According to the Financial Services Authority (FSA), all companies that they regulate are being asked to incorporate the ‘Treating Customers Fairly’ (TCF) principle into their business by 2007.
Bonnie Church, Marketing Director at Commsoft says this means that resellers who sell to finance and insurance sectors can use this opportunity to sell in products such as call recording and reporting tools.
“Commsoft have seen a large upturn in sales to FSA regulated companies, who need to comply with recent and future legislation. The FSA has given firms that have failed to make satisfactory progress in integrating the TCF into their business until March 2007 to demonstrate that they are taking the initiative seriously.”
Church adds that the FSA aims to improve the customer experience and whilst they are not specific about how their members achieve this, the logical products that will assist them are call recording and communications reporting tools.
“Call recording provides an indisputable record of who said what in any conversation that takes place between finance or insurance provider and customer. Call management, e-mail and internet monitoring solutions allow managers to monitor staff throughout their working day.
The reporting element of most voice recorders is very weak but Voicemaster has CommsOffice built in, so it is easy to find a call record and at the click of a mouse, the manager has instant call retrieval and playback. The CommsOffice element shows live ACD call statistics and a scrolling desktop wallboard which runs across the screen no matter what application they are in. This enables managers to view agent activity at a glance. At the same time, voice recording allows analysis of call content for quality and training purposes.”
Church concludes, “One reseller in the North sent out a direct mail letter, offering Voicemaster with the CommsOffice built in, to his database of finance and insurance companies and was astonished to receive numerous requests for prices and demos the day after the mailer hit the desks. We assist resellers with the composition of mailers and all they have to do is send them out, we then assist with demos and meetings with the prospect and all the reseller has to do is close the deal – which is easy when they are offering this unique range of features at this price.”