# Document redesign: clarifying communications for CX excellence Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-05-31 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Improving Customer Service in Financial Services: The Key to Meta Description: Learn how financial services companies can reduce call centre volumes and provide better service by redesigning customer-facing documentation. Find out how Go URL: https://financedigest.com/document-redesign-clarifying-communications-for-cx-excellencehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-985559164-1736815675221-compressed.jpg) ![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/1-da-28-450x673-1736815675278-compressed.jpg) _By_ **_Nick Cole,_** _Managing Director,_ [_Go Inspire Solutions_](https://www.goinspire.co.uk/about-us/solutions-division/) This year, businesses are turning their focus back to daily operations, addressing inefficiencies which may have accumulated in the face of other pressures. An area of urgency is the [customer experience](https://www.financedigest.com/why-transforming-the-back-office-is-key-to-customer-experience-success-in-financial-services.html "Why Transforming the Back-Office is Key to Customer Experience Success in Financial Services"), which has evolved during the pandemic. Even before the [health crisis](https://www.financedigest.com/putting-family-first-as-uk-grapples-mental-health-crisis.html "Putting family first as UK grapples ‘mental health crisis’"), use of physical channels was declining. In the 12 months to February 2020, 50% of adults with a day-to-day [account carried out banking](https://www.financedigest.com/scams-avoided-how-to-prevent-bank-account-scams-in-2023.html "Scams Avoided: How to Prevent Bank Account Scams in 2023") in-branch, down from 63% in 2017. [Online banking](https://www.financedigest.com/dutch-online-bank-bunq-applies-for-u-s-banking-licence.html "Dutch online bank Bunq applies for U.S. banking licence") penetration had been consistently rising in Great Britain, reaching 76% in 2020. Without face-to-face interaction, the [need to provide excellent customer service](https://www.financedigest.com/top-5-seo-services-you-need-to-succeed-in-2022.html "Top 5 SEO Services You Need To Succeed In 2022") is particularly pressing. Customers like their banks and [financial service](https://www.financedigest.com/devops-the-secret-tool-thats-transforming-financial-services.html "DevOps: The Secret Tool that’s Transforming Financial Services") providers to be readily available. Easier access to a human representative was a [top customer priority](https://www.financedigest.com/2017-cfo-outlook-top-priorities-as-new-year-gets-underway.html "2017 CFO Outlook: Top Priorities as New Year Gets Underway") in one global survey, closely followed by easier self-service. In the [financial sector](https://www.financedigest.com/how-can-the-financial-sector-safely-use-the-iot.html "How can the financial sector safely use the IoT?"), customer queries may need to be handled more sensitively, or they may be more complex, demanding additional time and specialist knowledge from contact centre professionals. **Freeing up agent time** Since customers may use other channels before picking up the phone, financial services [businesses can support](https://www.financedigest.com/new-business-launches-to-support-it-professionalsfacing-mission-critcial-sector-challenges.html "NEW BUSINESS LAUNCHES TO SUPPORT IT PROFESSIONALSFACING MISSION CRITCIAL SECTOR CHALLENGES") agents by making sure all channels are available and optimised – from the call centre to the email team – to make communications as effective as possible. [Customers often check banking](https://www.financedigest.com/christmas-debt-hangovers-how-banks-can-help-customers.html "CHRISTMAS DEBT HANGOVERS: HOW BANKS CAN HELP CUSTOMERS") websites and apps as a first port of call, and if the information isn’t clear or can’t be found, they will make a call. Rather than solely [investing in call centre](https://www.financedigest.com/samsung-elec-breaks-ground-on-new-chip-rd-centre-plans-15-billion-investment-by-2028.html "Samsung Elec breaks ground on new chip R&D centre, plans billion investment by 2028") technology to reduce call volumes, other efficiencies could be made in tandem, to complement new technologies. From our collaboration with [financial services](https://www.financedigest.com/wrapping-financial-services-in-a-security-blanket.html "Wrapping Financial Services in a Security Blanket") companies, we have seen the impressive results of simply redesigning documentation. Information redesign is the [process of reformatting documents so that customers](https://www.financedigest.com/fraud-protection-why-customer-onboarding-requires-digital-identity-processing.html "Fraud Protection: Why Customer Onboarding Requires Digital Identity Processing") can better understand them. If information on popular channels of interaction is clearer, consumers will be less likely to make a phone call to their banking organisation, freeing up a call centre agent’s time, and allowing them to [give more attention to longer queries](https://www.financedigest.com/legislate-raises-3-6m-to-give-startups-smes-the-technology-to-query-and-compare-every-contract.html "Legislate raises .6M to give startups & SMEs the technology to query and compare