How to Achieve Regulatory Compliance With Speech Analytics
Since regulation standards are on rise and the need for compliance management system has increased, compliance has become a vital aspect to all call centers. Not only do security measures have to be analyzed through a microscopic lens, but agents must also stay up-to-date on training to ensure all conversations are compliant.
Speech analytics software records 100% of phone conversations allowing call centers a safeguard against compliance risks. These calls are monitored and analyzed for the set criteria of keywords or phrases that are previously established by the call center manager. To limit likelihood of a compliance error and reduce the risk of fines, optimize speech analytics through these three methods.
1. Monitor Every Call
Every call must be monitored to mitigate compliance risks. To do so, speech analytics software listens to every conversation for specific keywords and phrases that could risk a compliance misstep. If these words are used, the software will automatically flag the conversation to be reviewed.
To further guarantee that the compliance error is addressed, leadership is notified of the flagged call in real time so that corrective action can be taken quickly.
2. Score to All Calls
Since all calls are monitored for keywords, phrases, silence, and inflections of voice, it is important to measure the effectiveness of each call according to these standards. With speech analytics, after each call is complete, a score metric is assigned to each call in accordance to how well an agent aligned with the set criteria.
At the end of the call, agents have instant access to their personalized scorecard which identifies key areas for improvement as well as success.
3. Keep Agent Training Standards Current
Whether a call center consists of 5 or 50 agents, keeping employees up-to-date on compliance standards is critical. When specific keywords are mentioned on a call that put a call center at risk for lack of compliance, managers will receive a notification instantly through the speech analytics software.
These notifications allow managers to review the call in a timely manner and assess which areas need training intervention. Since each agent will not have the same scorecard, training can be conducted in a personalized fashion in order to quickly remedy the areas of concern.