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The slow and uneven emergence from the global economic downturn has left many executives in a bind. Customer Relationship ManagementBig Data Analytics Future of Healthy: Can We Afford Another Five Global Financial Crises?
The same dynamic is forcing business leaders to reassess the investments they must make to grow revenues, in areas ranging from information technology, hiring, healthcare and taxes, to sustainability, price reductions and product differentiation. The differences between established and emerging markets became even more pronounced in this year’s survey, with respect to both the outlook of executives and the management tools they use and regard as effective. The most urgent priority indicated by all the global executives in the survey was the need to increase the pace of revenue growth and to find additional ways to make that growth profitable.
Businesses need to recapture growth lost in the downturn and in a recovery that proved weaker than many had hoped.
But leaders said they would need to overcome a range of challenges that vary widely around the globe and have executives of large companies (more than $2 billion in revenues) more worried than their counterparts at midsize or small companies.
Along with these external factors, business leaders indicated a number of internal and organizational challenges to revenue growth. Customers’ ability to easily compare prices online surfaced as a tricky new challenge for executives as they pursue revenue growth—61% said price transparency had a major impact on their pricing strategy.
That loyalty issue may help explain why larger companies were more worried about the future than smaller companies. These challenges to growth are being felt more intensely in some industries than in others. One message came through loud and clear: Executives knew the investments they needed to make to boost revenues, but they had delayed making them while companies waited out the downturn. Across industries and regions, business leaders indicated that they were narrowing their focus on the most critical areas for investment. Clearly, companies see the need to continue sharpening their focus on customers, as they had already begun to do before the downturn.
Customer Relationship Management (CRM) started gaining popularity as a tool in the mid to late 1990s and we first added it to our survey in 2000.
While companies are investing in improving their relationships with customers, they are discovering an equal need to invest in their employees.
That may be one explanation for the popularity of Employee Engagement surveys, a tool that was new to our list this year and tied with Strategic Planning and Customer Relationship Management as the most used tool.
Meanwhile, more companies see investments in environmental sustainability as supportive of future growth.
Given this daunting list of investment priorities, it is no surprise that so many executives told us they need to trim costs.
The evidence of such ill-fated cost-cutting efforts can be seen in companies’ experiences with three tools that were popular during the recent downturn: Downsizing, Outsourcing and Business Process Reengineering.
The five tools used most often were Strategic Planning, Customer Relationship Management, Employee Engagement Surveys, Benchmarking and Balanced Scorecards (see Figure 8). In general, respondents in emerging markets were more satisfied with almost all of the tools (see Figures 9 and 10). It is critical for companies to understand that not every tool is right for every situation. As the world continues its uneven recovery from the global downturn, executives in different regions are planning for the future with a variety of strategic tools. Whether they choose tried-and-true tools like Strategic Planning, or relatively new tools like Open Innovation, executives can improve the odds of maximizing their return on investment by acting prudently. Since 1993, Bain & Company has surveyed executives around the world about the management tools they use and how effectively those tools have performed. Half of all executives surveyed are very concerned about a potentially crippling impact of a cyber attack on their business. Management Tools identifies and explains the most important concepts and tactics used in business today, based on Bain & Company research.
A look at the challenges private equity investors face following a decade of volatility and change, and what it will take to succeed in 2016. Addressing a few key questions will change your perspective and raise your odds of success.
SAN FRANCISCO, May 17, 2016 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced it has partnered with the CBA to host a panel of legal and operations experts as they discuss the unique impacts and approaches to vicarious liability for retail banking consumer contact centers.
The benefit of leveraging outsourced vendors to manage consumer contacts continues to be offset by the risk of direct or vicarious liability for the outsourced vendors’ actions. In an attempt to reduce liability, many creditors are incurring rapidly rising audit resource costs as they search for ways to exert control and gain insight into the numerous agencies that represent their brand. Join legal and operations experts as they provide crucial and practical insight on the latest regulatory trends, and how some are cost-effectively adapting their agency management strategies in response.
