Utilities are facing growing customer dissatisfaction and a lack of trust. While utilities have launched some digital initiatives like online bill payment and outage information, these efforts are falling short as they offer limited functionality and do not meet customer expectations. Utilities lag other industries like telecom in their use of digital channels, social media, mobile apps, and analytics to engage customers. The telecom industry provides examples of best practices utilities could adopt, such as using social media for customer service, integrating digital channels into overall support, and digital tools to improve billing transparency and reduce call volumes. Overall, utilities need to improve their digital initiatives to better address customer needs and enhance the experience.
Digitizing the Customer Experience within a Utility Robert Simon
Welcome to Transistor! The first ever strategic planning approach to taking the first steps towards building a digital customer experience within a Utility.
Drawing upon our independent research, workshops and extensive experience in customer experience, we have developed a foundational model for any utility looking to chart the course to stay relevant, be more effective (and competitive) as a digital customer centric organization. So what you’ll find inside this guide is a way to get the planning and preparing process started immediately to determine the roadmap you are going to need to build out, manage, and operationalize a lot of change.
Distributing Content to the Omnichannel Traveler Robert Simon
Content distribution is evolving into as complex a strategic need as your market and digital planning have become because every prospective traveller needs a roadmap to your content, and few prospects are traveling the same roads.
Without a content distribution strategy you run the risk driving a prospective traveller into a frustrating user experience and creating a missed opportunity for conversion.
In this guide, we outline a few guiding principles to consider when planning the distribution of your destination’s content for today’s traveler.
Profitability in the Direct-to-Consumer Marketplace: A Playbook for Media and...Cognizant
Amid constant change, industry leaders need an upgraded IT infrastructure capable of adapting to audience expectations while proactively anticipating ever-evolving business requirements.
CMOs & CIOs: Aligning Marketing & IT to Elevate the Customer ExperienceCognizant
In the digital sphere, customer behaviors, organizational structures and entire business models are rapidly changing, compelling CIOs and CMOs to collaborate closely and often, and focus on the common goal of delivering consistent and exceptional customer experiences from day one.
Digitizing the Customer Experience within a Utility Robert Simon
Welcome to Transistor! The first ever strategic planning approach to taking the first steps towards building a digital customer experience within a Utility.
Drawing upon our independent research, workshops and extensive experience in customer experience, we have developed a foundational model for any utility looking to chart the course to stay relevant, be more effective (and competitive) as a digital customer centric organization. So what you’ll find inside this guide is a way to get the planning and preparing process started immediately to determine the roadmap you are going to need to build out, manage, and operationalize a lot of change.
Distributing Content to the Omnichannel Traveler Robert Simon
Content distribution is evolving into as complex a strategic need as your market and digital planning have become because every prospective traveller needs a roadmap to your content, and few prospects are traveling the same roads.
Without a content distribution strategy you run the risk driving a prospective traveller into a frustrating user experience and creating a missed opportunity for conversion.
In this guide, we outline a few guiding principles to consider when planning the distribution of your destination’s content for today’s traveler.
Profitability in the Direct-to-Consumer Marketplace: A Playbook for Media and...Cognizant
Amid constant change, industry leaders need an upgraded IT infrastructure capable of adapting to audience expectations while proactively anticipating ever-evolving business requirements.
CMOs & CIOs: Aligning Marketing & IT to Elevate the Customer ExperienceCognizant
In the digital sphere, customer behaviors, organizational structures and entire business models are rapidly changing, compelling CIOs and CMOs to collaborate closely and often, and focus on the common goal of delivering consistent and exceptional customer experiences from day one.
Cloud Enabled Transformation In InsuranceCapgemini
Immature capabilities and growing market disruptors are compelling insurers to act swiftly and become fully customer centric. According to the World Insurance Report 2015 less than 30% of customers are having positive customer experiences globally forcing Insurers to reinvent their ability to deliver positive customer experience across the entire customer journey.
Capgemini's ACEs (All Channel Experience) for Insurance is built on Salesforce the leading CRM platform to help insurers improve their core capabilities and enrich customer experiences regardless of customer channel or device preferences.
Find out how Cloud-Enabled Transformation in Insurance from Capgemini and Salesforce is a faster and less disruptive way for insurers to rapidly evolve digital capabilities to achieve customer experiences that leave your customers wanting more!
Open Enrollment 2020: Case Study and Trends ReportWayne Wall
Across nearly 200 benefits-enrollment campaigns in 2020, we saw some of the highest levels of employee engagement ever.
See how customized videos, Digital Postcards, decision-support tools, and benefits communications were used to educate employees and drive them to action.
Want to learn more about our OE solution? Go here: www.flimp.net/improve-open-enrollment/
APAC's Digital Insurance Transformers: Illuminating the Way ForwardCognizant
Our research shows that insurers throughout the extremely diverse APAC region are placing their bets on digital transformation strategies to enhance customer experience and optimize operations. We take a deep-dive look into the particulars of what is currently happening and what lies ahead for the Asia-Pacific insurance industry's digital evolution.
It Takes an Ecosystem: How Technology Companies Deliver Exceptional ExperiencesCognizant
Experience is evolving into a strategy that reaches across technology companies. We offer guidance on the rise of experience and its role in business modernization, with details on how orgnizations can build the ecosystem to support it.
Telecommunications service providers in the US can leverage advanced analytics to improve customer retention and average revenue per user, and offer more relevant products and services.
20151014 Presentation Conferência Banca e Seguros PortugalPascal Spelier
I was invited by Capgemini Portugal and ACEPI (Associação da Economia Digital) to present at the 'Conferência Banca e Seguros' event in Lisbon. In this presentation some of the results of the annual World Retail Banking Report 2015 and the three goals an bank should strive for in the near future. Customer behavior, technology and FinTech are changing the value chain for financial services. The incumbents should get ready to take on these challenges. Do you want more info about the presentation or do you want a similar presentation with data from your country? Contact: pascal(dot)spelier(at)capgemini(dot)com
Capgemini Leads Digital Transformation for One of the World's Largest RetailersCapgemini
Read how one of the world's largest retailers defined its digital
transformation journey to gain greater customer insights and build a better in-store experience.
Accenture identifies what motivates consumers & how these motivations lead to changing consumer expectations, preferences & shopping habits. Read more.
Mastering Code Halos Using Digital Insights to Drive Customer ExperiencesCognizant
Innovators recognize that every interaction with every
person and every thing now creates a trail of data — and
they’ve mastered the ability to harness it. Every click, browse,
download, share, transaction and device transmission
enables them to understand, and subsequently monetize,
relationships in ways never before possible.
Returns, the Value Conundrum: Accenture Post & Parcel Industry Research 2018accenture
With the rise of e-commerce, returns have become an integral part of the digital customer experience. See how dynamic friction control and dynamic routing control can transform this experience and improve operations.
Cloud Enabled Transformation In InsuranceCapgemini
Immature capabilities and growing market disruptors are compelling insurers to act swiftly and become fully customer centric. According to the World Insurance Report 2015 less than 30% of customers are having positive customer experiences globally forcing Insurers to reinvent their ability to deliver positive customer experience across the entire customer journey.
