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6 Practical Tips for Managing Virtual Call Center Agents

What are some ways that you, a virtual call center manager, can encourage your employees and agents to perform well? Agents who do their job well will bring more business to your remote contact center and therefore, it is important to keep them motivated and trained. Here are 6 tips to motivate your agents while executing your duties in the most effective manner.

How to Manage Remote Call Center Agents

Managing work-from-home call center agents can be tricky if you do not know where to start. A remote call center works through virtual agents and offices. And this lack of physical office location can prove difficult when it comes to monitoring agents and their interactions. However, there are tools and options available to make this process much easier for managers. Here we will look at the different methods you can try to motivate your agents, monitor their work, and train them to do better.

1. Set and Reiterate Goals

It is important to always be on the same page about the goals and standards of the company. As an agent, what is the agent’s ultimate goal and what steps do they need to take to reach these goals? Provide clear and easy-to-follow instructions and make yourself approachable for any questions or concerns that may arise. Refresh these goals in team meetings or group chats to keep it fresh.

2. Train and Retrain Your Employees

No matter how experienced an agent may be, it is always a good idea to have them go through a brief period of training. This may include refreshing the way certain things are done or running through new software together or doing some practice calls. You may even choose to listen in on a few calls to study how the agent handles themselves. On a similar note, conduct online workshops or group seminars to run through essential training as a refresher for existing agents.

3. Provide Helpful Training Materials

Besides workshops and training, give them access to sales webinars, software tutorials, textbooks, and classes that may help them improve their sales techniques or outbound calling strategies. Having access to these materials will help them stay in touch with the system and processes being used. It will also help them learn about new trends in sales and customer service.

H3: 4. Explain the Importance of Building Strong Customer Relationships

Since this is a virtual call center, efforts must be focused on building strong customer relationships. Therefore, it is important that your agents understand why and how they need to pursue this goal. Educate them on the value of having long-term and returning customers and how loyalty can impact customer retention rates. This information should motivate them positively and encourage them to provide stellar service. This will help improve CSAT scores.

5. Provide Agents with the Right Call Center Tools

Helping your call center agents also includes choosing the right call center software for your call center. Whether it is getting an outbound calling service with an easy-to-use dialer or an IVR system that distributes calls evenly so that no agents become overwhelmed. Having the right resources can make sure your agents are not overloaded with calls and are able to provide solid support.

6. Focus on Improving Quality Assurance

Consider using VoIP call recording to evaluate how agents interact with customers and callers. Here you can identify areas of improvement and highlight appropriate agent behavior. This can also be used for training purposes with the goal to improve virtual call center quality assurance.

Improve Your Virtual Call Center with Global Call Forwarding

Global Call Forwarding offers virtual call center tools such as IVR, outbound calling, call recording, and more. Learn more about our services by talking to an expert today!

How Much Does a Call Recording Service Cost?

Investing in a call recording service can be overwhelming if you don’t know where to start or what to look for. Here we discuss what such a service entails and we compare different providers so you can get a better understanding of how much call recording software can cost.

What is a Call Recording System?

First, what is call recording and why should your business consider this service? A call recording system gives you the ability to record, download, and review phone conversations. Businesses in almost every industry can make use of this service to:

  • Keep tabs on employee-customer interaction
  • Comply with industry regulations
  • Protect the business from liabilities
  • Provide training material to new employees
  • Increase quality assurance, and more
  • To learn more, check out our guide about the uses of call recording software for business.

Call Recording Device or Cloud-Based Service: Which is Better?

When deciding how to record business calls, you have two standard options:

  • A stand-alone recording device or
  • A cloud-based service integrated within your phone system

How do you decide between them to know which is the better option? Call recording devices are a good option if you want to record calls on one phone connected to your telephone line. To record multiple phones at a time, you will need multiple recording devices.

Recording devices start at $50. However, a good quality device with multi-functionality will prove more expensive. Plus, there is the installation and set-up process that may get complicated based on the type of device and phone system used.

If you are looking to record calls on multiple devices (phones, computers, mobiles, etc.), then a cloud-based model may prove more useful. You do not have to deal with hardware and maintenance as the call recording service is managed by a virtual phone service provider. Plus, it is integrated within your cloud telephony system. This way employees can record, download, and access recordings through the control panel instead of different devices. Everything is stored and available in one place.

