Microsoft Teams is an effective collaboration tool, and it is transforming the way millions of people work every day. That’s why companies, in their quest to reduce costs and increase productivity, are incorporating Microsoft Teams as a phone system for both internal and external use because of its out-of-the-box installation, scalability, affordability, and usability. With a single application, Microsoft Teams can support multi-channel communications including video, voice, chat and file sharing.
While it is undeniable that the adoption of Unified Communications as a Service (UCaaS) has been a benefit to businesses, there are highly regulated industries, such as finance, that face challenges with its use, such as ensuring strict regulatory compliance.
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The Microsoft Teams compliance challenge
In the current context, companies face the challenge of knowing and complying with complex and demanding regulations depending on the industry in which they operate or the location of the customers they do business with, such as MiFID II, GDPR, PCI DSS, Dodd-Frank Act or CCPA. These regulations have in common that they contemplate and require the recording of calls with customers to protect the user from possible abuses that may be carried out by companies.
For example, in the financial sector, both in the European Union and the United States, the regulations require the recording of commercial communications that lead to a transaction, whether they are via PBX, cell phones, video, chat, email, unified communication platforms or any other channel.
In addition, regulations are not limited to recording; financial industry regulations and others, such as data protection regulations, also require firms to securely store these communications for several years, as well as to be able to provide full reconstructions of transactions when customers or regulators demand it. In some cases, these reconstructions must be provided within 72 hours.
How to choose the right Microsoft Teams call recording provider?
Omni-channel and the benefit of centralizing all interactions on a single platform.
Companies must have a system for recording and storing all communications including Microsoft Teams calls, such as the one provided by the Recordia solution, which means not having to maintain and work in separate recording systems and databases, which contributes to an increase in efficiency and security as well as a significant reduction in costs.
Other benefits of using a single solution for recording communications are:
- Enable complete business conversations to be reconstructed and requests to be addressed and investigations to be completed within regulatory timelines.
- Capture and archive all compliance content.
- Ensure the same archiving and retention rules are applied across all communication channels to meet regulatory requirements.
What to consider when recording calls with Microsoft Teams?
Including Microsoft Teams calls in interaction recording solutions is imperative to meet the technical privacy requirements of the regulations.
But what should companies ask themselves when choosing a compliant call recording solution? Here are the key questions:
- What call recording regulations must your industry comply with? This could affect the functionality that your MS Teams call recording provider will need to provide you with.
- What volume of traffic should be recorded for audio, video, and chat calls? This is important as recording storage will be an important requirement.
- How do employees communicate internally and externally? For example, do employees use voice call features, video meetings, screen sharing, and MS Teams chat? If so, you will need to ensure that all these forms of interactions are captured, stored, and easily retrievable.
- Where will the recordings be stored? This is an important element to consider as some solutions may be better equipped and experienced in certain storage situations.
Complete conversational intelligence solutions such as Recordia allow capturing 100% of omnichannel interactions, including 1-to-1 calls, video calls, and Microsoft Teams conferences, where their custody is securely centralized on a single platform, avoiding that the recordings are scattered in other programs and that there are different rules, custody periods and traceability on the recordings, allowing companies to address numerous international regulations with a single solution.
Find out more about Recordia and its connector for Microsoft Teams by clicking here.