LogMeIn, Inc. released a new study designed to analyze the business impact and consumer attitudes of today’s customer journey. The LogMeIn AI Customer Experience Study, surveyed over 5000 respondents including 100 respondents from India, comprising of both business leaders and consumers. The research found that over one-third of consumers were not impressed with their customer journey citing an average or poor experience, with 83 % of consumers citing that they had at least one issue while interacting with a brand. Businesses, on the other hand, are reporting far different numbers. 80% of businesses believe their customers would give them a favorable review, despite also reporting that less than half of customer queries are resolved during the first interaction. This disconnect shows that companies are setting the bar for “good” service too low which could have significant business impact as customer experience becomes even more vital in the buying decision of consumers.
Consumers Rely on Classic Channels Despite Providing Slower Resolution
Both business and consumer respondents agree that telephone and email are among the most common channels used to conduct business, however they also tend to produce the slowest time to resolution. Consumers across the region reported that the average time to resolution was 11 hours – which is nearly 3 times higher than the wait time they cited as being acceptable. For those using email interactions the average time globally to respond was reported at 39 minutes while email was reported at 2 hours 17 minutes in India. In addition, global data shows only 49% of problems are solved on the first interaction. These wait times and issues with first contact resolution are likely due to the fact that 46% of businesses believe their agents struggle with the volume of customer requests.
Businesses Are Investing in Customer Experience
Feeling that traditional customer engagement solutions aren’t meeting expectations, 82% of business respondents in India said they will allocate more budget to new solutions specifically designed for customer engagement over the next 12 months. In addition, 40% of businesses reported that they are already investing in emerging technologies like AI, while another 40%, are planning to invest in the same over the next six months. Companies anticipate these investments will increase customer satisfaction, resolve customer inquiries more quickly, be able to provide a more personalized experience, and increase agent satisfaction levels. Over 70% of consumers globally want brands to leverage technology to reduce time to resolution.
Chatbots: A Realistic View
Today, only 24% of Indian consumers believe they get the best results when interacting with a brand when an AI-powered chatbot is involved in some capacity – either as a self-service tool or to assist a human agent. And while there is a portion of Indian consumers who are skeptical about chatbots, a majority (61%) see the benefits for customer service.
Businesses agree that chatbots can help deliver the faster resolutions for customers while also helping agents be more productive and effective. To date, customer service agents use an average of 3 different systems to service a customer, and spend over half their time understanding basic facts like customer profile information and the nature of the inquiry. Operating behind the scenes, chatbots can gather this information in real-time – informing the agent of who they are talking to, their history with the brand, the potential problem the customer is having, and how to solve it. Having this information at the outset leaves agents with more time to spend on resolving the issue. And answering the hot button question of whether chatbots will replace human jobs, the answer was no. In fact, 80% of Indian organizations reported that if chatbots could reduce inquiries into call centers, they would train agents to handle different or additional tasks.
“What we learned from doing this study is that despite hesitations around using AI, both consumers and businesses do think it’s changing customer service for the better,” said Ryan Lester, Director of Customer Engagement Technologies at LogMeIn. “While customers, for the most part, have come to accept that their interactions with brands will be involved and time consuming, their expectations are increasing as new technologies become more commonplace. Companies have a unique opportunity to leverage these new advancements — like chatbots — to provide a leg-up on the competition and set the bar for all others in their industry and beyond.”
Tata Tele business service hosts a Successful discussion with CXOs for resilience & business growth in Post COVID world
Tata Tele Business Services (TTBS), hosted CXO Round Table Discussion with industry leaders on building a new mindset for business resilience and growth. The discussion centered around Respond, Reboot and Reinvent as key imperatives; with large Enterprises reinventing their business models as they continue to respond effectively to the aftershocks of the crisis.
While the potential requirement for many organizations is to build digital competency, the larger goal is to be data-driven and leveraging the cloud capabilities. Moreover, witnessing variable cost structures, agile operations, and automation which could create stronger capabilities with digital presence and security.
According to an IDC report, ‘By 2022, 70% of all organizations will have accelerated use of digital technologies, transforming existing business processes to drive customer engagement, employee productivity, and business resiliency.’
