Category : Opinion

Mobile Technologies Opinion

Role of Design Thinking in crafting end-to-end customer experiences

How often have we come across businesses which have had enviable success and are lost into oblivion now? Take for example, the downfall of Blockbuster with the rise of Netflix, Kodak’s failure with the rise of digital photography or the shutting down of Orkut with Facebook flourishing. All the above examples come from completely different industries, but one thing remains constant – businesses’ failure to understand consumer needs and adapting to change.

So what does this mean for enterprises today, in the era of data deluge and digitization?

With the unlimited amount of data about consumers, it might seem obvious that businesses have more than enough information to understand what the consumer exactly wants. And, that is true to some extent. That is why prudent businesses are not just reshaping their business processes but also business models.

This understanding has lead to the emergence of three kinds of business transformation –

1. Product companies transforming into Product & Services

Pure product companies are transforming to offer services and ecosystems to extend their offerings. For instance, companies like Daimler and BMW picking the pulse of the sharing economy pro-consumer of today and getting into car rental businesses or Phillips transforming from home lighting solutions to a provider of connected systems.

2. Service companies adding products to their portfolios

Service companies are going beyond their niche and launching their own products. For instance, e-commerce giant Amazon launching suite of products like Amazon Echo, Kindle and Fire Stick.

3. Customer oriented ecosystems

More and more businesses are realizing the value of creating a consumer environment where they can offer delightful experiences to their patrons. For instance, brick and mortar retailers opening up their online portals or using technologies like AR/VR and Artificial Intelligence to augment the retail experience and e-commerce players opening their physical stores are examples of businesses trying to create ecosystems that are consumer-oriented and simplify their lives while providing them a delightful experience.

While we are seeing a profound change in the way the business landscape is reshaping owing to digitization and the lines between products, services and environments are getting blurred, is that enough?

Today’s consumers seek seamless and connected experiences. Imagine a well-designed e-commerce platform with an awry checkout process. The customers will not mind abandoning the platform at the very last step, never to come back again. In fact, a complicated checkout process is one of the topmost reasons for cart abandonment on e-commerce portals.

The realization that all businesses, whether B2B or B2C are H2H (Human to Human), is imperative for organizations to build relationships with customers and Design Thinking fills the gap of the human element.

Design and Design Thinking are often confused as the same term, and that is far from true. There is a difference between Design and Design Thinking. Former is mostly misunderstood to be limited to how things look, the graphics and design element. Usability and ‘how it works’ has been the hallmark of good design for ages – even before the term Design Thinking was coined.

A good design is about creating a solution that is intuitive, anticipates the latent needs of the consumer and is future ready and thus, Design Thinking is much more than just incorporating great graphics into a product and making them look attractive.

“Most people make the mistake of thinking design is what it looks like. People think it’s this veneer — that the designers are handed this box and told, ‘Make it look good!’ That’s not what we think design is. It’s not just what it looks like and feels like. Design is how it works.” — Steve Jobs

Design Thinking is a human-centered, iterative design process consisting of 5 steps—Empathize, Define, Ideate, Prototype, and Test. It is useful in tackling problems that are ill-defined or unknown. Design Thinking is a concept that can simplify consumer journey and add value across industries and functions.

Design Thinking

Take for example IBM created billboards their IBM’s People for Smarter Cities initiative. The billboards acted as ramps, benches, or rain shelters. Such a simple yet effective idea!

IBM created billboards their IBM’s People for Smarter Cities

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Another hallmark of striking the right human chords and creating delightful customer experience through Design Thinking approach is the story of Doug Dietz from GE healthcare creating Adventure series MRI machines for children.

Doug Dietz was an industrial designer, working for GE Healthcare. When the first time he saw a little girl who was crying on her way to a scanner that was designed by him, the horror of the experience struck him. Doug reminiscences:

“The room itself is kind of dark and has those flickering fluorescent lights”, he adds in his TED talk “that machine that I had designed basically looked like a brick with a hole in it.”

Inspired by the principles of Design Thinking Doug created the ‘Adventure series MRI machines’ which reformed the horrid experience of going through the scanner to an enjoyable one.

 

Adventure series MRI machines

Image Source

As rightly said by our CEO Ravi Teja Bommireddipall

‘’Customers cannot always articulate what they want; they can tell you their pain points but meeting the latent needs of customers from those pain points is where real innovation happens. To understand these latent needs, it is crucial for entrepreneurs and product innovators to empathize with their customers. This will only be achieved when we step into the customers’ shoes and live with them, and that cannot happen inside an air-conditioned office, looking at a heap of data. I call this GOOB – go out of the building, and live with your customers.’

For instance, McDonald’s India wanted to make their mobile app the preferred medium for ordering. The vision was to bring the emotions of joy and delight from in-store to the new McDelivery app experience. We made several store visits, observed the customer, identified their pain points and crafted an app that delighted the customers. The new app was able to garner 103% more orders than the older one.

So what is the role that Design Thinking plays in creating a delightful end-to-end customer experience?

In a digital world, the competitive landscape is flattened and the barriers of entry are low. Businesses are continuously reinventing themselves to meet the demand of the new age consumer.

Uber disrupted the transportation industry, without owning any cars but with a well-designed intuitive app. Airbnb disrupted the hospitality industry by upgrading a simple idea of room sharing into a well-designed website and mobile app. These enterprises testify that having innovative ideas isn’t enough capitalizing on that idea with the help of exceptional design and intuitive user experiences are the key to success.

In the digital era, where customers are empowered by information and are spoilt for choices it is imperative for businesses to add elements of design at the heart of every brand experience.

By design, these experiences elevate the consumption of personalized content and experiences at every touchpoint. Design-led organizations like Apple or IKEA realize the contribution of human-centered design in crafting engaging customer experiences and eventually to the growth and ROI of an enterprise. Hence, Design Thinking is at the heart of their strategies.

Key aspects of creating design-led customer experiences

Key aspects of creating design-led customer experiences

1. Understand the customer’s needs and perspectives

For most businesses innovation is approached from a technological point of view. However, the Design Thinking approach is about keeping the consumer’s perspective first. Understanding and resolving core consumer pain points will lead to a product that is consumer oriented and offers a delightful experience to them.

2. Create Personas

As quoted by our CEO Ravi in this article

“Know thy customer” is a familiar term to marketing and sales executives. Yet marketers who don’t take the steps necessary to better understand their customers will not be successful. Regardless of how you gather information about customers, it’s imperative that you use the information as a basis for understanding what makes the customer tick.’’

By developing personas of the customer base, businesses can come closer to the psyche of the consumer. Once businesses empathize and understand the consumer profiles, they will find a better way to not just connect with them but add value to the experience. The persona should include an image of the imaginary customer, demographic profile, attributes and motivations, needs, pain points, and actual customer quotes.

3. Empathy mapping

Empathy mapping is a collaborative process to gain deeper insights about consumers. An empathy map can represent a consumer segment and can provide a complete picture of the customer and what actions they might take as a result of their beliefs, emotions, and behaviors. Empathy mapping has 4 quadrants labeled as ‘think’, ‘feel’, ‘say’, ‘do’ to help make sense of different aspects of the customer’s experience and preferences.

Empathy mapping

4. Mapping the customer’s experience journey

Businesses today have a plethora of customer touchpoints digital and offline and hence enough data to understand the consumer. However, they continuously struggle to understand customer motivations and influences. This is where customer journey maps help.

Customer journey maps enable businesses to understand the consumer needs and hence build relationships by solving for those at every touch point. According to a research, customer journey maps improve marketing return on investment by 24 percent and shrink sales cycles by 16 percent. A great customer journey map should articulate an ideal customer experience and act as a guide for businesses to deliver that. According to a study from Adobe and Econsultancy, companies with a focused, customer-first approach are more than twice as likely to rise above competitors.

5. Create product roadmaps and prototypes

In today’s world; customer needs, market forces, and innovation across industries are reshaping the customer experiences continuously. It is imperative for businesses to adopt an Agile approach. Hence smart businesses do not go about launching a full-blown product, rather they create an MVP (Minimum Viable Product) which allows them to test, experiment and improve, more often and faster. Creating product roadmaps and prototypes before launching the final product minimizes the chances of errors and leaves scope for further development.

Iterating with customer feedback is an efficient way to create customer experience prototype, these pilots can lead to secure outcomes before scaling the product.

For instance, at Robosoft we partnered with Athenahealth, they had developed a medical reference app that doctors were using to check interactions between drugs. The problem was that the doctors didn’t find the app very useful. Based on the feedback from the doctors, the app was redesigned to include sponsored and original personalized content. The redesigned app with upgraded features helped keep doctors engaged and asking questions or sharing information, not just sending information to the doctor.

Businesses should build processes to manage these prototypes in an Agile way, through sprints and frequent feedback from users, with a focus on developing business value.

6. Product testing with the end user

The end user will not experience the product in a controlled and predictable environment, and hence Product Testing with the end consumer is one of the most essential steps of a Design Thinking process.

