Ever since the advent of telemarketing, long-distance service providers and e-commerce, buying and selling of products/services can be achieved through various means and not just face-to-face. E-commerce has played a major role in bridging the gap between the buyers and the sellers while also providing various avenues to simplify the buying and the selling processes. Customers can buy goods and services even while sitting at home through the electronic medium of internet. Nowadays, transactions can be made online (through internet) without any effort whatsoever.

There has been a revolution in the marketplace globally and customers have every access to purchasing products and services offered in any part of the world by making quick payments. Not only purchasing, consumers can access vital information about the products and services before buying and even compare prices to make an informed decision. Many more innovations in buying and selling processes are being introduced in the business sphere almost every time with each innovation aimed at simplifying the business transactions for both the customers as well as for the companies.

The revolutionized market has given rise to many policies and procedures that govern the business transactions carried out electronically. Third Party Verification (TPV) is one such legal requirement that concerns long-distance business transactions made through the electronic medium. There are various aspects of TPV that cover various types of business transactions but the main aim of all the verification services always remains the same; to ensure transparency in transactions and avoid fraud and deceit for the benefit of both parties (the company as well as the customer).

Third Party Verifications essentially involve a three way communication between the customer, the vendor and the verification party (third party) in order to verify the exact details that concern the proposed transaction between the buyer and the seller. Once the details are verified, only then the transaction can be executed (the amount can be charged from the customer in exchange of the product/service that will be offered to the customer).

Third Party Verifications also 3^rd Party Verifications, require an effective process, the technological means and capable human resources that can function in conjunction as an independent body between the customers and the vendors in verifying the exact details of the proposed transaction. Since TPV functions as a proof for electronic transactions, it is essential that this domain of your business should be competent enough to communicate information to both parties effectively and help close the sales as convincingly as possible without resulting in disputes and frauds. Whether your company relies on the IVR TPV services, Live Operator TPV services or a blend of the two (hybrid TPV services) , it is essential to monitor and manage the process closely in order to avoid problems later in the form of customer disputes and incorrect exchange of information.

TPV represents an essential step in the successful completion of business transactions made electronically. Companies can be penalized by regulatory bodies for conducting business transactions without verifying the details of the transactions and keeping a recorded proof of the verification calls. It is a legal requirement for all business organizations to have their proposed transactions verified by a third party verification department and the proof recorded before actually charging the transaction amount from the customer's account. A particular transaction or sale can go ahead only when the details of the deal are verified to be correct by the third party. The importance of TPVs can be justified by the fact that without the verifications, companies can no longer make sales legally.

TPV recordings serve as a proof for companies stating that the customer agreed to the specified requirements and conditions in order to purchase the concerned products/services from the company at the specified price. The recorded conversation serves as a valid proof that can be produced in case there are any disputes regarding the transaction later on. In some cases, there may be miscommunication between the customers and the sellers in terms of the cost of the products/services, the condition and the specifications of the products and services or perhaps the requirements of the transaction and this is what the TPV is aimed at negating.

Such disputes usually require the concerned company to fall-back on TPV recordings in order to produce the details of the conversation between the three concerned parties as proof for the agreed terms. The details confirmed during the recorded three-way conversation serve as the proof for the transaction. In case of a dispute, any discrepancies noticed in the recordings that vindicate the customer's case will result in the cancellation of the sale and a refund to the customer. Also, any failure to produce the TPV recordings for disputed transactions will always go against the concerned company and result in the cancellation of the sale as well. On the other hand, the third party verification recording can also come to the aid of the company when customers decide to play foul since a comprehensively recorded call will function as a proof to testify against the erring customers.

When we consider the fact that the companies in the market are there to make sales and consequently, profits, cancellation of sales and the subsequent wastage of resources in resolving customer disputes can be detrimental to the company in various ways. Hence, it is important for companies to maintain effective TPV services that are managed comprehensively in order to have efficiently verified sales that do not result in disputes later on.

Third Party Verifications, whether it is the automated TPV, the Live Operator TPV, or the Hybrid TPV, require concrete business plans, knowledgeable workforce and latest technology to be managed effectively. Any compromises in this regard usually result in ineffective customer service in and inefficient TPV processes that not only drain the resources but also don't serve the purpose that they are aimed at. More and more internet-based sellers or eCommerce businesses and even the traditional businesses for that matter are taking their TPV services seriously in order to cut down on the expenses related to this domain while increasing the efficiency and performance of this department in verifying the sales made by the company. The importance of making effective sales is well-known today and TPVs are an essential step in accomplishing a smooth sales process for a company.

The challenges faced by organizations in conceiving, integrating, maintaining and managing the TPV department of their business are the same as for any other customer service process. TPV processes depend on the use of technology, manpower, strategies and funds in order to accomplish the tasks effectively. Although third party verifications are support functions for the businesses, their proper management is imperative. Where US organizations are facing problems is in the area of providing effective TPV services at low costs. Due to the recent economic downturn, businesses can no longer spend lavishly in maintaining their support functions since their main priority will always be the optimization of the core processes. As a result, the effectiveness of TPV services in USA is spiraling downwards.

TPV jobs and other customer service jobs are not the most reputed jobs in USA and not many people in the western countries are ready to take up these jobs as serious professions. Hence there is a dearth of talent in the domain of customer service and TPV in the USA resulting in compromised TPV services and other customer services.

The costs associated with running a business organization (of any size or level and for any industry) are already very high in USA and still on the rise due to prevailing recessionary trends. In such a market scenario, operating the core business functions effectively is consuming most of the resources of the companies and as a result they can no longer pay equal attention to support services. Hence, the domains of customer service and third party verification service are hard to maintain for the companies, making them pay less attention to these departments.