The Consumer Bankers Association is the recognized voice on retail banking issues in the nation’s capital. On the session, LiveVox Chief Evangelist, Dusty Whitesell, notes, “As technology continues to move faster than ever, companies who can figure out how to use these advances will be the ones redefining success in this market. The Large Market Participant summit is an exclusive event tailored to the specific challenges and needs of the industry’s largest firms.
Experts provide insight on how macro market trends from consumer behavior to regulatory shifts are evolving the expectations and requirements of outsource collection agency (OCA) management for telecom providers. Panelists will also discuss the historic challenges and impacts of technology in developing solutions to reduce the handicaps of ensuring optimized performance and quality assurance across the OCA network. SAN FRANCISCO, March 8, 2016 –LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced it will help lead a discussion on how telecom risk management operations can adapt their OCA management approaches to meet today’s business environment and the historical challenges in getting there.
Join legal experts at TRMA Spring 2016 as they discuss the latest compliance challenges and approaches alongside operation experts who are leading the charge in leveraging technology and evolving processes to simplify how agencies are evaluated, audited, and controlled. SAN FRANCISCO, March 7, 2016 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced its new membership in the Consumer Bankers Association (CBA). Regarding the new membership, LiveVox Chief Evangelist, Dusty Whitesell says, “We are excited to have the opportunity to join such a prominent organization in retail banking. To learn more about LiveVox, be sure to look for us this week at CBA’s premier annual retail banking conference, CBA LIVE taking place March 7-9 at the JW Marriott Desert Ridge in Phoenix, Arizona.
Founded in 1919, CBA is the premier trade association for today’s leaders in retail banking- banking services geared toward consumers and small businesses. The Scottsdale Compliance Summit is an exclusive industry event hosted by Contact Center Compliance taking place March 4th at the Westin Kierland Resort & Spa in Scottsdale, AZ.
The Summit will provide an overview of the latest legal developments relating to the TCPA, including compliance concerns, enforcement trends, recent FCC guidance, the latest on the definition of an autodialer, defense strategies for combatting the new wave of TCPA claims and class actions, and practical guidance for what lies ahead.  The Summit will also include discussion regarding state compliance rules around telemarketing and automated calls.
Of the event, LiveVox Chief Evangelist and 20 plus year operations veteran, Dusty Whitesell says, “One of the greatest challenges for today’s consumer contact center is obtaining the flexibility needed to adapt to the rapid and continuously changing compliance pressures without compromising business performance. LiveVox’s array of TCPA-focused dialing systems, The Four Clouds, is honored for its industry leading compliance risk mitigation features which enable businesses to balance legal exposure, productivity, and expense in today’s hyper-compliance-focused environment. SAN FRANCISCO, January 28, 2016 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it was honored with the 2016 CUSTOMER Product of the Year Award for its industry leading TCPA-focused dialing systems, The Four Clouds. LiveVox’s Four Clouds provides four on-demand outbound dialing systems that include one automated and three human-initiated dialing systems.
Achieves significantly greater levels of agent efficiencies by leveraging key cloud-enabled capabilities (e.g. The 2016 CUSTOMER Product of the Year Award recognizes vendors that are advancing the call center, CRM and teleservices industries one solution at a time. TMC’s CUSTOMER magazine premiered in September 2012 and is the industry’s new, definitive source for news, product information, and strategies for communications that engage customers and potential customers. The discussion is part of this year’s Consumer Relations Consortium (CRC) Consumer Technology Forum, an exclusive one day event, hosted by insideARM taking place today, Thursday, January 21st in Washington, D.C. On the session, LiveVox’s CEO Louis Summe states, “Over the past decade, the regulatory and political bodies have essentially flipped the core business models of contact centers from a focus on achieving performance to adhering to compliance. The Consumer Relations Consortium – (CRC) is a group of more than 20 Large Market Participants in the debt collection industry who proactively engage with regulators and consumer advocacy groups to bridge the gap of understanding and expectations often present between consumers and collectors.