Industry representatives such asUpkar Singh, Director IT, Fidelity Information Services India Ltd., Raj Neravathi – Head of Technology, Titan, Yogesh Kothari – Sr. Vice President, Quatrro Business Support Solutions shared their expertise upon business agility, examples from their professional career and how they are successfully driving the digital transformation journey for their organization.
Addressing the session, Mr. Shibhu Davies, Sales Head – North and East, Tata Communications Ltd. said, “There is a plethora of technology available in the market, understanding the most suitable one for a particular business is the key factor. To thrive in the next normal, companies must be data driven to make critical and timely decisions. While there is an uptick in the businesses investing in data and nimble technologies like cloud and AI, many are still struggling to maintain momentum. Businesses need to get out of cultural obstacles, address data privacy and governance challenges to enhance their degree of business transformation.”
Elaborating further on increasing adoption of Cloud communication, Mr. Shibhu Davies explained, “Cloud Communication suite like Smartflo being offered by Tata Teleservices are inherently designed for a digital or hybrid environment and is well-equipped to deal with the growing overlap between digital technology and enterprise operations. Besides enhanced efficiency and operational flexibility, it offers more robust security to your business with a pre-configured unified threat management system.”
Mr. Upkar Singh, Director IT, Fidelity Information Services India Ltd said “Covid has created an unprecedented impact across all regions – organizations that are flexible both from technology and operational perspective have been able to RESPOND in time, REBOOT their functions and are now REINVENTING result oriented approach”
Mr. Raj Neravathi – Head of Technology, Titan said, “During times of catastrophes, leadership plays a very important role in adoption to change. Composure, calmness, honoring and supporting every internal and external stakeholder through thick and thin helps revive business and defines leadership by example.”
Mr. Yogesh Kothari – Sr Vice President, Quatrro Business Support Solutions said, “Challenges that enterprises are facing in the current times is resistance to change. There is a lack of vision for creating a digital journey for the customer and technology know how for their business”
Highlights of discussion:
Challenges in Technology Adoption
The key challenges faced by enterprises for adopting new technologies extend both towards the changing customer experience along with employee pushback. Merely purchasing and implementing a solution in response to a localized issue does not equate to technology adoption and agility. Organizations are considering two key points, recognizing and responding to the shifting trends in consumer behavior and avoiding the initiatives that target specific issues.
The post-covid world has led to unexpectedly increased customer readiness towards trying new channels for interacting with businesses.
Organizations adopting to technology, lead to driving changes strategically through an ongoing process where being receptive to changing consumer trends helps in the formulation of effective roadmaps. These roadmaps can then be used to build better value propositions by leveraging the right technological advancements, leading to business growth and benefits.
Role of Leadership In Bringing Organizational Change
Leadership plays a very critical role while dealing with catastrophes. From healthcare solutions to virtual classrooms, from facilitating remote work and learning, from re-imagining online business models and digital revenue lines, to stepping up the cyber security, organizations are working on new challenges.
The pandemic has accelerated transformation multifariously for businesses in India. Organizations are re-imagining their business models, relooking at talent management strategies, and fast-tracking digitalization efforts to be more resilient to disruption.
Organizations are simplifying and enhancing their IT landscape, architecting systems for integration, balancing operational and capital expenses using the cloud. Investments are being made towards intelligent systems that provide incremental learning abilities.
Technology Investments for a Digital Future
Over the last couple of months, it has become increasingly evident that digital adoption is not negotiable. Having the right technology to power up digital strategies is fundamental in today’s business world. It is a business requirement without which organizations are not able to grow in a rapidly evolving market landscape.
A good business continuity solution that delivers digital workspaces to access critical applications, have accelerated the performance of organizational applications on remote connections. With right platform and solutions clubbed with excessive trainings, organizations have managed to continue with their operations without major loss in productivity or efficiency.
Digital technologies have caused a shift in customer expectations, resulting in a new kind of modern buyer. Today’s consumers are constantly connected and aware of what they can do with technology. Bringing the employees up to speed to cater to the new age customers has been one of the key form of investments for various organizations.