Cost of a Call Recording Service

Here we look at 3 top call recording services and compare their prices, storage capabilities, and more.

*Note: Costs mentioned in this article are current at the time of publishing and may be subject to changes.

1. TollFreeForwarding.com
TollFreeForwarding has 4 different types of virtual phone number plans: Starter, Medium, Large, and High Volume. There are 2 types of plans under each section based on the number of calling minutes needed by the business. These plans start from $9/mo to $63/mo.

Their call recording service like most service providers has an additional cost of $7/mo + 3¢/min. They have 2 types of call recording plans: short-term (30-day storage) and long-term. The short-term plan lets you listen to and download calls online for 30 days. The long-term plan lets you store calls for more than 30 days at 3¢/min/mo.

2. Avoxi
Avoxi provides call center software and virtual communication tools to businesses across the world. They offer 6 different types of virtual number plans for businesses of varying sizes and needs. Their lowest plan is billed at $4.49/mo for 0 minutes while their most popular plan is billed at $25.99/mo for 2195 minutes. The highest plan goes up to $70.00/mo for 8976 minutes.

Avoxi offers call recording with their virtual number plans for an additional $6.99/number/min. This includes a free 30-day storage period. You can also get storage options for 60-, 90-, and 365-day periods. To get unlimited call recording storage, you will need to pay an additional $0.02/min/mo.

3. Global Call Forwarding

Global Call Forwarding is a virtual phone service provider offering local, toll free, and international numbers to businesses in more than 160 countries. Aside from that, we offer virtual communication services such as call recording, IVR, outbound calling, VoIP solutions, SIP trunking, and more to enhance and improve business communications.

We offer 5 different plans for businesses of different sizes and with different needs. Our plans are based on the amount of calling minutes required per month and additional services. The lowest plan begins at $7.95/mo for 100 minutes. Our most popular plan is billed at $78.95/mo for 2,100 minutes.

You can add our call recording service to your virtual number plan for an additional $3/mo + 2¢/min. This service comes with a default 30-day storage period for recorded calls and records 100% of all calls. However, once the service is activated, you can adjust the settings to suit your needs. You can change the percent of calls being recorded as well as increase the storage period for up to 6 years.

Ready to Get Call Recording?

Now that you have a better idea of the costs involved with a cloud-based call recording service, it is time to decide which to go ahead with. To learn more about Global Call Forwarding’s call recording software, call us at 1 (888) 908 6171 or chat with us online.

Understanding 0800 and 0808 Freephone Numbers in the UK

Whether you run a business in the UK or are looking to expand there, you will come in contact with 0800 and 0808 UK freephone numbers. In this article, we will discuss what these numbers are, how they work, and how they can benefit a business’s communication system.

UK Freephone Numbers

UK freephone numbers — also called UK toll free numbers and free call numbers — are telephone numbers with toll free service. These numbers begin with the prefix 800, 0800, 1-800, or 0808 followed by 7 digits. In 2015, 0800 and 0808 freephone numbers became universally free to call from landlines and mobile lines. Enterprises located in the United Kingdom or those conducting business in the country can make use of UK freephone numbers to enhance their business communications.

How do these toll free numbers work? Calls made to these numbers are charged to the receiver (the business) instead of the caller. Therefore, callers calling a business for customer support or product inquiries can call 0800 and 0808 freephone numbers for free.

  • Some common uses of 0800 and 0808 numbers are:
  • Sales and customer support lines for businesses
  • Government helplines
  • Charity hotlines

Benefits of UK Toll Free Numbers

So, why should your company get UK freephone numbers? With providers like Global Call Forwarding offering international toll free service, you can get a 0800 or 0808 freephone number even if your business is not located in the UK. Doing so helps you expand your business to this part of the world by establishing a nationwide presence.

When you get UK freephone numbers from a virtual phone service provider like Global Call Forwarding, you can:

  • Get mobile-accessible UK toll free numbers
  • Set up virtual communications with prospects and business partners in the UK
  • Customize and manage communications with your own VoIP phone system
  • Forward incoming calls to any number or line located anywhere in the world
  • Reduce international calling rates and save costs
  • Set up 24/7 customer service with IVR and call routing options
  • Add numbers for employees, departments, remote offices, etc
  • Encourage customers to call your business by providing a free and reliable way to connect
  • Increase sales and customer satisfaction by making your business accessible

How to Get UK Freephone Numbers for Your Business?

