Archives

Evolving consumer behavior is driving a massive shift in the retail sector from traditional brick-and-mortar stores to a new combination of bricks and clicks. In the midst of this radical transformation, artificial intelligence (AI) is giving retailers the ability to capture new leads and drive the exceptional customer experiences that connected consumers crave.

In this paper, discover our proposed next-generation blended retail and online shopping system. It’s a one-of-a-kind AI marketing solution designed to boost marketing campaign performances and support advancement in organizational objectives. Download to learn more.

Insurers are finding they must research, analyze, and evaluate the impact of Coronavirus in order to develop techniques for mitigating expected losses. While pandemic/epidemic coverage products were already on the market, they are typically unaffordable for small businesses and limited in their availability, as they are difficult to price. 

What challenges and opportunities are in store for insurance providers, and how will technology help shape the future of the industry? In this paper, you’ll explore the impact of COVID-19 on the insurance value chain, the pivotal role of technology, and the role that technology will play in the digitalization of insurance processes.

Augmented reality and virtual reality adoption have dramatically picked up steam as people have sought new ways to stay productive and entertained. How are these immersive technologies being used today — and what can we expect of them in the future?

In this paper, GlobalLogic engineers and architects guide readers on an exploration of the current AR/VR landscape. See how it is being used by consumers and in education, retail, defense, healthcare, games and entertainment, and more. You’ll learn about the different types of AR and VR applications, how they work, and where this innovative technology may be headed next.

Following on from my earlier post on the importance of customer obsession and seizing sustainable competitive advantage in today’s hyper-connected digital economy, in this blog post, I will cover a high-level introduction to GlobalLogic’s CX Value Chain Assessment.

This assessment is designed to help clients take a customer-centric and pragmatic approach to understanding their organisation’s ability to effectively sense (predict) and respond (proactive, personalised) to their omni customers with branded goods, services, and product experiences.

It can also help our clients master the three fundamental competencies of achieving true omni-CX.

Before we dive deeper into the CX Value Chain Assessment, let’s take a quick look at the concept of a Value Chain and why GlobalLogic prefers to employ this approach.

 

What is a Value Chain?

The value chain was developed by Michael Porter nearly 30 years ago, it’s a powerful tool for disaggregating a company into its strategically relevant activities in order to focus on competitive advantage.

According to Harvard Business School’s Institute for Strategy and Competitiveness “A company’s value chain is typically part of a larger value system that includes companies either upstream (suppliers) or downstream (distribution channels), or both. This perspective about how value is created forces managers to consider and see each activity not just as a cost, but as a step that has to add some increment of value to the finished product or service.”

GlobalLogic leverages the principles of a holistic strategy and value creation in Porter’s value chain tool and applies them to the generation of activities that are performed by businesses to manufacture a base of loyal customers. In this process, activities are designed to maximise the customer’s experience. Outputs are measured in a number or percentage of happy, satisfied, and loyal customers. Outcomes are defined in terms of a base of (consistently revenue-generating) loyal customers (also known as customer equity) that become brand advocates, who not only stay with the brand and spend more but promote the brand to others at their own free will.

 

Defining the CX Value Chain

A company’s CX value chain is a set of strategically relevant people, process, and technological activities that are executed consistently and in perfectly dynamic harmony to deliver to its target customers the desired branded experience.

The below diagram shows the CX value chain and its key components that all service organisations – large or small – must take into consideration when aspiring to deliver branded experiences to their customers. The model may look a bit different for non-service industries e.g., product manufacturing, wholesale distributors, mining, etc. but the main principles of the value chain will continue to apply i.e., there will be a set of primary activities the businesses must execute to deliver the value proposition to its customers and there will be supporting activities that will help facilitate and enable the production process.

For the service organisations, the key focus will be to follow the journey of the customer from the customer’s lens, identify the key primary activities that must be performed in executing the experience delivery, map the capabilities required to execute those activities effectively and efficiently, and develop mastery on the combination of those so the organisation becomes competent in delivering the desired experiences to its target customers on a consistent basis.

Note: the cloud in the above diagram credits the rapid development, transition, and growth of cloud-based technologies – we see more and more organisations moving their businesses to the cloud in the future.

