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CX Landscape Is Dynamic

In fact, CX has a tangible dollar value. Among 1,000 customers surveyed, one in four are willing to pay up to 10% more to receive excellent customer service. 10% of them are even willing to spend a 30% premium.

A Forbes survey also reveals that 54% of consumers make purchasing decisions based on customer service. When done well, 56% were willing to spend more on a brand even if cheaper options existed.

Among the top ranked aspects of customer experience are:

  • Speed
  • Convenience
  • Knowledgeable help
  • Friendly services

A PWC report reveals that 32% of all customers would stop doing business with a brand they loved after a single bad experience. The figure is higher at 41% according to another survey by ServiceNow.

The trend is also worsening with time. TechSee revealed that consumer loyalty towards brands has declined since the pandemic, with 43% of consumers stating that they cancelled subscriptions or switched to different products primarily because they could potentially receive better customer service elsewhere.

This indicates the high stakes of achieving a high bar of customer service.

Phone calls, although important, are now secondary to newer channels. 51% of leading contact centres found that half or more of their interactions are currently being handled through digital channels.

To meet customer expectations, businesses should focus on improving personalised experiences and providing seamless omnichannel support. A 2019 Omnisend study found that omnichannel campaigns saw an 18.96% engagement rate, while single-channel saw just a 5.4% engagement rate.

For instance, mobile messaging is gaining in popularity, especially among younger generations like millennials and Gen Z. In fact, 58 percent of Gen Z consumers prefer using social media for customer service.

Takeaway:
Enterprises are seeking partners who understand their current CX needs & future trends.

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Our service team is always up-to-date with current CX trends, frequently making appearances at forums and events/conferences.

ANBIZ also has more than 20 years of client service experience within the CX landscape and is familiar with the obstacles faced by large enterprises.

CRM Implementation is a Technical Challenge

Many companies have proprietary systems and data, which they use to gain a competitive advantage. However, data systems that are unique to each company are not easily replicable — making it difficult for 3rd party providers to prescribe standardised solutions.

For instance, proprietary systems made it difficult to share data during the Africa Ebola public health emergency in 2014. This led to the loss of many human lives, where global collaboration was essential to combat the spread of infectious diseases.

This is especially difficult for highly-regulated industries, where:

  • Systems must adhere to strict, ever-changing regulatory standards.
  • Digital transformation is a key competitive advantage.
  • Data privacy and security are uncompromising.
  • Data accuracy is crucial.

All experts agree that system architecture for both IT infrastructure and data systems is increasingly complicated. This is more so when companies attempt to adopt using a hybrid on-prem & cloud infrastructure.

A BCG Survey states that over half of data leaders struggle with architectural complexity — saying that as companies move up the maturity curve (from data-driven to AI-driven organisations), the architectural complexity and fragmentation inevitably rise.

Hence, onboarding technological vendors is equally as complicated. A case study by TJIP highlights banks’ difficulties in managing multiple vendors and coordinating their efforts to implement self-service portals and mobile-optimised platforms.

Adding to the complexity, companies are eager to incorporate artificial intelligence (AI) within their workflows. However, A CIO Survey found that 77% of CEOs of large companies are delaying their decisions due to regulatory uncertainty. 41% said they were taking a short pause of three to six months to monitor the regulatory landscape.

Companies often adopt a modular approach to expansion, integrating new solutions as and when necessary. This leads to different departments within the same company using diverse systems tailored to their specific needs.

However, this approach can lead to several challenges:

  • Knowledge gap between departments: Different systems can create a barrier to understanding and collaboration.
  • Difficult handover process: Transferring tasks or projects between departments can be complicated due to the different systems in use.
  • Inconsistent data formats: Each system may use a unique data format, making data consolidation and analysis challenging.
  • Lack of unique identifiers: Without a common system, tracking leads, accounts, or service tickets across departments can be difficult due to the absence of unique identifiers.

Takeaway:
Enterprises want partners with experience building scalable, complex & secure solutions.

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There are not many technological providers who can implement large-scale CRM systems across thousands of users.

At ANBIZ, we have completed projects with over 8,000 users within a single implementation, with more than 10 different integration points at any given time.

We also have frequent update cycles that introduces modern features, such as omnichannel support.

Change Management is a Bottleneck

Did you know that approximately 70% of all change initiatives fail? Among the common reasons are:

  • Resistance to change
  • Lack of stakeholder buy-in
  • Poor communication
  • Lack of strategic planning
  • and more.

Process and people are equally, if not, more important within the People, Process, Technology (PPT) framework.

Process mapping involves understanding and optimising internal processes, which directly impacts customer experience. This exists in the form of customer journey maps, SOPs, or employee manuals and more.

Drafting processes involves taking into account every possible scenario and drafting a policy for it. Although it adds visibility, introduces standardisations and helps mitigate risk, it is also extremely difficult to map out without prior expertise within this space.

Doing so requires cross-functional team collaboration, proper scoping, gathering quality data, and more.

Advanced technologies and complex processes are entirely ineffective if agents are unable to execute policies. That is because employees may resist change, lack the necessary skills to adapt or struggle with new processes and technologies.

In a survey conducted by Eagle Hill Consulting, only 21% of employees respond enthusiastically to change. This is a pessimistic figure at the beginning of any change management initiative.

Studies also show that managers are mostly overlooked and underinvolved in the change process, which can lead to resistance and poor change management outcomes.

Takeaway:
Enterprises want partners with expertise who understand all stakeholder pain points.

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ANBIZ has built a network of CX consultants, mostly seasoned leaders of commercial divisions directly from the highly-regulated industries.

Our team has a first-hand understanding of building CX systems with both consumers and user agents in mind; and are qualified to assist in building process maps and customer journeys while adhering to unique requirements.

Project Implementation Workflow

STAGE 1
Preliminary Stage

Get in Touch

Understanding Business Case

STAGE 2
Implementation Stage

Requirements Gathering

Change Readiness Evaluation

Customer Journey Mapping

Process Mapping / Evaluation

Solution Implementation

User Acceptance Testing

STAGE 3
Post-Deployment Stage

Staff Training & Upskilling

Support & Upgrades

Note: This is a default project workflow — which will change depending on client unique requirements

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