JACKSONVILLE, Fla. -- ERC, a global BPO and Collections company, was featured at Jax Tech's quarterly FinTech conference, held at the Museum of Science & History on March 21. Highlighting technology and innovation, Jax Tech brings together leading innovators 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 is investing in groundbreaking technologies to transform the Collection and BPO industries.
“Technology has been a cornerstone of ERC, and that's something we're really proud of,” said Marty Sarim, ERC's President and CEO.
One of the first to use data for segmentation and modeling in the financial recovery field, ERC uses their Edge Team—a think tank designed for dreaming up tomorrow's innovations—to gain a competitive edge and deliver better results for their clients.
One of the Edge 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 state-of-the-art agent is the first of its kind in the accounts receivable management industry and is fluent in both English and Spanish.
“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 Christopher Wolff, ERC's Chief Technology Officer.
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, the global BPO is already working on future innovations. Upgrades to EVA will enable her 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.
“We want to keep on top of it and keep moving the ball, so we always have that competitive edge,” added Wolff.
To learn more about the event, watch this quick video.
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.