Latest News  

Four disruptive trends that will reshape customer service

This article is from the premier issue of Customers First magazine – sharing global insights on customer strategy and innovation

2016-05-22 22:18:55 - by Telus International

Once viewed as a last resort for frustrated customers, the contact center is now a central hub for sustaining a company's brand experience. For that to remain true, contact centers must stay relevant, and able to respond to changing customer needs. In the coming years, contact centers will be put to the test facing several, potentially disruptive, trends that will impact customer support in a big way.

Internet of Things (IoT)


It's been said that IoT will give us the most disruption and opportunity over the next five years, but what exactly is it? IoT revolves around machine-to-machine communications using cloud computing and data gathering sensors (or in layman terms, it means embedding technology into products to make them "smart"). Common applications of IoT include smartwatches, fitness trackers, smart cars and smart appliances.

So why pay attention? According to Gartner, IoT devices will encompass over 6.4 billion connected objects in 2016, a 30% rise over 2015. Likewise, Intel states there will be roughly 26 smart objects per human by 2020.

IoT will have huge implications for the contact center operationally, technically and even culturally in the years to come. Centers will manage more real-time customer data, enabling proactive support and better insight into consumer preferences. With more data comes greater scrutiny around privacy and security, and IoT may also increase the need for omnichannel service, tiered support levels, and so on.

Whether consumers have heard of IoT or not, they will experience it more and more in their daily lives. For the contact center, it will be about managing all of this new connectivity without adding customer service complexity.

Wearables


Yes, wearables technically falls under IoT, but we think it deserves a special shout out. Often defined as technology devices worn by consumers to track biometric activity (Fitbit anyone?), it's quickly broadening into additional categories. Wearables will connect numerous verticals and their products from high-tech gadgets and virtual reality devices, to luxury fashion and healthcare companies.

For example, imagine devices like Ralph Lauren's PoloTech Shirt, Nike+ and Fitbit – all working together and sharing data to provide the wearer with a complete view of their athletic performance. This data could then be shared further with health care providers and/or insurance companies.

For the call center, this means having agents that no longer serve just one product but rather, the entire product ecosystem including, potentially, competitor products. Some contact centers will view this as an operational headache, while others will see it as an opportunity for differentiation.

Financial Technology (aka Fintech)


Fintech is a term often used to describe financial technology startups (although some have grown past the experimental phase and into the mainstream).

While some label fintech companies as disruptive (even revolutionary) as they threaten traditional banking, many see them as filling a gap for the services that big banks simply don't offer. Others see them as changing finance for the better, putting more focus on the customer, helping address previously underserved consumers (including Millennials), and forcing incumbents to examine their own costs and quality of service.

So what's the impact on call centers? When it comes to banking and finance, there are going to be entirely new ways of doing business with new players, new customer groups, and new expectations. Both incumbents and upstarts are going to have to ensure robust customer support practices are in place as consumers start to gain more power and control when it comes to their financial services options.

Sharing Economy


Airbnb is less than eight years old, yet it has already drastically changed the way people travel. Likewise, Lyft and Uber have forced taxi companies to offer their own mobile apps. While traditional business models change in response to new sharing economy entrants, customer service expectations will change as well.

Why? The sharing economy requires close cooperation and authentic experiences between people on each side of the transaction. While it's not clear how "disruptive" the sharing economy will be for contact centers, it is clear that it will change the way people consume and deliver services. In the end, good customer service will be a shared responsibility based on more emotional, personal connections. Figuring out how to adopt sharing economy principles in the contact center could be a differentiator in the years ahead.

Both incumbents and upstarts are going to have to ensure robust customer support practices are in place as consumers start to gain more power and control when it comes to their financial services options.

