Digitalization: Donât build a superhighway to a dirt track | DMA

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Digitalization: Donât build a superhighway to a dirt track

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To consistently respond to consumers’ digital expectations, you have to deliver a great online experience that’s relevant, convenient and faultlessly connected at every touchpoint.

But it’s essential to follow through on the promise that online interaction implies. Service must be seamless end-to-end – from channel to fulfillment. How many people would return to a restaurant serving fantastic dishes if they always arrived cold or late?

So unless organizations also focus on fulfillment excellence, they run the risk of building super highways that lead to dirt tracks. The consequences are as harrowing as the inevitable car crash – disastrous customer experiences and a wrecked reputation.

Fulfillment excellence delights customers but also brings massive cost efficiencies as cumbersome and manual tasks are eradicated. Everyone stands to win.

There are notable examples of “digitally born” organizations that have achieved excellence in fulfillment. Amazon is building its own delivery devices (drones) and vehicle fleet. Apple has the most successful physical retail stores in the world, and they’re fully integrated with their on-line channels.

But examples of more traditional businesses transforming to this desired state are rare, saddled as they are with legacy, complexity and outmoded governance.

Multinational grocers struggle with the online delivery chain. Interacting with your phone company, energy provider or bank is often painfully unfulfilling.

So there’s a big and worthwhile job that needs doing. Fulfillment is true differentiator and competitive advantage in this digital world. However, for many organizations, it’s also an overwhelming challenge.

At Wipro Digital, we’ve worked with a range of businesses facing this challenge including a number of major banks. Typically, there is a clear recognition of the need for radical change but less clarity on where to start and what change levers to pull, in what order.

In our experience, the key is to identify and implement executable interventions that make a real and immediate difference and that are driven by customer need. To do so requires three complementary segments:

Continue readingHow will banks navigate the investment advice market minefield?

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