Staying competitive requires a balance of productivity and risk mitigation.
Drive ROI with key insights
Business intelligence and performance analytics empower you to make decisions backed by data. In addition, our quality management and eLearning tools help you to streamline workflows and eliminate manual processes.
Avoid lengthy, expensive integrations
The LiveVox platform is simple to get up and running and can scale with your business as you grow, from initially replacing slow, manual processes to eventually deploying advanced features and new channels.
Don’t sweat CFPB’s Regulation F
November 30, 2021 was the effective date for the CFPB’s Regulation F debt collection rules. Now more than ever, it’s crucial that you take a compliance-focused approach as a collector.
Crossing your fingers and hoping your operations are above board is not a viable strategy if you want to avoid costly litigation, fines, reputation loss, and other penalties.
- Control multichannel contact attempts with Attempt Supervisor
- Manage consent and revocation with Unified CRM
- Monitor agent interactions using advanced AI with SpeechIQ®
- Use digital channels to increase the chances of contact beyond calling.
Learn more about LiveVox’s solutions for addressing evolving CFPB rules.
Maximize Productivity Over 10-Digit Manual Dialing
HCI® has helped companies realize a 184% increase in agent connects per hour when compared to manual dialing. Download this ROI comparison to learn more.
Providing contact center management for businesses just like you
“Staying compliant in these litigious times has put us at ease and really reduced stress for all of my crew. Clicker Agent feature keeps us compliant and lawsuit free. LiveVox has a group of forward thinkers and appear to come up with quick and easy solutions for text and e-mail.”
—Chris V. | VP of Operations, Financial Services
“LiveVox blew us out of the water. We’ve hit our highest numbers. One of our clients mentioned they had received more payments in one day than the last 3 weeks prior to being on the LiveVox Platform.”
—PBCFM Servicing Team
Learn more about this product
Check out our Frequently Asked Questions below.
What is an omnichannel collections platform?
An omnichannel collections platform is one that combines multiple communication channels into a unified suite to enable collectors to engage in seamless contact outreach. Instead of relying only on making phone calls or mailing letters, some companies are adopting digitally-based communication services, including: SMS, live chat, email, and self-serve portals:
- Seamless communication across channels creates smoother relationships with customers, especially when your agents can view everything they need on one screen
- It’s not just about adding more channels; the more points of contact you have, the more insight you can gain from your interactions with customers
- Look for a system that allows you to unify all your contact channels in one place and gives you the control you need at the same time
- Convenience for customers equals more dollars collected; an omnichannel debt collection approach is more likely to reach people in the right channel at the right time
- Collectors must be focused on bringing in payments, but compliance concerns are also very real and pose risks if you don’t abide by them
Essential features of omnichannel debt collection call/contact center software
Selecting the right call center software for your collections agency or BPO may seem daunting. Before making a decision, conduct deeper research into the functions call center software should have to keep you competitive. Below is a non-exhaustive list of what to look for:
- Third-party system compatibility
- Omnichannel capabilities
- Versatile dialing options including automation and manual
- Self-service options
- Consent management
- Agent scripts for compliance and risk mitigation
- Secure payment capture
Omnichannel implications of the CFPB’s Reg F. on collectors
The Consumer Financial Protection Bureau’s Regulation F has made omnichannel debt collections more crucial than ever:
- Collectors must adhere to these evolving rules and make regulatory compliance a top priority
- On November 30, 2021, new CFPB rules took effect addressing debt collection communications
- These rules interpret and clarify the Fair Debt Collection Practices Act (FDCPA) under Regulation F (Reg. F)
- Reg. F is designed to address consumer concerns about debt collection communications
- The ruling establishes a wide range of requirements and limitations for interacting with consumers
Collectors must be proactive and ensure they have the right technology and tools in place to:
- Control contact attempts
- Manage consent and revocation
- Monitor phone calls
Benefits of implementing an omnichannel collections approach
When collectors adopt an omnichannel strategy, customers can seamlessly engage on any channel at any time, no matter what their preference is:
- Improved CX due to availability of self-service options
- Automation results in a significant reduction in the amount of manual work required to set account processing in motion
- Compliance and control are improved due to the virtual agent executing channel content and scripting in a consistent yet fixed manner.
- Vendor management becomes less onerous because the requirement for multiple suppliers is eliminated
- Scaling an operation to deal with increases in volume or unexpected events is seamless.
- Adding additional channels is simple, with very little change or integration work required
Compelling statistics on omnichannel customer engagement
When collectors adopt an omnichannel strategy, customers can seamlessly engage on any channel at any time, no matter what their preference is. As gathered in a 2021 Forbes article, the data speaks for itself:
- Omnichannel campaigns saw an 18.96% engagement rate, while single-channel saw just a 5.4% engagement rate (source: Omnisend)
- Consumers are no longer using only 2 touchpoints per purchase; it’s now tripled to 6 (source: MarketingWeek)
- 90% of customers expect their interactions to be consistent across all channels (source: BusinessWire)
- Nearly 88% of Gen Z say they expect brand experiences to occur among digital and physical channels (source: MarketingDive)
- 78% of Boomers report that they’re unhappy when they have to restart a conversation with a brand (source: The Drum)
- The customer is not a stagnant data point; 60% of customer identity data is outdated within two years (source: AdAge)
Learn why leading contact centers chose LiveVox for their Omnichannel, CRM, AI, and Workforce Engagement Management solutions.
Frictionless Agent & Customer Experiences
Easily improve customer service and shift customer engagement between voice and digital channels while unifying all interaction history, customer profile information, and controls into a tailored agent desktop that improves effectiveness and speed.
One Unified Platform
All LiveVox contact center operations are accessed via a single, secure cloud-based platform, allowing for a seamless experience for agents, supervisors, and decision-makers.
Integrated Agent Workflows
LiveVox’s unified data platform combines a native CRM with public APIs, multiple integration points, and configurable agent desktops to address critical efficiency gaps by syncing processes, apps, and systems.
An Industry-Leading End-to-End SLA
Platform reliability you can count on with unmatched end-to-end coverage made possible by LiveVox's infrastructure, application, and services.
A Partnership You Can Trust
LiveVox contact center solutions will support your unique business goals with a continuously evolving platform, in-depth training, dedicated account managers, our Customer Care Team, and Business Consulting sessions.