Most design driven enterprises have their Design labs where they are in an early phase of user research when products are not ready to be launched into the field, but insights can be drawn by observing how people interact with prototypes for different concepts. Simulated environments are created for users are created to experience the products and then the user interactions are measured with various tools like heat maps, touch maps, screen flows, user analytics platforms, etc.

Challenges in implementing customer experiences using Design Thinking

While using Design Thinking to build customer experiences seem like an easy solution, it is easier said than done. It is more than just a cognitive shift, there are organizational and business challenges that need to be met. Some of them are:

Challenges in implementing customer experiences using Design Thinking

1. Short-term thinking

Manier times enterprises see Design Thinking as a short term approach to a particular project or a product. In a world where technology is changing consumer experiences and needs every single day, a short-term approach and vision will not help in yielding the best results out of the Design Thinking strategy. Business leaders have to think about the entire ecosystem where the consumer exists and the future before defining their strategy. By starting small but thinking big enterprises can work towards a successful Design Thinking strategy. Take for example, Paytm which started as a mobile recharge platform to one of the largest mobile payments platform with over 7 million merchants and 300 million registered wallet users, and now a major e-commerce platform. Paytm couldn’t have done all this without envisioning and keeping a pulse of the changing ecosystem around the consumer, and working with a long-term goal around that.

2. Scaling

Given the expanding surface of customer touch points in an always-accessible and always-on era, scaling the Design Thinking approach to every touch point can be a daunting task for businesses.

3. Challenge of pace

Today, global brands have to address and engage with customers and offer a personalized experience to tens and thousands of customers at a time. Which might need technology and access to a huge amount of data and process in place. Effective design needs to be efficient, as well as engaging. Not all businesses are equipped to do that at every stage.

4. Building a design culture

As Design Thinking becomes the buzz word in this age of the consumer, businesses will need to align the organization to have a design-oriented approach. Most organizations try to do that in two ways – by either having a team of designers across all their product teams or by creating a design team that rotates among project groups. While organizations have to identify their own approach basis their organizational culture. Each of these approaches might have their own shortfalls for instances having a siloed team of designers for n number of projects may lead to disjointed products as product team’s and design team’s vision might be different. Similarly having an internal consultancy might take up only big projects leaving the minute design gaps to be filled by the product teams. Airbnb has a unique approach to having a consumer-oriented design culture Every project team at Airbnb has a project manager whose explicit role is to represent the user, not a particular functional group like engineering or design. According to Alex Schleifer, product head at Airbnb

“Conflict is a huge and important part of innovation, this structure creates points where different points of view meet and are either aligned or not.”

5. Designers’ and product stakeholders’ perfectionist block

More often than not product stakeholders want to launch a product that is ‘perfect’. However, that is one of the major roadblocks in the Design Thinking approach. Design Thinking approach is iterative, Data and Analytics-driven. In this ever-changing world product managers and enterprises should be ready to launch a Minimum Viable Product and then iterate it basis consumer feedback and data and then scale further in a step-by-step manner.

In conclusion:

The most innovative companies in the world like Apple, Coca Cola, IBM, etc. have one thing in common, they use design as an integrative resource to innovate more efficiently and successfully. According to the DMI index design-led organizations outperform S&P by a whopping 228%. The convergence of technology, business environment and changing consumer preference is opening doors for unlikely competitors as well as newer opportunities. To succeed and take advantage of the opportunities, enterprises will have to adopt an Agile, design-led development process with the continual redesign and understanding evolving of customer journeys.

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Mobile Technologies Opinion

Security Considerations When Developing Enterprise Digital Solutions – Part II

Today, security is a major concern for enterprises across domains than ever before. Last year, malware-based cyberattacks have led to a sales and revenue loss of almost $300 million by leading global enterprises.

In the previous article, we outlined the top security threats that organizations are facing today. In this article, we will dig a little deeper into the topic of security considerations that enterprises should keep in mind while implementing a digital enterprise solution.

Whether you are planning to build an enterprise digital solution in-house or buy one from a third party, here are the points to remember and guidelines to follow before making a decision:

 

Security Guidelines for Implementing an Enterprise Solution

Identification of Gaps in The Current System

Properly analyze the need and pain points that the digital solution will help resolve. If your business can really benefit from an enterprise mobility solution, you can immediately figure it out from the information dissemination flows within the various processes. Unfortunately, this seemingly simple step is often overlooked in the race to stay ahead in the industry.

Scalability of the Digital Solution

Before developing any digital solution, you need to ensure that you have a solid software architecture that is scalable and resilient. Having a robust software architecture exemplifies several important attributes like performance, quality, scalability, maintainability, manageability, and usability.

Making scalability and resilience an integral part of the development will allow the app to sync up with the changing business requirements and the evolving risk landscape. It can also save you from bad customer relations, cost overruns because of the redesign, and revenue loss.

Involving Just the Required Functions

Try not to impose solutions on your frontline staff. Instead, understand how the business will leverage it. Investing in an enterprise mobility solution without completely understanding its usage can leave open gaps in the system and leave the staff clueless about its functions and utility. Therefore, an in-depth understanding of the day-to-day operational activities and how these solutions will enhance routine tasks is crucial while selecting the solution.

Performance of the App

The same effort that you would invest in product conceptualizing and development should be put into testing and quality control for your digital solutions. App testing is paramount if you want your software to perform well. Ask your team to test the application so that there are no loopholes identified during its usage. Needless to say, you would want to ensure that your app performs well to give an enhanced user experience.

Data Management on the Device

Data management on devices is critical for the security of the app and goes beyond locking down the devices. The device data should be encrypted, protected with a password, time-bombed, and even remote-wiped. Some of the other ways to protect data are by granting/denying permission to store a file and building security for data flow.

Evangelizing the Technology

A huge roadblock for the organizations is the inertia towards adopting the technology itself. Most teams set in the traditional operations are often unwilling to shift to a new style of working. The only way out of it is to test the solution on a small set of employees and see how the product works. It is all about gaining the trust of a few people who can then become natural influencers of the product.

Going big-bang with any new technology can backfire and is naturally not a good idea.

Cloud Security

The cloud has provided organizations with a completely new frontier for data storage and access, flexibility, and productivity. But with all this comes a world of security concerns. Ensuring that you follow the best of cloud security can avoid data breaches and malware attacks and keep your organization’s integrity and reputation intact.

Protecting the Source Code

Reviewing source code for vulnerabilities and security loopholes is an important part of the software development process.

Protecting the source code of the app is important for two main reasons:

  • First, it protects the business’ intellectual properly while encouraging digital innovation,
  • Second, it protects the organization and its clients from attempted attacks on the company’s digital solutions.

Use a strong security check over source code by limiting access, auditing the source code periodically and reviewing the codes independently.

Firewalls and Updated Virus Definitions

A firewall protects your computer and digital solutions from being attacked by hackers, viruses, and malware. Having a firewall allows organizations to create online rules for the users and set up access to certain websites and domains, enabling them to control the way in which employees use the network. Some of the ways a firewall controls online activities include:

  • Packet filtering: analyzing and distributing a small amount of data based on the filter’s standards.
  • Proxy service: saving online information and sending to the requesting system.
  • Stateful inspection: matching specific details of a data packet with a reliable database.

Use SSL Certificate Links

Certificate underpinning means using an SSL certificate to verify users. An SSL certificate links an organization’s details with an encrypted key to allow users to connect securely to the application’s servers. There are several organizations that do not use certificate underpinning, which makes them susceptible to cyber attacks.

Using Complex Passwords and Encryption

Needless to say, having weak security measures is as good as having no security standards. Organizations are always advised to use strong passwords and change them frequently to avoid security breaches. Using end-to-end encryption ensures that user data is secured and is at the least risk of being compromised or jeopardized.

Looking out for Impersonating Solutions

Another security aspect of digital enterprise solutions is the existence of impersonating solutions. These impersonating solutions are malware that creates almost a replica of legitimate copies to fool users into downloading them.

Once downloaded, this fictitious software can harm the system in several ways, from remotely accessing devices and stealing information to bombarding users with pop-ups and advertisements. In any case, whenever an organization’s security is compromised, it is always the user’s data that is at the risk of being exploited.

App Distribution

Once you’ve created an in-house app, the challenge will be in distributing it. Enterprise apps can either be distributed in-house or can be provided through various operating systems. However, the job is not as easy as it sounds.

While a private app is not intended for distribution through an App Store, there are several ways they can be distributed outside it, including iOS app ad hoc, through Xcode or Apple Configurator 2. You can also sign up for Apple’s Enterprise Deployment Program for app distribution.

Final Thoughts

Cybersecurity has to be one of the priorities of organizations when developing enterprise digital solutions. But with this, you need to understand how to test your solution’s security to safeguard your organization. The security considerations mentioned above are not necessarily the only thing to keep in mind while developing the solutions, but they are definitely a good place, to begin with.

After all, if your business isn’t already digital, it soon will be. To prepare for that, you need to offer the most secure digital experiences to your clients, employees, and business partners, irrespective of their location or the devices they use.

