Are you currently offering an IVR option to your Consumers? Interactive Voice Response phone systems can drastically improve your efficiency and compliance. For those who don’t know, Interactive Voice Response ( IVR ) is a technology that allows a computer to interact with humans through the use of voice and tones input via keypad.

Imagine multiple Consumers call in at the same time, and they are all ready to pay their bill, the last thing you want to do is to impede this process. But can you service them all in a timely manner? With an IVR you can! IVR systems allow you to handle unlimited call volumes and your Cost Per Payment (CPP) remains the same.

Is everyone doing the right thing?

IVR systems are able to present CFPB best practices without fail. Any required privacy requirements and Mini-Miranda disclosures are shown consistently to every Consumer, every time. They virtually eliminate the possibility for human error. Your message can be based on the latest Rules and Regulations and dispensed to every Consumer who calls in. Technology leverages the playing field and allows for all of your “Agents” to be trained and brought up to speed in an instant.

Integrates into your existing system with ease

Your existing phone system can easily be updated to accommodate an IVR system. Agents simply transfer the Consumer to the IVR number to enter payment information. They negotiate the agreement and stay on the line to ensure the payment information is entered. Payments are processed instantly and post automatically to your Practice Management Software.

Leverage your existing Resources

IVR allows you to leverage the time and expertise of your Collection Staff. Instead of taking sensitive Debit/Credit Card information and entering it into a processing terminal, your Consumers input this information on their own. Instead of using your Collectors as Cashiers, use an IVR to handle the “basic payment” and allow your collectors to get back to addressing more comprehensive Consumer calls.

Security, Safety, Simplicity

There are several advantages to using an IVR system. First, security. Collectors never take possession of the actual payment information. They never hear or see the credit card information. With the requirement to record all phone calls, the payment information does not have to be redacted by special software. It is all entered by the Consumer.

Second, IVR systems are all about Self-Service and dramatically improve the Consumer Experience. They are convenient and simple. The easier you make it for people to pay, the more payments you stand to receive. Consumers can pay easily 24/7/365, by linking their account to a phone number, without the need to be in front of a computer or a smartphone.