Getting a UK toll free business number is easy if you know what to look for. You can get such toll free service from any toll free number provider. However, there are some factors to consider. For example:

  • Do you want additional virtual communication features such as call recording, IVR, outbound calling, etc?
  • The provider’s credibility and their service’s reliability.
  • Cost of service and ease of use.
  • Range of coverage.
  • Call quality and call routing options, and so on.

It is important to choose a UK toll free number provider based on your business’s communication needs. Global Call Forwarding offers 5 different plans for our international toll free numbers. You can pick a plan that suits your needs best. These virtual number plans come equipped with basic communication features such as:

  • Call forwarding (including Time of Day Routing and Select Country Routing)
  • IVR/PBX
  • Unlimited extensions
  • SIP trunking
  • Call transfer
  • Custom greetings and local ringback tones, etc.

You can add premium features for an additional price. These include:

  • Call recording software (inbound and outbound)
  • Outbound calling with customizable outgoing caller ID
  • Rollover minutes
  • Inbound SMS plan (if applicable)

UK Virtual Numbers

Ready to get UK freephone numbers with Global Call Forwarding? Sign up on our homepage today or call us to learn more about UK virtual business numbers.

12 Best Call Recording Services [2021]

Choosing a call recording service for your business can be tricky. There are many options available with varying prices and additional features. Here we make a note of the 12 best call recording services available in 2020.

*Note: Prices noted in this article are current and are subject to changes.

Call Recording with Virtual Number Plans and Office Phone Solutions

Here we highlight VoIP and business phone system providers that offer call recording software as a feature along with their services. So, if you are looking for a business phone system or call center solution or to buy virtual phone numbers, have a look at the below providers. You can easily add call recording as a feature when you purchase a plan from these companies.

1. Global Call Forwarding

Global Call Forwarding offers call recording as a premium service that can be added to any virtual phone number plan purchased. With this service, you can record up to 100% of all incoming and outgoing calls. When you purchase this service, you can store calls for a default 30-day period. However, once activated, you are able to increase the storage period up to 6 years as well as adjust the percent of calls recorded. The price for this service is $3/mo + 2¢/min.

2. TollFreeForwarding.com

TollFreeForwarding.com’s call recording service is billed at $7/mo + 3¢/min. This, like Global Call Forwarding, can be added to a virtual phone number plan being purchased. They offer two types of storage for their recording service: short-term (30-day storage) and long-term (more than 30 days). To store calls for more than 30 days, you pay an additional 3¢/min/mo.

 3. CallRail

CallRail is a service that focuses more on call tracking and lead generation. As a result, their services and features center around these areas. They offer packages with multiple numbers as well as analytics to assist you in marketing and conversation efforts. Their call recording service comes along with each of their plans and is not charged additionally. The plans they offer are priced at $45/mo + usage, $95/mo + usage, and $145/mo + usage.

4. Avoxi

Avoxi offers a call recording feature in addition to its virtual number plans, as well. You can get this service with a free 30-day storage period for $6.99/number/min. Additionally, they have 60-, 90-, and 365-day storage periods as well. And if you pay an extra $0.02/min/mo, you can access unlimited storage.

5. TalkDesk

TalkDesk, like the other providers mentioned here, offers call recording software with voice and screen recordings to provide the entire context surrounding a call. Calls can be stored for as long as needed on their cloud or yours. Their visualized waveform playback lets you make comments and review important topics for discussion with the ultimate goal to improve agent performance. However, to get an exact quote for your business, you will need to connect with a TalkDesk representative.

6. Aircall.io

Aircall.io’s virtual number plans come equipped with call recording. The price of the overall service, therefore, depends on the plan you choose. They offer 3 main plans: Essential, Professional, and Custom. These plans are priced per user per month and have a minimum user requirement. Additional virtual numbers cost extra.