SAN FRANCISCO, October 28th, 2015 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will join leaders from Neustar, Real Time Resolutions and FICO to provide a comprehensive discussion on the TCPA’s latest developments and corresponding impacts on consumer contact strategies at the 2015 Neustar Operations Summit taking place October 28th, 2015 in New York City, NY. The release of the FCC’s long-awaited Telephone Consumer Protection Act (TCPA) Omnibus Declaratory Ruling in July 2015 has left the industry with lingering if not even greater apprehension about what was once considered low risk dialing and consent strategies for in-house and outsourced consumer contact operations. On the Neustar panel, LiveVox Chief Evangelist, Dusty Whitesell says, “The success of today’s consumer contact center is heavily influenced, if not increasingly dictated by today’s rapidly changing regulatory environment. LiveVox’s Chief Evangelist and 20+ years operations veteran, Dusty Whitesell, joins Chief Compliance Officer, Jessie Skibbe, KirkpatrickPrice and legal expert, John Bedard, Bedard Law Group, on a panel discussing the specific challenges faced by the first party outsourcing industry as a result of latest FCC ruling. The open-forum based panel is followed by roundtable discussions amongst attendees and guest speakers on key issues of the latest FCC ruling.
SAN FRANCISCO, October 12th, 2015 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that its Chief Evangelist, Dusty Whitesell, will join Jessie Skibbe of KirkpatrickPrice and John Bedard of Bedard Law Group to discuss the impact of the July 10th FCC Ruling on first party in-house and outsourced strategies at this week’s First Party Summit taking place October 13th – 14th, 2015 in Minneapolis, MN. For those involved in first party outsourcing, the July 10th FCC Ruling not only caused apprehension about what was once considered low risk dialing and consent strategies for in-house operations, it also, in turn, added even greater risk exposure for creditors’ outsourced approaches.
On the panel, Whitesell adds, “Three months later, the ruling continues to be at the forefront of challenges faced by first party outsourcing issuers and servicers.
LiveVox Corporate Counsel Mark Mallah joins industry TCPA expert David Kaminski of Carlson & Messer to present key findings of the FCC ruling and how they may impact consumer contact approaches. On July 10, the FCC released its long-awaited Telephone Consumer Protection Act (TCPA) Omnibus Declaratory Ruling and Order. Webinar takes place Tuesday, September 29th at 3:00 PM Eastern, is available to HFMA members and non-members, and offers CPE accreditation. During this webinar, join legal and operations experts as they help webinar participants understand the key highlights of the FCC ruling, such as tracking cell phone consent, and the potential impact it may have on patient engagement and revenue cycle contact strategies. The purchase of consumer debt and the approaches taken to collect it have evolved with a changing consumer base and business environment.
SAN FRANCISCO, September 8, 2015 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will join leaders from SquareTwo Financial and Convoke, Inc. On the panel, LiveVox Chief Evangelist, Dusty Whitesell says, “The debt buyer industry has always been faced with its own unique challenges – the last five years have perhaps seen some of the greatest shifts and there is no sign of that slowing down.
SquareTwo Financial is a leader in the $100 billion asset recovery and management industry. Convoke enables web-based data and document sharing among organizations contending with sensitive, high-volume content.
The webinar takes place Wednesday, September 2 at 2:00PM (Eastern time) and is designed for agency operations executives and for revenue cycle managers in industries such as healthcare.
Panelists will discuss approaches to setting up and optimizing campaigns, with multiple tactics made possible by the rollout of LiveVox’s cloud contact center solution into Canada. Brian Hamilton, Operations Consultant at LiveVox, states of the event: “Agencies face increasing pressure to effectively complete outbound outreach and education while simultaneously increasing their ability to service incoming calls. SAN FRANCISCO, July 23, 2015 — LiveVox, Inc., a leading provider of cloud contact center solutions for enterprise operations, announced today that TMC, a global, integrated media company, awarded LiveVox with the 2015 Speech Technology Excellence Award for its enterprise-grade IVR capabilities that enable patient servicing centers to boost operational efficiencies and increase customer satisfaction.
The eleventh-annual Speech Technology Excellence Award, presented by CUSTOMER Magazine, honors companies who have demonstrated innovation in speech technology solutions that improve the bottom line for their customers.
