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Co-Sourcing Is an Option to Ensure Coverage in Smaller Contact Centers and Credit Unions

July 25, 2013
By Tracey E. Schelmetic, cobrowsingtechnology Contributor

While it’s critical for all call centers to have a disaster recovery plan in place – a way to continue to take calls in the event of a power outage, a storm, or other disaster – it’s particularly important for financial services companies. While a delay in ordering a sweater or a book might not completely sink a customer relationship (though it certainly won’t help), a financial services company that goes offline for even a few minutes can more than inconvenience customers.


Large banks usually have the kind of financial and structural resources in place to reroute calls to other call centers. But what about smaller banks or credit unions? These are often organizations that have a limited number of sites and no great amount of capital to work with. And it may not be just weather delays when it comes to business continuity, writes Steven Holmes of AnyHour Solutions on Credit Union Insight. It could be staff vacations or equipment malfunctions.

“In addition to major disasters, there are many ‘mini-disasters’ that are inevitable with any member service operation,” writes Holmes, who recommends outsourcing to solve the problem. “A good way to help alleviate the impact of these more minor, yet disruptive, events is to contract with a third party contact center outsourcer who knows your business well and can be available on demand 24/7 in the “background” to satisfy member requests (i.e., calls, emails, web chats),” he writes.

While many companies with sufficient call center resources for ordinary operations never consider outsourcing, it’s an all-or-nothing scenario. Third-party contact center services providers can answer calls, chats or e-mails only when required: a sudden spike in volume or a case of the flu that spreads through the contact center. In the industry, it’s often known as “co-sourcing.” Companies sign contracts with service providers that guarantee they will be ready at a moment’s notice to take calls of call overflows.

Considering that studies show 40 percent of consumers have stopped doing business with a company due to a bad experience with a contact center, smaller financial organizations simply cannot afford not to have a back-up plan in place.




Edited by Blaise McNamee

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