7. RingCentral

RingCentral offers cloud-based phone system solutions for businesses. This includes virtual numbers and cloud communication services. You can get call recording on-demand with their Standard plan starting at $24.99/user/mo. However, you can get automatic call recording with their Premium ($34.99/user/mo) and Ultimate ($49.99/user/mo) plans.

8. 8×8

8×8 is a company offering business communication solutions that include voice, messaging, and virtual call center solutions. They offer call and screen recording as part of their business phone system plans which range from $28-$175/user/mo. For information about how much their call recording service costs, however, you will need to contact a sales representative.

9. Vonage

Vonage’s Advanced virtual number plan priced at $39.99/mo/line comes with call recording (on-demand) and records up to 15 hours per month. They also offer call recording on-demand separately for $4.99/mo/extension. Additionally, their Salesforce Express plan also comes with call recording software among other features. To get a quote for your business needs, however, you will need to contact sales.

Stand-Alone Recording Companies

Here we will briefly look at companies that offer call recording as a stand-alone service. If you want only call recording and no other virtual communication features or business numbers, then these options may seem more suitable.

10. CallCabinet

CallCabinet offers a call recording software that utilizes the cloud to record conversations. They provide stats, graphical representation, conversation patterns, etc. Their monthly payment option is “pay as you grow.” You can try their service for free for 30 days to test it and see if it fits your needs.

11. Voicestamps

Voicestamps’ call recording service records all calls automatically for $25/mo. There’s a set-up fee of $25. Additionally, they charge $0.06-$0.10/min for recordings. Their outbound call recording prices are similar with a $25 set-up fee, costing $25/mo, and $0.10/min.

12. Orecx

Orecx provides cloud recording software to help you record business calls. This comes with an attractive auto-tagging feature that lets you identify and target important keyphrases within the conversation. To get Orecx pricing, you will need to contact a representative for a customized plan.

Still Unsure About Which Service is Best?

If you still cannot decide which call recording service to go ahead with, then let us help. Call us to learn more about the different features and plans we offer. Or, sign up and try our service for free for 7 days and see for yourself.

On-Premise vs. Virtual Call Center Software: How to Choose

Want to know if your business can benefit from an on-premise or virtual call center? Here we will run through a comparison between these two call center software types so that you can determine what is best for your needs.

The Call Center You Need: On-Premise or Virtual?

Deciding which software to use depends on the requirements, budget, and goals of your business. Let’s look at what each software type does and how each can be beneficial.

On-Premise Call Centers

On-premise call center software is run and controlled by the business itself. The hardware, software, and other infrastructure is held in-house. This means that the business is responsible for its maintenance, upgrades, and expenses. It also means that you have control over it and how it functions, which is a benefit for some companies. But others may not want to deal with hiring an IT team and the added costs.

Virtual Call Center Software

A virtual call center software is hosted by the server but runs on the cloud. This cloud call center handles customer support and success communications. The benefit of such a virtual call center is that all interaction between the business and its customers remains accessible from anywhere, via the internet. This includes inbound and outbound calls, email, instant messages, etc. Since customers are using digital channels to connect with businesses — such as email, instant messaging, etc — companies are switching to modern virtual call centers.

On-Premise vs Virtual Call Center Software

So, while both types of call center software have their advantages and disadvantages, how do you decide which is right for your business? It all depends on what you need and what you prioritize. Would you like full control of your inbound and outbound calling? Do you need to cut down costs? Determining what you want to get out of a call center software will help you identify which will work better for you.

Costs: An on-premise call center will require set-up costs. For example, you will need equipment, hardware, licenses, servers, and full-time agents. Additionally, you will have to spend on installations, upgrades, and maintenance.

On the other hand, using a virtual call center software will mean that you can build a virtual call center or virtual office and hire remote agents instead of needing on-site agents. Additionally, you won’t need to spend money on equipment or a physical office space. All of this helps increase savings.

Scalability and Reliability: Virtual call center software offers the same functionality and benefits of an on-premise solution. However, the former is far more scalable, reliable, and flexible. Changes to certain lines or numbers can be made quickly by the account manager or by contacting the provider.

Mobility: An on-premise call center will need an in-house team to run and maintain the system. This may even require you to be present on-site to ensure everything works according to the plan. If you desire a centralized, physical location, then an on-premise call center software will be more appropriate.

