails, follow-ups, or abandoned cart reminders.
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INBOX is a powerful tool that enables businesses to automate and optimise their customer service efforts. By leveraging email automation, companies can create and send targeted messages to customers based on their specific needs and preferences drastically saving business resource and improving overall customer service.
INBOX allows businesses to send automated responses to customer inquiries and requests. When a customer reaches out for support or assistance, an automated email can be triggered, acknowledging their message and providing initial information or a confirmation of receipt. This immediate response helps set customer expectations and assures them that their query is being attended to.
Secondly, INBOX enables businesses to send personalised and relevant content to customers at various stages of their journey. By segmenting customer data and utiliisng automated email workflows, businesses can send targeted messages based on specific triggers or actions taken by customers. For example, if a customer is asking for an order update or submits a simple enquiry such as 'When are my bins being taken out?" This personalised approach makes customers feel valued and fosters a stronger connection with the brand but also customers satisfaction comes mainly from the prompt and correct response/answer.
INBOX's email automation elements can also be used proactively; by setting up automated email campaigns, businesses can send follow-up emails to check customer satisfaction after a purchase or enquire about their experience with a particular product or service. This proactive communication demonstrates care and attentiveness, leading to increased customer satisfaction and loyalty.
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Managed IT and communications services involve outsourcing the management of your IT infrastructure and communication systems to a third-party provider. This includes tasks such as maintenance, monitoring, optimisation, security, and support, allowing your business to focus on core activities.
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Managed Services can improve efficiency, reduce costs, enhance security, provide scalability, offer expert support, and ensure proactive maintenance. These benefits help your business operate more smoothly and focus on growth and innovation.
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- One click from chat to voice to video meetings
- Company-wide team messaging
- HD video conferencing with screen sharing
- Integration with CRM & business applications
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Includes X2 capabilities plus:
- Unlimited global calling for UC across 47 countries
- Supervisor & service quality analytics
- Streamline call handling with Switchboard Pro
- Call quality reporting
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