Category: Digital Customer Experience

Personalizing the customer experience: The key to shaping the future of service providers

Post author By navyasree.a
Post date September 8, 2022

In today’s digital world, the success of every service provider in the connectedness industry depends on the experience it provides at every point of customer interaction. But the evolution of customer behaviors and expectations has made it difficult for the service providers to maintain customer loyalty.

According to Gartner, “Despite a mandate to create a differentiated and innovative customer experience (CX) strategy that will drive business growth, over 70% of CX leaders struggle to design projects that increase customer loyalty and achieve results”. Hence to overcome the paradigm shift in customer interactions, service providers need to reimagine customer experience by embracing the ongoing technological advances.

This whitepaper details how service providers can deliver a personalized CX across customer journeys. Further, it elaborates the three key imperatives to create a unique strategy and reimagine customer experience. Service providers must leverage the key imperatives with the power of the cloud, data science and AI to achieve digital transformation and customer delight.

Fig.Reimagining CX with 3 key imperatives

To overcome the paradigm shift in customer interactions, service providers need to reimagine customer experience by embracing the ongoing technological advances.

Tags Hyperautomation, RPA

Digital Customer Experience

Establishing digital trust in intercarrier settlements

Post author By selvakumar.cp
Post date September 1, 2022

Leverage blockchain to automate dispute management and reduce the settlement time

Service providers in the connectedness industry receive intercarrier invoices worth over USD 1.2 billion annually and are challenged with revenue blockage of more than 25% due to disputes. Managing disputes and improving trust in intercarrier settlements is challenging for service providers. The traditional approach of dispute analysis and resolution is inefficient, delaying settlements for several months. The most common causes of dysfunction are:

Multiple siloed teams and manual handoffs cause delays between invoice auditing and settlement
Prolonged and expensive verification of claims due to third-party intervention
Dependency on intermediaries for settlements is prone to high-security risks

The aforementioned challenges increase the cost of managing and resolving disputes. As the interconnect margins continue to decline, shifting to a smarter dispute management process will become critical for addressing the revenue blockages. Blockchain-powered dispute management increases the security, transparency, and traceability of settlement data shared across the network, reducing the settlement time by 60%. The inherent capabilities of blockchain reduce the dependency on intermediaries, with a simple, near real-time, error-free reconciliation and settlement process.

Leverage blockchain-powered dispute management to reduce the settlement time

Implementing blockchain-powered dispute management increases the security, transparency, and traceability of settlement data shared across the network, thereby reducing the settlement time by 60%.

Digital Customer Experience

Accelerating the shift to digital channels

Post author By gayathri.b
Post date July 12, 2022

Migrate your customers to digital payments using AI/ML

Customers around the world interact with the service providers for various use cases like payments, trouble tickets, service requests, and billing enquiries. However, a larger percentage of these interactions are still happening through traditional channels and service providers find it hard to shift their customers to digital channels. According to McKinsey, “Only 16% of enterprises see their digital transformation succeeding, and a major reason for that failure can be attributed to the poor digital adoption rate.” A few major challenges faced by the service providers in improving their customers’ digital adoption are listed below:

Lack of mechanisms to target the right set of customers
Difficulty in migrating and adapting to the digital channels due to complex and outdated processes
No end-to-end visibility of digital adoption

To overcome these challenges, and improve the digital adoption rate and customer experience, Prodapt recommends service providers in the connectedness industry to leverage an AI/ML-based approach. McKinsey’s consumer survey responses indicate that interest in digital payments continues to grow and this insight details on leveraging an AI/ML-based approach to shift the customers to digital payments.

According to McKinsey “Only 16% of enterprises see their digital transformation succeeding, and a major reason for that failure can be attributed to the poor digital adoption rate.”

Fig:Leverage AI/ML-based approach to improve digital adoption rate in payments

Digital Customer Experience

A blueprint for digital customer experience implementation

Post author By navyasree.a
Post date June 16, 2022

Become digital-first organization and deliver superior experience faster to the customers

Service providers in the connectedness industry have invested heavily in tools and technologies to help them understand their customers more deeply and to gain the advantages of superior customer experience (CX). In the past, when executed well, CX investments have yielded good results: customer retention and acquisition, increased sales, and loyalty. But the world has changed. How we interact with brands has evolved and so too has customer experience. Yet as service providers strive to form a more complete picture of customer preferences and behaviors, they continue to struggle with inherent organizational and technological challenges, which includes organizational and cultural challenges, lack of digital maturity, lack of hyper-personalization, and increasing business complexity.