Capgemini's ACEs (All Channel Experience) for Insurance is built on Salesforce the leading CRM platform to help insurers improve their core capabilities and enrich customer experiences regardless of customer channel or device preferences.
Find out how Cloud-Enabled Transformation in Insurance from Capgemini and Salesforce is a faster and less disruptive way for insurers to rapidly evolve digital capabilities to achieve customer experiences that leave your customers wanting more!
Open Enrollment 2020: Case Study and Trends ReportWayne Wall
Across nearly 200 benefits-enrollment campaigns in 2020, we saw some of the highest levels of employee engagement ever.
See how customized videos, Digital Postcards, decision-support tools, and benefits communications were used to educate employees and drive them to action.
Want to learn more about our OE solution? Go here: www.flimp.net/improve-open-enrollment/
APAC's Digital Insurance Transformers: Illuminating the Way ForwardCognizant
Our research shows that insurers throughout the extremely diverse APAC region are placing their bets on digital transformation strategies to enhance customer experience and optimize operations. We take a deep-dive look into the particulars of what is currently happening and what lies ahead for the Asia-Pacific insurance industry's digital evolution.
It Takes an Ecosystem: How Technology Companies Deliver Exceptional ExperiencesCognizant
Experience is evolving into a strategy that reaches across technology companies. We offer guidance on the rise of experience and its role in business modernization, with details on how orgnizations can build the ecosystem to support it.
Telecommunications service providers in the US can leverage advanced analytics to improve customer retention and average revenue per user, and offer more relevant products and services.
20151014 Presentation Conferência Banca e Seguros PortugalPascal Spelier
I was invited by Capgemini Portugal and ACEPI (Associação da Economia Digital) to present at the 'Conferência Banca e Seguros' event in Lisbon. In this presentation some of the results of the annual World Retail Banking Report 2015 and the three goals an bank should strive for in the near future. Customer behavior, technology and FinTech are changing the value chain for financial services. The incumbents should get ready to take on these challenges. Do you want more info about the presentation or do you want a similar presentation with data from your country? Contact: pascal(dot)spelier(at)capgemini(dot)com
Capgemini Leads Digital Transformation for One of the World's Largest RetailersCapgemini
Read how one of the world's largest retailers defined its digital
transformation journey to gain greater customer insights and build a better in-store experience.
Accenture identifies what motivates consumers & how these motivations lead to changing consumer expectations, preferences & shopping habits. Read more.
Mastering Code Halos Using Digital Insights to Drive Customer ExperiencesCognizant
Innovators recognize that every interaction with every
person and every thing now creates a trail of data — and
they’ve mastered the ability to harness it. Every click, browse,
download, share, transaction and device transmission
enables them to understand, and subsequently monetize,
relationships in ways never before possible.
Returns, the Value Conundrum: Accenture Post & Parcel Industry Research 2018accenture
With the rise of e-commerce, returns have become an integral part of the digital customer experience. See how dynamic friction control and dynamic routing control can transform this experience and improve operations.
Best Practices in Implementing Social and Mobile CX for UtilitiesCapgemini
Are you having difficulties in implementing a modern customer experience solution strategy that meets your customers’ needs across all interaction channels, including mobile and social?
This presentation highlights best practices for the design and implementation of effective CX strategies adapted to the utilities industry.
Presented at Oracle OpenWorld 2014 by Bruna Gapo, Oracle's Utilities Industry Director, Ajay Verma, Capgemini's Global Utility Practice Leader, and Victor Jimenez, Capgemini Utilities Executive.
http://www.capgemini.com/oracle
Steps to consider when moving from paper to digital in any business. Solutions presented have been developed by TC Inc. and or Networking team. Steps provided should work on just about any environment and allows for expansion while minimizing growing pains.
Emergence and transformation of digital utilities in the “smart” era Capgemini
By Jonathan D Loretto and Michel van Zutphen
Oracle Open World 2013
Content:
The Emergence of the Digital Utility
Reinventing the Digital Customer Experience
The Digital Divide in Utilities; the growing gap between customers and UtilitiesBen Gilchriest
Surveys show that utilities have realized the need for enhancing customer experience in response to increasing customer dissatisfaction (only 29% of customers trust their retailers). However, the industry’s best efforts to rebuild confidence and trust could in fact be undermined by a growing digital divide, with consumers demanding a digital experience that the industry has so far been unable to meet.
This paper explores the challenges for utilities and how they can learn from other industries, like telco, to respond.
Digital Transformation for Utilities: Creating a Differentiated Customer Expe...Cognizant
Utilities stand to reap large gains in customer-service efficiencies and user experience satisfaction by adopting a mobile-centric approach with apps that cover a wealth of transactional and engagement features.
Extending the Case for Digital: Health Plan Members SpeakCognizant
Cognizant's exclusive study shows that healthcare consumers’ appetite for digital continues to expand and deepen across all channels and age ranges: 10 key findings that will help health plans refine their digital member experience strategies in 2018 and beyond.
eGain UK Public Sector Inclusive Services Report: January 2014Mark Fenna
eGain commissioned research across the whole UK Public Sector to understand the state of channel migration/ digital transformation and the impact of the 'Digital by Default' policy. This report outlines the key findings from the research and offers several opportunities for UK Public Sector to further improve citizen services, better address the digitally excluded segments and underpin the digital transformation business case.
Quality of Experience in a Digital World: A CSP Action Plan for Millennials a...Cognizant
Customers of communications service providers want easier to use digital channels, proactive and personalized offerings, and the ability to bring connected technologies to life, our latest research reveals.
What does customer satisfaction in the digital age actually mean? At Sprint Reply, in close cooperation with our partner consultancy mobileVision, we have conducted an in-depth research on today’s customer satisfaction challenges and opportunities. The paper provides a number of interesting insights. Read it here.
Strategies for product improvement: Tracing the attitude of real estate mobil...inventionjournals
Product improvement formerly a concept of ingenuity and research has realigned its orientation to the changing scenario and is concerned with providing a solution to customer needs and wants. The customers of the 21st century are not only knowledgeable but technology driven demanding a perfect product in a prompt manner nevertheless at reasonable price. The impulsive customer also tends to be rational when investments are high as in the case of real estate sector. Technology infusion is just a click away for the marketers of the digital era. The universal truth that 90% of customers browse the Internet before a purchase is acknowledged by the National Association of Realtors. Moreover mobile application the rage among the consumer’s centres on user interface mandated by the customer dictates. Customer driven strategies the norm of knowledge economy is the process of responding to data mining or precisely opinion mining. Products cannot sustain in a competitive arena if customers are excluded and so feedback from the real estate customers regarding mobile application was collected using an explorative study. The research confining to Coimbatore district with respect to mobile application forms a premise to design a winning product.
Social Media for Utilities: Developing a Satisfying Customer ExperienceCognizant
By creating a dynamic and responsive social media presence, utilities can enhance customer interaction and influence key decisions, turning dissatisfied consumers into advocates.
