FeatureThe pandemic has led to a complete transformation in the way that organisations collaborate and share information. Thanks to the need for rapid adoption of technology, companies were forced to investigate new digital solutions that would allow organisations to continue functioning remotely and continue to serve their client base.
Digital transformation will not be slowing down anytime soon. In fact, the potential to use data to improve the overall customer-centric journey and efficiency of an organisation will surely increase in the coming 24 months. This is because the need for adaptation and staying relevant with the customers is critical since they too have evolved with new needs to be met.
These important factors will make or break the relationship of organisations with their existing customers
Definitively this is something that needs to happen. Since customers habits, knowledge and need for new ways of interacting with the regional organisations have evolved and if this is not taken care of users will have no brand loyalty as was the legacy past. Today the customers are more demanding, smarter and need to be catered to in this new format digitally.
Digital transformation will not be slowing down anytime soon
These important factors will either make or break the relationship of organisations with their existing customers and other new contenders will arise. If we look at the new Fin-Tech landscape, Neo banks, Insurance industry, they are all evolving rapidly, and new products are offering more vital customer care solutions. This has already made new front runners and disruptors in this industry.
It is up to the management of each organisation and some choose to rely on their own in-house skills and deployments, but looking at the current trends, there is a shift to third-party vendors and service partners. Single or multiple API connectivity has very quickly created a new way for companies to work together and benefit from expertise and most importantly, speed to market these new services and product offerings.
The need for adaptation and staying relevant with the customers is critical since they too have evolved with new needs to be met
It is important to make sure that all stakeholders are committed, informed, and work together to make these changes. Looking at the social media sphere today and how it has changed the way a company communicates with its customer base. It is now common to have new roles created within the organisations to handle these situations. It is especially vital to make sure that the new development and implementation plan has the right people and the right tools to efficiently execute the new plan forward.
In the new Fin-Tech landscape, Neo banks, Insurance industry, they are all evolving rapidly
Sustainability and reducing the carbon footprint need to be addressed and the main objective is to make sure that the right competence is onboard to drive this change. Each part of the business and the digital transformation should be included from the start, from the overall approach, all the way to the strategy for this initiative. There needs to be a full commitment from all participating stakeholders within the organisation for it to be successful. The information and communication flow within the organisation is vital for this change to be successful.