On the other hand, if you have employees working remotely or spread across the world, then a virtual call center will prove more beneficial, as everything can be monitored and tracked through the online account management system and your softphone. All you will need is a strong and reliable internet connection.

Advanced Features: An on-premise call center software can give you basic, traditional call center features such as call transfer, extensions, hold, voicemail, call logging, etc. However, a virtual call center will give you access to premium services such as advanced IVR, click-to-call, call recording and forwarding, and more.

Virtual Call Center Software with Global Call Forwarding

You can get the necessary tools to set up a virtual call center from a cloud-based phone service provider such as Global Call Forwarding. We offer local, international, and toll free numbers. Additionally, you can get advanced features such as Call Recording, Interactive Voice Response (IVR), Outbound Calling, Call Reports, and more. All of these services can support your virtual call center. To learn more about virtual call center software or to start setting one up for your business, call us at 1 (888) 908 6171 to talk to an expert.

Why Every Call Center Needs Call Queuing

Looking for a service that can improve customer service and caller experience? Call queuing or call queue management is the advanced call center tool you need!

What is Call Queue Management?

Call queue management or call queuing is a call center concept or feature. When a business uses call queue, its callers hear a greeting, followed by an IVR presenting them with menu options. They are then sent into a call queue with “hold music” or “wait music” playing, letting them know what “wait” position they are in. In other words, “You are 2nd in line” or “You are next in line.”

This way, calls are still accepted — that is, no busy tone is heard. And callers are made aware of their position in the call queue so that they can estimate how long it will take for them to receive service.

In call queue management, there are agents consistently connected to the queue. However, during high volume periods, additional agents or remote agents can log in and join the queue, reducing the burden on current agents.

Benefits of Call Queuing for Call Centers

Businesses of all sizes can use call queuing to create a more efficient workplace. Call queue management not only ensures that each caller gets their chance but reduces missed and abandoned call rates. Furthermore, by letting customers know how long it may be before they get service can help reduce frustrated callers. Here are a few benefits of such a feature:

1. Reduced call abandonment rates
Any business that has a high call volume or call traffic periods needs call queuing to manage these calls. By lowering the average time spent in a call queue, you can improve call abandonment rates. After all, nobody likes waiting in line for too long.

2. Improved customer satisfaction
At times, customers wait for a representative for 20-30 minutes to an hour on a call. As you can understand, that can be tremendously frustrating. By letting callers know what their call position is, they are more prepared to wait. Furthermore, you can provide them with the option of leaving a voicemail, if they don’t wish to wait too long.

3. High first call resolution rates
Lastly, you can use this tool to solve customer concerns and queries on the first call itself. Callers are waiting in line with an estimate of how long their call will take. This will encourage them to stay on the call instead of abandoning it and calling again.

9 Must-Have Call Queuing Features

In order to effectively implement call queuing, your teams will need call queuing features that support high call volumes and allow agents to offer uninterrupted service. Here are the top 9 call queue management features to consider:

1. Cloud IVR System

A cloud IVR system will answer calls, route callers to the appropriate department or employees, and may also try to resolve the call itself. IVR systems can be programmed to help callers navigate menu options, troubleshoot, and complete certain actions such as making a payment, activating an account, and so on. This way, callers with common requests can have their concerns resolved without the need for an agent. However, if the issue cannot be resolved, the call can then be transferred to the queue where the caller waits for an available agent.

2. Custom Hold Music

Playing gentle hold or wait music for callers is always a good idea. Silence can be confusing; loud jarring music can be frustrating; a continuous loop advertising your services may also tick the customer off. Choose music that is soothing to hear while they wait on hold or in queue. You can even add custom announcements telling them what position they are in.

3. Maximum Hold Time

Call queue management is important when using a call queuing feature. This means that if a caller has been waiting for maximum hold time, they get immediately rerouted to another destination, remote workers, a different queue, voicemail, or another announcement. Therefore, setting a maximum hold time is necessary, and this can be 5, 15, or 30 minutes. Avoid setting a maximum hold time beyond 30 minutes as callers will usually abandon calls that make them wait that long.