To overcome these challenges, service providers must digitalize their entire CX landscape by evolving from a multi-stack and multi-channel operator to a unified digital operator. This can be achieved by empowering people and processes with domain driven approach, shifting to mono-repo, hyper-automating development process with CI/CD and implementing the digital experience platform framework. Eventually, the digital CX implementation will enable service providers to become a digital-first organization and bring superior customer experiences faster to market.

Service providers must digitalize their entire CX landscape by evolving from a multi-stack and multi-channel operator to a unified digital operator

Key transformation focus-areas to deliver a superior digital CX across multiple channels

Right now, we’re on the brink of an experience renaissance. CX is not going away, but its value proposition is stalling because many of the fundamentals of CX are now commonplace and no longer enough for differentiation and growth. This renaissance is galvanizing service providers to push beyond the CX philosophy and reimagine their entire business through the lens of experience. Thus, it is critical that every service provider must build digital capabilities to deliver exceptional experiences for their customers.

Digital Customer Experience Insights

Using AI to understand how your customers feel

Post author By haripriya.r
Post date June 13, 2022

Predict Net Promoter Scores and identify whether your customer is potentially a promoter, neutral, or detractor. Take corrective actions timely to improve customer service.

Customers today expect a seamless and hassle-free interaction with their service providers. A dissatisfied and frustrated customer will quickly opt to switch. Thus, for the service provider, it becomes very crucial to understand the customer experience and promptly take corrective measures if it lags. One key metric to understand this is using the Net Promoter Score (NPS). It provides customer loyalty and satisfaction measurement by asking customers how likely they are to recommend your product or service to others on a scale of 0-10.

To capture NPS, service providers share the survey forms with their customers. But do customers respond to such surveys? Research shows that only 15-20% of customers respond to the NPS survey after their interactions with customer support. Does it mean the service provider should not take any action for the remaining 80-85%, assuming they would have a good experience? There is a high possibility that a customer not satisfied with the service would have already decided to opt out without taking any effort to respond to the survey.

Most innovative service providers are trying to address this problem with a machine learning (ML) approach.

Fig: Key steps towards building ML Model for CSAT Prediction and Improvement

NPS provides customer loyalty and satisfaction measurement by asking customers how likely they are to recommend your product or service to others

Digital Customer Experience

Making of an intelligent Virtual Agent to transform Customer Experience

Post author By haripriya.r
Post date June 13, 2022

Leverage a Machine Learning-based approach for optimizing Virtual Agent Training to improve its precision, recall and accuracy

Virtual agents are an integral part of businesses with an online presence as they provide round-the-clock assistance to customers. They augment teams to enable a rich experience for both customers and live agents.

The success of any Virtual Agent (VA) depends on its Natural Language Understanding (NLU) training, which should not be just a one-time activity before the configuration, but a continuous process. The challenge is to provide the right set of representative examples from historical data for the training. Identifying a few hundred sample examples from millions of historical data is a herculean task. Moreover, this task is often done manually. Thus, the task of finding the most suitable examples becomes questionable as well as extremely time-consuming.

Service Providers must develop a Machine Learning (ML)-based tool to identify the most appropriate and small data set of representative examples for training. The examples cover maximum scope for the respective intent, making NLU training highly efficient with improved precision, recall and accuracy. The ultimate benefit of this is improved customer experience, containment, and reduced abandonment. Since this is a tool-based approach, it also saves a lot of time in comparison to the manual process of identifying the training examples. Improved training efficiency in the first go also saves time and effort during subsequent re-training.

Figure 1: ML-based intent analyzer tool

VAs often fail to satisfy the customers due to their inability to identify the right intent. And this is the effect of wrong or inadequate training of VA’s natural language understanding (NLU) engine.

Tags OSS/BSS

Digital Customer Experience

Simplify e-commerce selling

Post author By gayathri.b
Post date January 13, 2022
No Comments on Simplify e-commerce selling

Gain wins by successfully recreating the offline buying experiences online

Understanding your customers needs and preferences has become increasingly crucial to winning in the digital economy. Digital commerce excels at providing choices to the long tail of users. Yet this very strength can result in a lack of intuitiveness for customers.

The promise of friction free commerce is a receding horizon. One reason is that the websites and user interfaces fail to comprehend their customers, leaving them confused and disappointed. As a result, the customer ends up switching to offline stores, which impacts the business’s potential to monetize their eCommerce platform.

