DigiTech Magazine - US CIO2020 - Fall 2015 | Page 18

BUSINESS .................................................................................................................................................................... TECHNOLOGY CUSTO 3. DIGITAL PARTNER AND SUPPLY CHAIN INTEGRATION – This is possibly the biggest opportunity and often overlooked. It’s full of efficiencies and new business opportunities. Straight through processing can remove whole departments and fundamentally change the service you are able to provide. Automation can knock zeros off costs, and this is an area where the BPO industry is starting to bring fully automated BPO to the market if you really can’t do away with the process entirely. There is another shift too. Buyers are not all powerful anymore, it’s common to see businesses refusing to supply clients who they can’t deal with digitally in the low margin B2B world. Part of this world that overlaps with CE is the whole order fulfillment, we’ve seen countless examples of CE getting ahead of this area resulting in large scale publically damaging customer fails. This area requires quite an agile strategy, it is too big to tackle it all and there are lots of unforeseen roadblocks as you can’t always get the whole ecosystem to dance to your time. An approach that allows you to pick the low hanging fruit and quickly switch to other areas when needed works best. Get the COO and the CFO on board with the plan here as they will be key stakeholders and hopefully delighted beneficiary’s if their expectations are well managed. 4. DIGITAL BUSINESS MODEL DISRUPTION – This is both an opportunity and a big threat. Doing the three above will open up opportunities to fundamentally change your business model. Not doing them will leave those opportunities to new market entrants or your competitors. Ideally here the strategy will be to consciously review the strategy regularly, not annually, to encourage input from the whole workforce you’ve empowered to innovate. There is an opportunity in this space to be the most trusted advisor to the CEO for the business focused CIO. We’ve only really skimmed the surface here, but hopefully that’s enough to start shaping the real question if you are fortunate enough to be asked…. 18 CIO Magazine Fall 2015 Issue STRATEGY Define your vision Understand your CX maturity Get to know your current and Insights Foresights future customers Behavioural segments Align your brand and build your bran d wheel Develop your CX principles MEASURING AND IMPROVING (1) Define metrics - what are you trying to improve? (2) Set up and agree measurement framework (3) Measure and tweak