LiveVox’s Cloud Contact Center Solution delivers dynamic Interactive Voice Response (IVR), which allows businesses to rapidly implement custom automation and self-service leveraging staff from any location. The Speech Technology Excellence Awards will be published in the June 2015 edition of Customer Magazine. Mike Bourke, Aspect SVP and General Manager, describes the advantages of integrating solutions with LiveVox: “Aspect EQ Workforce Management gives customers all of the benefits of cloud delivery, including being able to convert capital expenditures to operating expenditures, enabling rapid scalability, eliminating software and hardware maintenance, while providing the lowest possible total cost of ownership.
Using Aspect EQ Workforce Management with LiveVox capabilities, contact centers can take advantage of a rich set of advanced outbound WFM features such as multiple trial schedules for testing new outbound calling scenarios and complex employee preferences to accommodate agent personal schedules.


Aspect’s fully-integrated solution unifies the three most important facets of modern consumer engagement strategy: customer interaction management, workforce optimization, and back-office.
Webinar takes place Thursday, June 18, 2015 at 2:00pm CT and is available to HFMA members and non-members with CPE accreditation.
SAN FRANCISCO, June 16, 2015 – LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that it will join an operations expert from Adreima, in partnership with Healthcare Financial Management Association (HFMA), to provide insight on shifting patient contact center approaches and operational process to adapt to changing business demands without resorting to expanding staffing requirements. The webinar takes place Thursday, June 18 at 2:00 CT and was created for healthcare professionals managing revenue cycle operations, patient engagement, and patient servicing. This webinar describes the driving forces behind, and new approaches to, managing the growing challenges of patient servicing, including rising DSOs.
If you are planning to attend HFMA ANI 2015 in Orlando FL, stop by booth 1131 to hear directly from the Adreima revenue cycle leaders or booth 1343 to hear from LiveVox technology experts. Adreima provides patient-centered, clinically integrated revenue cycle services to approximately 600 hospitals nationwide. They need to grow their businesses at a time when forces inside and outside their organizations make that task much more difficult.
But their confidence level has slipped dramatically since our last survey in 2010, amid a slower recovery than many anticipated—and with some additional new challenges. Having maximized the benefits of such cost-cutting tools as Downsizing and Outsourcing, many are now scouting for new and creative approaches to cost reduction to help them fund investments or meet earnings targets. The results this year, as in the past, provide instructive insights into what is working and what is not, as well as what is on the minds of executives around the globe. For example, while executives in all regions have lowered expectations for their industries, only half of North American executives are optimistic about improving economic conditions in their industries—a decline of 20 percentage points since 2010. When asked “What is your organization’s most important priority over the next three years?” executives cited revenue growth twice as often as the second most cited priority (see Figure 4).
A majority of those surveyed were confident in the capabilities they’ve had in place to help them grow: for example, in their ability to adapt to change, to innovate and to use social media to improve customer relationships. As the recovery drags on, more executives acknowledge a tough macroeconomic environment, with particularly stiff headwinds in Europe, which will require a disciplined approach for revenue growth. Roughly half of all executives feared a cyber attack would greatly impact their business (see below, “A growing concern: Cyber attacks”). Half of the respondents believed current information technology systems constrain profitable growth.
Price transparency affects revenues in two ways: Companies have less flexibility to boost prices and customers are more easily lured to lower-priced competitors. Despite their resources and influence, executives at larger companies were more likely than their counterparts at midsize or smaller companies to say customers were less loyal to their brands.
The Millennial generation has entered the workforce and is making its presence felt, with new demands that executives must take seriously.
When asked about the prospects for improved conditions in their industry, leaders in media and entertainment, consumer products and manufacturing companies were most optimistic; those in healthcare, pharmaceuticals and biotech, and utilities and energy were least optimistic (see Figure 6).
In recent years, Customer Relationship Management emerged as an important investment priority. At a time when record numbers of companies are investing more in ways of tracking and improving customer loyalty, two-thirds of our respondents indicated that customers are becoming less loyal to any one brand. Half of the executives—up slightly from 2010—believed that insufficient consumer knowledge hurt their performance.