Why companies should care about e-care, Digital customer service is now a strategic imperative, but its adoption is hampered by weaknesses in delivery strategies and incomplete measurement of its effectiveness
How Insurers Can Leverage Social and Messaging Apps to Enhance Digital ValueCognizant
Insurance carriers looking to bolster their digital ROI and reach their clientele of millennials most effectively must look beyond mobile apps and online portals, into social and messaging apps. We offer a roadmap and use cases for enhancing insurers' digital presence.
Three Strategies to Improve the Citizen ExperienceGov BizCouncil
After a difficult 2014, federal agencies are looking to pivot toward modernizing their customer service infrastructures to better serve an increasingly digital-savvy public. Agencies are well on their way to making technological improvements, but without the corresponding cultural shifts agencies will continue to fall short of their goals. Drawing on recent studies from the Government Accountability Office (GAO) and the American Customer Satisfaction Index (ACSI), this issue brief lays out a roadmap to help your agency achieve a more citizen-centric mindset.
Download this GBC Issue Brief to learn:
How federal customer satisfaction with public services currently stacks up against the private sector,
What steps the federal government is taking to modernize its customer service infrastructure and what more it could be doing, and
Three strategies that can help your agency better engage with those it serves as well as improve its overall public perception.
Accenture Distribution and Agency Management Survey: Reimagining insurance di...Accenture Insurance
The global Distribution & Agency Management Survey draws insights from 400+ insurance distribution executives about connected devices, data and analytics, agent compensation and more. The research covers topics such as the customer experience, channel optimization, the changing role of agents and the Internet of Things, among others and how digital is affecting insurance distribution and customer interactions.
COVID-19 heightened chronic challenges within the global healthcare industry. It became a catalyst amid fierce competition and tight regulations for health providers and payers to focus on digital health, cybersecurity, patient data transparency, and a variety of customer-centric and operational enhancements. As a result, we found the 2022 trendline pointing to improvements in access and quality of care.
Healthcare challenges such as optimizing the cost of care while simultaneously enabling personalized interventions and consumer-friendly shoppable services are long-standing − but, historically, the industry has been slow to react.
Read our Top Trends 2022 report to examine the lingering ramifications of the pandemic, responses from medical and insurance organizations, and the worldwide impact of ever-changing regulatory standards and mandates.
A combination of factors − the pandemic, catastrophic weather events, evolving policyholder expectations, and insurers’ drive for operational efficiency and future relevance − are sparking P&C industry changes.
In a post-COVID, new-normal environment, the most strategic insurers are building resilient, crisis-proof enterprises poised to take advantage of emerging and future business opportunities. They are leveraging advanced data analytics and novel technologies to assure agility and achieve positive revenue and customer satisfaction outcomes. Competitive advantage will hinge on accelerated digitalization and faster go-to-market. Therefore, win-win partnerships and embedded services with InsurTechs and other ecosystem players are critical.
Read Capgemini’s Top P&C Insurance Trends 2022 for a glimpse at the tactical and strategic initiatives carriers are undertaking to boost customer-centricity, product agility, intelligent processes, and an open ecosystem to ensure profitable growth and future-readiness.
This analysis provides an overview of the top trends in the commercial banking sector as they shift to technology high gear to boost client efficiency and battle a volatile, uncertain, competitive, and evolving landscape.
First, it was retail banking. Now, advanced technology is shifting to – and disrupting − the commercial banking space. Many commercial banks, known for paperwork, red tape, and branch dependency, were unprepared to support clients during their post-COVID-19 ramp-up. But now, the digital pivot to new mindsets, partnerships, and processes is in overdrive.
As commercial banks grapple with competition from FinTechs, BigTechs, and alternative lenders, their inability
to fulfill SME demands and pandemic after-shocks necessitates transformative process changes and a move
to experiential, sustainable, and inclusive banking models. We expect banks to strive to meet the demands
of corporate clients and SMEs by digitally transforming critical workflows and improving client experience.
Additionally, incremental process improvements in the middle and back-office that leverage intelligent
automation will keep the competition at bay because engaged clients are loyal.
Adopting newer methods to mine data and moving to as-a-Service models will prepare commercial banks
to flexibly respond to newcomers and find ways to co-exist through effective collaboration. The time has come for commercial banks to put transformation on the fast track as lending losses in wallet and market share could spill over to other functions!
How incumbents react and respond to 2022 trends could determine their relevancy and resiliency in the years ahead.
The Covid-19 pandemic necessitated the payments industry undergo a facelift, sparked by novel approaches from new-age players, fostered by industry consolidation, and customers’ demand for end-to-end experience. Crossing the threshold, the industry is entering a new era – Payments 4.X, where payments are embedded and invisible, and an enabling function to provide frictionless customer experience. As customers make a permanent shift to next-gen payment methods, Digital IDs are critical for a seamless payment experience. The B2B payments segment is witnessing rapid digitization. BigTechs, PayTechs, and industry newcomers are ready to jump in with newfangled solutions to help underserved small to medium-sized businesses (SMBs).
As incumbents struggle with profits, new-age firms are forging ahead to take the lead in the Payments 4.X era by riding the success of non-card products and services. The new era demands collaboration, platformification, and firms can unleash full market potential only by embracing API-based business models and open ecosystems. Data prowess and enhanced payment processing capabilities are inevitable to thrive ahead. The clock is ticking for banks and traditional payments firms because the competitive advantage is not guaranteed forever. As industry players seek economies of scale, consolidations loom, and non-banks explore new territories to threaten incumbents’ market share. While all these 2022 trends are at play, central bank digital currency (CBDC) is emerging globally and might open a new chapter in the current payments landscape.
As we slowly move out of the pandemic, financial services firms have learned the criticality of virtual engagement to business resilience. Wealth management firms will need capabilities to cater to new-age clients and deliver new-age services. This report aims to understand and analyze the top trends in the Wealth Management industry this year and beyond.
A year ago, our Top Trends in Wealth Management report emphasized how the pandemic sparked disruption and digital transformation and changing investor attitudes around Environmental, Social, and Corporate Governance (ESG) products. As we begin 2022, many of those trends continue to hold as COVID-19’s wide-reaching effects continue to influence the wealth management industry.
As wealth management (WM) firms supercharge their digital transformation journeys, investments in cybersecurity and human-centered design are becoming critical to building superior digital client experience (CX). Another holdover trend − sustainable investing – is gaining mainstream attention and generating increasingly sophisticated client demands. Data and analytics capabilities will become ever more essential for ESG scoring and personalized customer engagement. As large financial services firms refocus on their wealth management business while new digital players make industry strides, competition is becoming historically intense. Not surprisingly, client experience is the new battleground.
This analysis provides an overview of the top trends in the retail banking sector driven by the competition, digital transformation, and innovation led by retail banks exploring novel ways to create and retain value in evolving landscape.
COVID-19 caught banks off guard and shook legacy mindsets to the core. With 20/20 (2020) hindsight, firms are more aware, digitally resilient, and financially stable as they head into 2022. The trials of the past 18 months forced firms to shore up existing business and consider new models and revenue streams.