Support services like customer service and TPVs are specialized domains of the business nowadays and managing these support departments amidst tight deadlines and even tighter budgets requires effective, flexible and scalable management plans and strategies and the managerial expertise to execute the plans. These criteria can best be fulfilled by the experts in the field of customer service and backed by comprehensive business research and analysis in this domain. For business whose core functions don't include support services, access to specialized skills in customer services in-house is rare and would mean a shift of focus and resources from core functions to support functions. Such a shift may result in an imbalance in processes and harm the functioning of the core business.

With all the factors taken into consideration, the smart businesses today are the ones who have outsourced their support functions and verifications departments to negate all the aforementioned factors. Their outsourcing partner takes care of these criteria along with sharing the risks of their business. No wonder more and more American firms are looking at outsourcing as a concrete solution to all their problems in managing their support services effectively.

Many business organizations across USA have their support functions outsourced to eastern countries like India in order to cut the costs associated with effectively managing business functions such as customer service and Third Party Verifications processes. Outsourcing is the option that has bailed out many US firms from the financial crunch brought about by the recent economic downturn. Since the costs associated with operating business functions in offshore locations like India are considerably less, Indian outsourcing companies have in the last decade been able to successfully assist a large number of US businesses in outsourcing their businesses to India.

Bangalore, the IT capital of India, has emerged as the world's back office and the outsourcing hub of the east with a major chunk of the Fortune 500 having their offshore delivery centers located here. Most of the US call centers and BPOs are being operated from Bangalore providing excellent service to US customers and clients in the domains of customer service, technical support, chat support, Email support, TPV and other business support functions. India is now the prime outsourcing destination in the world and the quality of service provided by Indian outsourcing companies is renowned all over the world for maximizing business worth and increasing profits. Even with the customer services like TPVs, outsourcing represents a great alternative for US firms in order to effectively manage these departments at low costs and maximum efficiency. Outsourcing customer services has the following benefits for US firms:

• Rapid integration and implementation of TPV services for new businesses, existing businesses, big enterprises, small businesses and medium-size businesses
• Considerable reduction of expenditure in managing the delivery center TPVs
• Effective, measurable and optimized performance of Third Party Verification processes through the expertise of the outsourcing partners in this domain
• Full control over all the aspects of the TPV support division along with risk sharing
• Increased efficiency and coverage of all the customer support processes 24x7 in many languages
• Versatility of the sales verification departments due to the infusion of a diverse workforce
• No requirement for extensive infrastructure and office facilities for maintaining the extra workforce in the costly western countries
• Flexibility to concentrate on the core business functions and Research & Development
• Benefits from the industry experience of the outsourcing partner

Goodbay is USA's most respected and renowned outsourcing company with delivery centers in Bangalore, India and we have been instrumental in optimizing client businesses especially in the domains of customer support services and customer service management like Third Party Verifications. We offer comprehensive verifications programs and TPV service support center facilities to most mid-size and small-size businesses in America allowing them to capitalize on the benefits of outsourcing. Goodbay has the qualified workforce, the state-of-the-art facilities and the business expertise and experience to maximize the potential of your business and your customer support services.

Goodbay Technologies provides your business the flexibility of concentrating on your core functions while we provide the expertise and the solutions to effectively manage your third party verification services. Goodbay has been working with a number of clients over the years, managing their TPVs with maximum efficiency and very low costs. Our third party verification strategies are innovative, flexible and cost effective allowing your business to close more sales conveniently without frauds and disputes. Our solutions allow easy integration of TPV services, effective recording of calls and innovative Live Operator strategies along with increased success ratio and cost-savings. We help optimize your third party verifications services to draw maximum results at low costs of operation.

Apart from that, Goodbay provides you:

• Comprehensive recording of calls, secure storage and easy transfer of recorded data from the delivery center to client company
• 24/7 access to recorded conversations for your organization from anywhere in the world through secure links and websites
• Knowledgeable agents adept at TPVs and having years of experience in this domain
• Accurate and timely management and operational reports for all aspects of your outsourced TPV processes
• Quick and responsive TPV service for closing time-sensitive sales, critical sales and high-priority sales
• 100% compliance with regulations governing third party verification services
• Seamless systems integration and application setup

The customer service outsourcing solutions and third party verification outsourcing solutions offered by Goodbay are based on our meticulous and extensive market research and analysis of over 10 years during which we have made significant contributions in enhancing the performance of support operations for most US firms. From our offshore delivery centers, we have been managing client businesses efficiently over the last one decade and our transparent processes allow you full control to monitor the performance of the operations and track changes. With Goodbay, you can literally watch your customer support services and TPV services evolve into substantial, scalable and efficient units that perform at their optimal best every time.

With Goodbay Technologies, the customer service solutions and TPV solutions are no longer just about support functions. Our proactive approach has the potential to yield high profits for your business on the back of unparalleled customer satisfaction. Our plans are formulated to provide services in a way that work to keep your customers happy and loyal. Goodbay's TPV solutions and offshore TPV call center solutions are proven to be effective in optimizing the customer service and verifications departments for businesses across USA. We have an excellent track record in managing client businesses in the domain of business support services over the last decade and most of our clients have experienced high profits and other benefits from our TPV Company outsourcing solutions. To find out more about the Customer Service solutions, TPV services and other outsourcing solutions offered by Goodbay, please call us at :+1-312-470-6060 or Email us at info@goodbaytech.com