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Mobile Technologies Opinion

Security Considerations When Developing Enterprise Digital Solutions – Part I

Enterprise digital solutions can be really beneficial for your organization, but they can be equally detrimental if security isn’t your top concern.

We live in a digital age where information is sacrosanct. While digital transformation is forcing business leaders to either disrupt or be disrupted, it is also leaving the doors open for data breaches and cyber threats. With data privacy taking the center stage in 2019, organizations cannot let vital information slip between the cracks in the coming years. Data theft or loss can cost organizations millions, whether it is direct business losses, audit, and regulatory fines, compliance remediation costs, or most importantly — the loss of client trust, reputation, and brand equity.

With so much on the line, businesses need to devise a robust security infrastructure while developing enterprise digital solutions.

Several organizations around the world are spending hundreds and thousands of dollars on data security.

But is that enough in the digital world?

Cybersecurity is the main focus of several organizations that rely on advanced technologies such as cloud computing, business intelligence, Internet of Things, machine learning, etc. For such organizations, threats of ransomware and distributed denial of service attacks are just the start of a long journey towards digital transformation.

Let us look at some of the top security threats that organizations are facing today.

Enterprise Security

Lack of a Complete Enterprise Security Architecture Framework

It is a known fact that enterprise security architecture is a methodology that addresses security concerns at each step. But more than often, the current enterprise security architectures are not that evolved, if not completely absent.

Uncontrolled Cloud Expansion

The frenzied pace at which businesses are adopting the cloud as a key part of their digital transformation has raised several eyebrows in the last few years. While businesses remain undeterred in adopting the cloud, there is a growing need to create and implement resilient security to support this rapid adoption. Today, protecting data in the cloud environment and supporting the cloud’s native security capabilities are critical.

Network Security

With the drastic increase in cyber-espionage groups trying to compromise vulnerabilities in routers and other devices, network security is also causing sleepless nights for network managers across organizations. The continuous evolution and escalation of threats and vulnerabilities make it a concern that is here to stay for long.

Security, which was once a tiny component of any organization, has gradually evolved into a significant function that will determine any organization’s success. Rising security threats in today’s world have emerged due to new age digital technologies. Security and risk management leaders are currently tasked to safeguard their organizations from cyber attacks with tighter regulations. Security breaches can disrupt the business model of organizations and jeopardize their reputation almost overnight.

The cost of breaches and security compromises can be in millions and result in reputation damage almost immediately. According to the 13th annual Cost of a Data Breach study by Ponemon Institute and IBM, the global average cost of a data breach has climbed 6.4 percent over the previous year to $3.86 million. With these numbers expected to rise in the coming years, organizations around the world cannot afford to ignore a robust IT security system amidst rising cyber attacks and tight regulatory requirements.

Today, there are merely two types of businesses left – the ones who have experienced cyber attacks or security breach and others who are highly likely to experience it in the near future.

It is really not a question of if, but only a matter of when!

Therefore, having a robust digital solution has become an imperative that just cannot wait.

In the next article, we will talk about the security guidelines that enterprises will need to consider before implementing a digital enterprise solution. Stay tuned.

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Mobile Technologies Opinion

Besides Blockchain, Technologies That Are Still Reshaping the Banking Industry

Over the years, financial institutions have evolved with and as a result of the current economic, political, and social forces at play. Legal and regulatory reforms matured, and the technology behind the banking world became more sophisticated. According to a recent study by Ernst & Young – “while the recent financial crisis and resulting regulatory reforms continue to play an important role in reshaping the structure and operating models of banks and markets more broadly, technology-driven innovation will lead to much broader, deeper and more rapid transformations in future years.”

Further a Fujitsu survey entitled “Transforming Britain Report” highlighted sentiments from over 2,000 individuals (including roughly 650 business leaders from various industries) that roughly 50% of finance industry leaders are convinced banks won’t be recognizable from their current format in 10 years.

As in most industries in 2018, digital transformation is forever altering the landscape of banking. While blockchain is certainly the most talked-about technology that experts have predicted will reshape this industry, other technologies such as wearables, machine learning and AI, and robo-advisors are creating a new age of digital banking for banks and clients alike.

As of July 2018, 3.2 billion people globally have access to the internet. Researchers estimate that over 50 billion devices will be connected to the internet by 2020.

Disruption is occurring at every level in the banking industry, from faster, more transparent customer service to back-end operations and inventory management. From new technology to new competition to heightened customer expectations, incumbent banks have become increasingly vulnerable to outside pressures. Prudent banks are spearheading digital ecosystems for more nuanced customer engagement and forward-looking technology in order to maintain strong client relationships and retain their competitive advantage.

Overview

Below, we explore how innovative technologies (apart from blockchain) are leading to digital transformation in the banking industry, with customer-centric solutions front and centre.

  • Artificial Intelligence & Machine Learning
  • Chatbots, Robo-advisors, & Voice Assistants
  • Big Data & Analytics
  • Internet of Things & Wearables

While these technologies are in different stages of development and adoption, they have varying and increasing degrees of potential to drastically transform how clients bank in the next decade. And with nearly 75% of consumers banking digitally, banks and financial institutions that haven’t adopted future-proofing technology strategies will find themselves obsolete.

Artificial Intelligence & Machine Learning

Artificial Intelligence (AI) is defined as technology that learns as it researches and analyzes good data. It’s currently being used in the financial and banking industries in areas such as risk and compliance management to better predict and make decisions “beyond human scale”.

Machine Learning (ML) “automates analytical model building, enabling computers to learn without explicit programming when exposed to new data.” ML technology can occur both supervised (using historical data) and unsupervised (finding patterns) to predict future events and to detect fraud, respectively.

Several notable financial institutions have implemented AI and ML technology to ensure they can streamline menial tasks and allow more time to help clients with a more bespoke approach to their finances.

For example, the AI assistant from RBC, NOMI (“know-me”), has over 3.6 million customers and facilitated a two-thirds increase in mobile app usage and a 20% increase in new savings accounts being opened in only eight months after launch. Discount Bank’s DiDi (“Discount Digital”) offers personalized advice and financial management services, along with suggestions to automate transfers of funds to maximize savings goals and to reduce costly transactions in the future (ie: unnecessary banking fees).

Artificial Intelligence

FINRA is testing new ML software to detect typical patterns and use a wide net to catch situations that merit a flag for suspicious activity before humans do, by learning which repeated scenarios have raised flags in the past due to legal action.

While many large banks recognize that banking is not a one-size-fits-all approach, using AI to automate tasks and ML to provide more accurate, up-to-date information about clients helps bank staff create a more nuanced approach to their clients’ financial questions and issues.

Robo-advisors, Chatbots & Voice Assistants

Nearly 4 billion people use at least one messaging app, such as Facebook Messenger or Whatsapp to communicate with their peers and businesses around the world. Banks can reach clients with chatbots or robo-advisors to engage clients ranging from Millennials to Boomers through platforms “like Facebook Messenger and Whatsapp without extending business logic.

Chatbots & Voice Assistants

With technology in voice assistance and natural language processing (NLP) advancing at a rapid pace, banks can harness chatbots in messaging apps to deliver advice, assessments, and customer support in an environment rich with a user base that is already familiar with the technology.

Today’s technology can analyze and determine the nuances of our voices to grant us access to our bank accounts, and several large financial institutions have deployed speech analytics software to enhance sales personalizations, customer service processes, and regulatory compliance requirements.

Credit Suisse has offered individual clients and legal entities a completely digital onboarding experience since 2017, providing a convenient method to attain new clients. Since the launch of this Online Relationship Onboarding program (or ORO, for short), Credit Suisse has seen a 65% reduction in the number of data entry errors that typically plague bank employees during a conventional onboarding process.

Erica, the chatbot behind the Bank of America, helps customers through a variety of tasks, from showing the progress for financial milestones to helping track unnecessary payments and fees that could reduce the drain of their resources. The typical use case shared by Bank of America shows Erica sending a predictive text that outlines how a client might reduce their annual fees while also reducing their credit card balance: “Based on your typical monthly spending, you have an additional $150 you can be putting towards your cash rewards Visa. This can save you up to $300 per year,” she writes.

Chatbots in messaging apps

Image source

Technology like Erica offers clients much greater control over their finances and the sense of security knowing their bank is working diligently to anticipate and meet their needs.

While banking can be frustrating for many people, if technology is used intuitively, banks can leverage chatbots and robo-advisors to reduce errors and simplify signups and transactions for clients, freeing up valuable time and solidifying client relationships.

Big Data & Analytics

Big data enables “the sourcing, aggregation and analysis of large amounts of data,” while analytics is “the discovery, interpretation and communication of meaningful patterns within data,” giving banks the power to predict future trends and evolving client needs, and subsequently offer actionable items for areas such as risk management and personal goal tracking.

Based on research from IDC, over $20 billion was invested into Big Data in banking in 2016 alone; the amount of data created each second is predicted to increase 700% by 2020, with banking and financial data dominating that increase.

