Innovative Compliance Software Platform for Sales Agents in Stores & Call Centres

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This project addresses the major problem of mis-selling to consumers by call centres (CCs) &in store sales agents. Mis-selling occurs due to high sales targets & lack of productknowledge/poor diagnosis of customer needs. Prevalent across many sectors, in particularfinancial services & energy/utilities, mis-selling has led to a lack of trust, competition tomaintain mkt share & increased overheads due to non-compliance compensation. 6% of UKcalls & 5% of US calls received by CCs are complaints, with 80% & 77% of theserespectively being about mis-sold or mis-advised products.Solutions exist that attempt to help sales agents comply with regs in order to avoid mis-selling(e.g. guided selling techs & behavioural analytics), however they have significant drawbacks:ltd application, expensive, lack of integration, no regulatory checks, inability to configureexpensive legacy systems.To address mis-selling & trust issues & to take advantage of the significant businessopportunity that exists, Cinergy plans to develop a versatile, highly configurable softwareplatform ‘S+’, which allows agents to give guided choice in a prescribed manner, istransparent& driven by compliance at every step of the customer journey.The value of the tech is recognised by major players who demand new solutions to meetgrowing consumer & compliance expectations. The project builds on a PoC prototypedeveloped in 2014 – trials demonstrated a 90% improvement in compliance & reduction inmis-selling. Cinergy will develop a suite of structured software tools which help the salesagents to avoid mis-selling, comply with company regs & transform the customer buyingexperience. The tech will initially be targeted at the energy/utilities & financial sectors, the 2major industries mis-selling affects & Cinergy have an existing route to mkt. A wider roll outto other industries (including telecoms & retail durable goods) is envisaged in the mediumterm. Mkt entry in 2016.