Calculate Savings

IVR Ready Reckoner

Number of staff dedicated to payment handling

Bear in mind that an IVR is open 24 hours per day, 7 days a week, including Bank Holidays!

Number of hours per day payment handling is open

IVR Annual Cost	£
Initial set-up fee	1500
Minimum monthly service fee (£495 x 12) ***	5,940
	7,440

Customer Payment Fees	£
Staff salary costs	52,053	*
Staff employers' National Insurance	3,462	**
	55,514

% IVR Saving

87%

* Assumes a salary rate equal to the Minimum Wage directive effective 1/10/2008

** Assumes National Insurance rates effective 5/4/2008

*** The IVR is a commission based service with a minimum usage of 5000 minutes per month at the current rate of 2.2p per minute, paid monthly

Note:

Bank processing charges, merchant account charges, telephone line rentals and telephone call charges are all assumed to be at consistent rates whether the IVR or Customer's own payment solutions are used.