Good customer service as part of risk management

The philosophy of allegiance to good customer service doesn’t always loom large in discussions of legal and regulatory compliance, but poor customer service certainly presents an organisational risk that needs to be managed in tandem with other operational matters.

Where there are examples of poor customer interaction and telephone communication there’s a chance that the number of complaints are less – but deterring consumers in this way does not fix any problem.  Good customer service identifies operational and/or product issues, allows management to provide solutions and so protects reputation and equally important keeps the customer happy.

A current newsworthy item is complaints to the Telco Ombudsman and in that industry compliance is part of customer service; the revised Telecommunications Consumer Protection Code came into effect on 1 September, a part of the code is for telco suppliers to work towards the preparation and implementation of compliance framework in relation to this revised code. It goes without saying that telco customers can change their service provider, however this principle applies to continuing or terminating relationships with other suppliers.  In simple terms, a loss of a customer is a loss of revenue, wherein lies an element of the risk.

Compliance Essentials can assist your business with risk management and compliance strategies; contact us on 1300 602 880 for an initial discussion