The success of the digital economy increasingly depends on knowing your customers’ needs and preferences.

As an enterprise, you need to uncover innovative ways to transform your e-commerce platform. Adopt disruptive solutions that will revolutionize your e-commerce space by encouraging more customers to go online. Focus on these four key areas to re-imagine your e-commerce platform:

Perform competitor, product and customer analysis to benchmark ideas and bring in best practices
Visualize how users behave and interact across the web pages to improve user engagement
Use features (e.g., flagging), tools, and systems to swiftly deliver new products and offerings to customers
Build SEO engine to improve site performance

Tags Application Modernization, UI/UX engineering

Digital Customer Experience

Experience can make a huge difference – Get it right

Post author By gayathri.b
Post date August 27, 2021
No Comments on Experience can make a huge difference – Get it right

Mastering the implementation of digital capabilities is the key to overcome experience disconnect

Would customers pay more for the delightful and seamless experience their favorite brand offers? In the coming years, most of them certainly will. Research shows that 86% of buyers are willing to pay more for a great experience. Experience has become a key brand differentiator, overtaking the price and product. Yet, many organizations may not grab this opportunity completely – as their customers may experience disconnect in the digital world.

Getting the experience right requires implementing the right digital capabilities that consistently delight customers in every interaction.

The perception of a brand is built upon accumulated consistent interactions across multiple digital touchpoints. Getting the experience right requires an organization to implement the right digital capabilities that consistently delight their customers in every interaction. But as a matter of fact, most digital initiatives fail to reach their stated goals. One major reason is the gap between strategy formulation and strategy implementation. Incorrect implementation choices taken at the beginning of the project can make the organization rigid and unadaptable to deliver a seamless experience.

What can businesses do to make first-time right digital implementation choices? Critically evaluate the maturity of existing digital capabilities and plan the transition steps more methodically. Before starting the digital implementation journey, businesses must get the right answers to “Where to start?”, “How to start?”, and “How to get a head start?”.

Tags Customer Experience, Digital Experience Platform

Digital Customer Experience

Customer experience-centric contact centers- an evolution in digital age

Post author By gayathri.b
Post date January 7, 2021
No Comments on Customer experience-centric contact centers- an evolution in digital age

Leveraging digital-first model and Artificial Intelligence technology to deliver a superior customer experience

In today’s fast-paced and competitive world, just having satisfied customers isn’t good enough. There is a dire need for businesses to innovate digitally to enhance customer service. But Customer Experience (CX) is beyond good service. CX is your customers holistic perception of the experience that they get from every touchpoint of your business or brand.

Having said this, most enterprises still rely on traditional models that are reactive, slow, complex, and disconnected. Due to this, they hold low Net Promoter Scores (NPS). And their inability to keep pace with the technological advancements in the contact centers is a primary reason for this.

Most businesses have been struggling with high call volumes and costs. As the number of calls rises, it becomes difficult for agents to handle customer queries quickly. Due to the long wait-time and the unavailability of agents, businesses tussle to provide a seamless and more intuitive customer experience. So diverse and vast are the communication systems and channels of today’s multifaceted contact center—that being ‘Connected’ demands a modernized and transformed customer engagement ecosystem.

A digitalized contact center can help you improve the Net Promoter Score (NPS), reduce call volumes, and save OpEx.

The good news is that realistic solutions exist to overcome this problem. Use enablers and tools like ‘360-degree view’ and ‘AI engine’ to help the agents with a holistic view of systems, provide quick diagnostics and intelligent recommendations. An ‘AI-based conversational engine’ helps customers with an intuitive self-service experience.

A digitalized contact center can help you improve the Net Promoter Score (NPS), reduce call volume, and save OPEX. It empowers your customers to make quick decisions using the multiple self-service options available at their disposal, hence diminishing their need for an agent. It marks the future of the digital-first age.

Tags Customer Experience, Customer Journey Modernization

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Category: Digital Customer Experience

Personalizing the customer experience: The key to shaping the future of service providers

Establishing digital trust in intercarrier settlements

Accelerating the shift to digital channels

A blueprint for digital customer experience implementation

Using AI to understand how your customers feel

Making of an intelligent Virtual Agent to transform Customer Experience

Simplify e-commerce selling

Experience can make a huge difference – Get it right

Customer experience-centric contact centers- an evolution in digital age