Editor’s note: The digital economy is redefining business process services. Today, in the first of two blog posts, Conduent experts discuss insights gathered from two recent conventions focused on outsourcing and shared services. First: The International Association of Outsourcing Professionals.
Just a typical call on a typical day in the life of a health insurance call center. “What is the deductible going to be for my upcoming MRI?” asks the worried member.
Sounds pretty straightforward. The customer service representative just needs to call up the price list, scroll down to the MRI line, read off the price and send the member along.
If only it were that easy. Given the mind-bending complexities of health care, the CSR rep might have to do a mini-scavenger hunt: tapping into four separate systems and conducting a series of calculations to produce an answer, all within a handful of minutes.
And it better be right.
These are the types of challenges facing organizations today in the digital age – challenges that are increasingly being addressed by business process services companies such as Conduent. Industries still want help in becoming more efficient, but increasingly are asking their business process service partners for designing, implementing and executing breakthrough solutions that create exceptional customer experience.
These considerations were much on the mind of attendees at the 20th annual Outsourcing World Summit, produced by IAOP. I spent time with the Conduent team and our clients at the IAOP event, where we were recognized for our work support our health plan customer in developing an improved member experience – less time on the phone and more satisfied outcomes.
Specifically, we were credited with “out of the box” thinking that generated millions in cost savings, a 20 percent reduction in average call length and a 13 percent increase in satisfaction scores.
Across the event, though, I came away with some key takeaways that point to further change in the age of digital transformation:
- Customers are embracing business transformation initiatives to compete in the new digital economy and are seeking service provider insight and support to help them capitalize on new business models.
- Intelligent Automation is expected to minimize interest in “legacy” business process re-engineering, with the emphasis shifting toward the design of new digitally enabled processes and improved forms of user experience.
- Business process relationships will increasingly focus on “as a service” deals – for example, finance as a service, software as a service. The percent of traditional outsourcing focused solely on efficiency continue to decline as an overall proportion of new signings.
- While the current penetration of robotic process automation is at about 2 percent of total client business processes, it is expected to be table stakes for provider service delivery value within the next few years. Provider differentiation and unique customer value will be delivered through applications of cognitive computing and artificial intelligence. Customers are seeking their providers to help them develop roadmaps for their cognitive journey.
The International Association of Outsourcing Professionals (IAOP) is a large network of customers, service providers, sourcing advisors and industry analysts dedicated to improving outsourcing business models and outcomes. Conduent became an IAOP corporate sponsor this year; the show attracted about 1,000 attendees.
Tomorrow: Observations from the 21st Shared Services Outsourcing Week by the Shared Services Outsourcing Network.
About the AuthorMore Content by Laurence Bissinger