Related articles and research:
- TELUS International Europe
- TELUS International


0 COMMENTS ^ Go back to Top
WRITE A COMMENT ^ Go back to Top
 
Your email address will not be published.
Nickname
Email
Comment
Validation Code
   
 
 
NEWS
FintechOS announces results beyond expectations in 2018

FintechOS announces revenues of 6 million Eur from selling FintechOS technology in just one year from inception. This amount combines 1 million Eur from annual recurring revenue for licenses and 5 million Eur

 Read Full article »
Tremend joins Mellanox in powering the majority of Top 500 supercomputers

Tremend - one of the fastest growing software companies in Romania - has signed an agreement with Mellanox Technologies, a leading supplier of end-to-end connectivity solutions for servers and storage, with hea

 Read Full article »
Almost 19,000 entrepreneurs have already applied for Start-up Nation

The Start-up Nation 2018-2019 program has been accepting business projects for almost a month now, even though the state budget for this year has not yet been passed.

 Read Full article »
Webhelp Romania aiming for EUR 10 million turnover growth, 500 new employees in 2019

Romania's outsourcing market, which recorded two-figure growth in a year, will attract new investments and generate new jobs in 2019, a year full of challenges. After a 2018 that repositioned Romania on the map

 Read Full article »
Manpower: Robots will be your colleagues not your replacement

Fears that robots will eliminate your job are unfounded with a growing number of employers planning to increase or maintain headcount as a result of automation, staffing company ManpowerGroup said in a survey

 Read Full article »
Study: Five out of 10 employers eye lay-offs

Almost 5 out of 10 employers would proceed to lay-offs, according to a survey conducted by the National Council for Small and Medium Sized Companies (CNIPMMR).

 Read Full article »
US company Visteon looks for software developers at Timisoara

Visteon, automotive supplier focused exclusively on cockpit electronics, it is setting up a new product development center in Timisoara, Romania. The company plans to build a team of 400 employees in Romania,

 Read Full article »
Gabriela Mechea takes over the helm of ANIS

The Software and Services Industry Employers Association ANIS appointed Gabriela Mechea as the organizations' executive director, replacing Valerica Dragomir who left the association after 17 years.

 Read Full article »
Poll: 2018 was hard for recruiting – 29 Interviews to one hire

Nearly nine out of ten companies had a tougher time finding suitable employees in 2018 compared with previous years, interviewing an average 29 candidates before hiring one person, a poll by HappyRecruiter show

 Read Full article »
CBRE maintains its market leader ranking with 24 per cent market share on the Bucharest-based office segment

In 2018, CBRE, the real estate consultant managed 24 per cent of the Bucharest-based office market, according to a release of the company.

 Read Full article »
 
 
 
MOST READ ARTICLES
» The most appreciated companies from th...
» Webhelp Romania aiming for EUR 10 mill...
» Tremend joins Mellanox in powering the...
» The Outsourcing industry announces its...
» Manpower: Romania's labor market, more...
» Deloitte's Tech Trends 2019 report: B...
» Bucharest, in the top of cities in Eur...
» Oracle reaches 4,200 employees and pla...
» Genpact's COO: Staying ahead of the cu...
» Ascentis: The top ten HR trends for 20...
 
EDITOR CHOICE
Nomination are now open for Romanian Business Services Forum and Awards

Nominations have opened for the prestigious Romanian Business Services Forum & Awards. The 2019 awards will continue to recognize and reinforce the important contribution made by business services professionals

 Read Full article »
Study: 89 per cent of finance teams yet to embrace Artificial Intelligence

Report by Association of International Certified Professional Accountants and Oracle shows that almost 90 per cent of finance teams do not have the skills to support digital transformation.

 Read Full article »
Bucharest, in the top of cities in Europe with the largest number of experts in high-tech industry

Bucharest is among the top cities boasting the most experts in the high-tech innovative industry, with over 70,000 current employees, next to London, Dublin, Madrid or Budapest, reads a study conducted by CBRE

 Read Full article »
CBRE study: Post-millennials, the happiest about their offices

During 2018, real estate consultancy company CBRE conducted the first study dedicated to work environment in office buildings in Bucharest. The respondents have been structured in four age segments, such as Z g

 Read Full article »
Deloitte's Tech Trends 2019 report: Beyond the digital frontier

The recently released Deloitte's Tech Trends 2019: Beyond the digital frontier, as each Tech Trends report in the series conducted by the consultancy company, lobbies for embracing the increasing, often mind-b

 Read Full article »
Latest News  
 
about us | newsletter | contact | members area | GDPR policy
Copyright © 2015 by Diplomat Media Events Design by Diplomat Media Events