Big Data & Analytics

Today’s advanced data analytics tools harness valuable data related to customer spending habits, personal goals, and general financial activity. Digital strategies should not be focused on new UI, but rather on transforming how quickly and efficiently customers can be reached. Advanced Big Data and Analytics tools offer banks access to new customers and greater visibility into their behavior, to be able to predict future financial patterns and to suggest suitable products for their customers.

Programs such as GDPR (General Data Protection Regulation) are at present viewed rather negatively by Tier One and Tier Two banks because they are seen as restrictive and a barrier to be overcome in order to do business effectively. However, banks can and should see these regulations as a way to become a leader in the governance of their clients’ data and privacy.

GDPR compliance offers banks an opportunity to reform their data collection and storage systems, not only giving their teams a better understanding of the flow of data throughout the organization, but also instilling confidence in clients that their data is secure. Build your bank’s ecosystem and infrastructure around the needs of your clients, using what data they share with you to create a nuanced, tailored solution to their needs.

Internet of Things & Wearables

The Internet of Things (IoT) is a network of physical devices connected to one another through the Internet in order to collect, send, and share data across the web with people and other devices. IoT offers greater connectivity to the existing data being shared by clients and other industries, and creates more opportunities to use that information to improve and enhance their internal processes and external exchanges with clients and third-party vendors.

Also referred to as the Internet of Everything, IoT is the intersection of the physical and virtual worlds to allow people and technology work more seamlessly. While IoT is still in its infancy within banking, early adopters will focus on applying it to digital product enhancements and harnessing its capabilities for financial services to other industries (such as mobile payments).

Internet of Things & Wearables

Much like IoT, wearables have become commonplace in daily activities, supporting users as they search, process, and utilize data when and where they need it. The best example of wearable technology is smartwatches that connect to a user’s mobile phone, transmitting data in an easy-to-digest format. Through banking apps, clients can access their account data using a series of voice commands or simple clicks.

Australian bank Consumer Bank launched its own version of wearable tech PayWear through the Westpac Group in 2017, allowing users to arrange payments, alerts, and other account options hands-free and on the go. PayWear was developed after Apple banned a keyboard function which would have allowed users to pay through Facebook Messenger or Whatsapp. bPay in the UK allows users to pay for anything under 30£ using something as simple as a fob or a sticker at select retailers.

Summary

Banking leaders that prioritize a digital-first strategy to carry them into the next decade with a clear path to customer-centric solutions understand that embracing technology won’t make banks redundant. Implementing the right technology offers security, more personal interactions with clients, and more intelligence for issues that arise. With financial markets in turmoil as we near the end of 2018 and consumers losing confidence in large financial institutions, banks need to prioritize client relations now more than ever…and technology can help tremendously.

“The whole notion of customer experience for banks is so, so critical right now,” said Daniel Latimore, Senior Vice President of Celent. “They have challenges like security and being bulletproof — but consumers don’t care about all the constraints. They just know they can get great experiences elsewhere and they want it from their bank too.”

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Mobile Technologies Opinion

Design Thinking to Fintech: 5 blog posts of 2018 worth another read

Each passing year
How technology deconstructs
Teaches to start afresh

As we come to the end of 2018, this Haiku seems to be a fitting goodbye to the year. Endings are always about looking back appreciating what went well, gathering the learnings and moving ahead.

All year long, we have tried to do good work with our partners, explore and learn newer technologies and also sharing our experiences through our blog posts, e-books and case studies. So, as we arrive at the end of the year, we are taking a look at all that we learnt and shared through our blog, in 2018.

In this article, we have picked the 5 of the best reads for you. We hope you enjoy reading all of them…once again!

Read on.

Mobile Fintech vs Traditional Banking products: 15 awesome things winners do well

Ease of use of a digital product is paramount to client satisfaction and both FinTech companies and traditional banks realize this. And, as we all know – client satisfaction is the key to overall customer engagement, sales, long-term banking-client relationships and growth.

But do banking executives understand just how important exceptional user experience is for consumers? According to a recent survey, banks are misinterpreting and miscalculating the role user experience plays in the overall satisfaction customers have with a banking product. Something which FinTech enterprises and some prudent banks have gotten right. However, most banking executives are completely missing the mark at correctly understanding the rise in popularity for fintech products.

In this article, we will show a series of 15 different user experience features which have reached mass adoption among consumers. In doing so, we want to help banking executives visualize the difference between what their digital experiences offer and what consumers expect. And, hopefully, help them bridge the gap.

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The road towards a cashless world – digital payments and the future

According to a recent study by U.S. Bank, 46 percent of people say that they do cash transactions less than eight days a month and 5 percent say they never use cash. Even if they do cash transactions, the amount spent is on the lower side. Most people keep less than $50 cash in their wallet. While for smaller transaction values cash remains the predominant mode of payment, spending through digital payment modes are on the rise.

It is predicted that by 2025, the overall spending through digital wallets will have increased by ten folds!

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In this ebook, we outline how digital payments have evolved over the years, the current state of the industry and what lies in the future.

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How Design Thinking can accelerate Digital Transformation

Digital Transformation is imperative for all businesses. However, Digital Transformation will look different for different companies. At Robosoft we understand both the necessities as well as the risks surrounding Digital Transformation. That’s why when we work with our clients to implement Digital Transformation in their organizations, we do it based on the principles of a holistic problem-solving framework: Design Thinking – a practical and creative method for problem-solving that has evolved from fields as varied as engineering, architecture and business.

In this article, we outline what is design thinking, the key principles around it and how it can accelerate an organization’s digital transformation journey.

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Voice assistants in retail – what consumers want

Voice searches and voice assistants have piqued users’ interest over the years. According to Gartner, about 30% of all searches will be done without a screen by 2020 and as per Comscore, 50% of all searches will be voice searches. Voice assistants have changed customers’ relationship with smartphones from being a communication device to being enablers of simplifying some of our daily tasks.

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In this article, we outline how today’s consumers are using voice assistant and how the retail industry can use voice assistants to engage with consumers and offer a delightful user experience for them.

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Changing Perceptions — creating a unified healthcare system

Health and technology are coming together like never before. From self-prognosis to smart diagnosis, from wearables for technophobes to object sensors for elderly care, from real-time health monitoring to remote patient management, from smart pharmacies to timely medicine dispensers, and from biostamps to injectables — processes, services and devices in the health spectrum are being vehemently explored. Today, we are witnessing varied types of innovations being explored in order to achieve a democratic approach towards healthcare. However, these healthcare interactions are happening in isolation. They are solving one problem at a time across the journey, waiting for the rest to be solved by another. So, there is a gap that the industry still needs to fill – integrating all the pieces on technologies together to create a connected ecosystem.

In this article, we outline, how process innovations, technology innovations and business innovations are changing the healthcare landscape and the need for a unified healthcare ecosystem and various possibilities towards achieving that.

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And a bonus read…

5 must-read books on business thinking for CXOs

As we begin our preparations to welcome 2019, a lot of us will be keeping our reading lists for the coming year ready to grow in our professional and personal lives. As our CEO, Ravi Teja Bommireddipalli, puts it across –

‘’Aside from hands-on experience, I realized that the holistic thinking outlined in several books helped me immensely to grasp the problems at hand and offer solutions.’’

Among many such books, here are Ravi’s top five picks, which would help CXOs and budding CXO’s take a 360-degree approach in solving business problems.

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We hope you enjoyed reading all these articles we are looking forward to learning more and sharing more in the coming year.

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Mobile Technologies Opinion

How eCommerce Platforms Can Offer Seamless User Experiences This Holiday Season

With the hustle and bustle of shopping bags, the excitement of the Holiday season hangs in the air. While customers may find themselves excited to hit stores to find that perfect gift for their special someones, e-commerce platforms must focus on giving those customers an unforgettable, seamless, enjoyable holiday shopping experience.

Online retailers get swamped with surges of traffic hitting their platforms during this season. In 2017 alone, companies such as Macy’s, Square, Walmart, and Amazon all saw web outages that likely cost them millions of dollars. These issues can lead to frustrated customers and sales losses this year and for years to come if online retailers cannot adequately mitigate these disasters before they occur.

In this article, we outline eight tips e-commerce platforms can follow to prepare for the holiday season to ensure a seamless experience for their customers.

Optimized for Mobile

“Mobile is undoubtedly the most disruptive force in retail since the onset of e-commerce,” says Salesforce Head of Consumer Insights Rick Kenney.

Your customers shouldn’t be restricted to your desktop site to find a seamless shopping experience when searching for those perfect holiday gifts. Based on a recent report from Salesforce, almost 70% of ecommerce visits and almost 50% of online orders were done using a mobile device.

Even while in-store shopping, 83% of customers between 18-44 years old are on their devices interacting with those retailers in real time. If you don’t prioritize the medium where they spend most of their time, you’ve missed the mark.

Even simple UX features can make a great impact when it comes to offering delightful experience on an e-commerce platform. For instance, online footwear retailer JustFab does an excellent job of simplifying their checkout page by allowing users to log in with their Facebook account to save time and effort filling in form fields.