Customer-centricity remains at the top of most FS agendas and is a 2022 focal point. Banks will focus on achieving operational excellence as diligently as delivering superior CX. In 2022 and beyond, it will be paramount for FIs to explore and invest in new technologies to remain relevant and resilient.
Banking 4.X will arrive in full force in 2022 with platform-supported firms monetizing diverse ecosystem capabilities and aggressively harvesting data to create experiential customer journeys through intelligent and personalized engagements. The new era will compel future-focused banks to finally abandon legacy infrastructure and collaborate with third-party specialists to solidify their best-fit, long-term roles. Increasingly, open platforms will make banks invisible as banking becomes embedded into customer lifestyles. At the same time, banks will shed asset-heavy models and shift to the cloud for greater agility, speed to market, and faster innovation. The shift will act as a precursor to adopting new technologies on the horizon – 5G and Decentralized Finance.
The recent past was filled will extraordinary lessons for financial institutions. Now is the time to act on those learnings and move forward profitably.
While COVID-19 has sparked the demand for life insurance, it has also exposed the operating model vulnerabilities in distribution, servicing, and customer retention. In a post-COVID, new-normal environment, insurers need to enhance their capabilities around advanced data management and focus on seamless and secure data sharing to provide superior CX and hyper-personalized offerings. Accelerated digitalization and faster go-to-market are vital to remaining competitive, and win-win partnerships with ecosystems are critical in the journey.
Read our Top Life Insurance Trends 2022 to explore the tactical and strategic initiatives carriers undertake to acquire competencies around customer centricity, product agility, intelligent processes, and an open ecosystem to ensure profitable growth and future readiness.
Property & Casualty Insurance Top Trends 2021Capgemini
The Property & Casualty insurance landscape is evolving quickly with the changing risk landscape, entry of new players, and changing customer expectations. The ripple effects of COVID-19 on the P&C insurance industry and natural disasters such as forest fires have adversely impacted insurance firm books.
In this scenario, to ensure growth and future-readiness, the most strategic insurers strive to be ‘Inventive Insurers’ – assuming a customer-centric approach, deploying intelligent processes, practicing business resilience and go-to-market agility, and embracing an open ecosystem.
Read our Property & Casualty Insurance Top Trends 2021 report to explore the strategies insurers are adapting to remain competitive amidst the evolving business landscape and how they can explore new ways to enhance their profitability.
A combination of factors such as demographic changes, evolving consumer preferences, and desire to become operationally efficient were already spurring changes in the life insurance industry. Enter 2020 – the COVID-19 pandemic is having a significant impact on the industry.
At the peak of disruption, the focus was on ensuring business continuity, but new initiatives are cropping up to tackle the challenges as the industry is adapting to the new normal.
Furthermore, COVID-19 has acted as a catalyst, pushing life insurers to prioritize their efforts on improving customer centricity, developing go-to-market agility, making processes intelligent, building business resilience, and embracing the open ecosystem.
Read our Life Insurance Top Trends 2021 report to explore the strategies insurers are adopting to manage the changing market dynamics.
The uncertainty of 2020 is setting the global tone for the immediate future in the financial services industry. So it is no surprise banks are laser-focused on business resilience, emphasizing both financial and operational risks. The need to adapt quickly to new normal conditions through virtual customer engagement is clear.
Customer centricity continues to drive commercial banks’ solution designs. And, the pandemic compelled products that deliver immediate client value ‒ quick digital onboarding, seamless lending, and support for small and medium-sized enterprises (SMEs). The onus is now on banks to go to market more quickly, which requires the implementation of intelligent processes and integrating corporates’ enterprise resource planning (ERP) systems with banking workflows.
To achieve go-to-market agility, banks across the globe are investing in and collaborating with FinTechs. Many of these partnerships are focused on boosting digital lending and providing seamless support to anxious small-business clients in need of assurance.
With newfound impetus for FinTech collaboration, commercial banks have picked up their step on the path toward OpenX. COVID-19 made it evident that survival during turbulence is manageable through collaboration with ecosystem players.
Read our Top Trends in Commercial Banking 2021 report to explore the strategies banks are adapting to transform their businesses from a product-led, siloed model to an experiential and agile plan.
When we published the Top Trends in Wealth Management 2020, little did we foresee the pandemic that would sweep through the world and disrupt life as we knew it. Yet, when we reviewed last year’s trends, we found that many still hold and some have taken on even greater relevance. One such trend is sustainable investing, which had begun to gain prominence as investors became more aware of ESG considerations, and firms rolled out more sustainable investing offerings. Another trend that has accelerated in the post-COVID world is the importance of investing in omnichannel capabilities and technologies such as artificial intelligence (AI) to enhance personalization and advisor effectiveness. The pandemic has driven wealth management firms to accelerate their digital transformation journey, with some immediate focus areas being interactive client communications and digital advisor tools.
There is no denying that time is of the essence. Yes, budgets are tight, but the Open X ecosystem offers wealth management firms opportunities to reimagine their operating models and deliver excellent customer experience cost-effectively.
Top trends in Payments: 2020 highlighted the payments industry’s flux driven by new trends in technology adoption, innovative solutions, and changing consumer behavior. The pandemic has tested the digital mastery of players, who are already grappling with transition. Non-cash transactions are on a robust growth path, accelerated by increased adoption during COVID-19. Regulators are working to instill trust and address non-cash payments risk amid unparalleled growth as players collaborate to quell uncertainty. Regional initiatives, such as the P27 (Nordics real-time payments system) and the EPI (European Payments Initiative), are gaining traction in response to country-level fragmentation and competition.
Investment in emerging technologies is looked upon as an elixir to mitigate fraud, data-driven offerings are being considered for providing value-added propositions, and distributed ledger technology is in focus for digital currency solutions, efficiency enhancement, and cost gains. New players, such as retailers/merchants, are integrating payments into their value chains while technology giants are upscaling their financial services game by weaving offerings around payments as a center stage. Constrained by budgets, firms consider business models such as Platform-as-a-Service (PaaS) to provide cost-effective and superior customer experience.
A combination of factors, including demographic changes, evolving consumer preferences, and regulatory and compliance mandates, were already spurring change in the health insurance industry. Enter 2020 and the COVID-19 pandemic, which is having sweeping implications for the industry.
At the peak of disruption, the focus was on ensuring business continuity, but new initiatives are cropping up to tackle the challenges as the industry adapts to the new normal.
Furthermore, some changes are here to stay, and it will be prudent for the industry players to be resilient to the market shifts by being agile, improving member centricity, making processes intelligent, and embracing the open ecosystem.
Read our Health Insurance Top Trends 2021 report to explore the strategies insurers are adopting to manage the external pressures.
The banking industry’s resilience is being tested as banks navigate through a remarkable 2020 filled with uncertainties. The impact of COVID-19 has been about setting the tone for future operational models. Retail banks have shifted focus towards integrated risk management with a more holistic view of operational risks. Adapting to the new normal, banks have prioritized cost transformation while engaging customers virtually. Incumbents sought to be more responsible within fast-changing environmental conditions and ESG remained a critical focus.