As already mentioned, executives are feeling pressure from their youngest employees to change their processes and culture.
As we mentioned, nearly half of the executives surveyed said their IT systems are hampering growth—65% told us their IT spending as a percentage of sales must increase over the next three years. Six in 10 companies said they will invest in sustainability initiatives even if it raises their costs—an increase of about 16 percentage points since we first asked the question in 2008.
Among respondents, the number who mentioned cost-cutting as a priority more than doubled in 2012. In too many cases, cost-cutting initiatives put in place during the downturn either fell short or crept back in. These tools took a heavy toll on corporate cultures and often hurt, rather than improved, stock performance.
Zero- Based Budgeting, the broad-reaching cost transformation effort that takes a starting-from-scratch approach to resource planning, topped the list of tools that business leaders expect to use more of in the future. The variations by region reflect differences in business objectives and economic realities.
Executives there relied on Customer Relationship Management more than on any other tool, demonstrating their interest in increasing customer value as a way of capturing more growth opportunity.
In all regions, we’ve consistently found that when tools are used as part of a major effort, they achieve better satisfaction scores than limited efforts. For example, Big Data Analytics was below average in usage but above average in satisfaction.
In North America and EMEA, where companies are having the toughest time growing, Open Innovation and Satisfaction and Loyalty Management rank among the top tools they expect to increase usage of in 2013 (see Figure 11 for a global ranking of expected change in tool usage).
That means using the right tool in the right way at the right time, relying on the research and talking to other tool users. As part of our survey, we also ask executives for their opinions on a range of important business issues. The most concerned are executives in Latin America (61%) and Asia (59%); the least concerned are those in North America (43%) and EMEA (47%). Bain has found that leadership is determined by having a secure strategy, a chief security officer and by constantly reviewing and evaluating the effectiveness of security measures.
LiveVox enables fast deployment of contact center solutions from the cloud, while offering customers full control to manage their day-to-day business requirements in a cost-efficient way. Founded in 1919, CBA provides leadership, education, research and federal representation on retail banking issues. From risk-mitigation to agency performance, technology is changing how businesses achieve their competitive advantage. The summit offers leaders a unique opportunity to network and share insight in an intimate setting where the educational sessions are designed to be discussion-based and optimize interactions amongst participants. That may no longer be true as a changing consumer base and compliance environment compound agency management requirements and force a more pro-active approach.
Learn how some leaders have adapted to such compounding costs and complexities in other industries that leverage outsourced agencies. Retail banking is facing an unprecedented and compounding challenge of catering to an increasingly more demanding consumer base while simultaneously adhering to a rapidly changing regulatory environment.
The nation’s largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding well over half of the industry’s total assets. LiveVox’s Four Clouds is an array of risk mitigation dialing systems that provide the flexibility and speed needed to cost-effectively optimize the tradeoff between risk and efficiency for each business requirement.
The award highlights products which enable their clients to meet and exceed the expectations of their customers.
Each issue of CUSTOMER includes news and insights on the latest developments in agent training, analytics, ERP, IVR, social CRM solutions, mobile apps, workforce management and more.
This new reality has redefined success as the ability to dynamically balance legal exposure and expense.
The session will provide attendees an exclusive opportunity to learn about the latest ruling and its impact on the customer experience from the unique insights of operations, financial services, and technology experts.
The panel of legal, operations, and audit experts will help provide a comprehensive view of the ruling’s impact on the first party industry followed by roundtable discussions on key issues.
