There is a general consensus that the human touch is gradually being removed from modern-day customer service. When individuals who hold this belief are asked why they think this is happening, technology tends to be the culprit. There is a feeling that physical locations are becoming less and less common, thus removing direct human contact. Moreover, many businesses are choosing to employ artificial intelligence in the form chat-bots to take the place of actual humans, making it impossible to even have a conversation on the phone.

While it is difficult to argue with these points, it would be incredibly naive to think that customer service could remain the same in the digital age. The key here as a business is to strike a balance. You need to take advantage of the transformative technologies that are readily available, while still providing customers with the feeling that they are actually being listened to on a human level. As a result of this new phenomenon within the business world, we decided to put this article together in order to introduce you to the ideal approach to customer service in the digital age when it comes to communication.

A Customer-Centric Approach

Despite new technologies completely revolutionising what it means to do business, there are some things that simply do not change. Customer centricity is the ability of people within a business to understand their customers’ situations, perceptions, wants, needs, and expectations. While technology has meant that these have changed, technology can also help make sure that you attain the standards required in the modern age.

In a sense, customer service today is somewhat of a paradox. People want to be able to find the information they need on their own, so you need to ensure that you have a clear and concise website and/or social media presence. However, they also want to be able to talk through something with a representative on the occasions that they require further, personalised assistance.

By providing a click to call software on your website, you are bringing your business into the 21st century. A click-to-call widget simplifies everything for the customer in terms of communication. With just one click, customers are able to initiate a phone call directly from your website or application. 

This will encourage visitors to request a call, after which they will be connected with the first available customer service agent. When we said that some things don’t change, putting the customer first and making it as simple as this is what we meant. Moreover, the business will benefit by attracting new customers in the process.

By removing the hassle of manually dialling a phone number and then waiting for a consultant to answer, you are making the most of modern-day technology, and catering to the needs and wants of digital natives, all while reintroducing the human touch to your business’s customer service experience. 

The Bottom Line

It is this blend if technology and personalization that can set a company apart in this new era of business. 

The customer will be happy with their catered service, and the business can start increasing both their leads and their revenue in an instant.

Businesses and individuals alike are at a growing reach of having their data compromised. Recent statistics from IT Governance reveals a concerning trend, with reported security breaches increasing by 11% from 1,120 cases in 2020 to 1,243 cases in 2021. These breaches have exposed a staggering 5.13 billion records containing sensitive information. This is, in part, due to the fact that organisations and private citizens can both be vulnerable to data breaches.

So, what should you do if you find yourself in this situation? Following a data breach, it’s vital to take immediate action to protect your interests.

Data protection responsibility for organisations

In the UK, the responsibility for safeguarding personal data privacy and enforcing data rights in the public interest lies with the Information Commissioner’s Office (ICO). The ICO is tasked with enforcing the Data Protection Act 2018, which closely aligns with the EU’s General Data Protection Regulation (GDPR). This legislation lays out specific principles that organisations, businesses and government bodies must follow when handling personal data.

The ICO places responsibility on data holders and is the first port of call for those whose data has been breached. Once the ICO has been notified, further legal action can be taken.

Reporting a data breach

By law, any data breach must be reported to the ICO within 72 hours of discovery. This is a critical step in initiating a thorough investigation by the ICO to identify the root cause of the breach, and ensure that all parties have fulfilled their legal obligations. Failing to report a breach promptly may reduce the chances of recovering lost personal data.

However, it’s advisable to consult legal professionals, as they can ensure a comprehensive investigation of the breach and protect your rights as a data subject. This will also provide you with a better understanding of your rights if a data breach is confirmed, increasing your chances of receiving compensation if the organisation responsible for your data is found to be at fault.

Documenting the data breach

Keeping a detailed account of the incident is essential for those who plan to or later decide to make a data breach claim, as this documentation will serve as valuable evidence during the process. The ICO requires records that include a timeline of events, details of individuals involved, and the corrective actions taken in response to the breach.

Any reports generated by investigating bodies can substantiate the claim, but you will need to show the impacts that the breach has had on you in order to get the right amount of compensation for your losses.

Containing data breaches

As soon as the breach becomes known, the organisation responsible must take immediate steps to recover the data and prevent future breaches. This could involve requesting the removal of shared critical information, identifying the source of the breach, and remotely wiping stolen digital assets.

