The importance of call recording for key industries

08Apr, 2021

When you think of call recording, you might think of a robot telling you that everything you say will be saved for later use. For some, it’s an annoyance, but most likely don’t think twice. For those employees working in call centres, financial, or legal services, however, you’ll know that call recording is a vital feature. Call recording constantly improves staff training and customer experience but, most importantly, is integral to security and compliance.

Over the past year, many industries have adopted Microsoft Teams to transform remote communications and stay resilient through the pandemic. Few businesses, however, realise that they can now use the solution for seamless and fully compliant customer and client calls.

Wavenet’s ‘TeamsLink’ Call Recording solution plugs right into your existing Microsoft Teams set-up to provide MiFID II and FCA compliant communications. As well as providing storage, it allows for secure retrieval, searching, and monitoring across voice, video, screen sharing, conferencing, and chat.

How TeamsLink Call Recording can aid key industries

By recording all interactions across the Teams platform and partnering with known entities like Verint, TeamsLink can deliver significant value to the industries where compliance matters most. Three industries in particular stand to benefit the most from call recording embedded with their productivity hubs:

  1. Contact centres

It is vital that contact centres within businesses remain compliant and secure to the highest standards. Call recording can help to improve response times and professional conduct, while reducing disruption. TeamsLink’s Call Recording can offer advantages such as:

  • Secure availability of call recording to resolve customer disputes
  • Simple, automatic recording for training and review purposes
  • Multiple types of resilience to ensure recording is not interrupted in the event of a server outage
  • An agent dashboard to aid in the effective management of calls and customer details
  • A dedicated supervisor dashboard for managers. Managers can keep track of agent activity across the entire contact centre and provide customisable reports to help them increase their productivity
  • Wallboards to provide vital information like calls answered, wait times, answering times, and abandoned call stats in real-time
  • Financial services

Financial services companies are bound by strict legal requirements, with many required to record their calls by law. Call recording via TeamsLink can provide:

  • Automatic, MiFID II and FCA compliant call recording to meet standards without affecting productivity
  • Monitoring of and secure access to historic calls to aid in the discovery of market abuse and insider trading
  • Recording across all of your Teams communications – including voice, messaging, video calls and more to meet requirements
  • Law firms

While for many industries the main focus of call recording is compliance, in the legal sector it’s all about information protection and complaints resolution. There are several ways call recording inside Teams can help with this:

  • Reduced reliance on notetaking with automatic, full recordings of conversations.
  • Archives allow team members to access the full information at any time to resolve any confusion in notetaking, while employees can focus on the client rather than a notebook.
  • A database of complete text, video, and audio conversations with clients helps to address complaints in an industry where they’re incredibly common. Seamless access to recording allows for timely fact-checking and liability minimisation, ultimately saving money.

As the Covid-19 forces many companies to change the way they work, solutions that integrate with communications hubs like Microsoft Teams can close the compliance gap without impacting productivity. However, the right solution should be more than just a recorder.

It’s important that your call recordings meet your specific requirements and that they are stored intuitively and securely. If you’re still unsure whether or not call recording is for you, get in touch with us for an honest assessment.

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