Predictive Dialer Featured Article

Three Ways Companies Are Ripped off by Credit Card Processors



True, Congress is approving an unspecified limitation on debit card fees to merchants, but officials of IdealCost.com say they are "ignoring several ways in which credit card processors are costing businesses across America millions of dollars through deception and outright lying."


IdealCost.com president and self-styled "merchant rights advocate" Robert Livingstone consults on reducing credit card acceptance fees for merchants without switching their existing processor.

He offers the top 3 ways businesses are deceived by credit card processors:

Predatory telemarketing. "Aggressive telemarketers are confusing business owners by claiming that they are from the merchant's existing service provider, a wholesaler of lower rates, or an objective compliance officer from the credit card company. These are all deceitful sales tactics."

Deceitful and disappearing sales reps. "There is no license required to sell credit card processing, unlike other sales industries such as insurance and real estate. Therefore, reps have the incentive to say anything they need to get the deal done and are often impossible to track down after the contract has been signed and they have collected their commission. Often the merchant's rates go up instead of down."

Cryptic billing. "Often card acceptance fees are debited on the 1st of the month, but most businesses receive their merchant statement between the 7th and 14th of the month. In addition, trying to read a merchant statement is virtually impossible as it is really endless pages of random numbers and industry jargon. Merchants really have to trust that they are billed correctly by their processor."

Livingstone says he can "guarantee that virtually every business in the country has experienced at least one of these problems at least once. His company represents the merchant rather than acting as an agent for the banks or credit card processors, performing merchant account audits and offers consulting services.

Michael Henochowicz, president of OPC Marketing, told TMCnet in a recent interview about how the recession has affected the company’s performance.

“Naturally people did stop purchasing,” Henochowicz said, adding that with the company’s customer base being largely in the sales area, OPC saw many companies feeling the effects of the recession by letting many employees go. However, while some purchasing was diminished and employees were laid off, companies needed to turn to technology to compensate for the lower number of workers.“Because our systems are set up where we don’t have to go in and install [and they’re] preconfigured, and the customer actually installs it themselves, they can be up and running within an hour,” Henochowicz said. “So, there’s no out of pocket expense for them, companies were able to use less people to create a lot more.” 


David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.

Edited by Marisa Torrieri
 

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What Are Related Definitions You Should Know?

Related definitions that you should know as you increase your understanding of predictive dialers include:

Dialer: generic term for any computer-driven device that places outbound calls and connects the answered calls to an agent or operator.

Agent: telephone professional to whom a predictive dialer sends the ready call.

Predictive Dialer: Predictive dialing was introduced for the purpose of increasing efficiency within calling centers. They are computer based system that automatically dial groups of telephone numbers, and then passes live calls to available agents. The SpitFire Enterprise dialer utilizes sophisticated algorithms to speed up and slow down the call rate based on, number of available agents, number of available lines, the campaign’s average call time and other statistical information.

Quick Connect: Quick Connect allows your agents to log in one-to-one with a phone line. This option is great for B2B purposes, especially when your agent needs to be on the phone line through the entire call.

Fixed Dialing: Fixed Dialing gives your call center manager the power to manually set the volume of calls. The software will then automatically dial a predetermined number of lines per agent. Fixed dialing is ideal for political campaigns, charity campaigns, and other situations drop call ratios are not a factor.

Auto dialer: makes thousands of calls screening for busy signals, no answers, fax machines while detecting answering machines/voicemail and delivers pre-recorded messages. SpitFireX Auto Dialer is a low cost solution for voice broadcasting.

How Do Predictive Dialers Work?

Predictive dialers use complex mathematical algorithms that calculate, in real time:

  1. the number of available agents
  2. the number of phone lines available
  3. the probability of reaching a human being at a specific number
  4. the time between calls required for optimum agent efficiency
  5. the length of typical agent/customer or
    debtor conversations
  6. the average length of time agents require to wrap up after a call

SpitFire Enterprise Predictive SEP is a fully blended call center solution that supports unlimited lines, agents, and campaigns. Its greatest strength is in its flexibility: multiple campaigns can be set up, viewed, and changed with the click of a button. With easy options for customization, data and dispositions can be catered to each campaign. In addition to our user-friendly interface, SEPhighlights full customer data and combines multiple campaigns on one screen. All the information your agents need is accessible at a glance, freeing their energy to focus on what matters: the calls.

Keep It Simple with SpitFire Fully Integrated Call Center Software

Our greatest priority is making your call center run smoothly, and we do that by developing software that is intuitive and easily integrated with your current systems. SEP works seamlessly with most CRM applications and long distance carriers, making it the simplest and most cost-effective solution for your call center.

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Benefits of Using a Predictive Dialer

  1. Manages the process of dialing tens of thousands of calls or tens of millions of calls in its lifetime.
  2. Detects the result of the call, as an example: no answer, busy, fax, bad number, answering machine without any presence of human expertise. Consequently saving time by only transferring calls which are voice connects to the agents locally or remotely.
  3. Using predictive dialer increases the productivity of the company by drastically increasing the time agents spend on the phone talking to actual customers or prospective clients.
  4. Predictive dialer users get the ability to organize and better manage the client information, no lost notes scribbled on pieces of paper. The database used by the dialer organizes the calling structure.
  5. The most significant task done by the predictive dialer is to predict, which means always making an effort to get a live call to the available agent with the shortest amount of wait time. This is achieved by self learning algorithms within the predictive dialer to increase or decrease the dial ratio per agent, logged into the system.
  6. Inbound call can be better dealt with by allowing the customers to wait on hold in an IVR system, or a way to leave a message they'd like a callback while the agent is busy talking with other customers.
  7. Most important benefit of a predictive dialer is it reduces expenses for your company over a period of time since you do not need to buy and deploy a complex and sometimes extremely expensive PBX system. Your company will experience return of investment (ROI) in a period of six to twelve months.
  8. A predictive dialing system can effortlessly fit into your companies existing infrastructure since it is software controlled.
  9. The call routing logic and the contact management is all included in one software package. Your call routing logic implemented as per your specifications. Since it is a software package it can easily be upgraded even if you are located remotely with the help of internet.
  10. Provides an added cost effective method of managing the client database by giving the user of the predictive system ability to rework your database on previous call results.

    Example:
    1. only redial records which were busy, no answers and answering machines
    2. Delete records which are bad numbers, disconnected numbers or operator intercepts
  11. Do a real time look up against the do not call database saving the predictive dialer user from accidentally calling people who have enrolled in the do National not call registry. This saves the company from lawsuits and others risks conforming to all legal statutes and FCC complaints.
  12. Provides progressive dialing capabilities like call blending which means handling inbound and outbound call at the same time.
  13. Provides ability to integrate call recording devices and call monitoring interfaces which helps call center supervisors to train agents and users and improve their customer support skills.
  14. Easy to setup and learn the predictive dialer logic and software tools.

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