Risk Management & Compliance in the Contact Center: How Voice Data Can Help.

As well as consistently working to improve customer experience and maximize sales, contact centers today are faced with perhaps the most daunting challenge of all: remaining compliant with ever-changing rules and regulations and ensuring watertight data protection policies. The ramifications of failing to comply with data security regulations are severe, with the Ponemon Institute finding that in 2017, the average cost of a data breach came to a staggering $3.62 million.

In light of the recent passing of new data protection laws across several US states, the importance of data security cannot be understated. However, many organizations are experiencing a contradiction in operating their contact centers and navigating privacy regulations. Customers are becoming increasingly un-trusting when it comes to sharing their personal information with companies, with 81% of respondents in a Deloitte survey feeling as though they’ve lost control over the way their personal data is collected and used. At the same time, companies require this information to be able to offer customers the high-level personalized service that’s expected today. Companies revolve around data, which is essential for forecasting and optimizing operations for the highest results. So how are companies to navigate this contradictory business landscape?

The answer lies in speech analytics. A traditional contact center sees hundreds, if not thousands, of phone calls taking place each and every day. But, until recently, the industry standard for reviewing calls in a contact center came in at only around 1%. This means that out of the thousands of conversations occurring each month, only a select handful would be reviewed – and generally only if a pre-existing issue had been identified. Within call recordings, contact centers have a goldmine of data at their disposal that can help them identify potential compliance issues, conduct comprehensive QA reviews, mitigate risks, monitor agent performance and gauge customer satisfaction. The voice data gained from speech analytics allows organizations to tap into all of this data, which can then be categorized, patterned, and searched.

So, how does this relate to the issue of data security? Call Journey’s Emotive Voice Streams (EVS) AI-based speech engine transcribes audio recordings into text and provides a rich stream of metadata containing information about the conversation – all while automatically redacting sensitive information. The AI-powered engine can scrub recordings of sensitive information like social security numbers and credit card details. This way, if the system were to be hacked or accidentally exposed, there would be no sensitive data to leak.

In addition to monitoring conversations business-wide, EVS also has the power to quickly identify potential risks and drill down into problem calls. Supervisors can keep up to date with agent activity through an automated scorecard system, allowing them to identify and address issues immediately.

The partnership between AVDS and Call Journey gives AVDS customers access to Call Journey’s powerful speech analytics eco-system. Like AVDS, Call Journey solution is also available to customers within the Genesys environment offering a secure and efficient way of streamlining data discovery.

Want to find out more about how you can turn your contact center voice traffic into business value?  Contact AVDS today https://www.avds.com/contact-us/

Guest blog contributor:
Loucielle Esteve, Director of Marketing
Call Journey

@Genesys @CallJourney #Genesys #CallJourney #AVDS #PureCloud #PureConnect #eMite

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