Today, 100 percent of Fortune 500 businesses recording customer interactions and over 50 percent of small to medium sized businesses do the same. The process of capturing phone, chat, and video-based communication can provide significant value to a business in many forms, including monitoring agent performance, verifying orders, solving disputes and maintaining compliance (HIPAA, PCI, MIFID II, GDPR…). However, unlike other mission critical applications within an organization, call recording systems almost always rely on human detection of system failure.
What happens when your recording solution stops recording without you knowing it? For some businesses who rely heavily on recorded customer interactions to address the issues above, any down time can have ripple effects down the road. Let’s say for instance your recording system was down for even three minutes. Your IT team may not even notice. BUT, what happens when a costly dispute arises over a particular customer’s order and you aren’t able to access the recording because it occurred during those three minutes? Similarly, what would you do if the government imposes a fine on your business for some compliance infraction, which you can’t disprove with the recorded call because it too occurred during those three minutes?
When other important systems fail, there is usually some workaround to recapture any lost data. Take CRM, for instance. If a salesperson is unable to enter certain customer data because the software is down, he/she can merely store their notes on their PC for later entry. With a business intelligence solution, business analysts can simply wait for it to come back online to garner the intelligence they seek. Or with speech analytics software, supervisors can always go back and listen through every word of every interaction. It would be painful, but it can be done.
What do you do when the recording system fails and that live customer interaction is not captured? There is no going back. There is no workaround. The discussion terminated and cannot ever be recaptured. Think about that for a second. When relied upon for mission-critical value, a call recording system must work. When it doesn’t, the company leaves itself quite vulnerable on various fronts, which can result in heavy fines, lost customers, unavoidable refunds and so on. This is real monetary impact stuff. Something needs to change and every business we speak to isn’t even thinking about this all-important issue.