Why Compliance is Central to Good CX

Why Compliance is Central to Good CX

Source: https://www.voxbone.com/blog/compliance-good-cx/

Author: Hayley Rodgers

Enterprises are busy embracing the cloud on their transformation journey, but failing to stay compliant is an obstacle for brands that rely on delivering a great CX strategy.

If you’re leading a transformation project, then you may have already faced a host of legal challenges along the way. And in light of policies like GDPR, there are increasing concerns around reliability and compliance. If your communications provider is not compliant, their services are at risk of being shut down The implications of disconnected phone numbers on the CX you provide can be costly to say the least.

Compounding the issue is that communications services must comply with local laws that vary from country to country and are only becoming stricter over time. The only way for a provider to guarantee a stable, available service in the long term is to ensure they are 100% compliant with ALL local regulations in every market.

The alternative is what we call ‘yo-yo coverage’. Countries are constantly lost only to reappear after providers have scrambled to meet their regulatory requirements in a given market. But by that point, the damage to your business has already been done if you’re left without a service for any length of time. Our analysis suggests that a typical cloud provider loses as much as 30% of their coverage (temporarily or permanently) in a given year. Yo-yo coverage indeed!

As the regulatory compliance screws tighten, don’t let non-compliant providers halt your CX journey. Businesses need to ensure they are proactively managing risks that could interfere with business growth. To stop the coverage of your voice services from going up and down like a yo-yo, it’s important to work with a fully-compliant provider. If you take regulatory shortcuts you risk:

Service downtime

We expect our apps and services to work anywhere, any time with the same quality. By failing to make compliance a priority, your voice or SMS services can become blocked or disconnected with customers experiencing dreaded downtime. Now, imagine a customer dials your number only to be told they cannot get through, it will impact their experience and they’ll look elsewhere for their service.

Lost revenues

If your prospects and customers are struggling to get through to you on the call, you’re at risk of losing revenue. Most businesses can’t afford to have their service disconnected without warning, so by working with a provider that cares about compliance, they can ensure your voice services are always-on and reliable.

Negative CX

Negative CX can lead to a greater risk of customer churn. If your customers have had a bad experience they’ll often look for providers who can offer them a seamless, always-on service. That means there’s a lot of companies facing regulation-induced time that directly impacts their customer’s business.

Poor brand perception

By failing to stay compliant, you may put your business at risk of having a bad rep. But by working with a fully-compliant provider you can rest assured that your voice and messaging services will always remain available, with the added benefit of creating new marketing opportunities for your brand around reliability through secure, compliant comms with customers.

Increased marketing costs

If your phone number gets cut off, there’s the added cost and inconvenience of needing to update your marketing materials. If you lose access to a number by not complying to local laws, you need to update all your collateral with new phone numbers, which can become costly and confusing. Not to mention the fact that regulators may eventually reallocate disconnected phone numbers. So you might find one day that your old phone number is connecting customers and prospects to an entirely different business.

Hefty fines

Although this won’t directly impact your customers CX, you run the risk of generating huge fines from regulators by refusing to stay compliant. On a single number, this can hit a fine of six-figures. That means less money in your back pocket, to put towards making great CX happen.

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To find out more about compliance best practice for UC, why not Register your interest here? For UC EXPO 2019!

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