Collectors Master One Piece of the Call Monitoring Puzzle

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According to a recent insideARM.com poll, 62 percent of collectors say that the main purpose of their call monitoring program is to make sure collectors say the right things in phone conversations with consumers. But in the real world, your call monitoring program has to cover much more of your call center’s operations.

Here’s how call monitoring priorities broke down among poll participants:

“What is the main purpose of your collection agency’s call monitoring program?”

  1. Making sure collectors say the right thing on the phone: 62.64%
  2. Employee training: 15.38%
  3. Litigation: 15.38%
  4. De-escalating conflicts with the consumer: 3.3%
  5. Other: 3.3%

A call monitoring program for your collection agency will help set clear standards for your collectors against which you can measure their performance, create metrics against which you can measure and manage growth, and will help satisfy client requirements. Also, on the compliance side, auditors and investigators from the Consumer Financial Protection Bureau will want access to a variety of your agency’s policies, procedures, and, when applicable, call recordings.

However, reports show that contact center supervisors only monitor an average of two percent of the calls that come through their contact centers. And due to the rising volume of calls, they’re only able to physically monitor up to five percent of calls at any given time.

That’s why insideARM compiled the expertise shared in an insideOperations: Call Monitoring webinar into a new report, Operations Guide: Call Monitoring. This Operations Guide will help your agency learn:

  • What a call monitoring program does
  • What a call monitoring does not do
  • What should you be monitoring?
  • Creating clear and established standards/policies and procedures
  • Monitoring to clear and established standards
  • Consistent notification and reporting on violations
  • Review of metrics
  • Calibrating with QA and Operations
  • Separation of power between QA and Operations
  • Auditing and Reporting

Along with our Operations Guides about Call Recording and Call Volume, this report is a resource no agency or contact center should be without.

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Posted in Accounts Receivable Management, Books & Reports, Collection Technologies, Collection Technology, Daily, Debt Collection, Debt Collection News, Dialers .

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