Emerging Technologies Beyond Emergence: Digitizing the Corporates

“Digitizing the corporates is not only about digitizing the business practices, but also about embedding the digital customer experience; which gets achieved by collaborative efforts from every stakeholder.”

The world is getting digitized even more with each passing day, and that is the need of the hour.

With the rise in the digitization of business practices, it has become imperative for businesses to adopt digital technologies and remain competitive across the sectors.

COVID-19 pandemic changed the way businesses work.

Everything that looked impossible earlier seems reasonably feasible, from the business plans to the business models now due to the contribution shown by the investors, stakeholders, and business leaders.

The challenges that the pandemic has thrown have also provided the businesses with the opportunities to shape the companies to the next level.

 

Digital Customer Experience – A go-to Tool to exceed Customer’s Digital Experience:

Today, businesses face change, markets are unpredictable, digital transformation is prevailing, and customers are uncertain about services and products.

For a profitable business, digital services are enough, but the digital customer experience also needs to be focused upon, resulting in improved results.

Digital customer experience services take a unique approach that converts the traditional customer service channels to new digital interfaces of customers.

Digital customer experience services focus on digitally transforming the customers’ experience to enhance their experience and exceed their expectations in such a competitive and uncertain business environment.

According to recent research conducted by a Chicago-based MNC, 67% of customers pay more for a seamless digital experience.

While it is necessary to maintain a comprehensive business environment, it is also imperative to have improved and innovative BCP’s, business continuation plans to achieve a digital customer experience.

The key elements that achieve a digital customer experience involve the following.

• Audience Identification
• Understanding Customers’ characteristics
• Focusing on customers’ experiences
• Personalization of customers’ experiences

The success of businesses depends on the needs of their customers, and while we have an improved digital ecosystem, having a digital customer experience results in digitized business practice.

Addressing the above elements by identifying the right customers, understanding their characteristics, and focusing on personalizing their needs results in customer delight.

The new normal is about digitized practices and emerging technologies such as AI, IoT, and RPA.

The businesses initially felt susceptible to investing in digital technologies due to the uncertainty of the relevance of technologies.

However, with improved results and profitable businesses, digital technologies including social media, enterprise 2.0, big data, and artificial intelligence (AI) positively impact the economies, sectors, and firms.

 

Digitizing the Corporates – Attaining a Digital Customer Experience:

Digitized businesses come with massive benefits. Not only did it cut down the costs, but it also improved the overall business performance.

According to recent research, digitizing the information-intensive processes, the costs are cut by 90%.

 

Automated Services:

Bygones are the days when manual business processes are used to fetch results.

With the digitized world, the business processes, too, are getting g digitized significantly.

For instance, a digitized business practice resulted in automated decision-making and reconfigured work environment.

 

End-to-End customer experience:

A customer experience, when turned into a customer delight, result in an improved customer experience.

Tackling end-to-end processes such as customer onboarding and process-digitization teams require support from each business function.

Managing cross-functional units that bring together businesses, including IT developers and decision-makers, result in an end-to-end customer experience.

 

In-house capabilities:

With the surge in the digitization of business practices, the focus on excellence is also increasing.

Creating an in-house center of excellence with skilled staff and talent addresses adds innumerable advantages.

By doing this, the skills needed to build the required technology components maximizes the business performance by enhancing the quality of projects.

 

Third-party software Integrations:

To achieve a digital customer experience, organizations tend to invest massively in digital technologies.

However, it becomes tough for firms with a lesser budget to implement the costlier emerging technologies.

In such a scenario, the firms are moving towards third-party software integration, where a small budget also suffices the project and caters to the business needs.

Such moves not only provide the expertise needed but also result in a digital customer experience.

 

New Approach for New Technologies:

“One size fits all” doesn’t work in attaining an exceeded digital customer experience.

Just like new technologies needed a new approach.

Similarly, the radical changes make businesses shift to the processes that support organizations.

 

Conclusion:

A digitized customer experience, coupled with improved business processes, leads to customer delight.

Companies that digitize their business processes improve their bottom lines and delight their customers.

Allocating budgets, implementing the innovative BCP’s, and leveraging the capabilities and momentum, organizations speed up the business processes with a digital business environment.