A major challenge of debt collection organizations is determining which calls to monitor in order to identify potential issues before they escalate, especially meeting critical compliance requirements.
Of all the useful contact center technologies available today, one of the most valuable I’ve seen in addressing this challenge is real-time speech analytics.
The following are three ways that speech analytics can help improve your debt collection efforts and reduce compliance violations.
The ability to identify when debt collectors break the rules. Regulatory compliance is a well-defined problem. Analyzing call recording with speech analytics is an effective way to identify compliance violations. In [...]
During several of the tradeshows we participated in during the first half of this year, I conducted my own informal (albeit, non-scientific) survey of the state of the accounts receivable management (ARM) industry. In essence, I talked with attendees about their plans for the remainder of the year. And without exception the response I received was that they expected to grow – grow their number of employees, expand into complementary businesses and/or purchase new equipment and solutions.
And now these first several months have shown continued economic improvements on a macro level, and I’m wondering if we’re now finally at [...]
Guest post by Nancy Jamison, President and Principal Analyst, Jamison Consulting
Accounts Receivable Management (ARM) is a complex vertical that’s greatly benefitted from technologies such as blended dialing, call recording, and content management. With the economic downturn and an increasingly complex regulatory environment, the ARM industry is facing both new challenges and new opportunities. To get more insight into today’s ARM landscape I turned to two debt collection technology experts at unified IP business communications solutions provider, Interactive Intelligence: Bobbi Chester, solutions marketing manager for ARM, and Mark LaBoyteaux, manager of strategic accounts for ARM.
NJ: Accounts receivable management [...]
As the marketing person who supports our Accounts Receivable Management (aka, collections) vertical, I’ve been working recently with several industry experts on our latest white paper, The Future of Compliance for the Debt Collection Industry. One of the topics we’re covering is "Collecting from the New Unemployed," and it strikes me as an especially poignant topic that, for the most part, has flown under the radar during the Great Recession we’re collectively recovering from — or that we’re hopefully recovering from – your mileage may vary as to how “recovered” you feel.
The most recent report from the Bureau of Labor [...]