Ashok Vemuri is the Conduent Chief Executive Officer.
As I returned from Conduent’s 2nd annual Continuum Conference in Orlando, I remain very optimistic on where our industry is headed, and inspired by the customers I met with and the discussions we had about their businesses.
The purpose of Continuum was to discuss the shifting expectations of end-users and emerging operating models necessary to meet those expectations. There is no doubt that the growing influence of the end-user is shaking the very foundation of the business model of every industry. This is especially true in the world of business services. Those we serve at the end of our service value offering – the employees, patients, members or consumers – have higher expectations and are increasingly more influential in the design and performance of the work we do with our clients. And with the advent of a new generation that was not just “born on the web,” but “born with a phone,” this dynamic is here to stay.
How do we respond to this new dynamic to create the ultimate digital customer journey?
Digital is simply our collective way of living now. It’s interwoven into everything we do – from how we consume information, connect, make decisions, shop, and buy and sell products. We can complete virtually any task on our smart phones. We can talk to our smart homes. And our smart cars are starting to drive themselves. Your smartphone is probably the most powerful device you have ever had – and it fits right inside your pocket.
But, in this digital age, the expectation continues to rise. A recent study by Bain and Co. showed that while 80% of CEOs believe they are delivering superior customer experiences — 92% of their customers beg to disagree. That’s clearly a humbling statistic for me and my fellow CEOs. CEOs and companies have no choice but to relook at every touch point across their customers’ journeys and identify new sources of value creation – new ways to deliver an integrated, exceptional digital experience in an always-on, hyper-personalized, socially connected world. And when we talk about customers, what we really mean is end-users. That could be customers, citizens, employees, patients and many others. Everyone expects digital experiences that are immediate, intelligent and individualized — and those expectations will only continue to grow.
To deliver real business value to our clients, service partners like Conduent must not only bring efficiencies to business operations – we must contribute to each organization’s digital transformation.
Individualized, immediate, intelligent interactions are today’s imperative
At Conduent, we’re fortunate to have an extremely diverse set of clients which give us a wide-ranging perspective on the kinds of challenges businesses are facing today. As a result, we have concluded that in a world of digital interactions, all of companies are facing three realities. We’ve defined those in the context of “three I’s” – individualized, immediate, and intelligent. Let’s take a closer look.
- Individualized: In any service interaction today, we expect the digital experience to be personalized, regardless of the context. And with the advent of the social web, each end user has a personal megaphone to share feedback and directly influence a company's reputation. Our best digital experience in one situation always sets the standard for the next. The combination of mobile cloud-based apps and contextual data are enabling this to happen. Regardless of the tools, technology or industry – remaining grounded in this first principle is useful for understanding expectations in almost any industry.
- Immediate: This comes to life at two levels. First in our personal experience, “now” is the new delivery standard. Everything should be accessible with the tap of a finger. Overnight is not good enough when there is same-day. But Immediate is not just about service delivery. It also speaks to the rapid simplification of the industry value chains and eco-systems in which we all participate. It is the emergence of digital business platforms that are connecting eco-systems as a way to eliminate layers and accelerate service delivery.
- Intelligent: Big data has become “exploding data” creating new possibilities for process and experience improvement. The sustainable advantage of a digital-commerce business is collecting data across the digital value chain and turning that data into actionable insights. Predictability is yielding new levels of operational resiliency and experience for the end user.
At Conduent, we see a future that is individualized, immediate and intelligent — and integrated digital experience platforms are the essential tools to drive our clients’ business forward in this direction. We have been re-shaping our company around a set of core, technology-based offerings that are fully aligned with this future — and we’ll continue to scale our innovation and rapidly re-apply technology insights we gain along the way.
I’ve never been more optimistic about what the future holds for Conduent and our clients, and I look forward to creating what’s next — working closely with our incredible client partners.
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