Voice will always be a powerful data set for organisations. Voice conveys context, emotion and sentiment providing you with actionable intelligence. Voice is powerful. However, IT leaders could be missing a trick when it comes to this, as not all organisations are recording every interaction and for some the majority of voice data, is not easily accessible.
Collecting voice data is half the battle. Tapping into insights which voice data can provide you with is a whole other beast. According to a *recent survey, a staggering 92 per cent of organisations are capturing voice data but are doing little to make use of it.
Here’s a crash course into how you can start enhancing the use of voice data in your organisation.
Isleworth, July 30, 2019 – Business Systems, a leader in voice recording and enterprise workforce optimisation solutions, has been named as a supplier on Crown Commercial Service’s (CCS) G-Cloud 11 framework for Cloud Software. Customers can access the framework and choose Cloud Software technologies such as: Workforce Optimisation, Robotic Process Automation, Video Conferencing, Video Management, Digital Interviewing, Mobile Call Recording and Call Recording & Retrieval.
Call data legacy migration consists of moving your recording data from one place to another in order to be able to access it beyond what the system allows.
Under what circumstances will a company need to look at call data legacy migration?
Many organisations will have call recordings spanning decades and accessibility isn’t that simple. So under what circumstances would an organisation need to consider call data legacy migration?
- Call recording systems reaching end-of-life:
Manufacturers announce a product is now end-of-life and therefore no longer supported. A timely example is Windows 2008 which will no longer be supported from January 2020.
- Undergoing a voice recording refresh project:
This is likely to occur when new regulations come into effect requiring longer retention periods or if an organisation is no longer satisfied with its current infrastructure
- Normalising a legacy environment:
Having all recording data in one place
- Reducing end of life support cost:
Support for legacy systems is significantly higher than for live systems as the risks associated also increase. Reducing or eliminating legacy infrastructures can significantly reduce support costs.
- Improving ability to manage legacy data:
Finding recordings located in multiple systems can be extremely time-consuming. Moving all data into one location will not only save time and reduce operational costs when searching for a specific recording, it will also provide more comprehensive business intelligence.
- IT driver:
Allow compliance to self-service when they need to find specific calls. Saving time and resources.
Having the right workflow and workforce management capabilities in place can significantly improve your business performance and productivity in the back office, especially when combined together.
Workflow consists of orchestrated and repeatable patterns of business activity, whereas workforce management is an institutional process that maximises resource performance and competency for an organisation.
Workforce management takes care of your people (or robots) and aims to improve productivity and performance from the human perspective by placing the correctly skilled people in the right place at the right time.
Workflow manages your processes and projects, it improves productivity from the perspective of the work itself by defining tasks, splitting them into manageable chunks, and allocating them to individuals and teams.
- Workforce – deals with your people
- Workflow – deals with your work and processes
When the two capabilities are implemented harmoniously, the effect can be truly transformative for a business, which can be achieved with a tool like OPX.
OPX was specifically developed to transform back office operations and streamline the integration with front office processes. It supports the end-to-end processes from the digital capture of incoming work to smart work allocation based on the priority of the task and the skills of available agents.
With the introduction of MiFID II back in January last year and with regulations set to increase and become more burdensome, Financial organisations are faced with constant challenges around managing and accessing their call recording data.
Organisations need to be able to demonstrate immutable records of all their dealings and be able to retrieve these communications with precision and speed in the event of an audit or investigation.
It’s not just one or two issues that need to be managed – there’s a whole raft of challenges that at first glance can seem overwhelming. Faced with infrastructure complexity and records spanning decades, accessibility isn’t that simple and easy.
Obstacles getting in the way
Humanise the workplace series – Part 4
Ask any contact centre manager and they will agree that keeping their agents continually motivated, (in particular those with a longer tenure) throughout the year can be a challenge. These days, agents are dealing with surges in call volumes, changing technologies, increasingly complex customer cases across multiple channel touchpoints and last but not least, the aspiration to be appreciated and acknowledged in the work environment for all of their hard work.
As a result, agents can lose morale if they feel there is no overall incentive to stay. Ensuring your staff are engaged is vital to the success of any contact centre. Happier staff means happier customers. So where do you start? And how can Gamification help?
Ethical conduct has become a high priority in financial services. Following a series of high profile scandals ranging from the mis-selling of PPI to the 2008 global banking crisis. Authorities the world over have demanded greater transparency and greater accountability in the industry to curb the worst excesses.
In Europe, recently introduced regulations like MiFID II and GDPR have created obligations on banks, insurance companies, accountancy firms, financial advisers and others to beef up their internal reporting and monitoring mechanisms so they can demonstrate compliance with statutory standards. More generally, bodies like the UK’s FCA have pursued policies of reducing conduct risk, demanding that organisations under their remit proactively pursue better, fairer outcomes for customers.
In practice, this has put the onus on how service providers monitor and manage behaviours across their own organisations. The first challenge of the conduct risk agenda is that businesses must have complete visibility on quality assurance (QA) and service level metrics, for both front and back office, and must be able to streamline and coordinate oversight to ensure compliance.
Trust and credibility are central to the success of financial services organisations. Product mis-selling or unauthorised trading can destroy public trust and an organisation’s reputation overnight, not to mention dramatically denting its bottom line. To diminish the chances of such events actually happening, financial organisations must keep robust, thorough and immutable records of all their dealings and communications. Any voice recordings must be simple to find and easy to play back in the event of an audit or investigation.
This is an enormous challenge in itself for any organisation. Financial services organisations have amassed various solutions over time utilising very different call capture protocols, leaving them with disjointed data silos and records that are problematic to access.
The rest of this article can be found exclusively on the Finance Derivative website. Check out the rest of the article – ‘Managing Communications Compliance in a Litigious World‘.
Series 7 – 10 Things to Expect from Robotic Process Automation
Welcome to Part 7, the last in the series of – ‘An Insider’s Guide to Robotic Process Automation’.
Here are 10 things to expect from Robotic Process Automation in 2019:
1. Cost of Errors to Decline
Humans make mistakes. And some of these mistakes can be costly. Mistakes can also be costly to customer satisfaction and the organisations reputation. Robots on the other hand, do not make the same mistakes human do.
Robots might get thrown off by an exception in one of your processes or be triggered by a slow connectivity problem, but exception handling (presents the exception to the human employee for handling, fixing or decision making) will help minimise the impact.
From the beginning of time, organisations around the world have been dealing with the important challenge of driving growth whilst keeping costs down and customers happy.
However, we live in a time where customer’s expectations and demands continue to exponentially grow whilst customer loyalty disappears. Not only do organisations need to work hard to get new customers, they need to work even harder to retain existing ones.
Expectations around how service is delivered are changing. Increasingly, the old-style agent is not where customers expect to find answers to queries and solutions to problems, preferring instead self-help, peer-led and automated options. In the digital age, there are important questions for businesses to ask themselves about the nature of service provision, and where responsibility for it should lie within their organisation.