Ensure Your Website Is Prepared

You can prevent your site from crashing during peak periods and sustained, heavy website traffic by preparing with a few of the following considerations far in advance of the season:

  • Confirm (and update) your bandwidth and capacity for spikes
  • Install new hardware and software
  • Review performance expectations and SLAs
  • Monitor SSL certificates for validity and expiration
  • Host stress tests

Ensuring your company has made these preparations and advancements to your site will significantly reduce errors and blackouts, enhance your UX/UI design, and increase consumer confidence during an otherwise stressful season. Optimizing your site is one of the most critical things you can do to help increase e-commerce sales.

Add a Progress Bar to Your Checkout

Showing customers where they are in the online buying process gives them time to prepare the information they’ll need to have ready next to complete their purchase. Research shows that the greatest drop-off point is at the checkout stage. This simple design feature gives customers a sense of organization and control over their purchasing power, which instills a sense of trust and, subsequently, creates a loyal customer base.

Nixon has only 3 tabs on its progress bar, enhancing the simplicity of the checkout process for customers while also offering other features on the related pages, such as guest or member sign-in and various payment options, as customers work their way from “Add” to “Purchase.”

Nixon

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Save Their Spot

Customers appreciate small but significant features such as saving their spot from when they last visited your site, should they need to leave suddenly or want to return to shopping when they have more time and focus. Saving their spot gives customers the impression you have been patiently and eagerly waiting for them to return, at their leisure. Use local storage features to track and store unique customer data to ensure a smooth transition back to your site.

Walmart allows shoppers to select their items and return later to schedule a time for delivery or pickup, depending on the items and time frame they’ve selected.

Proper Labelling and Layout

Don’t leave your customers guessing what info you need from them to make a purchase. Make it clear and eliminate any unnecessary information, graphics, and words. Customers read in an F-shaped pattern, so consider what information is important and place it near the top left corner of your site or in bold headlines.

Stats show that “the average e-commerce site can gain a 35.26% increase in conversion rate” by designing a better checkout process, even for large retailers such as Walmart, Wayfair, and ASOS. This increase in conversion rates, through better page layout and design, means big dollars…of the roughly $740 billion USD e-commerce market in the US and EU, this could mean an additional $260 billion in sales.

Keep the Questions to a Minimum

Ensure your purchase process is simple from adding items to their cart to entering payment details. According to the Baymard Institute 2017 survey, “28% of US online shoppers have abandoned an order in the past quarter solely due to a too long/too complicated checkout process.”

For those questions that must be asked during the checkout process, ensure that you let your customers know why you are asking, so they can see the value to them if they answer.

Ensure Products Shown Are Available

As a rule, don’t show items that you can’t offer your customers.

If someone uses filters to narrow down exactly the right gift for their friend or relative, only to find out that it is out of stock, they’ll likely be frustrated and leave without purchasing anything…even if they had items in their cart when they left.

Live Chat Feature

H&M is an excellent example of a retailer using chatbots effectively, providing fashion advice based on consumers’ preferences and offering to help if customers find themselves stuck on a decision about a product.

Chatbots and live chat features can offer customers an infinite amount of accurate product details.

HM

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Summary

Retailers should remember that their potential customers begin preparing and planning well before the holiday season starts. A November 2018 report from the National Retail Federation reported that, of the 164 million customers that will shop through the Thanksgiving long weekend, almost 25% said that’s when they start their holiday shopping.

Many sites have compiled a handy checklist of UX basics retailers should consider when implementing UX strategies, especially when typical website traffic is expected to increase. Don’t be caught in a tidal wave of traffic that debilitates your customers’ experiences with your company.

As a famous, anonymous individual once said, “There’s only one shopping day left until tomorrow.”

With the growth of eCommerce market, retailers across the globe are working towards creating delightful digital experiences for their consumers. UX/UI design plays a critical role in creating such experiences.

Over the years, we at Robosoft have created such experiences for global retail brands and its an honor to be recognized for our work. We are thrilled to be named as one of the Top eCommerce web design agencies by Design Rush a leading listing platform for full-service agencies, web design companies, digital marketing firms & top technology companies.

You can see more of our work here.

 

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Mobile Technologies Opinion

Enterprise Mobile Applications – the Gateway to a More Productive Future

We live and work in the information economy. Information is sacrosanct. Most struggling organizations I have seen, struggle because either vital information fell between the cracks in the communication chain, or good quality information was never channelled through to the right people in time.

This happens all the time in sales leads, CRM operations, customer discovery, inventory management, and the list goes on. This is why we have processes because we want to ensure that information is passed around as easily and as efficiently as possible. These processes work like a charm in smaller organizations. Information flows around quite fluidly. But as the organization keeps getting bigger, these processes start becoming a big overhead. A lot of times, they act as a crutch rather than an enabler. Communication becomes difficult, and often information is restricted to functional silos as opposed to being spread around the entire enterprise.

Consider a large digital services company. When the on-ground sales representative identifies a potential lead or untapped segment, he emails his boss about it. This, in turn, is relayed to his boss, and then to his boss and so on. However, the higher up the information passes, lower the weightage is attached to it. The next salesperson having a similar idea will face a similar outcome. Thus, the obvious pattern was missed, and the opportunity lost. This affects not only company revenue but also employee morale.

This kind of information asymmetry actually gets more acute in the presence of poorly designed and deployed enterprise solutions. The need of the hour is an easy-to-manage, easy-to-access, centralized application that takes care of all your communication and process needs.

We are talking about Enterprise Mobility Applications (EMA). Let’s take a minute to understand these terms.

Traditional enterprise solutions can be defined as a suite of applications that perform certain functions like CRM, ERP, ticketing platform, internal communications and more. These disparate set of applications serve their own individual purposes. However, as more and more organizations feel the need to start communicating faster and passing information quicker, the suite of enterprise solutions stop becoming the conduit and start becoming the bottleneck. Enter Enterprise Mobility Applications (EMA). EMAs are nothing but enterprise utility applications on mobile phones. These applications are so ubiquitous that they can be installed and run on employee mobile phones also. These mobility solutions can provide employees with the ability to enter and read vital pieces of information without having to wait to get to a computer, or without the fear of it getting dropped off somewhere in the chain. This will definitely help boost business productivity. I am not alone in my thought. In a recent survey by Apperian, 43% of respondents stated that the primary goal of their enterprise mobility applications was improved productivity.

Why Do You Need a Change?

Before we deep dive into the world of EMAs, let’s take a step back and understand why a solution is even required in the first place:

  1. To improve employee productivity that is hampered today by either communication gaps or information asymmetry
  2. To quickly identify new revenue channels or predict the latest trends in the market
  3. To increase your bottom line by eliminating the unnecessary costs of travel and time delays in decision making
  4. To expedite processes that employees find unnecessary but management needs for better control and security
  5. To ensure higher productivity, transparency and thus higher levels of satisfaction of employees

How Employee-Facing Business Processes Are Changing with Digitization and EMAs

Let’s try to understand some specific ways in which enterprise mobility applications are effecting a paradigm shift in the landscape of processes in organizations:

An Instant Communications Platform

Any organization, big or small, realizes the importance of instant communications. But only a large enterprise can appreciate the need for an exclusive deployment of a communications platform for the company. This kind of platform can not only enable the linear model of communication but also transactional and interactional models of communication, and is a huge improvement over emails and personal/verbal notes.

A good example of how a large enterprise has adopted a communications platform for its employees is the Ozone communications platform used by ICICI Lombard. ICICI Lombard wanted to develop an end-to-end solution to serve food using cashless mechanisms in their office premises, provide Bus shuttle booking, Visitor management, Cab and travel bookings etc. As a solution, we built Ozone app to host exclusive services so that employees can get everything need at the click of a button.

ICICI Lombard Ozone

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This app has helped employees not only communicate amongst themselves better but also better manage their meetings and logistics.

Another real-world example of this is NewsCorp, which has managed to establish strong lines of communication between their 25000 employees using EMAs.

Sales Leads and CRM

Every sales organization understands how critical it is to make timely follow-ups on leads and act on information specific to that customer. No more written notes and disorganized emails. This will help ensure greater horizontal and inter-functional collaboration within the company. A robust and ubiquitous CRM solution helps the entire sales team to rally around information on customers and helps them close out deals faster and more efficiently. A cloud-based CRM solution is any day of greater use and significance than one maintained on desktop applications like excel.

Salesforce is one of the leading CRM solutions in the world. Urban Ladder has greatly improved its abilities to follow up on its customer leads, track SLAs and mine better consumer insights with the implementation.

Supply Chain Management and Inventory Management

No one cares about the timely delivery of services and goods more than the customer. If you delivered on time, you merely lived up to the customer’s expectation. However, if you delay your shipment, you will be branded as inefficient. Having access to real-time updates on the exact location of your inventory (for hard goods) or progress on your project (for soft goods) puts your front-line employees in a good position where they can make educated decisions for their customers. Just in Time delivery models and agile supply chains thrive on the timely availability of critical information.

