Resolving complaints is an essential part of customer service organizations. This is why your support employees are so important, considering that even the most skilled contact center workers struggle to answer client concerns about goods or customer care. Moreover, this is another reason why a complaint management procedure is critical to the performance of a customer support and service department.
Why Use Complaints Management Software?
Phone calls, website pages, emails, and social media offer a way to file a complaint. However, what happens after that? How would customers keep informed? What steps do you take to ensure that the issue is resolved? How will you avoid future complaints?
Whereas spreadsheets are a popular approach to collecting data, problems occur when you wish to connect with the client or have numerous team members working on complaints:
- How can you tell whether another individual is focusing on a complaint?
- Are emails to and from the consumer recorded on the database, or are you required to scan email folders frequently?
- Do you employ a team of individuals who must simultaneously work on many complaints?
If you have questioned any of the following questions yourself, it might be time to adopt complaint management software, particularly when you and your staff need help to keep pace with who is doing what.
How Complaints Management Plays a Significant Role in Financial Institutions
Complaints in the banking sector have recently increased to the point that the government has intervened. Customers can register complaints with the Consumer Financial Protection Bureau (CFPB) if financial institutions cannot or are unwilling to settle their problems. Based on the CFPB site, the CFPB has examined over 800,000 complaints since around Jan 2016.
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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