By Mike Feldman, President, Large Enterprise Operations, Xerox
If digital transformation is something you may get around to next year or the year after that, you’re going to be too late.
For a number of reasons, the time for digital transformation is now. And, one of the most important reasons comes from your customers. It doesn’t matter what industry you are in, the digital customer experience is rapidly becoming the expectation and the norm.
Whether you work in financial services, retail, healthcare, manufacturing, government, education or some other field, your customers are growing more intolerant of manual, paper-based forms and processes that slow them – and you – down. They expect that your service and access to their information be automated, electronic, mobile and secure.
Expectations continue to rise, in part because some companies do a very good job of digitizing how they work, setting the bar for everyone else. When companies lag behind the benchmark, it’s a big disappointment to the growing community of customers, employees and partners who live and work in a digital world. They make their choice by moving on to someone who gets it.
Losing the Digital Customer
Here’s an example from my own experience as a digital-ready customer. Attempting to open a new account at my current bank, I was instructed to print out a form, complete it and physically bring it into a branch for processing. That bank lost my business. Instead, I went to another financial firm, where I was able to handle everything online, and my new account was open that night.
The bank – or any other business that understands the digital customer is a real opportunity to grow revenue – has a considerable advantage, especially while their competitors still struggle to provide digital engagements and experiences.
Who wants to be a laggard? The time is now. If you put off your digital journey, you put customer loyalty at risk. Increasingly, customers will seek out companies that provide a rich, digital experience.
Get More Digital Through MPS
Meeting expectations of the digital customer gets easier when companies have a good MPS foundation in place.
If your organization has implemented MPS, here’s some good news. You already have an optimized, secure and well-managed platform for workflow-oriented innovation. Why not take it to the next level and make use of the powerful platforms and analytics that should be delivered with every MPS engagement.
No industry is immune. Everything and anything can go digital — music, movies, books, watches, photos, appliances, even our homes and cars. Every paper-based process will also go digital. The question is, does it happen to you, or do you make it happen, and make your company more successful and competitive?