Depending on how the organisation conducts itself in this phase, the impacts on individuals may be made worse, and this can leave the organisation further liable for legal action.

Understanding your legal rights

If you suspect that your data has been mishandled or inadequately secured, it is essential to alert the relevant organisation so that they can take corrective action. If you are not satisfied with their response or believe that further action is necessary, you should report the matter to the ICO.

Under the Data Protection Act 2018, if an organisation breaches data privacy regulations and causes you harm, you have the right to file a compensation claim. It’s important to note that you do not have to go through the ICO or wait for the conclusion of its investigation to file a claim directly against the responsible organisation.

Compensation claims

Organisations can be held accountable for data breaches, particularly those involving sensitive data such as financial or medical information. In such cases, you should seek legal advice from experts specialising in data breach claims to assess the strength of your claim.

While the ICO can investigate data breaches and establish legal responsibility, a favourable ICO verdict that the other party misused your data can significantly bolster your compensation claim, even though it may involve a lengthy process.

If you have suffered tangible losses due to a data breach, you have the option to file a claim directly against the responsible organisation. However, keep in mind that organisations may try to downplay their data security obligations or withhold information. Therefore, seeking legal guidance from experts in data breaches ensures that your rights are upheld and your claim is thoroughly investigated.

John Hustaix is an in-house lawyer with more than a decade of private practice asset management experience. This article will explore the topic of asset management in more detail and how it is used to provide a framework for the day-to-day running of wealth portfolios.

Pooling assets by creating an investment portfolio allows investors to access these assets with limited expertise requirements. This is achieved by identifying opportunities, assessing risks and developing overarching strategies to achieve the client’s specified financial objectives.

Asset managers usually organise the pooling of assets with common features into packaged products that can be easily identified by investors. As such, asset managers will create funds into which investors’ capital is collected and then use the collected capital to acquire multiple assets to which investors will have a pro rata exposure. This allows investors to (i) access assets that they would not normally invest into themselves or directly, (ii) diversify their exposure to multiple assets having common financial features and (iii) reduce the costs of managing these assets.

Once the investment portfolio has been established, the asset manager will be responsible for monitoring individual investments and tracking overall performance, managing investments and financial products that form part of the portfolio. This may include selling funds when the time is right or purchasing more assets based on market research.

Asset management companies manage funds on behalf of both corporate and individual clients. They make timely investment decisions with the ultimate goal of growing their clients’ portfolios and wealth.

Asset management is one fell swoop that involves increasing the value of portfolios while simultaneously mitigating risk. The client’s risk tolerance is a critical factor in investment decisions that can vary hugely from one investor to the next. For example, a young individual may have longer-term objectives that require limiting short-term liquidity to increase risks by either leveraging or buying illiquid investments, thus creating scope for greater yields, while a retiree living on the income from their portfolio is unlikely to benefit from longer-term returns and thus will likely be much more risk averse.

It is the role of the asset manager to propose pooled investments that are most appropriate for the client, aligning with both their risk tolerance and long-term financial goals. Investments may include stocks, commodities, real estate, bonds, mutual funds and alternative investments.

Effective asset management calls for extensive research using both micro and macro analytical tools. This includes reviews of corporate financial documents, statistical market trends analysis and anything else that can help to achieve asset appreciation. Essentially, asset management involves buying, holding and selling funds, stocks, bonds and other investments and financial products for the benefit of several investors treated equally.

In an era dominated by digital marketing, the resurgence of traditional advertising methods has taken many by surprise. Among these age-old techniques making a comeback, leaflet distribution has emerged as a powerful and newsworthy strategy for businesses looking to connect with their audience tangibly.

Leaflet distribution, also known as flyer distribution, is witnessing a revival in popularity as businesses recognise the unique advantages it offers in a crowded advertising landscape. Unlike the virtual world of social media and online ads, leaflet distribution provides a substantial and personal connection with potential customers.

One of the key strengths of leaflet distribution lies in its versatility. Businesses can tailor their message to specific localities, ensuring that their promotional materials reach the right demographic. This targeted approach has proven to be effective in both urban and suburban settings, making leaflet distribution an adaptable strategy for businesses of all sizes.