Respond, Reboot and Reinvent – The New Mindset for Growth
Organizations have taken immediate actions focused on keeping people safe and essential business functions operating. This has been relatively marked with high effort and possibly chaotic activity.
Organizations are adopting to the wholistic approach, recognizing evolving customer demand, channels of information consumption, building continued incremental intelligence including technology that provides agility. Agile decision making and strategy setting by enterprises have outsized performance and established a lead over the competition that sustains long after the initial disruption. By reinventing themselves, organizations have learnt to conduct operational processes and workflows in new, repeatable, and scalable ways.
- Gaining New perspectives, relooking at business models and embracing new models of harnessing technology have become business priorities.
- Reinvent on an ongoing basis to build an agile, adaptive & resilient enterprise for a sustainable future.
- Uninterrupted connectivity between all stakeholders, internally within employees and externally with customers and vendors across platforms and touch points is of critical importance.
Bharti Airtel Announces 5G Ready Network
In a major landmark, Bharti Airtel (“Airtel”) announced that it has become the country’s first telco to successfully demonstrate & orchestrate LIVE 5G service over a commercial network in Hyderabad city.
Airtel did this over its existing liberalised spectrum in the 1800 MHz band through the NSA (Non Stand Alone) network technology. Using a first of its kind, dynamic spectrum sharing, Airtel seamlessly operated 5G and 4G concurrently within the same spectrum block. This demonstration has emphatically validated the 5G readiness of Airtel’s network across all domains – Radio, Core and Transport.
Airtel 5G is capable of delivering 10x speeds, 10x latency and 100x concurrency when compared to existing technologies. Specifically, in Hyderabad, users were able to download a full length movie in a matter of seconds on a 5G phone. This demonstration has underlined the company’s technology capabilities. The full impact of the 5G experience, however, will be available to our customers, when adequate spectrum is available and government approvals received.
Gopal Vittal, MD & CEO, Bharti Airtel said: “I am very proud of our engineers who have worked tirelessly to showcase this incredible capability in Tech City, Hyderabad today. Every one of our investments is future proofed as this game changing test in Hyderabad proves. With Airtel being the first operator to demonstrate this capability, we have shown again that we have always been the first in India to pioneer new technologies in our quest for empowering Indians everywhere.”
“We believe India has the potential to become a global hub for 5G innovation. To make that happen we need the eco system to come together – applications, devices and network innovation. We are more than ready to do our bit.” added Gopal Vittal.
Airtel Xstream Fiber Rolls Out Gigabit Wi-Fi Experience
Bharti Airtel (“Airtel”) has kicked off the New Year with some exciting news for customers with the launch of hyper-fast Wi-Fi experience.
Airtel Xstream Fiber customers can now enjoy 1 Gbps data speeds over Wi-Fi and no longer have to be constrained by a dedicated LAN cable. The Airtel Xstream Fiber Rs 3999 plan now comes with a complimentary 1 Gbps Wi-Fi router to go with unlimited data quota and massive bundled content.
The highly advanced 4×4 Wi-Fi router, will enable seamless 1 Gbps Wi-Fi coverage across Homes and Small Offices. This will unlock a great experience for online gaming and animation and for work or study from home with large number of concurrently connected devices. Small Offices will be able to deploy multiple high speed connections for applications such as stock trading and online collaboration that requires reliable high speed connectivity with zero downtime.
Says Vir Inder Nath, CEO – Homes, Bharti Airtel: “Reliable high speed connectivity is a lifeline in today’s digital first world and Airtel is proud to be at the forefront of India’s broadband revolution. A key ask from our customers was liberation from the LAN cable to enjoy the 1Gbps experience and we are delighted to make that happen.”
Airtel Xstream Fiber’s 1 Gbps broadband plan at Rs 3999 also comes with a complimentary Airtel Xstream Box that offers 550 TV channels and OTT content from the Airtel Xstream app library that includes over 10,000 movies & shows aggregated across 7 OTT apps and 5 studios. It offers subscription to premier video streaming apps such as Amazon Prime Video and ZEE5, all accessible through the Airtel Xstream Box.
Airtel is India’s largest private sector broadband service provider with presence in over 150 cities.
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