LiveVox has been working directly with business leaders on both sides to help develop solutions to first-party challenges, such as agency compliance management. The attendees include senior executives from credit grantors and call center executives across multiple industries. Speakers from organizations such as Sprint, Citibank, Vectren, Vanderbilt University Medical Center, and DIRECTV reflect the diversity of the industries that will be represented. The order arguably both clarified and confused the circumstances in which contact centers can contact consumers on their cell phones.  This is particularly disconcerting because not only 60-75 percent of the phone numbers provided by patients are cellular numbers, but also more than 85 percent of contacts with patients are made using cell phones. As a result, debt buyers have had to adapt to those rapid changes by becoming smarter, faster, and more efficient in a relatively short period of time. LiveVox enables fast deployment of contact center solutions from the cloud, while offering customers full control to manage their day-to-day business requirements in a cost efficient way. Since 1994, the company and its subsidiaries have helped more than two million individuals and businesses resolve their outstanding financial obligations.
It’s becoming the trusted means to distribute and transparently manage valuable, compliance-critical content to multiple partners and stakeholders. Businesses must take a holistic look at how they use technology and shift their processes to facilitate faster resolutions and smarter agents. Since that time, the company has concentrated on making its receivables management operations dynamic, transparent, responsive and effective. By utilizing automation and self-service, patient servicing centers are able to optimize workforce efficiency by ensuring that staff are focused and trained primarily on servicing moderate to high difficulty calls while patients are empowered to more directly resolve common servicing needs. Such advancements facilitated by LiveVox’s cloud technology have proven to help healthcare revenue cycle operations increase recovery rates and overall customer service levels while avoiding the budgetary pressures of additional staff.
Through a full suite of cloud, hosted and hybrid deployment options, we help the world’s most demanding contact centers and back offices seamlessly align their people, processes and touch points to deliver remarkable customer experiences.
Panelists will also cover other obstacles surrounding the new demands of and expanding patient engagement model, including patient education, enrollment, self-pay, and multi-channel. This unique approach combined with the deep connections we build with our clients helps them achieve results by recognizing the full value of services provided. Having pinned their hopes on a relatively swift recovery, many global business leaders are coming to recognize they may have been overly optimistic. As a result, 55% of executives we surveyed are concerned about meeting their earnings targets in 2013 (see Figure 1). Survey results show that the need is felt most acutely by leaders of large companies in North America and Europe. Only 43% of Europe, the Middle East and Africa (EMEA) executives see their industries improving. In some regions, executives perceived conditions that could significantly improve growth—for instance, 78% of leaders in Brazil and 83% in Mexico said economic conditions in their industries were improving. Pricing was a major concern, with some indications that business leaders saw customers becoming less loyal and putting price above other considerations. And 6 out of every 10 respondents said that the complexity creeping into their organization raises costs and hinders growth. Among executives surveyed, 67% said they believed their customers had become less loyal to their brand. Sixty-nine percent of respondents said their youngest employees are pressuring them to change their culture and processes. Now it may be more critical than ever, as executives see signs of diminished customer loyalty.
For many, that creates pressure to reduce prices or to invest in greater innovation and differentiation to strengthen their devotion. Relatively few executives found it satisfactory: It ranked 22nd of our 25 tools in satisfaction. That concern is highest in Asia, where 79% of surveyed executives reported experiencing such pressure. But we also see evidence that the solutions aren’t easy to come by: Employee Engagement surveys ranked 22nd among all 25 management tools in satisfaction.


Our consumer surveys show that the overall experience of dealing with a company often matters much more to customers than price or brand. The majority—63%—also saw excessive complexity as a challenge, highlighting the need to invest in improvements designed to streamline complexity in its many forms, including products, organization and processes. Many companies started their sustainability initiatives with win-win efforts that can save money while also demonstrating an environmental awareness to customers who increasingly look for such a commitment. Cutting costs will allow them to make investments and help reach earnings targets, which 55% of our respondents are concerned they won’t meet this year. A previous Bain survey looked at the experiences of nearly 300 companies that relied on a variety of cost-cutting initiatives during 2008 and 2009.
Another cost-cutting tool that will gain popularity, according to our survey is Complexity Reduction, which helps companies simplify their strategy, organization, products, processes and IT. While it reflects, in part, the mix of tools we include and people we survey, there is also an important underlying message: Given the challenges to growth and the competing demands for investments, companies now take a more thoughtful and strategic approach to tools instead of jumping on the latest tool fad.
