With more channels, teams, and systems involved than at any point in history, businesses must consider how to deliver complete, connected customer experiences. The answer to this obstacle is Multidomain MDM and integration.
How can banks operating on a 20th century business model adequately service customers with 21st century expectations?
The web is littered with good API intentions gone wrong. Too many businesses have realized they “need APIs” and created them as a tick-the-box feature without thinking about their broader strategic value. One critical difference between the businesses that succeed and those that don’t is the underlying approach by which APIs are planned and conceived. Put simply: Is the API a project or a product?
Rather than following a one-size-fits-all approach, the most successful businesses are rapidly tailoring offerings for customers in real time.
The insurance industry is operating in an age of radical disruption. Traditional insurers are no longer safe, with insurtechs challenging incumbents to rethink their business and operating models.
Customer experience is a key competitive differentiator for businesses across industries––from retail to banking. Every part of the business has an important role to play in delivering unique customer experiences; which is why the “business” and “IT” must now, more than ever, collaborate to create customer experiences that differentiate their brand from their competition.
Customer behavior is changing, and expectations are now higher than ever. Successful organizations across various industries recognize that a customer-centric approach is necessary for competitive differentiation. The ability to provide innovative products and services to customers, while delivering a unique experience to customers, is top-of-mind for CIOs.
We all seem to take it for granted now. We go to a retailer’s website or mobile application. We click on the product we want. Instantly, we have access to inventory levels, expanded product descriptions and specifications, what other people think about the product, related products or accessories, and alternatives to the product. Within a couple of clicks, we can make up our mind on a product, order it, and receive a confirmation of order acceptance.
The retail industry continues to adapt to changing customer expectations and connecting to the modern customer through digital channels. Today, 79% of Americans shop online and expect a compelling customer experience across channels. In fact, customers that have personalized online shopping journeys spend 140% more than their counterparts.
Businesses today are going through radical digital transformation in an attempt to create better customer experiences. From mobile to Facebook Messenger to connected home devices, customers today engage with businesses through a variety of digital channels. A single consumer, for example, can have over 900 digital interactions when purchasing a car.
