Tuesday, August 04, 2020

'Harness the digitisation of everything'

Aug 21. 2015
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TO SHAPE better service and product offerings, Accenture suggests that marketers and companies learn to use the digitisation of everything - including the customer's journey, data utilisation and analysis, and the connection between digital offerings and

“Using a customer’s journey to make new service offerings by data aggregation is a crucial way to engage with end consumers in the digital age. A successful example of this is travel and airline bookings,” Thomas Mouritzen, managing director for Asean at Accenture Interactive, said yesterday.

His comments were a part of a “Trends 2015” outlook by Fjord, Design and Innovation, a unit of Accenture Interactive.

Accenture Interactive is a subsidiary of Accenture, a global management consulting, technology services and outsourcing company.

Mouritzen suggested that this method would help both brands or companies “reduce the pain of navigating a fragmented experience”, particularly in insurance business.

A lesson to be learned from the customer’s journey is that companies are able to set up new organisational structures and manage their cost base and ability to serve online customers, which is something that would be of benefit for banking services, he said.

Accenture also suggests that many physical actions and devices will become data-driven services, and that companies are no longer immune from digital disruption because their assets are physical and expensive.

“Consider how ride-sharing providers challenge a high-investment industry by deploying transformative digital management systems,” Mouritzen said, adding that businesses use recorded physical actions and sensors to achieve disruptive levels of efficiency.

By doing this, two winners will be those with the market lead in smart devices and those with the market lead in collecting and analysing measurable human action, he said.

“Through digital technology, customers require new services in new forms. We call these ‘living services’, which depend on a customer’s need and liquid expectation,” he said.

However, top-ranking executives must engage and play a key role in the product and service development driven by this online data utilisation, he stressed.

For example, global hotel and resort chain Starwood has developed and offered its guests a mobile check-in and check-out service that allows them to use their smartphone as a key card to enter their room directly.

“This is a way to create differentiation of products and services,” he added.

Nontawat Poomchusri, country managing director of Accenture Thailand, said there was an increasing number of digital-savvy consumers spending more time online, and that in line with that trend, newly affluent and middle-class customers were now playing a key role in the market – and also becoming more tech-savvy.

He pointed to urbanisation as another supporting factor in this regard.

Given this development, financial, insurance, airline and travel businesses should be a high-potential group in terms of the sectors taking advantage of this huge opportunity, Mouritzen suggested.

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