How Can Companies Use CRM to Enforce Compliance Requirements?
By capturing contacts through customer interaction recording software's user-defined business rules, organizations can record, analyze, and report on specified types of contacts, as well as their adherence to compliance requirements.
Posted Jul 5, 2004
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CRM and customer interaction recording systems are playing more important roles now than ever before in the new world of compliance regulations. Many Global 2000 companies already leverage this technology to ensure they meet compliance obligations. Compliance parameters today are vast, ranging from government-sanctioned regulations (e.g, HIPAA, the Patriot Act, and Sarbanes-Oxley) to strict internal processes established within organizations, such as those designed for sales verification and fraud detection. Using customer interaction recording software to reliably capture specific types of agent/customer interactions from both voice and data/screen navigation perspectives in the front office (or call center), and a data/screen navigation perspective in the back office, such as those engaged in order fulfillment, billing, and claims processing, shows management how well employees understand procedures, and leverages the technology resources available to them to help meet these requirements. One of the more challenging aspects of compliance is that it is not confined to one area of the business. Compliance affects customer-facing activities, as well as functions taking place behind-the-scenes, in the back office, which is often overlooked as a part of the customer-service paradigm. The reality is, the back office can dramatically impact customer experiences: Is my ordered fulfilled correctly, is my bill accurate, and what's the status of my claim? That's why many companies are taking customer interaction recording into these environments as well, auditing processes to better understand the interdepartmental impact back-office functions have on customer service and satisfaction. By capturing contacts through customer interaction recording software's user-defined business rules, organizations can record, analyze, and report on specified types of contacts, as well as their adherence to compliance requirements. Users also can categorize and store customer interactions/transactions to verify requirements have been met. Further, they have the flexibility to determine what, when, where, and for how long recorded interactions/transactions are archived, which is especially critical in such industries as banking, healthcare, and insurance. For instance, one leading health insurance provider customized its staff performance evaluation form by incorporating HIPAA compliance mandates. If a representative does not complete all of the required verification attributes built into the form, he/she loses points on the entire section--signaling the need for additional coaching/training. Industries across the board feel the impact of today's compliance standards. Some businesses are more heavily governed with requirements to capture all customer interactions/transactions, where others are not. The Telemarketing Sales Rule established by the FCC requires organizations to capture and store inbound/outbound sales transactions for a minimum of two years. Financial institutions must store them for seven years. In the end, whether establishing practices around compliance to meet government mandates or adhere to internally established procedures, compliance impacts us all. Organizations that have supporting and enabling processes and technologies in place will be better equipped to adhere and meet compliance standards on a consistent basis. Customer service organizations without such a foundation run the risk of facing severe consequences. They also lose out on the ability to make their operations more streamlined and efficient. Customer interaction recording technology provides a comprehensive view of customer experiences, captures valuable business intelligence, gauges process efficiencies, provides insight into service quality, points to training/development needs and enables organizations to directly impact the bottom line. Today, customer interaction recording is more than a nice-to-have. It's an insurance policy, an intelligence tool, and a strong competitive differentiator that's helping companies worldwide drive their businesses forward.
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