4. Time-Based Routing

Time-based routing is a routing strategy that automatically routes or forwards calls to different destinations or numbers based on the time these calls are coming in. This setting is predetermined by the account user. And so, you can forward calls that come during off-hours or over the weekend to remote workers or your home office. Additionally, during high call traffic periods — which can be determined by studying call reports and conducting call analytics — you can have calls routed to additional agents and remote workers.

5. Location-Based Routing

Location-based routing forwards calls to different destinations and numbers based on the location of the caller. This means that a caller from a different region can get customer service in their time zone and language preferences.

6. Skill-Based Routing

This type of routing enables callers to reach the right agent by inputting their preferences such as language or expertise. Then the call is transferred to an agent that has those skills. This can help improve customer satisfaction.

7. Simultaneous Ringing

Simultaneous ringing enables all incoming calls to ring on multiple devices as needed by the account user. This means that while callers wait in queue, there is a higher chance of them receiving service quickly. Since the call rings on multiple devices, the caller can get service as soon as an agent is available.

8. Call Recording

Call recording is a virtual communication feature that lets users record all incoming and outgoing calls to be reviewed in the future. Certain VoIP providers, like Global Call Forwarding will offer customizable options such as the ability to adjust the percent of calls to be recorded or how long to store the recordings (from 30 days up to 6 years). Reviewing these recordings can help sales and marketing teams identify calls that were successful or unsuccessful so that they can do better in the future.

9. Call Analytics & Reporting

Lastly, use call analytics and detailed call reports to learn more about your business communication system and customer trends. For example, find out peak call hours, preferred calling methods, use call tracking to identify which advertising channels are attracting the most customers, and so on.

Build a Better Business Phone System

These virtual communication tools can help you create a safe and efficient communication system for your business. Offer quick and accurate service and convert new customers into regulars. To learn more, call us at 1 (888) 908 6171 or chat with an expert today!

Benefits of Recording Business Calls: Invest in Call Recording Software

Considering recording business calls? You are on the right track. Utilizing a call recording software is becoming a common part of running a company. This is because recorded calls can help with training new employees, identifying areas of weakness, and protecting your enterprise from liabilities and scams.

Call Recording Software for Business Communications

More and more companies are investing in call recording software. This is primarily to document incoming and outgoing calls and prevent the loss of important customer data. Additionally, transactions and purchased records act as receipts. But the important part is that recording makes this information accessible in the future. It can, then, be referred to resolve doubts or concerns and set the record straight.

Global Call Forwarding’s Call Recording software lets you record 100% of calls and stores them as MP3 files for up to 6 years. You can add this feature to your inbound or outbound calling plan. And you can adjust the recording percent to whatever your needs require.

Let’s look at some of the main reasons why corporations are recording business calls.

Record-Keeping Made Easy

With call recording, you can keep track of incoming and outgoing calls, and why these calls were made. This can then be referred to in the future to resolve an issue or to study consumer behavior. For example, you can identify a common issue with your service if a good percent of incoming calls revolve around that issue.

You can also use recording software for call tracking purposes. Call tracking is where you make a note of call timings, call lengths, average handling time (AHT), where calls are coming from, etc. Such metrics can teach you more about customer preferences — such as preferred calling times and days, and more — which will help you serve them better.

Quality Assurance

Recorded calls make for great training material. Call center managers and team managers can study past calls to review their employees on call. This can help identify successful sales tactics or areas of error. Some common points to focus on when conducting performance analysis are:

  • Is the agent sticking to the script or wavering too far?
  • Are they able to answer customer questions and doubts?
  • Is the interaction positive or dull? And so on.

Then, you can re-train employees with real examples to encourage them to meet your standards. You can also highlight good customer service behavior and reward agents who do well. This further incentivizes other employees to follow suit. Call recording, therefore, can improve quality assurance.

Protection From Liabilities

Lawsuits are a common occurrence in the business world. And record-keeping is one way to deal with possible future issues. Call recordings can, therefore, function as evidence to prevent personal or business liability or to resolve an issue that can land a company in jeopardy.

Compliance Requirements for Financial Companies

Corporations offering financial services are required to be in compliance with different regulations, depending on their location and who they are doing business with. The MiFID II legislation is for EU-based companies doing business with EU clients while the Dodd-Frank Act is focused on US-based services and customers.

