INNOVATIVE BPO FEATURED AT FINTECH CONFERENCE
When it comes to technology and innovation, ERC never says, “We can’t.” Instead, the Jacksonville based BPO simply asks, “Why not?”
Since their founding, ERC has been a forward-thinking company that uses technology and innovation to challenge the status quo and become a trailblazer in the industry. That mindset has been a catalyst for their global success.
So it was no wonder that Jax Tech invited ERC to speak at their quarterly FinTech conference, held at Jacksonville’s Museum of Science & History on March 21.
Highlighting technology and innovation in the local business community, Jax Tech uses meetups and interactive presentations to bring together Jacksonville’s brightest to learn, share and collaborate.
This particular event focused on financial technology, commonly referred to as FinTech. There, ERC’s President and CEO, Marty Sarim, and Chief Technology Officer, Christopher Wolff, shared how ERC uses financial technology to optimize, scale and enhance the business.
“Technology has been a cornerstone of ERC, and that’s something we’re really proud of,” said ERC’s President and CEO, Marty Sarim.
One of the first to use data for segmentation and modeling in the financial recovery field, ERC created algorithms that predict and forecast to drive strategic behavior. ERC has also leveraged technology to relieve employees of mundane tasks and improve efficiency.
ERC even created a team whose sole purpose is to dream up tomorrow’s innovations. Named the Edge Team, the think tank concepts creative ways in which ERC can gain a competitive edge and deliver better results for their clients.
“We realized that you can’t have employees do day-to-day activities while working on future technology and trying to tackle large projects. So we created the Edge Team,” said ERC’s Chief Technology Officer, Christopher Wolff.
One of the team’s initial concepts was EVA, ERC’s new virtual agent. Using machine learning and advanced artificial intelligence, EVA specializes in inbound calls and can assist with wrong numbers, wrong parties, payments and specialty accounts, such as dispute and fraud.
The virtual agent is the first of its kind in the accounts receivable management industry and is fluent in both English and Spanish.
EVA is also designed to provide 24/7 customer support. Through customer messaging and selfservice options, EVA will help to alleviate the need for calls to customer service and allow ERC’s live agents to focus on more complex issues.
“A whole lot of work went into building application programming interfaces that can communicate with our system, so when EVA is talking to a customer, she’s able to fulfill whatever needs they have,” said Wolff.
ERC is also using machine learning to improve mailing and dialing strategies. The technology analyzes data to make mailing more efficient and cost-effective, while their dialer strategy program analyzes approximately 4 million calls a day to reduce agent wait times and call times by 20-30%.
Always looking ahead, ERC is already working on future innovations. Upgrades to their groundbreaking virtual agent will enable EVA to handle even more tasks, such as outbound calls and real-time Q&A. Virtual employee training is also on the horizon. This will allow for on-site retesting and larger scalability, with less reliance on traditional classroom training.
The global BPO has no plans of slowing down and will continue to use technology and innovation to stay ahead in an ever-changing industry.
“We want to keep on top of it and keep moving the ball, so we always have that competitive edge,” added Wolff.
ERC is an agile, technology-driven company that provides business process outsourcing (BPO) and account recovery services for Fortune 500 companies. ERC leverages the latest innovations in technology while providing extraordinary workforce resources to deliver unparalleled end-to-end customer experience solutions, making ERC a top performer for its clients. With offices spanning four continents and the best talent in the business, ERC is dedicated to changing the BPO landscape through its continued investment in artificial intelligence and data analysis, and its commitment to creating a highly trained, empowered workforce.