Customer experience at the heart of digital transformation
Harnessing customer expectations to drive business transformation has never happened so fast. As customer interactions shift further to digital in the new normal, leaders have accelerated the digitisation of customer and supply-chain interactions by years. Industry is leaping ahead to meet changing customer demands by digitising business processes and workflows.
The impact of digital transactions, payment innovations, and online interfaces are assisting to radically transform how we view digital transformation strategies and frameworks. This new-found digital enthusiasm translates directly into workflow efficiencies and the end-to-end integration of processes.
Consumers live in micro-moments
In financial services, for example, consumers live in micro-moments, with ease of access and exposure to a large and diverse set of digital services. They are no longer satisfied with just getting what they want. Today’s consumer demands flexibility in how and where they engage financial services to get what they want. FinTech has leapfrogged legacy systems by reshaping financial services at a rapid pace. EY’s Global FinTech Adoption Index 2019 shows 82% consumer FinTech adoption in South Africa and is expected to increase even further, with the country ranking third in future growth behind only China and India and sharing the position with Russia.
Legacy workflows and manual systems can take years to transform. Embedded in cultural, technological, and systemic complexities, change has often been expensive and time-consuming to execute. Driven by changing trading environments over the past year, including remote work, contactless delivery, and online transactions, among many other factors, companies report that their technology strategies have now been “pushed over the tipping point.”
Automation and digitisation workflows
Central to this is the automation and digitisation of workflows. Understanding customer touchpoints and tailoring each step in the customer journey can shape efficiencies and accelerate the integration of processes, technologies, and competencies across the board. The micro-moments in a customer journey translate into micro-processes and workflows that can be automated, accelerated and innovated.
The hidden success factor in this speed to market is the advent of low-code / no-code development platforms. Visual software development environments have brought much-needed agility to change mission-critical and sophisticated applications at the core of the ecosystem, without costly investments of the past.
If you are looking to streamline processes in the digital ecosystem of your business, reach out to us. Linxus has created many workflow applications and digitisation solutions at unprecedented speed and drastically reduced cost, both for the cloud and on-premise environments.