To provide more experiential services, banks are leveraging techniques such as segment-of-one to hyper-personalize offerings while aiming to humanize digital channels for increased engagement. Banks are also revamping middle and back offices, going beyond the front end leveraging intelligent processes. Open X is enabling banks to play on their strengths and use the expertise of ecosystem players. Going forward, banks are poised to become an enhanced one-stop shop by providing consumers value-adding FS and non-FS experiences.
To acquire customers in cost-effective manner, retail banks are tapping value-based propositions ‒ such as POS financing and mortgage refinancing. Further, Banking-as-Service provides incumbents a way to provide their high-value offerings to other players. In preparation for the future, banks will be looking to improve their go-to-market agility by leveraging the benefits of cloud. This analysis outlines the top 10 trends in retail banking for 2021.
Explore how Capgemini’s Connected autonomous planning fine-tunes Consumer Products Company’s operations for manufacturing, transport, procurement, and virtually every other aspect of the supply-value network in a touchless, autonomous way.
Financial services is undergoing a paradigm shift that is forcing incumbent retail banks to rethink growth strategies as they struggle to remain relevant. Growing competition from BigTechs, FinTech firms, and challenger banks has added to the complexity created by increasingly stringent regulatory and compliance requirements. Customers now expect a seamless customer journey and personalized offerings because they have become accustomed to top-notch individualized service from GAFA giants Google, Apple, Facebook, and Amazon. The changing ecosystem offers established banks new, unexplored opportunities and encourages a transition beyond traditional products to meet the exacting requirements of today’s customers. Bank collaboration with FinTech and RegTech partners is becoming commonplace. Incumbents are exploring point-of-sale financing and unsecured consumer lending, while they also boost their digital channel competencies to reach a broader customer base. Banks are beginning to accept open APIs and are working with third-party specialists to create an open shared marketplace. Technological advancements such as AI are fueling efforts to evolve customer onboarding and touchpoint processes. Increasingly, banks are turning to design thinking methodology to understand the customer journey, extract deep insights, and develop a more refined user experience across the customer lifecycle.
Our analysis of the top retail banking trends for 2020 offers a glimpse into the fast-changing banking ecosystem and explores the tools and solutions being used to face new-age challenges.
Aspects of the life insurance industry have remained constant for years – and so have premiums. Traditional savings products have taken a huge hit in terms of attractiveness because low interest-rates prevail. Meanwhile, the risk landscape is shifting, and insurers need to align better with the emerging business environment, manage changing customer preferences, and improve operational efficiencies. Within today’s scenario, industry players are undertaking tactical and strategic shifts in attempts to manage unpredictable market dynamics. Insurers must develop alternative products to breathe new life into policies and leverage emerging technologies (artificial intelligence (AI), analytics, and blockchain) to improve efficiency, agility, flexibility, and customer-centricity.
Read Top Trends in Life Insurance: 2020 for a look at the innovative steps future-focused insurers are considering to meet industry challenges and opportunities.
The health insurance industry is evolving and undergoing significant changes. As the risk landscape shifts, insurers are working to improve operational efficiencies, meet evolving customer preferences, and align better with the changing business environment. Accordingly, payers must adapt and align business models and offerings. An incisive tactical approach is required to accommodate members’ needs and related emerging risks — medical, health, and environmental. Advanced technologies such as artificial intelligence, analytics, automation, and connected devices are enabling insurers to manage these changes proactively, partner with members, and help to prevent risks, all the while continuing to fulfill payer responsibilities.
Read Top Trends in Health Insurance: 2020 to learn which strategies insurers are adopting to navigate and align with today’s challenges.
Similar to other financial services domains, payments is evolving into an open ecosystem. The EU’s Payment Services Directive (PSD2) pioneered open banking by encouraging banks and established payments players to securely open the systems to foster competition, innovation, and more customer choices. In tandem with non-cash transaction growth, regulations are driving banks and payments firms to expand their array of payment methods and channels. Governments are encouraging financial inclusion by also promoting the adoption of non-cash payments. Increasingly, merchants and corporates seek to offer alternative payment systems because of widespread popularity among consumers. Alternative payments also enable merchants to provide real-time and cross-border payments to boost business efficiency.
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End-to-end overview of CI/CD pipeline with Azure devops
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Test Automation with generative AI and Open AI.
UiPath integration with generative AI
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GitHub: https://github.com/albumentations-team/albumentations
Website: https://albumentations.ai/
LinkedIn: https://www.linkedin.com/company/100504475
Twitter: https://x.com/albumentations
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So Near Yet so Far: Why Utilities Need to Re-energize Their Digital Customer Experience
1. So Near Yet so Far
Why Utilities Need to Re-energize Their
Digital Customer Experience
2. 2
Utilities Face Growing
Customer Dissatisfaction
There is simmering discontent in the
utilities industry. Customers, already
increasingly demanding, are now actively
dissatisfied with their providers. Take the
UK as an example. Customer satisfaction
Mind the Gap:How a Digital Divide is Compromising
the Utility Customer Experience
Figure 1: Top Business Challenges for Utilities
levels in Britain dropped from 78% in
2012 to 55% in 2013. And only 29% of
customers trusted their utility providers
to be open and transparent in 2013,
compared to 34% in 20121
. For the EU
as a whole, customers’ trust levels in their
energy suppliers stood at just 45%, and
in North America, at 53% in 20132
.
There is clearly a need to address this
tide of disquiet and re-energize the utility
customer experience. Industry analyst
surveysshowthatutilitieshaverealizedthe
need for enhancing customer experience
(see Figure 1). However, the industry’s
best efforts to rebuild confidence and
trust could in fact be undermined by a
growing digital divide, with consumers
demanding a digital experience that the
industry has so far been unable to meet.
Customer satisfaction
levels in the UK dropped
from 78% in 2012 to 55%
in 2013.
Only 29% of customers
trusted their utility
providers in 2013.
Top Business Challenges
European Utilities
Top Business Challenges
North American Utilities
Maintain regulatory compliance
Enhance customer experience
Retain customers
Smart networks
Environmental legislation
Smart metering
Revenue protection
Aging infrastructure
Manage an aging workforce
Sample size: 111
Average rating
Question: How important are the above business challenges to your organization?
Sample size: 48
Question: How important are the above business challenges to your organization?
1.0 1.5 2.0 2.5 3.0 3.5 1.0 1.5 2.0 2.5 3.0 3.5
Average rating
Maintain regulatory compliance
Smart metering
Aging infrastructure
Environmental legislation
Enhance customer experience
Revenue protection
Smart networks
Retain customers
Manage an aging workforce
Source: Ovum, “ICT Enterprise Insights in the Utilities Industry”, 2013
3. 3
Figure 2: Adoption of Digital Technologies by Utilities to Enhance Customer
Experience
Thwarted Desire:Utilities
Have Not Met their
Customers’ Digital Wants
Utility customers want to go digital.