  • 94% of enterprises already use a cloud service. Gartner
  • Forrester predicts that the global public cloud infrastructure will grow to 35% to $120 billion in 2021 

 

Our Assessment Approach

GlobalLogic leverages its cross-discipline expertise to baseline your ‘as is’ position from a business, CX, and technical perspective. Consultants then produce a pragmatic step-by-step digital transformation roadmap, agile operating model practices, and tactical and strategic recommendations that enable you to effectively service your omni-customers.

Recommendations leverage best practices in design thinking, AWS, and Amazon Connect capabilities, enabling you to reach an end-state where effective use of AI lets:

  • Humans do what they do best – appreciate customer emotions, empathise, and resolve complex problems; and
  • Machines do what they do best – demystify data, crunch numbers, and automate processes.

At GlobalLogic we help our customers in the mastery of the following three key Omni-CX competencies that in our experience, are critical for any organisation aspiring to deliver an epitome of great and enviable CX.

Broken down, each stage enables you to affect positive change across the whole value chain:

The Customer.

The key question: How well do you know your customers?

Getting to know your customers’ whos, whys, and hows can help brands create products and services that customers feel emotionally connected to, love, and tell others about. When you know your customers better than themselves, you are destined to beat the competition and cultivate a loyal customer base. This is why ‘the customer’ is the starting point for all GlobalLogic consultations.

Although, do it with taste. According to Gartner, more than half of customers report that they will unsubscribe from a company’s communications – with a further 38 percent saying they will stop doing business with a company, if they find personalization efforts to be “creepy.”

Note: the cloud in the above diagram credits the rapid development, transition, and growth of cloud-based technologies – we see more and more organisations moving their businesses to the cloud in the future.

  • 94% of enterprises already use a cloud service. Gartner
  • Forrester predicts that the global public cloud infrastructure will grow to 35% to $120 billion in 2021 

 

Our Assessment Approach

GlobalLogic leverages its cross-discipline expertise to baseline your ‘as is’ position from a business, CX, and technical perspective. Consultants then produce a pragmatic step-by-step digital transformation roadmap, agile operating model practices, and tactical and strategic recommendations that enable you to effectively service your omni-customers.

Recommendations leverage best practices in design thinking, AWS, and Amazon Connect capabilities, enabling you to reach an end-state where effective use of AI lets:

  • Humans do what they do best – appreciate customer emotions, empathise, and resolve complex problems; and
  • Machines do what they do best – demystify data, crunch numbers, and automate processes.

At GlobalLogic we help our customers in the mastery of the following three key Omni-CX competencies that in our experience, are critical for any organisation aspiring to deliver an epitome of great and enviable CX.

Broken down, each stage enables you to affect positive change across the whole value chain:

The Customer.

The key question: How well do you know your customers?

Getting to know your customers’ whos, whys, and hows can help brands create products and services that customers feel emotionally connected to, love, and tell others about. When you know your customers better than themselves, you are destined to beat the competition and cultivate a loyal customer base. This is why ‘the customer’ is the starting point for all GlobalLogic consultations.

Although, do it with taste. According to Gartner, more than half of customers report that they will unsubscribe from a company’s communications – with a further 38 percent saying they will stop doing business with a company, if they find personalization efforts to be “creepy.”

Omnichannel Experience.

The key question: How well do you deliver an omnichannel experience?

“Companies that provide a consistent service quality across multiple channels retain 89% of their customers, whereas companies that do not provide a consistent quality are only able to retain 33%.” Aberdeen Group.

The omni-customer is a reality and brands – regardless of their size and vertical – are pressed to develop their customer engagement capabilities to fit their customers’ context. This is no easy feat. Omni-customers are far more sophisticated than they have ever been. They expect service to be delivered to them at their channel & touchpoints of preference when and how they want. This is the second priority area and is an opportunity for GlobalLogic to step into the shoes of your customers and remove friction they face when interacting with your brand.

Optimise and Iterate.

The key question: How well do you continue to improve, innovate, and deliver CX?

“71% of CX leaders expect greater agility to translate into improved customer experiences.” West Monroe Partners.

This competency is about setting you up for repeat success. It’s about setting up practices and operations that enable and empower you to design, develop, launch, and continue to innovate products and services that are adored by your customers. From a technology perspective, it’s about adapting and embedding agile practices and leveraging the power of data & analytics, ML, AI, and automation.

