Staying Competitive Means Balancing Productivity and Risk Mitigation
Reduce TCPA and "Mini-TCPA" risk
HCI® for voice and HTI® for SMS/MMS open new opportunities for you to reach consumers by cell phone while also reducing regulatory risk. You can also add enhanced mitigation for state-specific “Mini-TCPA” laws with our optional HCI® Select feature.
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)
What Are Your Advantages With LiveVox?
Transform your contact center's performance with a proven cloud platform that's actually easy to use and optimize.
Billions of Omnichannel interactions powered every year
Trusted by game-changing clients for more than 20 years
Recognized by the industry's leading analysts
Fully-Integrated Public Cloud Platform
+ Unified Tools, Channels, And Data To Maximize ROI
+ Fast, Easy, And Cost-Effective To Scale And Optimize
+ Turnkey Omnichannel / AI / Analytics Out-Of-The-Box
AX Workplace Made For Contact Centers
+ Integrate It All, Including Agent Workflows, In One Screen
+ Smart, Simple, And Seamless Cross-Channel Interactions
+ Easily Push And Pull Data From Your CRM / Other SORs
Scalable, Flexible, Reliable, And Secure
+ 100% Public Cloud Infrastructure And 24/7/365 Support
+ Easily Configure Our Modules, APIs, And Growing Partner Network
+ End-To-End SLA / High Availability And Enterprise-Grade Security