By contrast, executives in Latin America favored Business Process Reengineering, hoping to make the most of a relatively robust economy by improving productivity, cycle time and quality. Based on our experience with tracking tool use, when satisfaction is high but usage is low, usage tends to grow. In Asia-Pacific and Latin America, Zero- Based Budgeting—a cost cutting tool—showed the greatest expected increase in usage. When pursuing revenue growth in an uncertain economy, it never pays to buy into hyperbole and simplistic solutions. The tools included in our survey must be topical and measurable, and they need to be relevant to senior management. Among the critical elements: The security strategy should be developed from a business perspective, rather than an IT point of view, and security behaviors need to be embedded in the organizational culture.
This is particularly concerning since the July 10th FCC Declaratory Ruling already expanded TCPA exposure.
CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business. Those that fail to adapt may not only face a decline in customer satisfaction amongst an increasingly fickle customer base, but also risk a diminishing buffer against an increasingly convoluted compliance environment.
To remain a competitive, retail banking business, historically a slower moving sector, must be able to evolve, and evolve quickly.
CBA provides leadership, education, and federal representation on regulatory and legislative issues, especially the CFPB.
Key to our ability to do so has been our continued dedication to working closely with legal and operations leaders in the ARM industry and beyond.
The three human-initiated systems were designed to meet some of the strictest levels of risk mitigation as informed by FCC rulings, relevant court cases, and industry experts while also incorporating key CFPB focused dialing controls. Understanding the variables that impact legal exposure and expense are the first steps in developing a strategy to optimize the balance for success in today’s new reality. The ruling while helping to clarify some concerns, also arguably created even more confusion around what is considered compliant consumer contact approaches. I am excited to be joining experts such as Jessie and John in helping shed greater light on the matter and help drive knowledge sharing amongst attendees.
In addition to helping leaders shape risk mitigation strategies, Mallah has also been a key speaker at numerous financial services and ARM industry events alongside industry legal and operations executives. These figures may become even larger as younger and more multi-channel focused patients move into the healthcare arena as a result of changing demographics and the Affordable Care Act. The panelists will walk attendees through some of the most significant market shifts that have impacted debt buyers as well as the forward thinking operational approaches that have helped improve their ability to service consumers.
SquareTwo Financial is a prime example of how large companies can not only accomplish that, but continue to stay ahead of the curve. SquareTwo Financial’s collection agency, Fresh View Solutions, works with consumers to repay their financial obligations. Solid performance over the past 50+ years has brought rapid and healthy corporate growth that continues today. The immediate response has been to onboard additional staff, but that approach is not only unsustainable, it is not an effective solution. Adreima realizes these results for each client by our insightful analytics, and taking measured action to improve outcomes. With more realistic expectations, executives are taking a more focused approach to the management tools they use to guide their businesses—using fewer tools to pursue revenue and profit growth, but using them more strategically.
The survey responses also reveal some of the major challenges that make growth difficult to achieve—from price transparency (which constrains the ability of companies to notch up prices as demand improves) to healthcare costs that executives say will make it more difficult to boost their ranks.
By comparison, 80% of Latin American and 67% Asia-Pacific respondents express optimism about the future of their industries—reflecting expectations that the path to revenue growth will be easier in emerging markets than in advanced markets (see Figure 3).
For example, almost 60% said healthcare costs will significantly affect the number of full-time employees they will be able to retain over the next five years. Smaller start-ups see an advantage in customers’ wavering loyalty because it allows them to steal share and grow from larger, more established companies.
Armed with new evidence proving the link between motivated employees and customer loyalty, business leaders are prioritizing investments in employee engagement. More than any other industry, consumer products executives reported that they had experienced a reduction in brand loyalty.
At that time, companies had a choice: They could abandon their efforts, making CRM little more than a fad, or focus on making their existing investment pay off. Disengaged employees result in high employee turnover and in the need to invest in hiring, training, compensation and benefits. In industries with a big service component, such as home insurance and retail banking, it may matter even more than product features alone. More and more hotels, for example, are asking their guests if they would like their linens cleaned every day.
