White House Starts 'Time Is Money' Initiative to Improve Customer Service
The White House has launched Time Is Money, a multi-agency initiative to stop the time-consuming practices, including excessive paperwork, long hold times, and other bureaucratic hurdles, that companies often impose in their customer interactions.
"Americans are tired of feeling like the're being taken advantage of," White House officials noted in a fact sheet about the initiative.
These customer experience time-wasters include lengthy hold times for customer service, convoluted processes for canceling subscriptions, and the hoops consumers must jump through to get refunds or rebates, it said.
Key actions under the Time Is Money initiative include the following:
- The Federal Trade Commission (FTC) has proposed a rule requiring businesses to make it as easy to cancel subscriptions as it is to sign up.
- Under a new rule from the Department of Transportation, airlines will be required to issue automatic refunds when flights are canceled or significantly changed.
- The Departments of Health and Human Services and Labor are urging health insurers to allow consumers to submit claims online.
- The Consumer Financial Protection Bureau and the Federal Communications Commission are taking steps to ensure that consumers can reach a live customer service representative without being stuck in an endless loop of automated prompts.
- The FTC is developing rules to prevent companies from using fake or misleading reviews to deceive consumers
- The CFPB plans to issue guidelines to address unhelpful chatbots in customer service, ensuring that consumers can access real assistance when needed.
"Time is one of our most valuable resources," Biden administration officials noted. "Through this initiative, we're working to ensure that Americans can spend more of their time on what matters most to them rather than navigating unnecessary corporate obstacles."
And while customers will likely welcome the initiative, customer experience leaders warn that compliance with some of the proposed actions might not be easy for businesses. Nonetheless, they also point out that it is in businesses' best interests to uphold the requirements.
Mario Matulich, president of Customer Management Practice (CMP), notes that "as the FTC moves to finalize new rules on subscription cancellations, businesses must recognize that simplicity and transparency are no longer just competitive advantages, they're regulatory imperatives."
Making the cancellation process as straightforward as the sign-up doesn't just mean fewer clicks; it means eliminating the frustration that drives customers away, he adds.
Michelle Tilton, vice president of marketing at Gryphon.ai, agrees that the cancellations regulation could be complicated. "It sounds simple in theory to enable customers to unsubscribe in one click without receiving additional pop-ups asking if they're certain they want to cancel. In actuality, the process to remove customers from subscription lists is not always as simple as one click, as it may take several back-end integrations to ensure records remain updated in real time," she says.
But, "companies that proactively refine their cancellation pathways will not only comply with the regulations but also build trust that can turn a potential churn event into an opportunity for re-engagement," Matulich adds.
He and Tilton also take issue with some of the other stipulations, which also might not be so easy for businesses to orchestrate.
"The 'doom loop' of endless automated prompts is a symptom of a broader issue: the undervaluing of direct human interaction in customer service,"Matulich says. "Businesses must shift their focus from cost-cutting measures to value creation through meaningful customer engagements."
Tilton agrees, pointing out that "the right to speak to human agents could overburden call centers, ultimately impacting consumer costs. We all know that customers want fast and efficient service. Sometimes, it's easier to discuss an issue with a person over the phone rather than having back-and-forth conversations with an AI-powered chatbot. However, this policy may lead to a surge in customer requests, overwhelming agents, elongating the customer support process, and putting a strain on call center operations. This could ultimately increase overall operating costs, leading to increased consumer costs," she says.
CX leaders will need to integrate technology like conversation intelligence to empower agents with crucial insights to help expedite an influx of customer calls.
But, at the same time, Matulich maintains that “by reducing reliance on automated systems and empowering customer service agents with the tools and authority to resolve issues on the spot, companies can transform these interactions from frustrating experiences into moments of genuine connection. This shift isn't just good for compliance, it's good for business."
Technology, Matulich continues, "should serve as an enabler of exceptional customer experiences, not a barrier. The future of CX lies in the strategic integration of AI and other advanced tools to enhance, not replace, human interactions. Companies that can harness technology to deliver personalized, efficient, and empathetic service will not only meet the new regulatory standards but will also set a new benchmark for customer satisfaction. The goal is to create a seamless experience where technology and human touchpoints work in harmony to exceed customer expectations in every interaction."
And the time is now, Tilton agrees.
"Businesses should not wait to deliver on these customer expectations. It will take time to set up adaptive processes, consult with knowledgeable experts, and adjust to the shifts in the customer service landscape. However, as long as leaders prioritize CX in their business strategies, they'll enable more personalized and satisfactory experiences that drive long-term success," she concludes.