Infosys experts share their views on how digital is significantly impacting enterprises and consumers by redefining experiences, simplifying processes and pushing collaborative innovation to new levels

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Reimagining Customer centricity for enterprise digital journey

Todays' customer are technology savvy and with ever growing usage of digital technologies customers are looking for competitive service from their service providers. Customers are expecting service providers to deliver holistic picture across all service and empowerment to self-serve and analyze data. As per Gartner customer centricity as one of the top priority for CIOs. At a broad level, Customer centricity is to have customer at the center of your business. For example: Financial service providers should present a single view of the customer across Banking, Insurance and Retirement services for their transactions & interactions across all channels.

Todays' customer are technology savvy and with ever growing usage of digital technologies customers are looking for competitive service from their service providers. Customers are expecting service providers to deliver holistic picture across all service and empowerment to self-serve and analyze data. As per Gartner customer centricity as one of the top priority for CIOs. (Reference: http://www.1to1media.com/weblog/2015/08/the_rise_of_the_customer-centr.html)

At a broad level, Customer centricity is to have customer at the center of your business. For example: Financial service providers should present a single view of the customer across Banking, Insurance and Retirement services for their transactions & interactions across all channels. Below diagrams represents various foundation capabilities and enablers required in digital world for customer centricity.



More than ever before, IT and Business teams will shift the focus on strengthening following capabilities to get ready for customer centricity in digital world.


A. Customer 360, Single view of the customer

Achieving a single view of the customer requires a single source of truth for customer data.

Master Data Management (MDM)

  • MDM solutions are playing key role in managing golden copy of customer data across multiple lines of business and channels.
  • Newer technologies like NoSQL (Not Only SQL) are also explored for data consolidation across disparate core systems. It is easier to consolidate customer data spread across multiple systems with different schema using NoSQL features like dynamic schema and easy scaling. Example: Insurance leader used MongoDB to build customer data hub to support 360 degree view of customer.

Analytics and Data Visualization

  • Customer data is changing in social era. Todays' customer data is in unstructured format across Facebook, twitter, blogs and other social media. Traditional data warehouse which are used for structured data analysis are augmented by Big Data analytics options like Hadoop and other Massively Parallel Processing (MPP) technologies. These new technologies are preference for handling large volume unstructured data in a more cost effective way.

Customer Relationship Management (CRM)

  • Enterprises are heavily investing in modern customer relationship management (CRM) systems for building and retaining relationships with customers and to provide great customer service.


B. Omni Channel experience (Integrated multi-channel)

Consumers are using multiple channels to interact and transact. Consumers expect consistent, channel neutral experience across all channels. It is important to have single view of customer across all channels.            

Device Flexibility and Mobile capabilities

  • Consumer channel preference is changing rapidly. It is important to support device flexibility. Mobile is primary device choice for most the individuals. IT will have to adopt principles like Mobile First to provide core services over mobile to the consumer.

Social Engagement

  • Social media can be used as leading channel for engage with digital customers.  Social media can be used for wide variety of business operations i.e., from marketing to customer support.

 

C. Self-Service & Online support

  • Capabilities such as online self-servicing 24x7 portal, online chat to resolve issue online are core to online support. Ability to view transactions, bills, orders as self-service reports. Self-service reports not only adds to positive customer experience but also helps to increases business transparency which is highly valued by customer. For example: Insurers should strengthen self service capabilities in online policy update and online claim


 



Comments

Good insights Amit.

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