An extension of mobility applications is technology in wearables. DHL has successfully implemented a pilot program using Augmented Reality in their wearables to improve their warehouse operations by 25 per cent.

Another good example is that of Flex, the electronics manufacturer. Using a combination of IoT and cloud computing, Flex has increased connectivity between all stakeholders and consequently, productivity.

Workflows and Approvals

How many times have you had to stall some critical work because you didn’t receive approvals in time?

The prevalence of mobility solutions will ensure that all your approvers will get notified every time they have to approve some workflow, and give them the ability to do so from their mobile phones itself. Prevalence of cloud-based workflow models have fostered faster turnaround times.

A prime example of a solution that helps track workflows and maintain high standards is the BSI Entropy tool. Some of its biggest customers are GlaxoSmithKline and Vodafone, who have managed compliance and their customers better.

Onboarding and Training

If you run a sales organization, and you have new batches of people joining every month, you don’t want to be stuck conducting training throughout the year. A simple application that stores extensive training material on the cloud is the perfect solution to keep your organization agile. Another use case is to keep your executives and top leadership up to date with the latest happenings in the industry and thought leadership articles.

We have worked with the client to create a solution similar to this for Fortinet called the CISO Collective. This application has helped Fortinet executives and CIOs across the globe be on the top of their industry updates and consequently make better decisions.

The CISO Collective

CVS Health Corporation, the retail pharmacy chain has also ensured higher levels of collaboration between its executives using EMAs.

How to Select Applications That Work for You?

Whether you wish to develop your applications in-house or license them from a third party provider, enterprise app development requires you to follow some simple guidelines before making a decision.

Identify the Gap in Your Current Process

The first step in implementing a technology solution is to always identify the gaps that you want the technology to fill. Often times, companies fall prey to buzzwords in the industry without analyzing the need correctly, which results in a massive failure of the technology and a dip in employee confidence. Multiple ERP system implementations come to mind as examples. If your company can truly benefit from an enterprise mobility solution, you will know it from the information dissemination flows within your units. It is also possible that for various reasons unrelated to the technology, you are better off without the enterprise platform. This first step, though seemingly simple, is the most overlooked step of them all.

Work with the Functions Who Need It the Most

You can’t solve something unless you know what you’re solving for. Instead of imposing solutions on your frontline staff, it is always prudent to spend some time understanding the use cases of the business unit. A deep understanding of the daily operational activities and how these applications will augment the tasks is crucial in choosing the solution. This will give you a good idea of which features are the most important and which need to be shelved for the time being.

Evangelize the Product

A huge roadblock when it comes to adoption of new technology products is the adoption itself. Most teams get set in their ways of operations are often unwilling to move to a new style of working. The key is to target only a small subset of your workforce and test out the product with them. Work closely with the team to see how the product can be tweaked to suit them better. Once you gain the trust and confidence of this team, they become naturally influencers for the product across the company. Going big-bang with any new change is never a good idea. Working with teams while slowly building up confidence is the best and most effective approach.

Incorporate Feedback Regularly

No technology product can cater to 100 per cent requirement of everyone. Certain trade-offs are always required. However, never shy away from incorporating feedback from your teams. They are the ones who use the product daily, and consequently, they are the ones who will have a more informed opinion of it. Apart from making the operations smoother, you are also ensuring that your employees feel heard and appreciated.

Ensure Quick Technical Support

Though adoption is a slow process, rejection of a new solution can be brutally quick. To ensure that employees do not face technical difficulties in working with the product, ensure that they can readily access a technical support team to guide them through their roadblocks and hurdles.

Know the Pain Points Beforehand

In our collective experience of working in the enterprise, we know a few big reasons why such projects never see the light of day. It is in your best interest to know of them before you start the project so that you may be well prepared to circumvent any hurdles. Some reasons cited by other organizations are – the disparity in platform types and OS types; management of BYOD devices for contract employees; no budget from the higher management; prioritization of less important enterprise app features, thus not adding value to the chain. Prior knowledge of such impediments goes a long way in preparing the organization for rough waters.

The Ball Is Now in Your Court

Every organization might not benefit from employing an enterprise mobility solution. But the ones that might, seldom do it the right way. The advantages are evident; the process, not so much. A sensible decision-making body with common sense and an inclination for collaboration is all that is required to ensure that enterprise apps boost employee productivity in your organization.

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Mobile Technologies Opinion

How mobile apps are bringing a new era of employee engagement

In the 1970s when Dave joined his first company, he was excited about the health benefits, insurance and other monetary benefits that his company was offering him. He stayed with this organization for over 30 years before retiring for a peaceful life.

Today, Dave’s son Rob has shifted 3 jobs in a matter of 7 years of his experience. While he does look forward to the monetary benefits offered by the enterprises he joins, his criteria for choosing or staying in a job are poles apart from his father. For Rob, the critical aspects of a workplace are – flexibility of working from anywhere, interesting work opportunity and the overall workplace environment.

This scenario and Rob’s expectations from his workplace speak for the most of millennial generation today. Millennials will make up the largest age-group of the global workforce and most millennials expect their organisations to provide means of employee engagement.

Employee engagement social business digital mobile

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However, what exactly is employee engagement? While it might seem that keeping employees happy and giving them benefits like – game rooms, Friday nights, bean bags, etc. is enough, employee engagement is much more than that.

According to Forbes –

‘’Employee engagement is the emotional commitment the employee has to the organization and its goals. This emotional commitment means engaged employees actually care about their work and their company. They don’t work just for a paycheck, or just for the next promotion, but work on behalf of the organization’s goals.’’

Employee engagement isn’t just about keeping employees happy or satisfied, it is about making sure they are giving their best to the organization in terms of productivity.

However, this is something that hasn’t been addressed by most organisations. According to a research, only 13% of employees working for an organization are engaged. For almost 42% of organizations, their top performers are not engaged with the workforce.

Now give this a thought; the top line of the enterprises, who are driving the maximum productivity for the company aren’t even engaged with the company, which in turn is affecting their productivity and finally company’s ROI. No wonder, this low rate of employee engagement costs US economy more than $500 billion per year.

It is clear that low employee engagement not just creates a negative work environment it is also affecting enterprises’ balance sheets. However, prudent organisations have started taking employee engagement seriously.

Over $720 million per year is spent on employee engagement in the US. After talent recruitment with right skills, companies see employee engagement as one of the critical challenges that they face.

Understandably so, because organizations with engaged employees outperform those with low employee engagement by a whopping 202%.

Hence, it is clear for enterprises that employee engagement isn’t a boat that should be missed.

As mentioned earlier, millennials and Gen Z are set to form the largest population of the workforce and their love for smartphones isn’t a hidden fact. Almost 70 percent of employees keep their phones “within eye contact” at work.

Today’s digital natives are constantly on their phones. When it comes to the workplace, they expect their enterprises to provide them with technology to engage them and make their lives easier, they want communication to be simplified and information to be immediate, interactive, and accessible everywhere.

According to Forbes, employee engagement is-

“the emotional commitment the employee has to the organization and its goals. What we have to realize is that an engaged employee is not just bothered about a huge salary and swanky benefits.”

To meet the needs of the new-age employees, organisations are deploying various technologies to boost employee engagement and mobile apps top that list

Employee engagement

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Here are some areas where mobile apps can be beneficial in boosting employee engagement.

Peer to peer communication

Millennials expect their workforce to be friendly, where communicating with colleagues is easy and informal. Today’s employees have smartphones with them all the time. Further, according to an Adobe research, almost 81 percent, say technology that helps them connect to colleagues more efficiently is important to their ideal workspace.

Having an app to make communication amongst employees will make their work easier and also help them respond at the earliest.

Payroll

Mobile access lets employees view payroll on their own time. Access payslips. Raise concerns/queries etc. It makes their lives easier because running to the finance department every time they need access to their play slips or need any clarifications on salary can be frustrating and time-consuming.

HR operations

While most enterprises use various SaaS solutions or their own microsites for managing things like filling timesheets, raising requests, apply leaves etc. most of these solutions can be only accessed on their PCs or desktops. These processes if available on a Mobile app, can make employees’ lives easier by giving them the flexibility to fill in timesheets or apply leaves at their convenience. These critical HR processes are typically housed in disparate systems across the organization.

By simplifying these processes, HR leaders can significantly reduce friction in their workers’ lives.

Internal communications

Millennials not just want to have a job, they want to feel valued and connected with their workplace. According to a survey by HBR, millennials rate ‘being valued’ as one of the critical aspects of being with an organisation.

As per Forbes

‘’An engaged employee wants to have a say in the business, they need to feel like they’re part of a team that’s working towards a common goal, and crucially, they need to feel that they are a valued member of the company – not just a tool for generating profit.’’

Keeping employees updated with the larger decisions of the organization and constantly communicating with them can help to keep the workforce engaged. More often than not, this critical aspect has been left to monthly newsletters and mass emails sent to employees, with no personal touch. No wonder most internal email newsletters have an abysmally lower rate of engagement. Despite this, most internal communication emails happen on desktops or PCs through official emails.