In addition to this, different countries and states have different compliance laws that state the nature of consent required. For example, some countries ask for written consent by both parties before calls are recorded while others accept verbal consent. The GDPR compliance is one such important rule. These rules must be kept in mind when utilizing a call recording software for business.

Increase Efficiency and Productivity

Reduce errors and miscommunication with a call recording software and improve office productivity. Sign up for a new business number with us or port your existing number to Global Call Forwarding and add Call Recording to your business communication system. Not convinced yet? Contact us to learn more.

Dodd-Frank Act: Call Recording Compliance for US Banks

If you are a financial services company, then you must have heard of the Dodd-Frank Act. It’s important to note, the Act is a complex set of rules and regulations that can be a little difficult to understand. Here we will look specifically at call recording compliance under the Act.

Dodd-Frank Act: The Basics

The Dodd-Frank Wall Street Reform and Consumer Protection Act — Dodd-Frank in short — came into effect in 2010 through the Obama administration. Named after sponsors Sen. Chris Dodd and Rep. Barney Frank, this set of regulations and restrictions was created as a response to the 2008 financial crisis which saw the fall of many large financial establishments. Due to the crisis, investment banks, commercial banks, government-sponsored companies failed and needed government support to recover. And so, the Dodd-Frank Act works towards protecting financial institutions from possible failure.

Call Recording Compliance Requirements

To do so, it lays down rules and restrictions that financial institutions of any kind ought to follow. These regulations aim to:

  • Increase transparency and promote stability
  • Protect taxpayers by putting an end to bailouts
  • Change the idea that any institution is “too big to fail
  • Protect clients and customers from receiving fraudulent and abusive financial advice.

As stated, the intent behind the Dodd-Frank Act is to encourage financial services companies to keep records of transactions and by extension, protect consumers. And these regulations apply to business communications as well. They ask financial businesses to track and record communications between the company and its clients. Call recording regulations under the Act require institutions to:

  • Record conversations across all communication mediums, that is phone, text, email, video, etc.
  • Store records for a duration of the transaction and five years after
  • Timestamp all records
  • And organize all records to make them easily accessible

With these regulations, finance-related transactions and correspondences are monitored and banks become more responsible for their behavior.

Do You Need to Comply With These Laws?

What such a reform tells us is that businesses, big or small, can incur damages and take a downward path. And a way to protect or assist these businesses is through record-keeping and transparency. So, if you are a financial services company, like a commercial or investment bank, it is recommended that you invest in call recording for your office communication system and record all incoming and outgoing calls. Make sure you are aware of local and state laws regarding consent for recording calls.

How To Record Calls

There are a few different ways you can record calls. You can either get a recording device, record through a computer app, or get the tool from your phone service provider. For example, many companies use a virtual service provider for their business communications. And such services come with added features and tools like call forwarding, SMS capabilities, and of course, call recording.

Using a recording device or your computer is a good idea. However, these may not provide enough storage space to store all recordings. And high-quality recording equipment does not come cheap. This is why cloud-based solutions exist. The call recording service from Global Call Forwarding is cloud-based and records 100% of incoming calls. You can adjust this setting to a percent, if you prefer. Additionally, you can also get outbound call recording for your outgoing calls. Store recordings as MP3 files and access them in the future. Additionally, you can set them to be stored for as long as 6 years.

Start Recording Calls

Ready to get call recording for your bank today? You can do so easily with Global Call Forwarding, just follow these steps:

  1. Visit our homepage https://www.globalcallforwarding.com/ to sign up.
  2. On the left-hand side, follow the prompts to select a new number or port your existing business number.
  3. Then, on the right side, enter contact information for where you want to forward your calls.
  4. Click on “View Rates.”
  5. Look through the different plans available and pick one.
  6. Scroll down to see additional features that you can add to your plan. Select “Add Call Recording.”
  7. Scroll further to add your information, accept the Terms and Conditions, and complete your purchase.
  8. You now have a business phone system with call recording.

 Add Call Recording to Your Business Phone System Today

Keep your bank safe from fraudulent or inappropriate activity by complying with the Dodd-Frank Act and recording important transactions. To learn more about call recording, contact us today!