The tactile nature of physical leaflets contributes to their effectiveness. When a potential customer receives a well-designed and informative leaflet, they not only absorb the message but also have an evident reminder of the brand. This tactile engagement can leave a lasting impression, fostering a sense of connection that is often harder to achieve through digital means alone.

In recent years, businesses have discovered the benefits of using a leaflet distribution company to enhance the efficiency and effectiveness of their campaigns. These specialised companies offer a range of services, from designing eye-catching leaflets to strategically distributing them in targeted areas. By delegating the distribution process, businesses can concentrate on their core operations, entrusting the intricacies of reaching the audience to seasoned professionals.

Using a leaflet distribution company brings several advantages to the table. Firstly, these companies have extensive knowledge of local markets, allowing them to provide valuable insights into the most effective areas for distribution. This local expertise can significantly boost the chances of a successful campaign by ensuring that leaflets reach the right people in the right locations.

Secondly, leaflet distribution companies often have access to advanced analytics tools that can track the performance of a campaign. From the number of leaflets distributed to the response rates and customer engagement, these metrics offer valuable data for businesses to assess the success of their marketing efforts. This data-driven approach enables businesses to make informed decisions and refine their strategies for future campaigns.

Furthermore, partnering with a leaflet distribution company can save businesses time and resources. The logistics of planning and executing a leaflet distribution campaign can be intricate, involving considerations such as route planning, printing, and manpower. By outsourcing these tasks to a professional company, businesses can streamline the process, ensuring a smoother and more efficient campaign.

Leaflet distribution is particularly impactful for local businesses looking to build a strong presence within their community. Whether promoting a grand opening, announcing a special offer, or simply raising awareness about their products or services, leaflets provide a tangible connection that resonates with the local audience.

As businesses continue to explore diverse marketing strategies, the resurgence of leaflet distribution stands out as a testament to the enduring power of traditional advertising methods. By combining the concrete benefits of physical leaflets with the expertise of a leaflet distribution company, businesses can create memorable campaigns that cut through the digital noise and leave a lasting impression on their target audience.

Paytiko supports businesses all over the world, helping them to access the most suitable payment processors and solutions. This article will look at Paytiko’s ‘Refund’ feature and how it enables merchants to easily manage, track and execute monetary returns that differentiate from other outgoing transactions.

Managing refunds, chargebacks and returns is a key capability for e-commerce merchants. Nevertheless, for many, it can be a considerable drain on resources and time. Today’s forward-looking merchants are increasingly investing in automating and tracking these processes. After all, streamlining returns and refunds poses scope to significantly increase the bottom line of any business.

In a post-pandemic world, many consumers continue to rely on e-commerce as an accessible and convenient means of completing transactions. In the UK, research by Report Sector suggests that circa £5.3 billion has been added to the country’s economy thanks to growth in e-commerce sales.

Issuing refunds is not a desirable activity for any organisation. Nevertheless, for e-commerce businesses, managing refunds, chargebacks and returns is the cornerstone of sustainable profitability, helping e-commerce stores to optimise the customer experience and cut through the noise in increasingly competitive landscapes.

To ensure customer satisfaction, it is crucial for e-commerce businesses to make their return policy clear pre-purchase, ensuring product descriptions are accurate and offering flexible product return windows. Some businesses even offer free returns. At a bare minimum, e-commerce stores should take care to ensure that their return and refund terms are clearly stated, demonstrating transparency about refund policies. In addition, it is also crucial for e-commerce businesses to track and analyse returns data to identify trends among returned items and customers.

In increasingly competitive marketplaces, the onus is on businesses to keep the customer happy by remedying bad situations. For commerce-oriented businesses, refunds are unavoidable, placing merchants who can deal with them efficiently at a significant advantage in terms of maintaining customer satisfaction and business productivity.

Paytiko segregates refund transactions, enabling merchants to issue and view refunds by customer, payment processors, currencies and other parameters. Paytiko assigns an individual dashboard identifying number to each refund, as well as a coloured processing status, enabling merchants to personalise the platform layout and filter refunds by column headers.

Paytiko was created to help digital merchants evolve by providing a cashier solution to optimise payment flows. Paytiko helps businesses operating in a wide range of different industries to handle incoming payments, enabling merchants to offer their customers the most accessible and convenient payment options available today.