A Benchmark of Third Party Verification Practices

This is a first-of-its-kind study to benchmark Third Party Verification (TPV) practices in the U.S. Our research investigated the methods, procedures and metrics used by companies that have deployed third-party verification as part of their sales, customer care and fulfillment processes, and also among solution providers that offer these services.

Key Findings from the Research:

The transition from live agent to IVR verifications is underway; however, there is still continued demand for live agents in some business situations
Most calls are cold-transferred and computer-telephony integration (CTI) is not yet a widely adopted technology.
Script development and refinement is perceived as one of the most critical variables in attaining successful order rates.

Recommendations for the Successful Deployment and Use of TPV

Establish an SLA with the vendor;
Devote more time for testing the system and scripts before “turn on”;
Take the time to develop more effective training of live agents;
Improve scalability and efficiency in making changes to or starting a new campaign;
Ensure adequate planning for outgoing call capacity
Give more thought and time to tracking and analysis of statistics and call reports.

Perceptions of the Future of TPV

Most customer participants did not foresee substantial changes to TPV and how it will be managed in the future; they anticipate that technology will drive changes over the long term. Solution providers, as well as customers, envision:

A continuation of replacing live agents with IVR. However, easy access to a live agent will be critical to maintain high quality customer care in many organizations;
Improved automation;
An increase in using TPV for sales conducted over the Internet;
An increase in using VoIP technology;
Digital signatures as an emerging verification product

Download - Research: A Benchmark of Third Party Verification Practices

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