Platformssuchassocialmediaandmobile
apps are rapidly becoming the preferred
means for customers to communicate
with their providers. Research indicates
that over 57 million customers engaged
with utilities via social media in 2011
and that this number is expected to rise
to 624 million by the end of 20173
. It is
also estimated that 50% of customers
prefer to use a mobile customer service
application to try and resolve their service
issues before calling the contact center4
.
Unfortunately, utilities have not kept pace
with consumers in the shift to digital
channels. Our research with the MIT
Nearly 624 million
customers are expected to
engage with utilities via
social media by the end of
2017.
50% of customers prefer
to use a mobile customer
service application to try
to resolve their customer
service issues before
calling the contact center.
% of utilities agreeing with the statement
We use digital technologies to
enable self-service
40% 29%
We use digital technologies to provide
consistency across channels
26%
We use digital technologies to
personalize the sales experience
We use digital technologies to
conduct location-aware marketing
11%
Source: Capgemini Consulting and MIT Center for Digital Business, “Digital Transformation Benchmark - 2012:
Emergence of the Digital Utility”, 2013.
Centre for Digital Business shows that
only 40% of utility providers use digital
technologies to enable self-service (see
Figure 2). Less than 30% of utilities
use digital technologies to provide a
consistent experience across channels5
.
While utilities have undoubtedly taken
their first steps towards a brighter
digital future, they have a long way to
go. We conducted a detailed study to
understand the digital initiatives being
undertaken by utilities to improve the
customer experience. We also assessed
the reaction and sentiments of customers
towards those initiatives. We share these
findings over the following pages before
concluding with a set of pragmatic
recommendations on how utilities can
cement their relationship with customers
through digital, rather than threaten it.
4. 4
Out of Tune:Digital Initiatives are Out of Sync with
Customer Expectations
Billing Issues:A Concern
Despite New Digital
Payment Channels
Utilities have begun efforts to try and
simplify the billing and payments process
for customers. For instance, 52%
of utilities in our study (see research
methodology on page 7 for details) allow
customers to pay bills online through
their official websites, while 34% offer bill
payment features on their mobile apps.
However, despite these initiatives, billing
issues continue to be a cause of concern
for customers. Our analysis revealed that
only 30% of online customer mentions
related to utility billing services are
positive. The most common billing issues
that customers face include overcharges,
especially for delayed payments, and
inaccuracies in billing periods and rate
plans in utility invoices.
Outage Management
Remains a One-Way
Channel that Does Not
Support Customer
Feedback Mechanisms
Close to 52% of utilities in our study
provide outage information on their
websites, while 44% offer this information
through their mobile apps. Additionally,
58% of utility providers post power
outage information on social media
channels such as Twitter, Facebook, and
on company-managed blogs. However,
the majority of utilities do not offer a
mechanism for customers to report
outage issues. We found that only 26%
of customer mentions on the quality of
communication on outages are positive.
52% of utilities allow
customers to pay bills
online through utility
websites, while 34% offer
bill payment features on
their mobile apps.
Only 32% of customer
opinions on the mobile
apps offered by utilities
are favorable.
Figure 3: Mobile App Feature Support
Report
problems
Access and
pay bills
Receive
alerts
Update account
information
View outage
information
View service
details
% of utilities offering the feature
46%
40%
44%
34%
44%
24%
Source: Capgemini Consulting analysis
Mobile Apps Offer Limited
Functionality
56% of utility providers offer a mobile
app. However, most utilities offer only
basic functionality, such as the ability to
view service details or receive alerts from
providers. Only 24% of utility providers
offer advanced features, such as the
ability to report issues via the app (see
Figure 3). It is perhaps not surprising,
therefore, that only 32% of customer
opinions on the mobile apps offered by
utilities are favorable.
5. 5
Social Media is Not Used
as an Effective Medium for
Customer Service
Utilities are using social media channels
primarily to share information, which
includes energy efficiency tips,
emergency handling tips, or outage
information (see Figure 4). Social media
channels are also used as platforms for
brand building. For instance, 58% of
utilities use their social media channels to
promote their community development
initiatives. However, most utilities are
not utilizing their social media channels
to actively engage with customers. For
instance, only 34% of utilities address the
complaints they receive from customers
Only 34% of utilities
address the complaints
they receive from
customers on social media
channels.
Only 29% of the customer
sentiment on the quality
of customer support
offered by utilities is
positive.
Figure 4: Social Media Feature Support
Customer
complaint redressal
Contests /
promotions
Power outage
information
Information on community
development initiatives
Energy
efficiency tips
Emergency
handling tips
% of utilities offering the feature via their social media channels
62% 60% 58%
58% 36% 34%
Source: Capgemini Consulting analysis
on social media channels. It is telling that
only 29% of the sentiment on the quality
of customer support offered by utilities is
positive.
6. 6
Mobile apps offer limited functionality
Websites lack self-service features
of customer opinions on
utilities’ mobile apps are
favorable
of customer opinions on
self-service features offered
by utilities are favorable
The Disconnect between what Utilities Offer
and what Customers Experience
Are Utilities Doing Enough Are Customers Satisfied
Social media is not used effectively for customer service
Outage management does not support
customer feedback mechanisms
of utility providers
offer a mobile app
56%
address customer
complaints on social
media channels
34%
enable
bill payments
offer the ability to
report problems
via mobile apps
of the customer sentiment on
the quality of customer support
offered by utilities is positive
24% of customer mentions on
the quality of communication
on outages are positive
52%
? ?
26%
Only28%
29%
32%
Source: Capgemini Consulting analysis
7. 7
While utilities have tried to engage with
customers through a variety of digital
initiatives, their efforts are falling short.
To reflect on why that is and what can
be done, it would be helpful to look at
Research Methodology
Part 1 – Analysis of Digital Initiatives Launched by Utilities to Improve Customer Experience
We studied the adoption of digital channels by the top 50 utility providers across the globe. Our research focused on their
web, mobile and social media initiatives. We evaluated each utility based on its use of social media platforms to provide
information, address customer complaints, manage outages and run promotions. Mobile customer care apps offered by
each utility were evaluated based on features such as the ability to access and pay bills, view and update information, and
report problems. We also assessed the web-based self-service features offered by each utility.
Part 2 – Analysis of Customer Sentiment towards Utility-Driven Digital Initiatives
We used advanced analytics tools to conduct an exhaustive web-based scan of customer reaction towards utility digital
initiatives. We gathered and analyzed customer sentiment data from a wide range of sources including social media sites,
blogs, and online discussion boards. The themes for our assessment included:
• Customer support — quality of complaint resolution and correction of billing issues.
• Self-service — quality of web and mobile self-service features.
• Outage management — quality of communication during outages and emergencies.
• Billing — billing accuracy and resolution of billing issues.
• Community development — sustainability initiatives undertaken by utilities.
another industry that has made a virtue
of the digital customer experience, to
draw out best practice and the lessons
learned along the way. In the next section,
we cast our eye over the telecom sector,
which has had more joy in using digital
tools to improve and sustain the quality of
the customer experience.
