It is undeniable that companies face the challenge of knowing and complying with all the complex and demanding regulations depending on the sector in which they operate or the location of the customers they do business with.
However, in the current context, this recording is not focused on fixed-line calls but contemplates other types of devices and platforms that have become popular.
Teleworking was already beginning to become normalized in sectors such as IT; however, it was not until the crisis of Covid-19 that the adoption of remote work accelerated, whether it was to connect teams, provide consulting, service clients or even provide support.
453% increase in MS Teams active users after the pandemic.
Such was the urgency of the need to connect work teams that the increase in the use of other communication platforms such as UCaaS (of which MS Teams, Webex, Zoom, or Google Meets are part) or mobile calls was 41% and 57%, respectively.
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The importance of Unified Communications platforms (UCaaS) for compliance
Unified Communications as a Service (UCaaS) are helpful collaboration tools, transforming the way millions of people work. For this reason, companies are eager to reduce costs and increase productivity by incorporating Unified Communications platforms, such as MS Teams or Cisco Webex.
Benefits of UCaaS:
- Immediate installation
- Scalability
- Affordability
- Easy use
Companies should be aware that calls made through UCaaS must also be recorded and stored while the platform is being used to connect with customers, obtain their data and consent and provide services to them.
While it is undeniable that the adoption of unified communications has assisted businesses in improving efficiency, they are highly regulated industries, such as finance, that face the challenge of ensuring compliance with its use.
With the revision and publication of the MiFID II directive, the requirements for recording and storing interactions have increased. Thus, all those conversations that result in or may result in a transaction are required to be recorded and securely stored. For this reason, new complexities arise regarding the recording of interactions, and it is possible to lose track of when you are obliged to record.
For these types of companies, regulated by the FCA and MiFID II, UCaaS recording for compliance is critical. They must have complete recording solutions in place to ensure that all their communications – audio, video, file sharing, and chat – are captured and stored in their entirety to ensure they are compliant.
The benefits of MS Teams call recording
MS Teams call recording is an effective way to comply with these regulations. By recording all the conversations that take place on the platform, companies can ensure compliance with legal and regulatory requirements.
But MS Teams recording doesn’t just offer compliance benefits. Some of the most important reasons why companies should record MS Teams calls are:
- Legal and regulatory compliance: Companies operating in regulated sectors are required to comply with certain regulations that require the recording of voice calls. By recording these calls, companies can ensure compliance with legal and regulatory requirements and avoid potential penalties or fines.
- Dispute resolution: MS Teams call recording can be useful in resolving disputes or legal disputes that may arise in the future. By having a recording of the conversation, companies can prove what was discussed and avoid misunderstandings or false accusations.
- Improvement of service quality: By MS Teams call recording, companies can analyze them to identify areas for improvement in customer service or internal communication. This can help companies improve their processes and provide better service to their customers.
- Fraud protection: MS Teams call recording can also help companies detect and prevent fraud. If there is a suspicion of fraudulent activity, companies can review the recordings to identify fraudulent activity.
MS Teams call recording is essential for compliance and to protect companies in the event of legal disputes or potential sanctions. If your company operates in a regulated sector or wants to defend itself against potential legal risks, consider recording MS Teams calls as an effective and necessary solution.
Discover how to record MS Teams calls with a complete call recording solution, such as Recordia, by clicking here.