every contract"). **Testing the theory** Go Inspire Group conducted randomised control trials (RTCs) with financial services [clients for concrete evidence of the value](https://www.financedigest.com/iris-acquisition-enables-accountants-to-add-greater-value-to-their-clients.html "IRIS acquisition enables accountants to add greater value to their clients") of this solution. The example below outlines the [experience of one general insurance](https://www.financedigest.com/app-based-insurance-cover-for-millennials-possessions-and-experiences-back-me-up-powered-by-ageas.html "APP-BASED INSURANCE COVER FOR MILLENNIALS’ POSSESSIONS AND EXPERIENCES: ‘BACK ME UP’, POWERED BY AGEAS") client, which had 1.55 million customers across the UK at the time of the study. The RCT involved analysing documents for their clarity and comprehensiveness, then creating two copies of the same document: the original version of the document, an application for a general [insurance product; and a copy of the application redesigned with the consumer in mind](https://www.financedigest.com/insurance-products-growing-in-importance-in-2021-and-beyond.html "Insurance products growing in importance in 2021 and beyond"). Generally, an application for an insurance product is believed to be as complex as completing an application for a [personal loan](https://www.financedigest.com/should-you-take-out-a-personal-loan-to-start-or-grow-your-business.html "Should You Take Out a Personal Loan to Start or Grow Your Business?"), as many personal details are needed. When Go Inspire recreated the documents (taking care not to compromise compliance), they found that inbound calls reduced by 9% when compared to the original formatting. For this company, a 9% [reduction in calls equates to a net saving](https://www.financedigest.com/seenthis-launches-emissions-dashboard-to-enable-advertisers-to-analyse-data-reduction-and-emission-savings-on-campaigns.html "SeenThis launches Emissions Dashboard to enable advertisers to analyse data reduction and emission savings on campaigns") of £270,000 per year. There is a small [cost for the time](https://www.financedigest.com/netflixs-gaming-foray-will-cost-time-and-money-wall-st.html "Netflix’s gaming foray will cost time and money – Wall St") it takes to redesign documents for clarity and comprehension. However, the [study revealed](https://www.financedigest.com/first-listener-wide-study-reveals-brand-impact-of-radio-livestream-and-podcasts.html "First listener-wide study reveals brand impact of Radio, Livestream, and Podcasts") a rapid return on investment of over 15 times. If the strategy of information redesign were to be rolled out across a wider segment of the UK financial sector, including general and [life insurance](https://www.financedigest.com/types-of-life-insurance.html "Types of Life Insurance"), mortgage, credit card, and personal loan providers, Go Inspire estimated that the reduced calls would create a saving of _at least £47 million each year._ In reality, this is a conservative estimate, since improved documentation would [reduce the need for other communications](https://www.financedigest.com/home-start-lincolnshire-implements-flexible-unified-communications-service-to-reduce-costs.html "HOME-START LINCOLNSHIRE IMPLEMENTS FLEXIBLE UNIFIED COMMUNICATIONS SERVICE TO REDUCE COSTS"), such as follow-up emails or letters. **Savings opportunities** With more customers online, [companies can save](https://www.financedigest.com/5-saas-tools-to-help-your-company-business-save-money-in-2022.html "5 SaaS Tools To Help Your Company/Business Save Money in 2022") by encouraging customers to sign up for electronic statements, bills and other mandatory communications. In fact, one major telecommunications provider [partnered with Go Inspire is making 30% savings across](https://www.financedigest.com/adverty-partners-with-livewire-to-continue-growth-of-in-game-advertising-across-asia-pacific.html "Adverty partners with Livewire to continue growth of in-game advertising across Asia Pacific") 150 million communications each year by taking this approach. However, if these communications are unclear, this is counterproductive. However, multi-channel remains critical – physical [mail may relay a message more effectively when emails sent to a busy](https://www.financedigest.com/royal-mail-says-uk-business-losing-one-million-pounds-a-day-amid-union-clash.html "Royal Mail says UK business losing one million pounds a day amid union clash") inbox go unnoticed. Once all communication materials are optimised, the [next step](https://www.financedigest.com/eu-leaders-to-discuss-next-steps-on-energy-ukraine.html "EU leaders to discuss next steps on energy, Ukraine") is to tailor messaging to each customer segment. In this way, the [needs of individual customers can be better served and objectives](https://www.financedigest.com/why-coding-needs-to-be-re-evaluated-for-sustainability-objectives.html "Why coding needs to be re-evaluated for sustainability objectives") more easily achieved – creating further savings. _Find Go Inspire’s report,_ _Enquiries Down: A study on reducing call volumes with information redesign in the UK financial services sector_ _,_ [_here_](https://www.goinspire.co.uk/whitepapers/information-re-design-study/) _._ --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---