8. 8
Ringing the Changes:Best Practice for Utilities
from the Telecom Industry
The leading telecom companies offer
a good parallel for utility players. Like
utilities, telecom companies are engaged
in a service that serves millions of people
on a 24-hour basis. The telecom industry
was also one of the first areas to be
struck by the first disruptive wave of
digital technologies.
Figure 5: Comparison of Digital Customer Experience Initiatives in the Telecom and Utilities Industries
Source: Capgemini Consulting and MIT Center for Digital Business, 2012
Utilities lag telecom
companies in the use of
social media platforms,
mobile channels, and
customer analytics to
reach and engage with
customers.
O2 has launched a
Twitter based self-service
platform for customers,
called the “#TweetServe”
program.
Verizon responds to more
than 99% of customer
tweets.
Our research with the MIT Center for
Digital Business revealed that utilities lag
telecom companies in the use of social
media platforms, mobile channels, and
customer analytics to reach and engage
with customers (see Figure 5)6
. We believe
that utilities can draw useful lessons from
Telcos are Embedding
Customer Service within
Social Media Channels
Telecom operators are increasingly
making social media a central pillar of
their customer service strategy. A recent
study on the use of Twitter for customer
service found that most brands redirect
customer complaints received on social
media to traditional channels such as
phone and email7
. Telecom companies,
however, were found to have the lowest
deflection rate of customer complaints
on social media, despite receiving among
the highest volumes of tweets. Verizon,
for instance, makes concerted attempts
to resolve customer issues through social
media channels, responding to more than
99% of the tweets it receives8
.
Some telcos are also using social
media channels as an effective way of
encouraging self-service. For instance,
European telecom major O2 recently
launched its “#TweetServe” program,
designed to be a Twitter-based self-
service platform for customers. The
platform allows customers to send tweets
to the operator using specific keywords,
in order to obtain information on data
usage, bill related details, or special offers
and deals on new phones. Responses to
the tweets are sent back to customers in
the form of direct Twitter messages from
the operator9
.
telecom companies on how to expand
the breadth and quality of their digital
customer experience initiatives.
Use of Digital for Customer Experience Improvement
Average industry ratings (on a scale of 1 to 7, with 7 beingthe highest)
Telecom
…to provide customer service
UseofSocial
Media
UseofMobile
Channels
UseofCustomer
Anaytics
...to promote products and services
…to sell products and services
…to provide customer service
...to promote products and services
…to sell products and services
…to target marketing initiatives more effectively
…to personalize marketing communication
…to optimize pricing
Utilities
4.7
4.6
3.4
3.4
3.0
3.9
3.4
3.8
3.8
3.7
3.4
4.4
4.4
3.0
4.1
4.2
4.6
4.8
9. 9
AT&T offers personalized
videos to help customers
better understand their
bills.
Telcos are Making Digital
Channels a Seamless
Part of Their Support
Proposition
Some telcos have recognized the need
to ensure that digital channels do not
operate in isolation, but rather exist as
an integrated part of their overall service
proposition. For instance, Telefonica’s
Spanish subsidiary Movistar is upgrading
its CRM capabilities so that its customers
can seamlessly transition from their
mobile self-service apps to contact
center support. When a customer
selects the option to switch from the
app to the contact center, all information
about the customer’s activities in the
mobile application is transferred to the
contact center, providing the agent with
real-time information on the customer’s
profile and the context of the interaction.
Additionally, the upgrade enables
multimedia collaboration options, such
as the exchange of images between
the customer and contact center agent,
to further enhance the speed and
effectiveness of issue resolution10
.
Telefonica Movistar
enables customers
to switch seamlessly
between their mobile self-
service app and contact
center support.
Telcos are Using Digital
Technologies to Effectively
Address Billing Concerns
Digital technologies can also act as
effective complementary mediums
to address traditional challenges. For
instance,AT&Tisusingvideoandanalytics
technology to provide customers with
greater transparency on their bills. The
company actually creates personalized
videos that help customers better
understand their bill. New customers and
customers who upgrade to new services
receive a link to a personalized video
along with their first bill. These videos
explain the different components of the
customer’s bill. In addition to improving
billing transparency, these digital initiatives
also enable AT&T to offer proactive
customer service. A built-in analytics
platform analyzes customer data and
agent logs and is used to create follow-
up videos after a customer service call,
to provide additional self-service tips and
product and service recommendations.
Usage of such technology has enabled
AT&T to reduce inbound call volumes and
increase customer satisfaction scores12
.
The telco industry shows us how digital
technologies can create a compelling
customer experience, bridging the gap
between the digital needs of the customer
and their provider’s ability to deliver.
Although there are notable exceptions in
the utility industry (see insert on Hydro-
Quebec), it is apparent that more needs
to be done. We conclude this paper with
some concrete recommendations for
how utilities can turn this situation around
– using digital to create a new level of
utility customer experience.
Similarly, France-based Bouygues
Telecom’s online-only brand B&YOU
offers a seamless and entirely digitized
customer service process. To reduce
service terminations, B&YOU offers click-
to-call features on its website; customers
seeking to terminate a connection
are offered the click-to-call option to
speak with a customer service agent or
“e-advisor”, who attempts to address the
grievance that prompted the cancellation.
This has helped B&YOU reduce customer
churn by 50%11.
Hydro-Quebec:Transforming Customer
Experience through Digital
Hydro Quebec, a leading energy and utilities company in North America, generates,
transmits and distributes electricity, mainly using renewable energy sources. The
company historically had a limited presence on social media platforms and mobile
channels. Moreover, existing channels were siloed, which meant that the company did
not have a unified view of the customer.
In 2011, Hydro Quebec embarked on a four-year program to transform the organization
into one that was dedicated to the improvement of customer experience. Top of the list
of objectives were the creation of a multichannel customer experience improvement
strategy, the development of offers tailored to each market and customer segment,
and the promotion of a customer-centric culture within the organization.
As part of the transformation program, the company launched a “Drive to Web”
initiative, to make the web, and all other digital channels such as email, mobile and social
media, the core of the multichannel experience for the customer. The strategy aimed
at rationalizing traditional channels and delivering more value through digital channels.
Hydro Quebec strengthened its Web and mobile channels by offering enhancements
such as the explanation of bills and payment terms, improved management of outages,
and new smart metering services. The “Drive to Web” initiative resulted in an increase
in the number of customers opting for online self-care services, and consequently,
reduced inbound call volumes by 12%.
Source: Capgemini Consulting
10. 10
Making It Happen:Transforming the Utility
Customer Experience through Digital
We believe there are three important steps
a utility must take to achieve the nirvana
of ‘digital utility’ (see Figure 6). You need
to give digital channels a boost, create
that seamless multi-channel experience,
and make your move towards being a
‘complete provider’.
Give Individual Channels a
Digital Boost
Expand the Scope of the Web and
Mobile Channel
Online and web channels must be used
more efficiently to deliver bills, with options
for customers to report errors easily.