A mobile app can give a boost to the internal communication efforts of an organization. Using push notifications for alerting employees of news and events, can ensure higher engagement vs the ones received by employees on the company intranet from their office desktop/laptop. Also, by delivering time-sensitive materials, employees can quickly digitally sign and acknowledge receipt of policies in support of corporate governance and compliance. And because a mobile device is more personal than a desktop, HR can actually leverage mobility to get live employee input.

Interactive learning modules

According to a research by Deloitte – employees under the age of 25, rate professional development as their number one driver of engagement, and this is the number two priority for workers up to the age of 35. Providing interactive learning modules and solutions can help organizations fulfil this need.

Having a mobile app which facilitates learning can help employees grow and learn at their own convenience. Further, an app can help in providing an interactive learning platform for employees and studies show that interactive learning is much more effective than static learning. In other words, employees will absorb and retain more information through interactive modules than they would if you simply assigned them a book or an article to read.

Here are some mobile apps that are changing the game of employee engagement.

Microsoft Lync

Microsoft Lync provides a unified communications platform, blending video, phone, instant messaging and collaborative work environments into one space. The app helps in-

  • viewing colleagues’ availability in real time and select the best way to communicate – initiating an instant message (IM), email, or a phone call.
  • connecting to conference calls with a single touch, without requiring long numeric passcodes or conference numbers.
  • forwarding or simultaneously ringing calls to Enterprise Voice (Lync ID) number so users never miss a call.

Microsoft lync Updated

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Slack app

Slack app is like Facebook for the workplace. The Cloud platform is both a desktop and mobile internal team communication and engagement tool. The idea is to help teams consolidate their communications to one platform. Employees are part of “channels” which can be open or private. They can tag people, private message them and attach files. They can also search the whole archive on Slack to see what messages were sent.

Slack app

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Engagedly

This is an employee engagement platform with built-in gamification for employee social collaboration, pulse survey tool, idea generation, and employee rewards. The app also allows for a 360-degree feedback, performance management, goal setting and eLearning. Engagedly takes a comprehensive and employee-driven approach to talent management.

Engagedly

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Developing a roadmap

Every organisation has its own structure and work culture. Depending on their needs, while for some organizations the ready-to-use software and apps suffice, others with disparate needs and innumerable departments and locations etc. might require a custom software or app for employee engagement needs.

Here’s is how enterprises can start their mobile app journey for employee engagement

Decide whether to have a custom app or an available suite of software

More often than not organizations tend to skew towards readily available SaaS tools in the market. However, it is essential to chart out one’s organization’s requirement thoroughly and then make a decision whether a custom solution or an already available product in the market will be best suited for your enterprise.

Voluntary vs. Mandatory

‘Engagement’ of any kind if forced isn’t engagement anymore. However, depending on which kind of tool the enterprise is deploying, it can be made voluntary or optional. For instance, while an app for internal communications or learning modules can be made optional. The one for team interaction can be made mandatory.

Choosing between a Native vs. Web App

While Native apps are a better employee engagement solution for various reasons, like their App Store deployability, user experience, and their ability to facilitate push notifications.

Web app is basically a website accessed through a mobile browser on a smartphone. Enterprises will have to carefully choose between the two, depending upon their budgets and requirements.

Deciding on the first Use Cases

Engagement apps in any organisations are deployed from the objective to create additional value for employees. Hence, the first use cases you roll out are so important. In order to ensure high onboarding numbers, it is important to launch the app with the right use-cases.

Deciding on the Content

While on a company intranet or microsite a lot of information can be shared. On a mobile app, it is important to keep the information to what is relevant. The storage space and user experience are critical reasons to carefully choose the content that should go on the app.

Modern intranets have come up with a growing number of new features and supported use cases. Mobile requires a new approach to content and functionality. When thinking about your app content, remember that it shouldn’t be a dumping ground for old intranet or newsletter content.

Ensure robust security measures

While a mobile app will give the flexibility and convenience to employees to access company information anywhere. It is critical to ensure security guidelines, to ensure that sensitive enterprise information isn’t leaked outside. Hence enterprises will have to think about app security inside the app as well as outside. For that first limit the information you put online. Every piece of content created for the enterprise’s internal website doesn’t need to be part of the app.

Align with the intranet roadmap

An employee app can be viewed as a channel displaying the intranet or as an addition to the intranet. What you need to decide is how content will be shared or not shared between the two platforms. Having a CMS solution might be an ideal situation in such cases. CMS system can help in customising and distributing information that isn’t highly confidential and is highly relevant to your employees. This way, content can be pushed to both the intranet and the app, while remaining safe.

Devise a rollout Strategy

When it comes to your launch, the question is whether to roll things out with a bang or to start with a soft launch. Experience has shown that a soft launch is more advisable.

A soft launch enables you to build your app from the ground up with the input of your employees and avoid the danger of launching a much-anticipated project that they don’t like and instead include them in the process.

In conclusion

In today’s digital world, an enterprise’s success depends on foresightedness, innovation and technology. However, using these three pillars are critical not just to connect with the consumers and the market outside, but also with the employees. To do so, companies will have to go outside their corporate comfort zone to design roles for a purpose-driven millennial workforce.

Mobile internal communication is the future of workplace communication, and mobile apps are enabling this change and paving the way for a more exciting and engaging work environment for the next-gen of employees.

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Mobile Technologies Opinion

Consumer convenience in food delivery – how technology plays an important role

Over half of the world’s population has access to the internet today. This number will reach 76% by 2030, in which the percentage of people with mobile internet is forecasted to go from 42.4% (2017) to 99.5% by 2030 (a 6.8% CAGR).

Easy access to the internet and higher bandwidths have impacted a lot of facets of our lives. From renting a cab for daily commute to consuming entertainment content to ordering groceries and so on… we get most of these things done online. Food ordering is one such activity which has changed dramatically over the last few years thanks to technology.

According to a Business Insider Intelligence study:

“Orders placed via smartphone are expected to account for more than 10% of all quick-service restaurant sales by 2020, at which point mobile ordering is expected to be a $38 billion industry’’

It is expected that 1.8b new consumers will be added to the world economy by 2025, close to a 25% increase from 2017. Which can result in the addition of another $500b for global restaurants to share, emerging economies will be a major contributor to this growth. In markets like India, food-aggregator apps are even transforming restaurant chains’ view of their own businesses, aside from urban dining habits. A tea retailer in India, Chai Point launched a cafe in Bengaluru with an area demarcated for food-delivery apps’ personnel.

A typical day in a consumer’s life maybe be filled with some or all of these moments, where digital plays a role:

On-the-go food ordering, offers based on past purchases, incentives to increase the order size, cutting down on waiting time at a brick & mortar restaurant, discovering new restaurants, providing feedback on food & service quality, convenience of a appointed-time delivery, notifications to stock up for a big game on TV, ease of ordering through voice-enabled technology and more.

How digitization has changes consumer's relationship with restaurants

Food aggregator apps like UberEats, GrubHub, Swiggy & Zomato are tapping into the inherent needs of today’s consumers. Convenience, anytime-anywhere delivery, choice and easy payment options are some of the reasons for their success.

The BCG analysis diagram below elaborates the consumer engagement in context to the restaurant brands and their interaction with them.

Digital Restaurants Today

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The restaurant business has always tapped into the need for convenience and experience of the consumers. Today’s consumers seek newer experiences that are in line with their changing lifestyle. With the advent of the digital medium, the standards of convenience have risen even further. To succeed, food businesses will have to continuously up that standard and make it more and more convenient and easy for the consumers to get food delivered at their doorstep.

To support the discussion here are a few facts from the KPMG report on “An appetite for change” which outline what consumers expect from restaurants and why consumer convenience is important for the future.

  • 64% – Consumers who are more adventurous in their restaurant food choices than they were two years ago
  • 69% – Consumers who are more likely to visit a restaurant that offers locally produced food items
  • 60% – Consumers who are likely to choose a restaurant that offers items grown or raised in an Eco-friendly way
  • 76% – Consumers who are more likely to visit a restaurant that offers healthful options
  • 79% – Consumers who say restaurant technology increases convenience
  • 70% – Smartphone users who view restaurant menus on their phones at least a few times per year
  • 32% – Smartphone users who are willing to use an app to pay for meals instead of using cash or card

Digital Restaurants Today

New-age technologies have made it easier for restaurants to know and cater to the needs of their patrons in innovative ways. With the massive amount of digital footprint that consumers have today, there is more than enough information available about the consumer. The use of Big Data can capture this enormous amount of information starting from consumer behavior to store level data and lay the foundation of personalization, demand forecasting, labour forecasting, order accuracy, etc.

Further technologies based on Artificial Intelligence like chatbots and recommendation engines, etc. can be trained basis this huge amount of data captured and trained to customize user interaction.

