Compliance, in many heavily-regulated industries like finance, can make or break a business. That, and the fact that you never want to compromise sensitive customer data or proprietary company information. Therefore, adherence to the various consumer data protection laws that exist, including GDPR, is compulsory.
The General Data Protection Regulation exists in the EU to regulate EU law on data protection and privacy within the European Union along with the European Economic Area. The policy also covers the transfer of personal data outside the EU and EEA areas. Other policies exist across the globe to protect consumer data, including MiFID II, PCI DSS, HIPAA, and eDiscovery.
Guy Yaffe, VP Recording Business Line, AudioCodes, told me about a recent AudioCodes release, he said that they worked closely with Microsoft’s TAP Program to develop. The solution, call recordings offering for Teams that captures all voice, video, and instant message (IM) interactions:
“This solves several complex compliance issues for companies of any size, which is why we developed the AudioCodes SmartTAP 360⁰, in conjunction with Microsoft. We wanted to enable companies to capture and index all internal and customer organizational interactions”
AudioCodes SmartTAP 360⁰ supports internal, external, and mobile interactions from both remote and local users. It extends cloud, hybrid, and on-premises deployments with flexible management options, and the UC giant’s one of the first vendors to offer these kind of comprehensive solutions via Microsoft Teams. Yaffe told me, there’s even an integration with Skype for Business as well as SIP Recording to assure all interactions are captured.
To address the various kinds of compliance, there are a few features that Yaffe said were designed with ensuring compliance for customers in mind. There’s a manual pause/resume functionality for real-time PCI compliance recording and an integrated announcement server with opt-out capability for MiFID II compliance. Dedicated deletion and retention policies are available for local (national) storage capabilities to ensure GDPR Compliance, and audit trails that enable digital signatures as well as the authentication of all recordings for eDiscovery-related compliance.
According to the Global Call Recording Software Market Report 2019, analysts believe the Call Recording Software market size will grow to $916 million by 2023. We’ve come a long way since the beginning of call recordings in the early 90s when the answering machine made its debut. A few decades later, we arrived at the tape recorder. This eventually led to the digital recorder, which today’s led to near-endless possibilities.
AudioCodes has been around for much of the industry’s reform, with more than thirty years of experience in the compliance business, which is why Yaffe said the company continues to push the envelope on in-demand features. He added, the novel Coronavirus pandemic’s shifted the way companies, users, and pretty much everything operates.
“This is why we wanted to offer the most comprehensive approach to call recordings, possible”
AudioCodes has been on an innovation streak recently, too, releasing the latest addition to its productivity suite, Mia, an interactive voice assistant that can track action items, and a lot more. COVID-19’s forced companies to reinvent the way they do business, which means a heavier reliance on cloud-based tools that enable remote work.