Utilities must create web-based self-
service features that allow customers to
view patterns in energy usage, by month,
day or hour, as well as peak and non-peak
hour tariffs. This will enable customers
to switch to a tariff plan that matches
their usage and even to alter usage to
reduce energy consumption. Similarly,
mobile apps must offer functionality for
customers to report billing errors or seek
clarifications on bills.
Strengthen Customer Service
Capabilities on Social Media
Utilities must strengthen their social
media customer service capabilities.
Utilities should set up a dedicated social
media account, such as a Twitter handle,
to address customer issues. Utilities
must also ensure that complaints are
addressed in a timely manner, with clearly
defined SLAs that match those of contact
center services.
Figure 6: Towards a Digital Utility
Source: Capgemini Consulting analysis
Existing CRM processes
need to be adapted to
support an Any Time Any
Where Any Device model
of service delivery.
Utilities must ensure
that complaints on social
media are addressed in
a timely manner, with
clearly defined SLAs that
match those of contact
center services.
However, setting up a dedicated social
media account and establishing SLAs for
response are only part of the story. Utilities
should actively invest in training customer
service teams that manage social media
channels to ensure complaints are closed
on the social channel itself, rather than
being redirected to traditional channels.
Give Individual Channels
a Digital Boost
Move towards Being
Complete Energy
Services Providers
Create a Seamless
Multi-Channel Experience
11. 11
Develop an Energy Services
Portfolio
To create long-term customer loyalty,
utilities should transform themselves
from energy suppliers to energy service
providers. Energy usage data gathered
from smart meters offers an opportunity
To drive long term
customer stickiness,
utilities should transform
themselves from energy
suppliers to energy
service providers.
Figure 7: Delivering a Seamless Multichannel Customer Experience
Source: Capgemini Consulting analysis
Discovery First Order << Normal Life >> Discover New Products Renewal
Differentiation
based on customer
segmentation A friend
recommends
a new offer
on Facebook
I learn
about the
offer on
the web
I place an order
on the brand’s
website
I share my experience
on the brand’s official
blog and post my
opinion on social
networks
I am informed on
Twitter with a
special offer of
re-engagement
I call an advisor to
re-engage, using a
click-to-call option
I get a personalized email
with the special offer of
re-engagement that I saw
on Twitter
I get my bill with details of
the loyalty program
I look for information on my
mobile or tablet to
enrich my usage
I visit a store for
more information
for utilities to realize this transformation.
Smart meter data can be used to segment
customers more accurately and offer a
range of customized energy management
services. This includes real-time insights
on energy usage and personalized advice
on reducing consumption. Further, smart
meter data can also be used to roll out
targeted demand response programs to
incentivize energy efficiency. For instance,
customers who reduce electricity usage
during peak hours could be offered bill
credits. Such services will enable utilities to
create more value for themselves as well
as customers, in turn driving sustained
customer satisfaction and loyalty.
Using digital technologies, utilities have
abundant opportunities to simplify and
enrich the lives of their consumers.
Clearly, the heart of the issue is ensuring
that exceptional customer service is your
raison d’être. But with savvy consumers
demanding this service across digital
channels, utilities need to bridge the
digital divide that threatens to undermine
their customer promise.
Deliver a Seamless
Multichannel Anytime
Anywhere Any Device
Experience
A robust multichannel customer service
strategy lies at the heart of an engaging
customer experience. Utilities need to
ensure that all digital channels that serve
as customer touchpoints are seamlessly
integrated. This is critical if customers are
to receive a consistent experience across
channels, and customer interactions that
begin in one channel can be completed
in another without disruption. Existing
CRM processes will need to be adapted
to support an ‘Any Time Any Where Any
Device’ model of service delivery (see
Figure 7). This will also ensure that utilities
are well-placed to take advantage of new
customer service opportunities, such as
providing personalized recommendations
on energy usage or promoting new
services.
Utilities need to consciously increase
the volume and value added through
digital channels and services. As the
Hydro-Quebec case demonstrated, by
doing so, they can decrease inbound flow
on traditional channels. This has a direct
impact of improving the bottom-line by
reducing the utility cost to serve as well as
cost to acquire customers.
12. 12
1 Ipsos MORI, “Customer Engagement with the Energy Market – Tracking Survey”, June 2013
2 Edelman, “Trust in Energy – 2014 Edelman Trust Barometer”, January 2014
3 Pike Research Survey, “Social Media in the Utility Industry Consumer Survey”, 2012
4 IMIMobile, Energy and Utilities webpage
5 Capgemini and MIT Center for Digital Business, “Digital Transformation Benchmark - 2012: Emergence of the Digital Utility”,
2012
6 Capgemini Consulting and MIT Center for Digital Business Research, 2012
7 Conversocial, “Which brands are Re-directing Social Media Complaints to Traditional Channels”, August 2013
8 Conversocial, “With Twitter’s IPO Approaching, Which Brands Are Taking it Seriously as a Customer Service Channel?”,
October 2013
9 O2, “O2 launches ‘world first’ #TweetServe program”, October 2013
10 Yahoo Finance, “NICE Mobile Reach Selected by Telefónica to Provide Exceptional Customer Service”, February 2013
11 Oracle.com, “Bouygues Telecom Reduces Customer Churn by 50% with Click-to-Call Technology”, November 2013
12 Forbes, “AT&T Gets Results With Proactive Customer Service”, November 2013
References
13. Philippe Vié
Vice President, Digital Utilities Leader
philippe.vie@capgemini.com
Jerome Buvat
Head of Digital Transformation Research
Institute
jerome.buvat@capgemini.com
Subrahmanyam KVJ
Manager
subrahmanyam.kvj@capgemini.com
Suvidha Aggarwal
Senior Consultant
suvidha.aggarwal@capgemini.com
Amrita Radhakrishnan
Senior Consultant
amrita.radhakrishnan@capgemini.com
Authors
For more information contact
Digital Transformation
Research Institute
dtri.in@capgemini.com
The authors would also like to acknowledge the contributions of Simon Short and Maggie Buggie from the Capgemini Digital
Customer Experience team, Roopa Nambiar from the Digital Transformation Research Institute, Abhishek Gokhale and
Jinesh Jain from the Capgemini Consulting India Team.
Belgium
Pierre Lorquet
pierre.lorquet@capgemini.com
North America
Tyler Duff
tyler.duff@capgemini.com
Norway
Tallak Thorleifsson
tallak.thorleifsson@capgemini.com
Italy
Giuseppe Luigi Vicini
giuseppe.vicini@capgemini.com
France
Philippe Vié
philippe.vie@capgemini.com
Germany
Andreas Weiler
andreas.weiler@capgemini.com
France
Jean Pierre DUPE
jean-pierre.dupe@capgemini.com
Netherlands
Mark Schutz
mark.schutz@capgemini.com
Spain
Oscar Sommarriba Guemes
oscar.sommarriba@capgemini.com
Sweden
Fredrik Gunnarsson
fredrik.gunnarson@capgemini.com
United Kingdom
Martin Wells
martin.wells@capgemini.com
Spain
Carlos Garcia Santos
carlos.garcia.s@capgemini.com