Businesses have traditionally valued customer feedback. For various reasons, good complaint management is crucial. The most obvious explanation is that dealing with client complaints is a fundamental aspect of customer service. Most businesses, meanwhile, use complaint data for far more than merely responding to complainants. This information can indicate issues with service delivery, allowing the company to enhance its operations. Increased synergy in financial firms enables risk and compliance executives to go one step further and harness complaint data for insights and forecasts in their respective areas.
Advantages of Complaints Management System
- Providing the necessary levels of safety
- Increasing the effectiveness of complaint handling and client satisfaction
- Providing additional chances to improve
- Taking care of client issues while being compliant
- Providing information about your customer service team
Impediments to Effective Complaint Management
The usage of different software tools, including email, spreadsheets, shared files, CRM and ticketing systems, and so on, frequently creates impediments to compelling issue and complaint management:
- Unresolved complaints must be included due to a lack of insight into the issue.
- Multiple email channels used to address complaints cause confusion and delays between departments and among staff.
- Because complaints are prioritized manually, significant issues may be overlooked while minor concerns are addressed.
Predict360’s Complaints Management Solution
Predict360’s Issues and Complaints Management Solution provides first, second and third lines of defense the ability to manage more quickly and efficiently, track, collect evidence and collaborate on all compliance-related tasks, activities, issues, and complaints in real-time. Managers are provided with a holistic and real-time view of all compliance issues and tasks across the organization by site, business unit, and regulation. Key features include:
- Dynamic Dashboards with configurable views and segmentation
- Trend analysis to uncover complaints and issues insights
- Follow-up and resolution tracking for individual complaints
- Audit trails for enhanced accountability
- Progress tracking to monitor investigations and follow-up actions
- External complaint forms that auto-route to your compliance team and relevant stakeholders
- Priority ratings and automated notifications for critical information
About 360factors, Inc.
360factors empowers organizations to accelerate profitability, innovation, and productivity by predicting risks and streamlining compliance. Predict360, its flagship software product, is an AI-powered Risk and Compliance Intelligence Platform that anticipates and mitigates risks while facilitating regulatory compliance. Predict360 integrates regulations and obligations, compliance management, risks and controls, audits and assessments, policies and procedures, and training in a single cloud-based SaaS platform based on artificial intelligence to provide predictive analytics and unique insights for predicting risks and streamlining compliance. 360factors is the exclusively endorsed solution provider for compliance management by the American Bankers Association (ABA). Visit www.360factors.com for more information.
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