CEOs need to transform their approach to customer experience by 2020

Axway challenges CEOs of small businesses to transform their approach to customer experience by 2020.

Customer experience networks form, shape and evolve the customer journey

Customer experience networks form, shape and evolve the customer journey

Axway, a catalyst for transformation, today calls on organisations to transform themselves in order to meet the rapidly increasing expectations of digitally empowered customers.

With demands for more choice, responsiveness and personalisation, Axway predicts that by 2020, organisations will have had to completely rethink existing business processes by co-creating the customer experience with other constituents in the customers’ journey. This will spur new value creation not previously achievable by a single organisation or sole line of business.

To date, organisations have adopted an omni-channel approach to unify the customer experience, but this has rarely proven sufficient or successful in delivering a ROI. Going forward, Axway believes that organisations must leverage insight from a vast array of internal and external data sources to meet customer needs and stay competitive.

To do this, they need to tap into ecosystems of employees, suppliers, partners, and developers – what Axway calls customer experience networks – whether the customer is in a B2B or B2C industry.

‘While all CEOs have been investing in technology for decades to improve the customer experience, in many ways, technology has actually pushed customers away rather than engage them,’ says Jeanine Banks, executive vice president, global products and solutions, Axway.

‘By taking a more holistic approach that focuses on being open to co-innovation with constituents, while also capitalising on insights from internal and external data sources, organisation leaders can realise their transformational power and inspire their customers to push their digital boundaries.’

Customer experience networks form, shape and evolve the customer journey for various types of consumers including shoppers, patients, homeowners, drivers, travellers and professionals, and more.

Organisations that previously lacked a unified and real-time view of customer experiences can now broker or participate in their customers’ ecosystems to gain visibility into complete customer journeys across enterprise and third-party touch points. With customer experience networks, enterprises will be able to:

Continuously anticipate and adapt to changing market conditions and customer expectations

Quickly design and introduce new products and services to differentiate themselves from their competition

Easily collaborate with new stakeholders across value chains that were not accessible before

Efficiently develop, launch, and industrialise new business models to capitalise on new revenue streams and grow their bottom line

‘Axway has clearly recognised that data is the core currency of digital business engagement models and the context of how data is processed, integrated, and subsequently analysed to derive actionable insights is critical for ensuring close alignment with customer expectations,’ says Saurabh Sharma, senior analyst, Ovum.

Further reading on customer experience

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