Telecommunications expert and CEO of Captivate Connect, Mark Horwood, talks us through why all business owners should record their phone calls with customers.
State-of-the-art technology is revolutionising the telecommunications industry and offers business owners a valuable opportunity to improve accountability, productivity and customer satisfaction.
Telecommunications expert Mark Horwood said business owners, staff and customers should embrace having their calls recorded because everyone benefits.
“Recording phone calls isn’t ‘big brother’ listening, it’s more about protecting all parties,” said Mr Horwood.
“Call recordings should not be viewed with mistrust and fear if they are implemented for positive and productive purposes,” he said.
Why business owners should record phone conversations
- It encourages accountability – knowing they are being recorded improves the professionalism and integrity of staff and customers.
- It improves communication – staff are able to listen to the conversation again and gain a better understanding of the customer’s needs.
- It enhances compliance – maintaining a database of recorded calls helps compliance with legal, industry and service-level guidelines.
- It improves efficiency – training and development feedback ensures staff are best meeting the needs of customers.
New cloud-based recording technology provides business owners with valuable insights into their most important resources: customers and staff.
Mr Horwood said an exciting development of the new technology was it catered for a remote workforce, allowing calls to be easily recorded on mobile phones.
“Algorithms from this cutting-edge technology provide business owners with information about customer engagement and experience – there is even a happiness rating,” said Mr Horwood.
“Managers will know if a staff member needs more training and will receive alerts if there is a compliance risk.”
Mr Horwood said many businesses are adopting the new cloud-based recording service.
“The benefits of businesses recording phone calls has been recognised by the Federal Government because it provides evidence and encourages compliance,” said Mr Horwood.
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“Australia’s 6000 mortgage brokers are the latest to be ordered to keep records of their conversations with customers after legislation was recently passed in Parliament,” he said.
“The directive was in response to the 2019 final report by the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.”
Mr Horwood said he expects all brokers and salespeople in the financial industry will soon have to record their conversations with customers.
“It could also be extended to financial advisers, real estate agents and accountants,” said Mr Horwood.
“The Royal Commission received more than 10,000 complaints about financial services and much of the misconduct and illegal practices uncovered stemmed from a company’s pursuit of profit and an individual’s pursuit of gain,” he said.
Mortgage brokers have until January next year to organise their recording devices.
In Australia it is legal to record phone conversations if all parties consent.
Mark Horwood is the chief executive officer of Captivate Connect. He believes call waiting is an opportunity for businesses to engage with customers and he offers solutions to improve customer satisfaction.
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