Blog
Complaints are an increasing burden for non-domestic suppliers
Energy suppliers will need to offer enhanced complaints services to more than 200,000 small businesses under new Ofgem rules, BFY estimates. The Complaints Handling Standards (CHS) are expanding from December 2024 to cover both micro and small businesses, and as volume increases, some will need to adapt more than others, to build the required maturity for higher demand.
Energy suppliers face a third party complaints problem
Energy complaints increased in the latest data, and although volume is normalising at pre-pandemic levels, there’s a concerning trend emerging with third party involvement.
Motor Finance Complaints – Preparing for the 'new PPI’
Car finance DCAs have grabbed a lot of headlines already this year, with an estimated industry cost of £6bn to £16bn. Associated complaints present a major servicing challenge over the next six months, and businesses should be preparing to manage a substantial influx.
Reducing the true cost of complaints with Operational Excellence
Organisations within Financial Services continue to spend £millions each year on their complaint operation. Whilst executives may be thinking about prioritising growth and modernisation across the next financial year, it’s crucial that operational efficiency remains front of mind, to ensure the delivery of good customer outcomes and compliance to the regulatory bar.
Turning the tide – Complaints lessons for Financial Services
Complaints are on the rise in Financial Services. The FCA’s latest data (Oct-23) reports a 5% increase in volume between H2-22 and H1-23, and with regulatory pressure heightened across the industry – how can companies transform their approach to prevention and resolution?
An update on Energy Complaints Performance
Complaints challenges are set to continue in Q1. It’s a trend we’ve seen in recent years, that customers are more likely to complain during a period of high usage. However, based on current market conditions, this year’s uplift could be more significant than usual.
Winter complaints are coming – and this year, the pressure feels different
Lower temperatures, increased energy usage, and more customer complaints. Suppliers face this challenge during any winter, but this year, there's greater pressure at play. Vulnerability and customer support will remain top of the agenda, following last month's House of Commons Committee report, alongside the ongoing focus on Customer Standards by Ofgem.
How to prevent a customer going to the Ombudsman with a complaint
If a complaint isn’t resolved within 56 days, the customer is informed about their rights. This means they can take their complaint to the energy Ombudsman to help resolve their dispute.
How empowering your frontline team increases first contact resolution
When a customer contacts a supplier to complain, the best journey they can experience is for their issue to be resolved there and then. It is also the best option for the supplier. Complaints not resolved immediately tend to drag on and cost significantly more to service. It is in everyone’s interests to resolve the issue on that first contact.
Save time and money by reducing your contact to complaint ratio
Although a standard customer service call is relatively inexpensive to service, complaints cost a lot more due to their higher staff costs, ongoing payment challenges and Ombudsman fees. To save money, some suppliers develop their operations to reduce the incidents of contacts that become complaints.
How managing a customer’s complaint effectively can lessen the risk
Losing contact with a customer is a painful experience for both the supplier and customer. It usually occurs when a supplier has invested a lot of effort into trying to reach a customer about their complaint being resolved and they have had no response. Unfortunately, in many cases the customers issue will not be resolved which may lead to further problems for suppliers during the process.
How to reach a pre-agreed resolution with a customer
Industry data shows that change of supply, billing, and read dispute complaints require further actions to resolve the issue, often requiring the support of a back-office or a Resolution Manager.
Subscribe today to receive the latest news and updates from BFY
By submitting my personal data, I consent to BFY collecting, processing, and storing my information in accordance with our Privacy Policy.