Omnichannel Experience.

The key question: How well do you deliver an omnichannel experience?

“Companies that provide a consistent service quality across multiple channels retain 89% of their customers, whereas companies that do not provide a consistent quality are only able to retain 33%.” Aberdeen Group.

The omni-customer is a reality and brands – regardless of their size and vertical – are pressed to develop their customer engagement capabilities to fit their customers’ context. This is no easy feat. Omni-customers are far more sophisticated than they have ever been. They expect service to be delivered to them at their channel & touchpoints of preference when and how they want. This is the second priority area and is an opportunity for GlobalLogic to step into the shoes of your customers and remove friction they face when interacting with your brand.

Optimise and Iterate.

The key question: How well do you continue to improve, innovate, and deliver CX?

“71% of CX leaders expect greater agility to translate into improved customer experiences.” West Monroe Partners.

This competency is about setting you up for repeat success. It’s about setting up practices and operations that enable and empower you to design, develop, launch, and continue to innovate products and services that are adored by your customers. From a technology perspective, it’s about adapting and embedding agile practices and leveraging the power of data & analytics, ML, AI, and automation.

To learn more about the CX Value Chain Assessment, to get a copy of the brochure, contact us today at info@globallogic.com.

Although COVID-19 cases continue to rise globally, domestically, there are signs of recovery.

As of 24th April 2021, one in five people have had both coronavirus jabs and over half of Britain has received their first.

Most non-essential businesses have also started to open, with things looking positive for most offline retail businesses. In fact, Primark, which is a purely offline business, has had record sales at its newly reopened stores in England and Wales last week, as shoppers sought out summer fashions for the return to socialising. Conversely, Netflix has seen its shares dip by 8% as its subscription growth slows due to people resorting to real-life social events and activities.

Nevertheless, COVID-19 has made a resounding impact on societies at large and changed our daily habits, in some cases, for the foreseeable future. Our attitude towards hygiene, security, and health is unlikely to be the same for quite some time…The rapid adaption of digital devices and services is another reality that is likely to stick and continue to evolve.  Particularly, cloud and AI technologies have been transformational in how customer experience is delivered and what it means for the customers and the businesses that deliver them. The CX ecosystem will continue to evolve and the boundaries between online and offline worlds will continue to blur – to a point that it would become an existential challenge for organisations to decipher who their customers are and how best to serve, engage, and retain them?

To clarify this point, let’s have a look at the following Facebook Messenger conversation that I had with five of my friends (Emmy, Ursula, Erik, Henry, and Quin) when I had to travel abroad on short notice.

—————-

Me: Oh boy, I need to travel to Dubai this Friday!

Emmy: No bother, would you like me to book a flight for you Zaheer?

Me: yes, thanks Emmy, I would like to fly out from Manchester on Business Class after 21:00 

Ursula: Hey Zaheer, shall I book a pickup for you? You will need to be in Manchester at least 2 hours before boarding?

Me: that would be great Ursula, thanks! I am carrying only hand luggage so normal car would be fine.

Erik: Hi Zaheer, don’t forget to get your mobile tariff enabled for roaming – let me know if I can sort this out for you.

Me: Good shout Erik, it was a real pain last time – I need mobile data enabled for Dubai – could you sort that out for me, please? I need it for a week only so get me a good deal mate.

Erik: sure, I will have that sorted and will send you a confirmation shortly – I have access to your business account so it won’t take long.

Me: thanks Erik

Me: Henry, you heard the conversation mate – could you help me with the hotel reservation please? I need 3 nights near Burjwifi, B&B inclusive. thanks!

Henry: sure Zaheer, consider it done, I have your preferences on room type so I will check the rates and send you a message to confirm.

Me: Thanks, Henry!

Me: Quin, could you send me the latest facts and insights on COVID-19 Middle East please? I need to put together a quick presentation. I would prefer references from Big 4, Harvard, etc.

Quin: sure Zaheer, I have sent you the latest articles on COVID-19 Middle East from McKinsey, Delloite, HBR, and MIT. Let me know should you need more.

Me: thanks Quin – you are a star!