Building Credibility with Professional Toll Free Numbers

If there’s one thing that new businesses need when they enter the market place, it is the credibility to attract customers. And there’s no better way to do so than with the help of professional toll free numbers from Global Call Forwarding. In this article, we will explore a number of ways that professional toll free numbers build credibility with customers around the world.

Getting Professional Toll Free Numbers

Think about the last time you contacted a high-level organization, like a government organization, non-profit, or multinational corporation. Or, what about a high-volume business, like law firms and large retailers? Chances are that in each case, those entities offered a toll free number to the public to enable communication that would otherwise be pricey – or impossible.

As you may be aware, toll free numbers help accommodate the broadest audience for your business by picking up the charges that would normally be incurred by the caller. Instead, your business foots the bill to enable all callers to reach your business. By offering this service, your business gains an edge over lesser organizations that demand more out of prospective customers. Even subconsciously, customers immediately appreciate a business that makes it problem-free to contact them.

Geographical Agnosticism

One way to build credibility is to have a national presence instead of being tied down to a specific area code. With toll free numbers, your organization’s toll free numbers help to create something called “geographical agnosticism.” This component enables your business to gain a professional sheen that automatically implies that your organization has the capabilities to handle inbound calls from nearly anywhere.

And because most toll free numbers are national, geographical agnosticism can help obscure where your business is calling from, particularly if it is located in a less-favorable location or one not known to carry the same weight as major cities.

Accommodating International Customers

One particular challenge that comes with offering toll free phone numbers is that international callers are not able to receive these benefits when dialing a phone number located outside of their country and/or numbering plan. Instead, these callers are saddled with long-distance fees, saddled with the chore of dialing outside of their country, and may not be able to complete the call depending on their telecom service providers’ requirements. This can reduce credibility in the eyes of international markets and may render your efforts useless. Is there a better way to guarantee ease of communication?

Yes, there is. Luckily, with the help of Global Call Forwarding’s services, you can use two forms of toll free numbers that help bridge the gap: ITFS numbers and UIFNs (International Toll Free Numbers and Universal International Freephone Numbers, respectively). Both types of toll free numbers enable international callers to reach your business without incurring charges or service blockages. In most cases, these phone numbers match the area code and remaining digits identical to “normal” toll free numbers that those customers are already used to, which is something your international callers will certainly appreciate.

Professional with Toll Free Numbers Customer Service Directory
Source: Stockphoto.com O#23559 – ID#100077897772

Adding Professional Toll Free Numbers Directories to Your Business

Going back to our first example, another component you’ve probably encountered with large, high-volume organizations is first encounters a directory that allows you to self-select which person and/or department you’d wish to speak with, as well as provide information relevant to your inquiry (i.e store hours, frequently asked information, voicemail services, staff list, etc.). One common form of directory available from Global Call Forwarding is called Interactive Voice Response (IVR), which uses spoken voice commands to navigate through your company’s directory, which can reduce the hassle of constantly dialing numbers to navigate (or eventually dialing ‘0’ to reach an operator to guide you, if available).

Global Call Forwarding also offers PBX services, which is short for “Private Branch Exchange.” Essentially, by using a PBX, you can expand one phone number into many sub-directories for callers to reach various departments and staff members, usually by dialing * and the appropriate digits. Callers appreciate this and it helps build professional credibility, particularly when multiple calls need to be made quickly and directly.

Better Functionalities with Add-ons from Global Call Forwarding

Because modern professional toll free phone numbers are powered by cloud computing (supplanting the limitation of landlines), there is a host of new advancements that can be added to regular phone service to augment how your business operates. Let’s cover a brief list of some of the most popular add-ons to build credibility:

CallMe Click: As the name implies, when you use CallMe Click, a visitor to your website can initialize a call from their device to reach your business with a simple click. This makes contacting your business more instantaneous instead of having the customer dial the number manually. This allows for fast action, allowing for almost-instant connection with a customer, and wasting no time.

Time of Day Routing: This add-on enables inbound calls to be routed to a specific destination depending on when a call is placed. For instance, if callers reach your business outside of regular business hours, those calls can be forwarded to another destination, such as a call center in a favorable time zone or voicemail.

Call Recording: This add-on records and stores calls made between your phone number and the public. By using call recording, you can more adequately assess if your staff is following company protocol to establish the best customer service possible and follow best-practices – a crucial component to building credibility.