Fully 40% of the executives surveyed, who sought to reduce costs by at least 10%, acknowledged their failure to achieve their goal. For example, Bain research during 2000–2001 revealed that companies with few or no layoffs delivered significantly better stock performance than those with large numbers of layoffs. With so few tools, during a period of unpredictability, it becomes critical to zero in on the ones that will deliver the greatest benefit. But the tools they favored to grow in their sluggish economies reflected distinctly different management priorities. The tool was not nearly as popular elsewhere in the world, where it didn’t even make the global top 10 list.
Mergers & Acquisitions tied as the fifth-highest-rated tool when used as part of a major effort, but tied for 21st when used on a limited basis. When usage is high and satisfaction is low, usage tends to drop in line, unless the tool improves—as was the case with Customer Relationship Management. And more than anywhere else in the world, executives in Latin America told us they will be increasingly turning to Outsourcing and Downsizing in 2013. By tracking the tools that companies use, the circumstances under which they use them and the degree of managers’ satisfaction with the results, we’ve been able to help companies make better choices in selecting, implementing and integrating the most effective tools for improving their performance. While many executives are confident in their organizations’ security capabilities, he says that most, in fact, don’t meet the leadership criteria for security management. What are the top regulatory trends placing banks at risk this year and how can they adapt their agency management practices to minimize exposure and control audit costs? Leaders must be able to make smarter decisions and this is where business intelligence & analytics have become a differentiator. Membership in the organization highlights LiveVox’s continued dedication to providing the financial services industry with solutions that balance legal exposure, productivity and expense in today’s hyper-compliance-focused environment.
Being able to manage those impacting factors are fundamental to the execution of that strategy. This lack of clarity has resulted in compliance challenges to contact center operators as well as the clients they serve.
I am excited to be able to share how they and other industry leaders have utilized technology to leverage automation and big data to improve processes and people in order to better service consumers”. The company’s Fresh View Funding debt ownership team works with banks and other issuers of credit to purchase unpaid debt. It means streamlined third-party interaction, improved operational efficiency, and welcome reassurance in the face of ongoing regulatory pressure.
Businesses must take a holistic look at how they operate and shift their processes to facilitate faster patient resolutions and smarter agents.
Our experts continuously translate the market to help you achieve compliance and regulatory readiness. That issue, in combination with the uncertain economy, may hurt US companies more than companies in other countries. They told us they are compensating for long-delayed investments to upgrade information technology and to tackle complexity in their organizations. The real test will come when customers push companies to expand sustainability efforts beyond those that save money to those that cost money. Among the key lessons we’ve learned over the past 20 years is that executives need to champion an enduring strategy, find the right tools and then adapt the tools to the companies—not vice versa. In North America, the most widely used tool was Employee Engagement Surveys, designed to improve employee morale and, by extension, productivity, retention and customer loyalty. Utilizing big data was not a common practice in collection and recovery contact centers because the cost barrier was simply too high – but that is no longer the case. This is where cloud technology has played a significant role in our clients’ ability to remain competitive.
Mallah joined LiveVox in 2010 with more than 20 years of wide-ranging legal experience spanning commercial transactions, compliance, litigation, and law enforcement.
SquareTwo Financial and all of its subsidiaries are committed to delivering the Fair Square Promise – the company’s internal commitment to treat every customer with fairness and respect. When asked if and how their employee numbers would change by 2015, 28% of companies said they will increase the number of employees they have in North America, but 26% said they will decrease. Companies are responding vigorously to growing demands for sustainability, even at the price of increased costs. In EMEA, Balanced Scorecards—a tool that helps companies measure and improve managers’ performance—topped the list. LiveVox’s cloud technology has dramatically reduced the cost of entry for utilizing business intelligence & analytics and we are seeing it uncover operational insights like never before. By comparison, in China 33% plan to increase, while only 16% expect to decrease (see Figure 5). One of the lessons companies have learned is that, over time, improvement in both technology and user sophistication have increased performance. The format is shaped to ensure an intimate and interactive discussion on both topics by providing two opportunities to meet with the experts.



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