All blog posts

With regulators across different markets demanding for increased trade transparency and longer retention periods for call recordings; how can financial firms keep on top of their call recording estate? Not to state the obvious but, it won’t be long before MiFID II comes into effect in January 2018. It’s practically Christmas already. Data sits at the heart of these regulations. MiFID II aims to improve quality of advice and investor protections, and in doing so requires extensive data recording. Call...

Resilient plc and Business Systems have announced a strategic partnership to enable compliance with both GDPR and MiFID ll compliance solutions.These forthcoming regulations, due to come into UK law in January 2018 and May 2018 respectively, place great demands on organisations that need to record their business telephone calls, with significant penalties for firms that are non-compliant.The challenge these regulations place on businesses is that, in many respects, they appear to make competing demands. For example:Under MiFID II, firms need to...

This year, we have teamed up once again with The Forum to find out if and how contact centres in the UK have improved in streamlining their Quality Monitoring. With the help of our expert ‘Quality Management and Training consultant’ - Brent Bischoff, we’ve handpicked a selection of some of the most interesting results drawn from our annual survey – ‘The State of Quality Monitoring – 2017'. The most surprising result from this graph is that contact centres are failing...

Business Systems’ Tim Thurston explains how Interaction Analytics can be used to help comply with the ever tightening regulations within the financial services Industry. Why is the adoption of Interaction Analytics gaining momentum within financial services? In an effort to comply with the ever tightening regulations such as MiFID II, MAR and many others, Financial Institutions have re-focused their efforts on expanding their compliance teams as well as investigating already established technologies to help them on their compliance journey. One...

Our latest webinar, Bringing Quality Monitoring into the heart of the Contact Center, was packed with an array of knowledge and best practice techniques on the topic of quality monitoring (QM). On the back of this, here is a bite-sized version of the most valuable takeaways from the day. Refining the QM Performance Cycle Step 1: Analyse/Evaluate The QM performance cycle is something most contact centers will be familiar with. However, most contact centers are failing at step 1. According...

It is no secret that as a contact centre manager you have to be an expert at doing more with less and prioritising your goals as you go along. This usually means keeping your main focus on front office performance and excellent customer service. However, more often than not this can leave the back office, a vital branch of the operational family, at a disadvantage. Fortunately, the same workforce management (WFM) solution which helps keep your front line in check...

As business environments become more competitive, the importance of Gamification and team performance for organisational success increases significantly. NICE Performance Management provides a single source of truth for employee performance data and goals.  In addition, it provides targeted coaching and gamification to motivate the right action. Contact centre gamification is the implementation of game like mechanics in order to influence behaviour and activities. It is used to motivate and engage employees. Contact centre representatives are encouraged to complete objectives and...

Following the recent strain of the WannaCry ransomware attack, experts have cautioned that the best protection for systems running the Microsoft Windows operating system, is to have downloaded a patch issued by Microsoft in March. 1. What if my server is no longer supported by Windows?  If your system is no longer supported by Microsoft (this includes Windows XP, and 2003) then this means your system is extremely vulnerable to hackers. In the voice recording world, a similar cyberattack could...

When trying to meet and improve service level agreements, reviewing agents’ performance and providing adequate agent training is imperative for success. Unfortunately, making time for training doesn’t always seem possible. Contact centers are notorious for being extremely busy and agent time is closely monitored to ensure that customers’ calls are promptly answered. There are a few things that you can start implementing immediately to help meet training needs while investing less time and effort and improving your outcomes... The rest...

Working in a law firm means you probably take a lot of important calls on any given day, but if you really needed to, could you recount every call you have received and every detail discussed during these calls? Whether you need to record for note-taking, dispute resolution, regulatory compliance or training, call recording can benefit your firm. Here are 3 ways how: 1. Avoid loss of information When talking to clients, it is vital to actively listen and note...

Compliance Project of the Year was another closely fought category at this year’s event, with the judges opting to award the win to Business Systems for its Vocal Wordwatch solution. Financial institutions today are facing tightening national and international regulatory requirements, as government authorities collaborate to uncover suspicious trading activities. One of the most important requirements for financial institutions is the archiving, storage and replay of telephony, radio and turret recordings for set amounts of time, which can be up...

Cloud versus on premise. That familiar on-going battle. As a contact centre professional, which one do you choose, particularly when scoping out your requirements for a Workforce Management solution? In a nutshell, there a number of benefits a cloud workforce management solution can deliver in comparison to an on premise. On the other hand, an on-premise solution is more suitable for those complex and tricky installations, allowing you to customise as you see fit. Both deployments come equipped with their...