Whatever the industry, whatever the purpose of the business, whatever the desired outcomes, business success is the ultimate goal of every business leader.
These days, one way to achieve business success is by digitalizing processes and most importantly for the customer – the customer experience.
There is no shortage of companies that have already achieved significant business improvement through digitalization, and many others that are just getting started in their digitalization journey. Few succeed, others learn and continuously adapt to this change.
Summer is a good time to look at some of these success stories, learn from them and come back refreshed for the second half of the year. Let’s take a look at what some businesses in widely varying industries have achieved in practice through digitalization.
Telecom sales success
Customer experience is rising to the fore in all industries, particularly competitive ones that sell popular services direct to consumers. In today’s age of easy switching between providers, consumers are keen to compare services, make quick decisions and vote with their wallets. “Retention” is a word loved by the business leaders, making it one of the achieve-at-all-cost priorities.
A telecom operator had several webshops and different customer service channels, which resulted in a fragmented customer experience. As part of the digitalization journey, they started streamlining and simplifying online operations which translated into higher customer satisfaction and resulted in the company’s best year ever. Sales increased by 15%, and sales conversion by 20% from the year before. Watch video >>
The future of traffic planning
The success of the future smart cities hangs on how quickly and how well we address the problems in the existing cities. Transport is one key area that needs immediate attention. And traffic planning plays a key role in addressing this problem.
So, what will the future of traffic planning look like? How can real time data help in traffic planning? Can this be solved using smartphones and does the existing infrastructure support that? These are precisely the questions that were tested in this pilot. There were over 60,000 data points collected using physical equipment and a video analysis solution. So what did we learn and how can data solve the problems of the future? Watch the video:
Digitalization is not limited to improving the existing. On the contrary, it enables whole new business concepts and models. Say you go to a country market or find just the item you want on a second-hand sales website. Or want to give money to friends or relatives. Up until now, you either needed to travel to meet face-to-face and hand over hard cash, or ask for the recipient’s bank account number, log into your online bank and make a wire transfer. If you were unlucky enough to start the process on Friday night or just before a national holiday, your money did not reach the recipient until, in the worst case, three to five days later.
What if highly competent actors come together as an ecosystem and jointly create a mobile real-time payment platform? And that is what happened in Finland. Now private people can pay each other based on just the mobile number in a snap. Retailers are coming on board. Instant money transfer and no more check-out queues. And this is just a beginning. Watch video >>
What do we learn from these cases?
Have a clear vision and open mind.
What’s the benefit for the customer that you want to deliver?
Not least, selecting the right partner, ideate and co-create, to implement the digital transformation based not just on promise but proven delivery.
Maybe we should talk right after our well-earned vacation – Now?
This article was originally published on Tieto Perspectives blog and also on Innovations in Financial technology media: https://financialit.net/blog/financial-services/different-industries-different-purposes-one-goal-business-success