Top Aspects to Consider Before Outsourcing Third Party Verification Services

Did you know that in the United States, third-party verification is not an option?

If you are a telemarketer in the U.S.A, then you need to hire an independent firm that can confirm that customer is either is requesting a change or ordering a new product/service.

Not doing so may force the telemarketing firm to face legal actions.

Yes, third-party verification is that necessary for businesses that deal in selling products/service over a phone call.

It is not a choice anymore for businesses but rather a standard for all sorts of transactions that are happening over the telephone.

Reading this, you might be thinking “I should also hire a third party for the verification process.” (If you are a telemarketer).

But wait. Do not make the mistake of rushing into the decision. Before you select one of the prominent third party verification services vendors, there are few factors that need your attention.

Being a business owner or a marketer, you should be asking few questions to your outsourcing partner. After all, you are handing over one of the most crucial functions.

Just imagine what would happen if your third-party vendor is incompetent. Apart from facing legal action, there can be a conflict between you and the customer (in which law will be siding with the customer) and your business’s reputation is going to see a dip.

Hence, it becomes paramount to consider the following aspects before finalizing your third party vendor. Let’s take a look:

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What is the genre of the TPV Company? How will it help you?

In the market, you can find a number of third party verification companies. Some of the companies are providing the verification services via live operators, while others are providing a fully automated option.

Few of the vendors are also offering solutions with an amalgamation of both (live operator and automation).

Hence, keep a close look on what sort of TPV Company you are going to get tied up with.

For a third-party verification company to serve your customers without any interruption, it is quintessential that it possesses carriers, multiple dialers, back-up servers and back-up generators.

Check the reaffirm rate

Reaffirm rate is the percentage of sales that really gets verified. It means if your customers make around 100 orders, how many of these can actually get verified.

The market standard is the reaffirm rate of 84%. So, if the vendor providing third party verification services offers you anything less than that, seek other options.

Another intriguing aspect is the hold time. Being a business owner, you should account for the time your customer is waiting on hold during the verification process.

A competent TPV Company is supposed to make your customers hold for not more than 10 seconds.

Examine the client portal and reporting dais

Ensure that you go through the client platform of your outsourcing partner and assess the complete sales verification process.

You can always request your outsourcing partner to present a complete report of the verification process with proper charts and graphs.

Seek the training process

Sometimes the agents that are doing the verification process miss some crucial information that may prove fatal in future for the business.

Hence, before you select an outsourcing partner, ensure to go through the training process of the verifiers.

See how are they dealing with customers and what sort of training procedure is being implemented.

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Keep an eye on the team strength

It becomes highly significant to see how many people are employed by your outsourcing partner.

This will aid you in understanding if you are dealing with a small, medium or large third party verification company.

The gist of getting this information is to predict whether the vendor providing the third party verification service can handle the large volume of sales order you have or not.

You simply do not want to tie up with a company that is not able to match up your requirement.

The account management culture

If the company you are getting along with has an account management culture, it means good.

Generally, the firms that have account management culture like a B2B call center, it means the outsourcing team will actually care about your account and customers.

Such firms ensure to act in order to curtail the duration of TPV calls. Along with this, agents also give you a heads-up on the issues that are negatively impacting your sales.

Experience

See if the third party verification company you are tying up with is having some prowess in the field. If the company is experienced, try to get the list of previous clients.

This practice will help you to get an idea of the TPV Company.