Ensure adherence to call center regulations with speech analytics
Ensuring compliance to the long list of call center regulations out there can be challenging for many call centers, particularly for Business Process Outsourcers (BPOs). The costly consequences for non-compliance makes regulation adherence a big priority for most large call centers and a common use case for the TETHR PLATFORM.
The following example outlines how a large BPO came to Tethr with the goal of drastically reducing regulatory fines by improving their agents’ adherence to call center regulations:
A BPO doing collections calls on behalf of a financial services client needed to reduce over $360,000 annual cost of fines resulting from agents’ non-compliance to federal regulations. They focused on the largest two fine areas: 1) when agents did not state the MINI-MIRANDA DISCLOSURE when talking to a Right Party Contact (RPC), and 2) when agents failed to notate in the Customer Relationship Management (CRM) system when a customer requested they “cease and desist” future calls.
Before Tethr, the BPO had no way of tracking how often agents failed to deliver the Mini-Miranda disclosure when required, nor how often agents failed to document “cease and desist” requests to prevent unwelcome future calls. Since they were unable to measure frequency or identify which agents were making these mistakes, they could not effectively coach their agents to improve the level of the regulatory compliance.
Since the Tethr installation, the BPO now detects 100% of occurrences in both situations. Accurate and automatic identification of each “cease and desist” request enables the BPO to easily audit the CRM and to modify incorrect notations before any future unwanted calls occur.
Results and dashboards were created from the aggregated call data for each level of management (VP, Director, Supervisor, and Agent) so that they can manage their teams and hold them accountable for the desired reductions in cost. The results were dramatic:
- The overall volume of Mini-Miranda disclosure defects dropped by 50% in a 90 day period.
- Inadvertent repeat calls to people who requested a “cease and desist” dropped to nearly 0.
- Agents were able to make 0.9% more collections calls because they weren’t wasting time calling people who request a “cease and desist.”
- The amount spent on regulatory fines were reduced drastically.
Based on these initial successes in adhering to call center regulations, this BPO is now targeting other areas for performance improvement using Tethr’s insight and reporting abilities.
Want to learn more about using Tethr to track and minimize compliance defects? CONTACT US TO REQUEST A DEMO.