“LiveVox isn’t just a vendor or a product—they’re a strategic business partner and game changer.” – Anthony Warden Vice President, Loan Resolutions, Texas Dow Employees Credit Union

Results at a glance

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THE CHALLENGE:

Mobile phone outreach was a must—and compliance was tricky.

It has become increasingly difficult to reach consumers via traditional telephone. Nearly half of all American homes no longer have landlines and just 8% currently use a landline exclusively. For consumer outreach programs, that can present a big problem. With most consumers today only reachable by cell phone and TCPA regulations in place that restrict autodialing to cell phones, contact center executives must rethink their contact strategies—and their technology.

“Eighty-five percent of my membership is reachable by cell phone, versus 45% by landline” explains Anthony Warden, Vice President, Loan Resolutions at TDECU. When it came time to update his contact software, a solution that would help mitigate compliance risk for cell phone outreach was top of mind. But Anthony was interested in something more as well.

Email outreach was a must— but it had to be integrated.

Anthony wanted an easier and more effective way to connect with their over 260,000 members, but also to be able to serve TDECU members based on their channel of choice. Not only does connecting with consumers in their channel of choice deliver a better experience, it increases the likelihood of getting a response. It’s in line with TDECU’s ‘Life Simplified’ approach.

Anthony knew that the value of postal letters for driving responses was diminishing by the minute and that email was the channel of choice for a growing majority of consumers. But replacing postal sends with email campaigns posed a problem of tracking and performance reporting. With his email platform totally disconnected from his IVR system, he would have difficulty gaining insight into performance as there would be no easy way to measure the effectiveness of campaigns that span both phone and email channels. Trying to optimize communication across channels by connecting disparate systems and processes would be tough and expensive.

Anthony knew that in today’s world, he had to add multi-channel capabilities to his contact center software. He had to find a way to reach TDECU members by cell phone and email, track and measure performance across all channels, and mitigate compliance risk simultaneously.

THE SOLUTION:

After an exhaustive and thorough examination of many contact center software providers, TDECU selected LiveVox for several key reasons:

1. LiveVox is pure cloud.

“Because LiveVox is cloud-based, we’ll never be orphaned,” Anthony says, referring to the very real possibility that an on-premise software solution might well one day be abandoned by its developers, leaving him without a path to continuous improvements or continued service. Because LiveVox is cloud-based, rather than installing software on TDECU servers, TDECU subscribes to LiveVox as a Software as a Service (SaaS). Continuous improvements, new innovative features and updates are delivered automatically. All that TDECU contact center agents have to do is log on each day, and no, they will never be orphaned.

“It’s low cost, highly effective, easy to use, and lets me focus on teaching my staff how to run the business,” Anthony says. That’s the power of LiveVox cloud technology. It eliminates the inherent handicaps of traditional on-premise technology. It’s much less expensive, much more efficient, and much more flexible.

2. LiveVox is a leader in mitigating compliance risk for cell phone outreach.

“That LiveVox includes risk mitigation tools for managing compliance needs has been huge for us,” Anthony says. LiveVox is a leader in providing the necessary physical separation of different outbound dialing systems, as well as requiring human intervention to ensure the highest levels of risk mitigation. “Finally, I have a way to manage access to all those TDECU members—the 85% of them that are reachable by cell phone, versus 45% by landline” Anthony says. “It has made a huge positive impact on our business.”

The full LiveVox Compliance Suite provides access to a host of compliance tools including:

  • Over-Dialing Protection
  • Manual Dialing Curfews
  • Do-Not-Call options
  • End-to-end PCI Compliant Payment Lines
  • Centralized Call Recording
  • Real-time Agent Monitoring and Reporting

Each of these tools and other LiveVox features help contact centers become more efficient, more effective and manage risk with respect to various statutes and standards including the FDCPA, TCPA, PCI, DSS and FCRA.

3. LiveVox enables communication in the consumer’s channel of choice.

The first email campaign Anthony deployed got a “tremendous response”—greater than 40% open rates and a 23% click through rate on a link. “When you look at the cost of sending emails vs. agent calls, profitability on email-prompted responses is significantly higher,” Anthony says. “We’re leveraging our contact data to a much greater degree, and it’s making a big impact on profitability. It’s far less expensive to engage our members via email than through voice channels. And because we’re connecting with customers in their channel of choice, we also get fewer complaints.”

The LiveVox email solution tracks and reports on email consent and manages consumer opt-outs during the course of campaigns—email-specific risk mitigation tools that help call centers move beyond just voice. “LiveVox pays for itself in just one campaign,” Anthony says, adding, “What a phenomenal tool to help us drive our ‘Life Simplified’ approach.” By adding email to his communication strategy, Anthony has simultaneously boosted profitability and reduced member complaints.

4. The LiveVox total cost of ownership is unbeatable.

“Nobody touches our members or impacts the profitability of my organization more than LiveVox,” explains Anthony. “Take for example, the fact that so many of our members are world travelers, and now we can reach them where ever they are.”

Situated in Houston, TX, it’s not surprising that many TDECU members are in the energy business, “which means they are traveling all over the world all the time,” says Anthony. “Today I can use email to collect from people in India, Guatemala, Japan—anywhere they may be, and it really shows up in our bottom line.”

It took Anthony just four minutes to schedule his first LiveVox campaign to over 10,000 past due members. “The ability to self-serve, auto load and sort lists, create and launch campaigns, see responsiveness in real time, and manage all our touchpoints appropriately with business intelligence that is so sophisticated and robust—it’s a testament to the horsepower of LiveVox,” Anthony says.
“We no longer struggle with distinguishing activity vs. accomplishment—counting calls instead of counting collections,” he adds. “With LiveVox Cross Call Attribution Data and Analysis, we’re measuring exactly what we should be—our financial performance across channels.”

TDECU Solution Highlights

TDECU is the 4th largest credit union in TX with over 260,000 members. Their LiveVox implementation includes our 4 Clouds Outbound Systems, Blended Inbound, Intelligent Email and Business Intelligence Solutions.

“Because LiveVox is cloud-based, we’ll never be orphaned.”

-Anthony Warden Vice President, Loan Resolutions, Texas Dow Employees Credit Union