———————–

Ok, if you have read up to this point, you must have figured out that the above conversation is anything but real. The clues?

My friends seem to be available to chat with me instantly!

Probably available on a 24/7 basis.

They are desperately trying to serve me (like my personal assistants).

They have full access to my personal accounts and aware of my interests and preferences.

They also have authorisation to act on my behalf and execute commercial transactions – not quite ready to relinquish all of my autonomy.

In reality, you wouldn’t expect to interact with your friends this way unless there were exceptional circumstances – and even then, it would be difficult for your friends to access your personal credentials and accounts immediately!

However, this is potentially the CX of the future. The new norm. Powered by the cloud, AI, blockchain, cryptocurrencies, and edge computing. Where brands will engage with you as friends and serve you as your personal assistants.

Now, to relive the envisioned CX, I invite you to:

Reread the above conversation – only this time assume:

Emmy = Emirates;

Ursula = Uber;

Erik = EE;

Henry = Hilton Hotels;

Quin = Quora

Assume also that the underlined text represents the keyword-based triggers within conversational context – used by Chatbots to execute actions.

To complicate things further, imagine that it wasn’t me who interacted with these bots. Instead, it was my intelligent assistant based on Alexa, Cortana, or Siri.

This is the world where the face of your customers has dynamically changed from humans à to bots à to things.

Just imagine your IoT-powered fridge ordering your usual staples and complaining when things aren’t of expected quality! How would businesses cope with customer demand in that scenario? Would you resort to building manual business rules or let the ML and AI-powered algorithms pre-empt and handle the complexity?

At GlobalLogic, we help businesses of all sizes and industries envision and pursue their digital transformation ambitions so you can get ahead of the curve, or certainly have solutions in place that give you the agility to change your mind on how you deliver service cost effectively. We could even have a word with your fridge for you.

To discuss how we could help your business contact us here.

Before you close the tab, I have one final question – is your digital transformation journey catering for these developments? I would love to hear your thoughts.

Companies are finding that digital transformation is now table stakes, and the insurance industry is no exception. The benefits of adopting digital strategies and processes are clear — efficiency, enhanced value, and scalability among them.

And yet the path to digital transformation is fraught with challenges for automotive and other types of insurers. In this paper, you’ll learn about the potential impacts of insurtech on both insurers and the insured, as well as cybersecurity threats, technological integrations, and other considerations that must be a part of any digital transformation conversation in insurance circles.

Privacy-enhancing computation is on the minds of many as cloud providers strive to address the security, privacy, and confidentiality of customer data. Learn how confidential computing is answering the need with technology that isolates and protects sensitive data during processing.

In this paper, you’ll learn about the Confidential Computing Consortium and it is helping expand cloud adoption in a variety of industries. You’ll also find an overview of how confidential computing works, use cases where it can help the most, and specific business cases to solve persistent issues.

The expanding API economy is creating more challenges are created for developers. Manually creating and testing APIs no longer scalable, and teams must work together to ensure applications work seamlessly with APIs. Postman has emerged a star in the API development lifecycle, but is it right for your organization?

In this technical whitepaper, see how Postman and its CI/CD helper Newman were used as an API testing platform. If you are familiar with Postman’s basics and ready to make the most of it for API testing and development, download to learn more.

Robust open-source frameworks and DevOps integrations have brought us a long way from the early days of QA testing with clunky tools. And just as we’ve transitioned from Waterfall to agile models, our testing needs to keep pace at every stage of development.

Automation helps, but identifying use case scenarios and keeping up with the coding requirements can be cumbersome. In this paper, you’ll learn innovative ways to solve the challenges of automation testing using artificial intelligence and machine learning.

The insurance industry is maturing in its digitalization due to customer demand, regulatory compliance, and the presence of digital devices. Today, the technology available in insurance can help improve operations and enhance the customer experience. Underwriting is one area ripe with opportunity to create efficiencies, reduce costs and improve service with automation.

In this paper, you’ll learn how artificial intelligence (AI), RPA, Cognitive Computing, and various data analytics technologies can help intelligently automate underwriting in order to provide a quality, accurate and hassle-free experience. Explore the challenges of traditional underwriting, key levers in automation, how to digitize the underwriting value chain, and how this can positively impact direct sales.