Call recording software enables you to record telephone conversations either over a PSTN (Public Switched Telephone Network) or VoIP (Voice over IP) in a digital audio file format. It also provides you with the ability to retrieve, playback, store and share call recordings.
Call recording software should not be confused with call monitoring technology such as call logging (gathering, evaluating and reporting technical and statistical facts about calls) and call tracking (recording information about incoming calls). Its sole purpose is to record the phone conversation taking place between individuals.
The technology is typically easy to deploy and can be working within a matter of minutes.
What is the purpose of call recording?
Companies or individuals buy call recording systems for different reasons depending on their unique requirements or industry needs. For example,
- In Contact Centres call recording can assist with service quality monitoring, training and dispute resolutions.
- In a Bank or Trading Floor, call recording can assists with fact verification, dispute resolution and helps firms meet compliance regulations.
- In General Businesses, call recording can be used for training and coaching of staff to help improve sales efforts and
- In Government and public safety, organisations can use it to record mission-critical incidents
Once conversations are recorded, organisations can easily retrieve, playback and categorise recordings based on a number of different criteria including time and date of calls, duration of calls or who took the call.
What are the benefits of Call Recording?
Call recording can deliver a number of different benefits for any organisation, such as:
- Compliance/Regulatory Requirements. It may be a ‘grudge’ purchase when implementing call recording for compliance purposes, however, it’s critical for your brand to keep within the law and the reputation of your business must be protected. Compliance is higher up on the agenda in some industries, but whether you’re running a trading floor, bank, insurance company or public service organisation, being able to record your contact centre calls in a compliant manner is essential. You will need to comply to standards such as Payment Card Industry Data Security Standard (PCI DSS), MiFID II, GDPR or FCA.
- Training & Development. When you dial into a call centre, the message announcing ‘all our calls are recorded for training and quality purposes’ is something that is familiar to most. This tool has become invaluable in training, whether it’s used for new agents or existing agents to improve on their skills and understand where knowledge is lacking. By listening to calls with your agents and team leaders you can pinpoint positive and negative interactions and identify areas for improvement. You can also ascertain whether your agents are adhering to company policies and compliance issues. Analysis of these calls is even more invaluable however we’ll go into further details later on this blog when we talk about Interaction Analytics.
- Boost sales conversions. Call recording can be used to identify the selling techniques which are working well as well as those which are not, as well as what products are likely to upsell and so on.
- Dispute Resolution. When there is a client dispute, you can’t rely on ‘she said, he said’ scenarios. If you record your calls from start to finish, having a full history will make it so much easier to clarify any issues and take appropriate action. This is particularly important if the Regulator comes knocking, having irrefutable and documented evidence will ensure disputes are resolved quickly and legally.
- Capture the finer details. A big part of providing great customer service is making customers feel like they are truly being heard. With call recording, you can avoid laborious note-taking, and give customers your full attention, by being able to replay the call back at a later date.
What is the best Call Recording solution?
There are a number of call recording solutions available on the market. The right call recording solutions will largely depend on your business requirements – i.e. the number of users you need to record, if you need an on-premise, hosted or cloud solutions, if there are any specific business issues that need to be addressed and your available budget.
To find out what solution is best for your business – Get in touch for a free consultation.