Of the 5 parameters for #DigitalTransformation the toughest will be to Strike a balance between “People & Technology” and that too with the front end staff who face the Customers but are rarely consulted or explained about the digital transformation initiatives in the organisation. They just get a download through an email or a high level training. This means bad customer experience, lesser acquisitions. I have ‘n’ number of first hand experiences where the Top Management thinks and implements something Digital, which front end staff doesn’t understand and in case of customer Queries and Issues, starts giving random self created explanations which creates a really bad situations for business
As per a report 91% of Financial Institutions will increase their budget for Digital Transformation in next 2 years. Which make sense due to increase in #CostofCompliance and cost pressure.
DO NOT let this investment go waste with random Digitisation.
Financial Institutions must analyse data with #CustomerBasis than #ProductBasis.
Next 2 – 5 years will be crucial for Digital Transformation and companies who will miss on customer centricity parameter will loose the game.
For #Asian market customer centricity is important because this market leapfrogged, and people with no landline jumped directly to 4G smart phones, which increased their expectation bar.
#Digitisation Vs #Digitalisation & #DigitalTransformation
What are you doing for #DigitalTransformation??