Companies are developing unified technology platforms and single Point-of-Sale (PoS) systems to enable consistent data flow to facilitate advanced analytics. At the same time companies are using Application Programming Interfaces (API’s) to facilitate inevitable innovations and integrate third-party platforms (for example, ordering through Amazon Echo or Google Home). On the other side tech players are moving to cloud-based platforms that support real-time data reporting and analytics.

Technology is disrupting the Industry and there are new horizons open for advanced automation, machine learning, and interfaces such as Voice – may sooner or later enter the mainstream.

Companies must adapt to and build capabilities on the digital front or they may miss the bus in such a drastically changing industry. If not now, it’ll be too late for companies to bridge the gap and the competitors will dominate the gameplay.

Consumers have already started blurring the line between online and offline dining decisions, and the ball is in the company’s court to hit it in the right direction or not, in order to win the Consumer Convenience game.

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Mobile Technologies Opinion

How Will the Retail Industry Capitalize on Artificial Intelligence to Sell More This Christmas Season?

‘Tis the season…the holidays are once again upon us, and with retailers prepping months in advance for the advent of the 2018 season, the goal as always remains: keep customers happy and keep them coming back for more. The currently crowded e-commerce landscape includes behemoths such as Amazon, Alibaba, and Walmart (to give perspective, Walmart is the largest retailer in the world, and Amazon, at number 7 on the list, had a market share of 37% in 2017), so smaller retailers are using every available tool to stay in the game.

As e-commerce continues to grow, with 2018 poised to be the biggest year yet, brick and mortar stores will be forced to use such technologies as artificial intelligence and machine learning (AI and ML) to keep their edge and outperform their competition, pursuing innovative and resource-conscious ways to connect with their digitally savvy consumer base.

To successfully compete in the 2018 holiday market, brand owners will need to ask:

  • What is it that consumers want from retailers this holiday season?
  • What functions will AI & ML influence this season?
  • What are the factors that brand owners should keep in mind while incorporating an AI strategy this holiday season?

In this article, we address those questions and examine how AI and ML technologies are forever shifting how customers and retailers engage and interact with one another, particularly during the frenzy of holiday shopping.

The Rise of Online Shopping

The e-commerce market in the United States is about $450 Billion per year, and e-commerce represents roughly 10 percent of the total market. On an average, consumers spend more than 3 hours per day on social media, and with the constantly evolving technological advances, search engines and websites aren’t the only platforms to see a dramatic rise in shopping activity. Social media sites such as Instagram have experienced a rise in their engagement. Consumers are more likely to respond and relate to direct messages sent by social media influencers than those sent directly from brands themselves. Brands such as Natori recognize the power of these organic touch points with potential customers, and the relationship-building groundwork they provide for future and repeat business.

According to the Deloitte 2017 Holiday Retail Survey, more than half of shoppers reported that they would make most of their purchases online for the 2018 holiday season. Past behaviour showed that consumers primarily use search engines to find the best deals and compare prices online, but the majority still went to a physical store to buy those products. Now, the scales have tipped, balanced between physical and online sales.

Succinctly put, consumers want more with less. They want an easy-to-use, issue-free shopping experience that promises to keep on giving, very much in the spirit of the season. They want the ease of price matching and to research customer reviews before they settle on which retailers will get their dollars, but they also want fewer choices when it comes time to actually making that purchase, to reduce the anxiety of the paradox of choice.

As soon as a customer decides to purchase a type of product, “having a smaller range of potential products to choose from reduces choice overload.” AI and ML play an important role not only in strengthening marketing efforts through retargeting ad campaigns but also, more importantly, in sending the right recommendations tailored for consumers (reducing anxiety and giving customers a sense of feeling taken care of) and providing consistently stellar customer service through voice assistants and personalized experiences.

There are several key areas where retailers are or should be harnessing AI and ML technology, in both brick and mortar and e-commerce, to increase their sales revenue this year for the holiday season.

Methods to the Holiday Madness

Methods to the Holiday Madness

Christopher Schyma, the Director of Retail at Sutherland, is quoted as saying:

The rise of automation through AI will have a much more significant impact on retail than other industries . . . This is the result of the changing retail industry – today’s customer requires digital-first experiences, where needs are met and expectations exceeded across a variety of touch points and at the complete convenience of the shopper.

Retailers will try to woo consumers this year with:

  • Marketing: Retargeting campaigns:
  • Customer experience: AI-based recommendations
  • Supply chain & logistics: Product stocks and shipping
  • Customer service: Chatbots

Marketing

Retargeting campaigns are by no means a new player in the retail scene. However, AI technology is becoming more sophisticated, allowing you to glean more nuanced data from consumers’ online and purchasing habits.

Instead of simply suggesting that they buy the thing they saw online in one of your ads, retargeting campaigns using AI can suggest complementary products as well, or products that they may need in the future.

Customer Experience

Personalized shopping experiences, both in-store and online, are one of the key aspects that retailers refine and prioritize when crafting their overall brand experience. AI has been involving with this process in small ways for the past few years, but we’re seeing a greater adoption of technology-forward processes. Shoppers input their preferences into their online profile, and the system generates not only a customized profile for them to view but also a tailored shopping excursion, whether they choose to visit the store in person or shop online.

This level of customization saves the customer so much time sifting through a myriad of products to help them find just the right ones. “AI tech is getting so good that it knows what you want—and can suggest complementary products—even better than you do.”

Customer Service

Self-checkout tills and chatbots have become almost ubiquitous in most customers’ shopping experiences. Recent data from Accenture shows that 65% of consumers “are already using or would like to use a number of technologies that are powered by AI when shopping, including chatbots.” Retailers can use chatbots not only in customer service scenarios to cut down resolution times but also in the lead generation process.

Chris Messina, the lead of Uber’s partner ecosystem development and expansion, coined the phrase “conversational commerce”, a phrase that conveys the “convergence of messaging apps, natural language interfaces and brands” that provide a more natural forum for consumers to connect with their favorite brands through chatbots.

The key for retailers will be to focus on freeing up their employees to do more complex, human-focused activities, rather than the mundane tasks that eat up time and can cause frustration and confusion for customers.

Supply Chain

Retailers can also make use of AI and ML technologies on the back end of their operations through their CRM, supply chain management, and logistics processes. Andrew Cross from Brabners says that AI will have a “serious impact on retail [through] the supply chain . . . inventory management systems are already in play.”

Companies such as Walmart have an AI system in place to solve their “last mile delivery issues” that frequently plague retailers when their stock is low or depleted. Richard Cawston, supply chain managing director for XPO Logistics, shares that Nestle has invested in “a custom-designed distribution centre that will feature integrated data analytics, intelligent machines, advanced sorting systems and robotics,” which will enable Nestle to streamline their operations in order to cut costs and better meet the demands of their customers over the holiday season.

Examples of Retailers Using AI Technology

Below are a few examples of retailers successfully implementing AI technology directly into their customer interactions, recreating experiences from the very first moment and giving customers a sense of awe and inspiration.

Retailers Using AI Technology

Tommy Hilfiger used chatbots heavily during New York Fashion Week in order to increase traffic to their site. The bots were nearly indistinguishable from a human, giving users the power to direct the conversation and providing them options on style guides and digital catalogues of their recent collection, as well as offering a “backstage” look of their latest show.

Stitch Fix makes use of sophisticated algorithms based on profiles filled out by customers on their likes and preferences. These profiles then help customers pick out the right items…not only saving the customer time and money but also ensuring your customers feel that each experience with your company has been tailored and personalized before they visit your online or brick and mortar store.

Japan’s SoftBank telecom operations created a humanoid robot ‘Pepper’ that could interact with customers and ‘’perceive human emotions’’. Pepper was deployed at the Ave apparel store and the store experienced a boost of 98% in customer interactions, a 20% increase in foot traffic and a 300% increase in revenue.

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Both The North Face and the Mall of America use the IBM Watson-enabled platform to offer tailored shopping experiences and customized lists of items. The system, “through voice recognition technology queries and sentiments of customers,” can understand and create a personalized plan for each customer.

Retailers Using AI Technology

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There are AI-enabled platforms that can help transform the entire purchase cycle from merchandizing to customer engagement for retailers, like Vue.ai. It is the world’s only end-to-end Artificial Intelligence stack for brands and retailers. Vue.ai’s product suite contains solutions for merchandizing and operations, the eCommerce site and app and all the way through to marketing.

Best Practices When Incorporating AI

Keep the human touch:

Retailers can embrace AI without losing the human values they built their businesses on. Your customers are people, as are your staff. Never let that become an afterthought.

Remember to be subtle:

Customers may feel “spied on” if retailers take too aggressive of an approach. Proceed with care, and remember that the choice to buy is up to the customer.

Privacy is paramount:

Your customers need to know that you have their best interests at heart. Put safeguards in place, no matter what technology you use, to ensure neither you nor your customers will regret sharing their information.

By using artificial intelligence in every aspect of your retail operations, from online searches to tailored suggestions to your supply chain management, you can ensure your customers feel valued and appreciated rather than feeling like a dollar sign. You can bring the human-ness back to holiday shopping…with a little (or a lot of) help from robots.

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