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Benchmarking study confirms AI reduces IT Support costs by 25% and slashes resolution times

 

  • DeepCoding AI-led autonomous optimization platforms is a magic bullet for enterprise CIOs to counter explosion in demand amidst IT budget cuts
  • New research shows an Economic benefit of 10X in cost of ownership savings and 100X in soft dollar productivity enhancements

17 March 2021:  DeepCoding today released an economic impact study by MetricNet, the leading Benchmarking firm, that confirms that its AI-led ITSM autonomous optimization technology significantly reduces costs while enhancing efficiency and customer satisfaction.

The analysis based on Global 2000 companies results in different markets demonstrates that DeepCoding’s strategic insights combined with AI-based autonomous optimization capabilities, optimize ticket routing, reduces ticket volumes, resolve problems more rapidly, decreases total cost of ownership, and dramatically improves the customer experience.

The analysis confirms that DeepCoding produces an economic benefit to enterprises that is greater than 10 times the cost of the platform in hard dollar cost savings and more than 100 times in monetized productivity savings. Additionally, it found that in case study companies in various vertical such as insurance, retail, financial services, and managed IT services, DeepCoding’s technology led to the following average improvements:

DeepCoding’s technology has been recognized by leading global management consulting firms and Global 2000 enterprises. Most recently, the company was selected from more than 70 high-growth startups to be part of the first cohort of the Deloitte Launchpad – a program that helps Israeli growth-stage startups to expand their operations in the US.

 

Sebastien Adjiman, Founder and Chief Executive of DeepCoding, said: “In the face of the COVID pandemic, the enterprise IT Service Management (ITSM) sector has seen a significant increase in cost and ticket handle time that has resulted in an unprecedented decline in employee satisfaction with IT. It is absolutely vital that the industry responds to this wake-up call, as a failure to act could have a catastrophic impact on both internal and external customer satisfaction.

 

“DeepCoding’s transformational AI solution can be implemented within weeks to drastically improve the employee digital experience, reduce the time to resolve IT incidents, and slash IT costs. The technology provides CIOs and CTOs with the ammunition required to support the digital transformation of their businesses and become first movers in the economic recovery. Now is the time to act.”

DeepCoding’s AI platform leverages a unique and proprietary blend of technology that combines Natural Language Processing, Business Process Mining, Unsupervised Machine Learning, and Pattern Recognition technologies to autonomously optimize large ITSM organization by connecting to existing ITSM delivery tools (Such as ServiceNow, BMC, CA, Jira, etc.)

Recent DeepCoding analysis released last month found that ITSM teams have struggled to scale and maintain the quality during the COVID pandemic. The issue has been exacerbated by technician absenteeism, budget cuts and lack of new investment to confront the corresponding explosion in demand. These conditions have caused customer satisfaction levels to plummet. Despite these formidable challenges, DeepCoding has delivered impressive results for its clients during the pandemic, deploying AI to improve speed of resolution, quality and reduce costs.

DeepCoding offers corporations the opportunity to run a Return On Investment simulation via its website at www.deepcoding.ai

About the data:

MetricNet conducted its research on static data sets that were extracted from the most common IT support tools used by Global 2000 corporations. These raw data dumps contained as many as 400 separate data fields, a minimum of 18 months of data, and in some cases up to 36 months of data.

MetricNet ran DeepCoding on successive one-month blocks of data and observed the impact that DeepCoding had on several important KPIs including:

  • Tickets per User per Month
  • Customer Satisfaction
  • Mean Time to Resolve
  • First Contact Resolution Rate
  • First Level Resolution Rate
  • Ticket Backlog
  • Ticket Hops
  • Total Cost of Ownership
  • Cost per Ticket

The time series allowed MetricNet to determine whether DeepCoding produced a one-time benefit for ITSM, or continuous improvement as one would expect from an AI tool powered by machine learning.

MetricNet has a global benchmarking database of more than 4,000 ITSMs.

About DeepCoding:

DeepCoding empowers enterprise IT leaders with a cutting-edge AI-powered platform that enables them to optimize and automate their ITSM operations autonomously, turning it into a core digital transformation engine for the entire organization.

The DeepCoding’s autonomous ITSM agnostic optimization platform seamlessly integrates with existing enterprise ITSM tools and harnesses the power of AI to allow enterprise IT service managers to significantly improve the efficiency, productivity, and performance of their teams, processes, and technology.

The platform’s core cognitive engines enable smart real-time autonomous ticket routing while dynamically taking into consideration multiple parameters such as process bottlenecks, agent workload and skill sets, costs, and more. DeepCoding also provide leaders with actionable strategic insights such as recurring incidents, inefficient processes, automation and training opportunities.

Backed by StageOne Venture and prestigious angels, DeepCoding is headquartered in Israel with regional offices in the UK and US. DeepCoding’s smart ITSM optimization technology is trusted by Global 2000 enterprises.

Further information is available at www.deepcoding.ai

 

 

 

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TechnologyReseller: 2021